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 Essential Utilities options about one week from expiration was $40.65. The chart above shows the exact max pain for each expiration date.

Essential Utilities closed above its near-term max pain on 12 of the last 20 trading days. On Nov 4, 2026 it closed at $45.14, 11.1% above max pain of $40.65.

Over the last 20 trading days, near-term max pain for Essential Utilities ranged from $40.00 to $42.39. It went from $40.00 on Oct 8, 2026 to $40.65 on Nov 4, 2026. See the WTRG max pain history for a longer view.

Essential Utilities is a Pennsylvania-based holding company for US water, wastewater, and natural gas distribution utilities.