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 Watsco options about one week from expiration was $300.00. The chart above shows the exact max pain for each expiration date.

Watsco closed above its near-term max pain on 10 of the last 20 trading days. On Nov 4, 2026 it closed at $319.35, 6.5% above max pain of $300.00.

Over the last 20 trading days, near-term max pain for Watsco ranged from $300.00 to $310.09. It went from $310.09 on Oct 8, 2026 to $300.00 on Nov 4, 2026. See the WSO max pain history for a longer view.

Watsco is the largest HVAC and refrigeration products distributor in North America with approximately 13% market share.