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 Celsius options about one week from expiration was $29.00. The chart above shows the exact max pain for each expiration date.

Celsius closed above its near-term max pain on 13 of the last 20 trading days. On Nov 4, 2026 it closed at $30.74, 6.0% above max pain of $29.00.

Over the last 20 trading days, near-term max pain for Celsius ranged from $27.57 to $29.00. It went from $28.29 on Oct 8, 2026 to $29.00 on Nov 4, 2026. See the CELH max pain history for a longer view.

Celsius Holdings operates in the energy drink subsegment of the global nonalcoholic beverage market, with 95% of revenue concentrated in North America.