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 Spire options about one week from expiration was $85.00. The chart above shows the exact max pain for each expiration date.

Spire closed above its near-term max pain on 13 of the last 20 trading days. On Nov 4, 2026 it closed at $90.31, 6.2% above max pain of $85.00.

Over the last 20 trading days, near-term max pain for Spire ranged from $52.01 to $86.00. It went from $85.06 on Oct 8, 2026 to $85.00 on Nov 4, 2026. See the SR max pain history for a longer view.

Spire Inc. is the holding company for Spire Missouri, Spire Alabama, other gas utilities, and gas-related businesses, focused on growing organically, investing in infrastructure, and advancing through innovation.