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 LPL Financial options about one week from expiration was $310.74. The chart above shows the exact max pain for each expiration date.

LPL Financial closed above its near-term max pain on 7 of the last 20 trading days. On Nov 4, 2026 it closed at $311.24, close to max pain of $310.74.

Over the last 20 trading days, near-term max pain for LPL Financial ranged from $310.74 to $347.55. It went from $319.90 on Oct 8, 2026 to $310.74 on Nov 4, 2026. See the LPLA max pain history for a longer view.

LPL Financial is the largest US independent broker/dealer, with more than 32,000 financial advisors, roughly 11 million customer accounts, and roughly $2.4 trillion in client assets under management or advisory affiliated with its platform at the end of 2025.