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 Intercontinental Exchange options about one week from expiration was $160.71. The chart above shows the exact max pain for each expiration date.

Intercontinental Exchange closed above its near-term max pain on 15 of the last 20 trading days. On Nov 4, 2026 it closed at $174.93, 8.8% above max pain of $160.71.

Over the last 20 trading days, near-term max pain for Intercontinental Exchange ranged from $154.64 to $162.50. It went from $154.64 on Oct 8, 2026 to $160.71 on Nov 4, 2026. See the ICE max pain history for a longer view.

Intercontinental Exchange is a vertically integrated operator of financial exchanges and provides ancillary data products.