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 Toll Brothers options about one week from expiration was $140.21. The chart above shows the exact max pain for each expiration date.

Toll Brothers closed above its near-term max pain on 11 of the last 20 trading days. On Nov 4, 2026 it closed at $158.50, 13.0% above max pain of $140.21.

Over the last 20 trading days, near-term max pain for Toll Brothers ranged from $135.00 to $140.26. It went from $140.01 on Oct 8, 2026 to $140.21 on Nov 4, 2026. See the TOL max pain history for a longer view.

Toll Brothers is the leading luxury homebuilder in the United States with an average sale price well above that of public competitors.