TER · expected move and max pain by expiry
Teradyne is priced to move 15.7% by 2026-Nov-20, with max pain at 350.00.
Options price a ±15.69% move (about $43.06) by 2026-Nov-20 (Fri), a range of 231.31 to 317.43 from the last price of 274.37. Max pain for that expiry is 350.00.
TER
Teradyne, Inc.
Last
274.37 -21.86 (-7.4%)
Next expiry move
±15.69% 21 days
Implied vol
65.4% 21 days
Put / call
10.64
Weekend
Fetched 2026-10-31, 03:31:53 AM ET
Fetched 2026-10-31, 03:31:53 AM ET
expected range last price 274.37 max painAxis 219 to 357, shared by every row
Expiry
Expected range (1 SD)
Expected move
Max pain
Odds inside
2026-Nov-20Fri, 21 days
231.31
317.43
Expected move±15.69%±$43.06
Max pain350.0027.6% above last price
Odds of closing inside69%put/call 10.64
2026-Nov-27Fri, 28 days
226.82
321.92
Expected move±17.33%±$47.55
Max pain350.0027.6% above last price
Odds of closing inside69%put/call 4.18
Not shown: 2026-Nov-06 (no live bid and ask at the strikes around the price), 2026-Nov-13 (no strike quoted below the price yet), 2026-Dec-04 (no strike quoted below the price yet). Those options are too thinly quoted to price a move honestly; each date appears once they are.
Key levels from open interest
260.00 / 320.00
The heaviest put open interest near the price sits at 260.00 and the heaviest call open interest at 320.00, weighted toward strikes close to the last price. Price sometimes gravitates toward large open interest into expiry.
TER max pain by expiry
Teradyne's max pain for 2026-Nov-20 is 350.00, 27.6% 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-20 Fri | 350.00 | +27.6% | 10.64 |
| 2026-Nov-27 Fri | 350.00 | +27.6% | 4.18 |
TER put/call ratio
The put/call ratio for the 2026-Nov-20 expiry is 10.64: 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 TER expected move table
Each row is one expiry. The shaded band is the one-standard-deviation range the option chain implies for TER on that date: the market gives roughly a two-in-three chance that TER closes inside it and a one-in-three chance it closes outside. The black tick is the last traded price, 274.37. 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-27 range (±17.33%) is wider than the 2026-Nov-20 range (±15.69%) 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/TER. Every ticker the site tracks is listed at /stocks.
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