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 Spotify Technology options about one week from expiration was $560.00. The chart above shows the exact max pain for each expiration date.

Spotify Technology closed above its near-term max pain on 17 of the last 20 trading days. On Nov 4, 2026 it closed at $627.60, 12.1% above max pain of $560.00.

Over the last 20 trading days, near-term max pain for Spotify Technology ranged from $498.57 to $565.00. It went from $498.57 on Oct 8, 2026 to $560.00 on Nov 4, 2026. See the SPOT max pain history for a longer view.

Spotify is the leading global music streaming service, with over 800 million monthly active users and more than 300 million paying subscribers, with the latter constituting the firm's premium segment.