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 Occidental Petroleum options about one week from expiration was $61.29. The chart above shows the exact max pain for each expiration date.

Occidental Petroleum closed above its near-term max pain on 17 of the last 20 trading days. On Nov 4, 2026 it closed at $57.32, 6.5% below max pain of $61.29.

Over the last 20 trading days, near-term max pain for Occidental Petroleum ranged from $57.57 to $62.00. It went from $58.00 on Oct 8, 2026 to $61.29 on Nov 4, 2026. See the OXY max pain history for a longer view.

Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East.