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 Western Alliance Bancorporation options about one week from expiration was $77.59. The chart above shows the exact max pain for each expiration date.

Western Alliance Bancorporation closed above its near-term max pain on 3 of the last 20 trading days. On Nov 4, 2026 it closed at $79.28, 2.2% above max pain of $77.59.

Over the last 20 trading days, near-term max pain for Western Alliance Bancorporation ranged from $77.59 to $80.01. It went from $80.01 on Oct 8, 2026 to $77.59 on Nov 4, 2026. See the WAL max pain history for a longer view.

Western Alliance Bancorp provides a full spectrum of customized loan, deposit, and treasury management capabilities, including funds transfer and other digital payment offerings.