Max pain is the price where the total value of all open calls and puts would be lowest at expiration, so option buyers as a group would lose the most. Some traders watch it as a level the stock may drift toward near expiration, because option sellers, often market makers, hedge their positions in ways that can pull the price toward heavily traded strikes. It is a theory, not a guarantee.

As of the Nov 4, 2026 close, max pain for Axcelis Technologies options about one week from expiration was $105.00. The chart above shows the exact max pain for each expiration date.

Axcelis Technologies closed above its near-term max pain on 13 of the last 20 trading days. On Nov 4, 2026 it closed at $91.99, 12.4% below max pain of $105.00.

Over the last 20 trading days, near-term max pain for Axcelis Technologies ranged from $93.80 to $125.06. It went from $125.06 on Oct 8, 2026 to $105.00 on Nov 4, 2026. See the ACLS max pain history for a longer view.

Axcelis Technologies Inc designs, manufactures, and services ion implantation and other processing equipment used in the fabrication of semiconductor chips.