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 First Majestic Silver options about one week from expiration was $15.36. The chart above shows the exact max pain for each expiration date.

First Majestic Silver closed above its near-term max pain on 1 of the last 20 trading days. On Nov 4, 2026 it closed at $15.40, close to max pain of $15.36.

Over the last 20 trading days, near-term max pain for First Majestic Silver ranged from $15.29 to $18.21. It went from $17.93 on Oct 8, 2026 to $15.36 on Nov 4, 2026. See the AG max pain history for a longer view.

First Majestic Silver Corp is in the business of production, development, exploration, and acquisition of mineral properties with a focus on silver and gold production in North America.