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 Polaris options about one week from expiration was $54.89. The chart above shows the exact max pain for each expiration date.

Polaris closed above its near-term max pain on 12 of the last 20 trading days. On Nov 4, 2026 it closed at $67.70, 23.3% above max pain of $54.89.

Over the last 20 trading days, near-term max pain for Polaris ranged from $50.86 to $55.00. It went from $54.99 on Oct 8, 2026 to $54.89 on Nov 4, 2026. See the PII max pain history for a longer view.

Polaris designs and manufactures off-road vehicles, including all-terrain vehicles and side-by-side vehicles for recreational, utility, military, and commercial purposes, snowmobiles, and on-road vehicles, along with the related replacement parts, garments, and accessories.