The Max Pain, or the max pain price, is the strike price with the most open options contracts (i.e., puts and calls). It is the price at which shares would cause financial losses for the largest number of option holders at expiration.The max pain price is the strike price with the most open options contracts, and it is typically used in options trading. It is also known as the max pain, or the max pain price.This strategy is a way of protecting against a sudden increase in volatility. It can be used to protect against an increase in volatility that would lead to significant losses for an investor.