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 Affirm options about one week from expiration was $71.14. The chart above shows the exact max pain for each expiration date.

Affirm closed above its near-term max pain on 9 of the last 20 trading days. On Nov 4, 2026 it closed at $75.60, 6.3% above max pain of $71.14.

Over the last 20 trading days, near-term max pain for Affirm ranged from $70.00 to $75.00. It went from $70.29 on Oct 8, 2026 to $71.14 on Nov 4, 2026. See the AFRM max pain history for a longer view.

Founded in 2012, Affirm is a market leader in the buy now, pay later space with around $36 billion in transaction volume in fiscal 2025.