CLOV · expected move and max pain by expiry
Clover Health Investments is priced to move 17.1% by 2026-Nov-06, with max pain at 4.50.
Options price a ±17.07% move (about $0.76) by 2026-Nov-06 (Fri), a range of 3.70 to 5.22 from the last price of 4.46. Max pain for that expiry is 4.50.
CLOV
Clover Health Investments, Corp.
Last
4.46 -0.12 (-2.6%)
Next expiry move
±17.07% 7 days
Implied vol
123.3% 7 days
Put / call
14.94
Weekend
Fetched 2026-10-31, 01:54:06 AM ET
Fetched 2026-10-31, 01:54:06 AM ET
expected range last price 4.46 max painAxis 4 to 5, shared by every row
Expiry
Expected range (1 SD)
Expected move
Max pain
Odds inside
2026-Nov-06Fri, 7 days
3.70
5.22
Expected move±17.07%±$0.76
Max pain4.500.9% above last price
Odds of closing inside70%put/call 14.94
2026-Nov-13Fri, 14 days
3.64
5.28
Expected move±18.39%±$0.82
Max pain4.0010.3% below last price
Odds of closing inside69%put/call 0.09
2026-Nov-20Fri, 21 days
3.61
5.31
Expected move±18.97%±$0.85
Max pain4.0010.3% below last price
Odds of closing inside69%put/call 0.12
Not shown: 2026-Nov-27 (bid/ask spread 49% of the option prices), 2026-Dec-04 (no live bid and ask at the strikes around the price). Those options are too thinly quoted to price a move honestly; each date appears once they are.
Key levels from open interest
4.00 / 5.00
The heaviest put open interest near the price sits at 4.00 and the heaviest call open interest at 5.00, weighted toward strikes close to the last price. Price sometimes gravitates toward large open interest into expiry.
CLOV max pain by expiry
Clover Health Investments's max pain for 2026-Nov-06 is 4.50, 0.9% above the last price. It is the strike at which the calls and puts open for that expiry would pay out the least in total, computed from open interest. Price sometimes drifts toward it in the final session because of dealer hedging; treat it as a reference level, not a target. How max pain is calculated.
| Expiry | Max pain | From last price | Put/call |
|---|---|---|---|
| 2026-Nov-06 Fri | 4.50 | +0.9% | 14.94 |
| 2026-Nov-13 Fri | 4.00 | -10.3% | 0.09 |
| 2026-Nov-20 Fri | 4.00 | -10.3% | 0.12 |
CLOV put/call ratio
The put/call ratio for the 2026-Nov-06 expiry is 14.94: above 1, so puts outnumber calls on that date. Readings well below 0.7 are often read as complacent and above 1.2 as fearful, and extremes are sometimes taken as contrarian signals, but on index products like SPY a high ratio is normal because puts are bought as insurance. It is a sentiment gauge, not a direction call. What the ratio measures and what it does not, or compare it with every tracked stock's put/call ratio today.
Reading the CLOV expected move table
Each row is one expiry. The shaded band is the one-standard-deviation range the option chain implies for CLOV on that date: the market gives roughly a two-in-three chance that CLOV closes inside it and a one-in-three chance it closes outside. The black tick is the last traded price, 4.46. The diamond is max pain, the strike where option holders would collect the least if the stock settled there.
The range widens with time because uncertainty compounds with the square root of time: the 2026-Nov-20 range (±18.97%) is wider than the 2026-Nov-06 range (±17.07%) even though the daily volatility behind both is the same. Read the methodology for the formulas, or the guide to what the expected move means in practice.
Figures are derived from delayed public option data and recalculated through the trading day. Nothing on this page is investment advice. Machine-readable version: /api/expected-move/CLOV. Every ticker the site tracks is listed at /stocks.
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