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 Royal Gold options about one week from expiration was $240.84. The chart above shows the exact max pain for each expiration date.

Royal Gold closed above its near-term max pain on 2 of the last 20 trading days. On Nov 4, 2026 it closed at $246.11, 2.2% above max pain of $240.84.

Over the last 20 trading days, near-term max pain for Royal Gold ranged from $240.00 to $250.11. It went from $250.11 on Oct 8, 2026 to $240.84 on Nov 4, 2026. See the RGLD max pain history for a longer view.

Royal Gold Inc enquires and manages precious metal royalties and streams with a focus on gold.