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 Horizon options about one week from expiration was $24.05. The chart above shows the exact max pain for each expiration date.

First Horizon closed above its near-term max pain on 0 of the last 20 trading days. On Nov 4, 2026 it closed at $23.76, 1.2% below max pain of $24.05.

Over the last 20 trading days, near-term max pain for First Horizon ranged from $23.17 to $24.13. It went from $24.00 on Oct 8, 2026 to $24.05 on Nov 4, 2026. See the FHN max pain history for a longer view.

First Horizon Corp is the parent company of First Tennessee Bank, a prominent regional bank with about 200 branches around Tennessee.