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 Nike options about one week from expiration was $37.64. The chart above shows the exact max pain for each expiration date.

Nike closed above its near-term max pain on 18 of the last 20 trading days. On Nov 4, 2026 it closed at $40.49, 7.6% above max pain of $37.64.

Over the last 20 trading days, near-term max pain for Nike ranged from $34.64 to $37.71. It went from $35.71 on Oct 8, 2026 to $37.64 on Nov 4, 2026. See the NKE max pain history for a longer view.

Since its founding in 1964, Nike has become the world's largest sports performance and lifestyle merchandiser.