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 Trex options about one week from expiration was $50.61. The chart above shows the exact max pain for each expiration date.

Trex closed above its near-term max pain on 16 of the last 20 trading days. On Nov 4, 2026 it closed at $57.18, 13.0% above max pain of $50.61.

Over the last 20 trading days, near-term max pain for Trex ranged from $45.00 to $50.61. It went from $45.03 on Oct 8, 2026 to $50.61 on Nov 4, 2026. See the TREX max pain history for a longer view.

Trex Co Inc is a manufacturer of wooden alternative decking products.