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 Johnson Controls International options about one week from expiration was $146.71. The chart above shows the exact max pain for each expiration date.

Johnson Controls International closed above its near-term max pain on 17 of the last 20 trading days. On Nov 4, 2026 it closed at $140.51, 4.2% below max pain of $146.71.

Over the last 20 trading days, near-term max pain for Johnson Controls International ranged from $136.07 to $150.00. It went from $140.07 on Oct 8, 2026 to $146.71 on Nov 4, 2026. See the JCI max pain history for a longer view.

Following Johnson Controls' divestiture of its residential and light commercial HVAC businesses to Bosch in 2025, nearly all of its revenue comes from commercial HVAC (60%) and fire and security products and services (40%).