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 Thermo Fisher Scientific options about one week from expiration was $685.71. The chart above shows the exact max pain for each expiration date.

Thermo Fisher Scientific closed above its near-term max pain on 19 of the last 20 trading days. On Nov 4, 2026 it closed at $706.13, 3.0% above max pain of $685.71.

Over the last 20 trading days, near-term max pain for Thermo Fisher Scientific ranged from $634.29 to $685.71. It went from $656.07 on Oct 8, 2026 to $685.71 on Nov 4, 2026. See the TMO max pain history for a longer view.

Thermo Fisher Scientific sells scientific instruments and laboratory equipment, diagnostics consumables, and life science reagents.