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 Humana options about one week from expiration was $416.43. The chart above shows the exact max pain for each expiration date.

Humana closed above its near-term max pain on 13 of the last 20 trading days. On Nov 4, 2026 it closed at $417.19, close to max pain of $416.43.

Over the last 20 trading days, near-term max pain for Humana ranged from $390.00 to $425.00. It went from $390.00 on Oct 8, 2026 to $416.43 on Nov 4, 2026. See the HUM max pain history for a longer view.

Humana is one of the largest private health insurers in the US, and the firm has built a niche specializing in government-sponsored programs, with nearly all its medical membership stemming from Medicare, Medicaid, and the military's Tricare program.