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 Snap options about one week from expiration was $5.50. The chart above shows the exact max pain for each expiration date.

Snap closed above its near-term max pain on 18 of the last 20 trading days. On Nov 4, 2026 it closed at $5.91, 7.5% above max pain of $5.50.

Over the last 20 trading days, near-term max pain for Snap ranged from $5.50 to $6.00. It went from $5.50 on Oct 8, 2026 to $5.50 on Nov 4, 2026. See the SNAP max pain history for a longer view.

Snap is a technology company best known for its marquis social media application, Snapchat, a visual messaging application that has amassed hundreds of millions of users.