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 Extra Space Storage options about one week from expiration was $139.78. The chart above shows the exact max pain for each expiration date.

Extra Space Storage closed above its near-term max pain on 11 of the last 20 trading days. On Nov 4, 2026 it closed at $161.13, 15.3% above max pain of $139.78.

Over the last 20 trading days, near-term max pain for Extra Space Storage ranged from $139.47 to $140.00. It went from $140.00 on Oct 8, 2026 to $139.78 on Nov 4, 2026. See the EXR max pain history for a longer view.

Extra Space Storage is a fully integrated real estate investment trust that owns, operates, and manages more than 4,400 self-storage properties in 42 states, with over 340 million net rentable square feet of storage space.