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 Charles Schwab options about one week from expiration was $91.43. The chart above shows the exact max pain for each expiration date.

Charles Schwab closed above its near-term max pain on 1 of the last 20 trading days. On Nov 4, 2026 it closed at $93.37, 2.1% above max pain of $91.43.

Over the last 20 trading days, near-term max pain for Charles Schwab ranged from $90.86 to $100.00. It went from $99.57 on Oct 8, 2026 to $91.43 on Nov 4, 2026. See the SCHW max pain history for a longer view.

Charles Schwab is one of the largest retail-oriented financial-services companies in the US, with $11.9 trillion in client assets across its brokerage, banking, asset management, custody, financial advisory, and wealth management businesses at the end of 2025.