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 United Bankshares options about one week from expiration was $45.00. The chart above shows the exact max pain for each expiration date.

United Bankshares closed above its near-term max pain on 19 of the last 20 trading days. On Nov 4, 2026 it closed at $49.24, 9.4% above max pain of $45.00.

Over the last 20 trading days, near-term max pain for United Bankshares ranged from $45.00 to $46.37. It went from $45.09 on Oct 8, 2026 to $45.00 on Nov 4, 2026. See the UBSI max pain history for a longer view.

United Bankshares Inc is a financial holding company that provides banking services.