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 Zscaler options about one week from expiration was $238.57. The chart above shows the exact max pain for each expiration date.

Zscaler closed above its near-term max pain on 14 of the last 20 trading days. On Nov 4, 2026 it closed at $224.40, 5.9% below max pain of $238.57.

Over the last 20 trading days, near-term max pain for Zscaler ranged from $195.00 to $240.00. It went from $196.07 on Oct 8, 2026 to $238.57 on Nov 4, 2026. See the ZS max pain history for a longer view.

Zscaler is a software-as-a-service, or SaaS, firm focusing on providing cloud-native cybersecurity solutions to primarily enterprise customers.