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 Terreno Realty options about one week from expiration was $60.86. The chart above shows the exact max pain for each expiration date.

Terreno Realty closed above its near-term max pain on 20 of the last 20 trading days. On Nov 4, 2026 it closed at $68.03, 11.8% above max pain of $60.86.

Over the last 20 trading days, near-term max pain for Terreno Realty ranged from $40.00 to $62.20. It went from $59.94 on Oct 8, 2026 to $60.86 on Nov 4, 2026. See the TRNO max pain history for a longer view.

Terreno Realty Corp is a real estate investment trust engaged in acquiring, owning, and operating industrial real estate in six coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C.