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 U.S. Bancorp options about one week from expiration was $59.57. The chart above shows the exact max pain for each expiration date.

U.S. Bancorp closed above its near-term max pain on 12 of the last 20 trading days. On Nov 4, 2026 it closed at $61.04, 2.5% above max pain of $59.57.

Over the last 20 trading days, near-term max pain for U.S. Bancorp ranged from $57.00 to $61.00. It went from $60.00 on Oct 8, 2026 to $59.57 on Nov 4, 2026. See the USB max pain history for a longer view.

With assets of around $725 billion as of June 2026, U.S.