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 American States Water options about one week from expiration was $85.00. The chart above shows the exact max pain for each expiration date.

American States Water closed above its near-term max pain on 5 of the last 20 trading days. On Nov 4, 2026 it closed at $88.68, 4.3% above max pain of $85.00.

Over the last 20 trading days, near-term max pain for American States Water ranged from $81.00 to $89.78. It went from $85.00 on Oct 8, 2026 to $85.00 on Nov 4, 2026. See the AWR max pain history for a longer view.

American States Water Co is a water and utilities holding company based in California.