NORTHROP GRUMMAN CORP /DE/ (NOC) Max Pain
The max pain price for NORTHROP GRUMMAN CORP /DE/ (NOC) options is $525, 8.6% above the last close of $483.56. Max pain is the strike where the combined payout to all NOC option holders would be smallest at expiration — this page explains how it is computed, where it sits today, and how it has moved over the past year.
Data as of Oct 8, 2026, 3:55 PM ET · OPRA data 15 minutes delayed · For information only — not investment advice.
NOC Max Pain vs. Share Price
NOC daily max pain strike and closing price, past year.
| Max pain strike | $525 |
| Last close | $483.56 |
| Distance to spot | 8.6% above spot |
| Call wall (largest call OI) | $520 |
| Put wall (largest put OI) | $530 |
| Top volume strike | $740 |
$525 is the strike where the combined payout to all option holders would be smallest at expiration — 8.6% above the last close of $483.56. A gap between max pain and the share price is common; max pain describes positioning, not a forecast of where the stock will close. Max pain has fallen from $640 in Feb '26 to $525 today.
How it works: for every strike, sum what all open NOC calls and puts would pay out if the stock closed exactly there at expiration. The strike with the smallest total payout is max pain. Because it is driven by open interest, it moves as positions are opened and closed — it is a map of positioning, not a price target.
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NOC Options FAQ
What is the max pain price for NOC options?
The max pain price for NOC is $525 as of Oct 8, 2026. Max pain is the strike at which the total payout to option holders would be smallest if all contracts expired immediately.
How is NOC max pain calculated?
For every strike, OptiView sums what all open NOC call and put contracts would pay out if the stock closed exactly there at expiration. The strike with the smallest total payout is max pain — it is recomputed every trading day from open interest across all listed expirations.
Does NOC stock really move toward max pain?
Max pain describes option positioning, not a forecast. NOC's max pain of $525 currently sits 8.6% above the share price as of Oct 8, 2026. Prices sometimes drift toward heavy open-interest strikes near expiration as hedges unwind, but the effect is neither reliable nor tradable on its own.
Methodology. IV rank compares the current 30-day at-the-money implied volatility with its highest and lowest values over the past 52 weeks. Max pain is the strike that minimizes the total payout to option holders at expiration. The call and put walls are the strikes carrying the largest call and put open interest across all expirations. Net gamma exposure (GEX) is measured from the dealer perspective. All statistics are derived from delayed OPRA options data.
Options trading involves significant risk, and losses can exceed your initial investment. Always consult a licensed financial professional before making investment decisions. OptiView does not provide financial advice; all figures on this page are descriptive statistics, not recommendations.