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 CNH Industrial options about one week from expiration was $12.61. The chart above shows the exact max pain for each expiration date.

CNH Industrial closed above its near-term max pain on 0 of the last 20 trading days. On Nov 4, 2026 it closed at $11.70, 7.2% below max pain of $12.61.

Over the last 20 trading days, near-term max pain for CNH Industrial ranged from $12.50 to $13.70. It went from $12.50 on Oct 8, 2026 to $12.61 on Nov 4, 2026. See the CNH max pain history for a longer view.

CNH Industrial is the world's second largest manufacturer of agricultural machinery (82% of industrial net sales) as well as a major player in construction equipment (18% of industrial net sales).