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 Constellation Brands options about one week from expiration was $128.14. The chart above shows the exact max pain for each expiration date.

Constellation Brands closed above its near-term max pain on 20 of the last 20 trading days. On Nov 4, 2026 it closed at $145.48, 13.5% above max pain of $128.14.

Over the last 20 trading days, near-term max pain for Constellation Brands ranged from $117.86 to $130.00. It went from $119.43 on Oct 8, 2026 to $128.14 on Nov 4, 2026. See the STZ max pain history for a longer view.

Constellation Brands is the largest provider of alcoholic beverages across the beer, wine, and spirits categories in the US, generating more than 90% of revenue from Mexican beer imports under top-selling brands such as Modelo and Corona.