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 First Hawaiian options about one week from expiration was $25.22. The chart above shows the exact max pain for each expiration date.

First Hawaiian closed above its near-term max pain on 13 of the last 20 trading days. On Nov 4, 2026 it closed at $25.86, 2.6% above max pain of $25.22.

Over the last 20 trading days, near-term max pain for First Hawaiian ranged from $20.00 to $25.55. It went from $25.02 on Oct 8, 2026 to $25.22 on Nov 4, 2026. See the FHB max pain history for a longer view.

First Hawaiian Inc is a bank holding company.