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 Kinder Morgan options about one week from expiration was $33.29. The chart above shows the exact max pain for each expiration date.

Kinder Morgan closed above its near-term max pain on 16 of the last 20 trading days. On Nov 4, 2026 it closed at $31.52, 5.3% below max pain of $33.29.

Over the last 20 trading days, near-term max pain for Kinder Morgan ranged from $31.36 to $33.86. It went from $31.36 on Oct 8, 2026 to $33.29 on Nov 4, 2026. See the KMI max pain history for a longer view.

Kinder Morgan operates natural gas, crude oil, and refined products pipelines connecting producing regions to demand centers.