# TPL Max Pain (Strike Pegger)

> TPL max pain chart: the strike where option writers' aggregate liability is minimized, daily and by expiration.

Data as of Nov 11, 2026 (end of day).

Max Pain© analysis: the peg is the strike where call and put writers' aggregate liability is minimized; the target price (bias) is where call and put liability converge.

## TPL quote

| Field | Value |
|---|---|
| Last | 281.42 |
| Change | +6.79 |
| Open | 280.00 |
| Previous | 274.63 |
| High | 284.00 |
| Low | 275.00 |
| Bid | - |
| Ask | - |
| Volume | 437,228 |
| Trades | - |
| Dividend | 0.60 |
| Yield | 0.87% |
| Ex-Div | Dec 1, 2026 |
| Split Date | Dec 23, 2025 |
| Impl Vol | 46.4% |
| Hist Vol | 49.6% |
| Opt Volume | 659 |
| Open Int | 21,761 |

Expiration: Nov 20, 2026.

All expirations: 2026-11-20, 2026-12-18, 2027-01-15, 2027-04-16, 2027-09-17.

Change the view with query parameters: `expiration` (YYYY-MM-DD, the daily history and the by-strike profile), `date` (an earlier session). Example: `/quotes/strike-pegger/TPL.md?expiration=2026-11-20`.

## Daily History — expiration Nov 20, 2026

| Date | Strike Peg | Stock Price | Target Price (bias) | Call OI | Put OI |
|---|---:|---:|---:|---:|---:|
| Nov 11, 2026 | 320.00 | 281.42 | 317.79 | 2,317 | 1,475 |
| Nov 10, 2026 | 330.00 | 274.63 | 322.16 | 2,270 | 1,500 |
| Nov 9, 2026 | 330.00 | 278.28 | 322.44 | 2,291 | 1,510 |
| Nov 6, 2026 | 330.00 | 272.36 | 327.68 | 2,238 | 1,514 |
| Nov 5, 2026 | 340.00 | 272.18 | 335.53 | 2,319 | 1,592 |
| Nov 4, 2026 | 340.00 | 287.65 | 345.13 | 2,179 | 1,397 |
| Nov 3, 2026 | 340.00 | 332.00 | 343.89 | 2,162 | 1,196 |
| Nov 2, 2026 | 340.00 | 329.95 | 344.07 | 2,146 | 1,193 |
| Oct 30, 2026 | 340.00 | 331.68 | 344.23 | 2,090 | 1,215 |

## Open Interest by Strike

**Strike Peg is 320.00, Bias: 317.79** (expiration Nov 20, 2026) — 13.7% above the last price of 281.42; open interest 2.32K calls / 1.48K puts (put/call 0.64).

Net Liability is the call plus put writers' liability if the stock settles at the strike; the peg is its minimum. Showing 32 of 42 strikes: those with open interest; the peg uses every strike.

| Strike | Call OI | Put OI | Net Liability |
|---:|---:|---:|---:|
| 150.00 | 1 | 0 | 225,960 |
| 175.00 | 1 | 0 | 189,110 |
| 180.00 | 1 | 0 | 181,745 |
| 185.00 | 2 | 0 | 174,385 |
| 240.00 | 16 | 70 | 93,535 |
| 250.00 | 1 | 144 | 79,695 |
| 260.00 | 0 | 45 | 67,305 |
| 270.00 | 70 | 125 | 55,365 |
| 280.00 | 28 | 45 | 45,375 |
| 290.00 | 20 | 35 | 36,115 |
| 300.00 | 137 | 235 | 27,405 |
| 310.00 | 61 | 102 | 22,415 |
| 320.00 | 84 | 304 | 19,055 |
| 330.00 | 69 | 92 | 19,575 |
| 340.00 | 221 | 164 | 21,705 |
| 350.00 | 207 | 68 | 27,685 |
| 360.00 | 166 | 13 | 36,415 |
| 370.00 | 152 | 33 | 46,935 |
| 380.00 | 204 | 0 | 59,305 |
| 390.00 | 153 | 0 | 73,715 |
| 400.00 | 124 | 0 | 89,655 |
| 410.00 | 135 | 0 | 106,835 |
| 420.00 | 203 | 0 | 125,365 |
| 430.00 | 59 | 0 | 145,925 |
| 440.00 | 53 | 0 | 167,075 |
| 450.00 | 54 | 0 | 188,755 |
| 460.00 | 35 | 0 | 210,975 |
| 470.00 | 6 | 0 | 233,545 |
| 480.00 | 8 | 0 | 256,175 |
| 490.00 | 10 | 0 | 278,885 |
| 500.00 | 15 | 0 | 301,695 |
| 510.00 | 21 | 0 | 324,655 |

## By Expiration

| Expiration | Strike Peg | Stock Price | Target Price (bias) | Call OI | Put OI |
|---|---:|---:|---:|---:|---:|
| Nov 20, 2026 | 320.00 | 281.42 | 317.79 | 2,317 | 1,475 |
| Nov 21, 2026 | 320.00 | 281.42 | 317.79 | 2,317 | 1,475 |
| Dec 19, 2026 | 320.00 | 281.42 | 326.51 | 378 | 710 |
| Jan 16, 2027 | 350.00 | 281.42 | 334.85 | 5,978 | 5,284 |
| Apr 17, 2027 | 300.00 | 281.42 | 308.90 | 4,291 | 1,292 |
| Sep 18, 2027 | 270.00 | 281.42 | 262.50 | 25 | 11 |

Max Pain© is a registered trademark. The peg is computed from open interest in the day's option snapshot.

## More for TPL

- [Quote](https://www.optionistics.com/quotes/stock-quotes/TPL.md)
- [Option chain](https://www.optionistics.com/quotes/stock-option-chains/TPL.md)
- [Price history](https://www.optionistics.com/quotes/stock-prices/TPL.md)
- [10 day snapshot](https://www.optionistics.com/snapshot.md?symbol=TPL)
- [Strike Pegger (max pain)](https://www.optionistics.com/quotes/strike-pegger/TPL.md)
- [Volatility skew](https://www.optionistics.com/screener/volatility-skew/TPL.md)
- [Put/call ratio](https://www.optionistics.com/screener/put-call-ratio/TPL.md)
- [Trade finder](https://www.optionistics.com/screener/stock-trade-finder/TPL.md)

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