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 Borr Drilling options about one week from expiration was $5.01. The chart above shows the exact max pain for each expiration date.

Borr Drilling closed above its near-term max pain on 6 of the last 20 trading days. On Nov 4, 2026 it closed at $3.33, 33.6% below max pain of $5.01.

Over the last 20 trading days, near-term max pain for Borr Drilling ranged from $4.00 to $5.03. It went from $4.00 on Oct 8, 2026 to $5.01 on Nov 4, 2026. See the BORR max pain history for a longer view.

Borr Drilling Ltd is an offshore shallow-water drilling contractor providing services to the oil and gas industry.