Max pain is the price where the total value of all open calls and puts would be lowest at expiration, so option buyers as a group would lose the most. Some traders watch it as a level the stock may drift toward near expiration, because option sellers, often market makers, hedge their positions in ways that can pull the price toward heavily traded strikes. It is a theory, not a guarantee.

As of the Nov 4, 2026 close, max pain for Ares Management options about one week from expiration was $118.29. The chart above shows the exact max pain for each expiration date.

Ares Management closed above its near-term max pain on 11 of the last 20 trading days. On Nov 4, 2026 it closed at $136.83, 15.7% above max pain of $118.29.

Over the last 20 trading days, near-term max pain for Ares Management ranged from $114.00 to $132.00. It went from $124.71 on Oct 8, 2026 to $118.29 on Nov 4, 2026. See the ARES max pain history for a longer view.

Ares Management is one of the world's largest alternative-asset managers, with $671.3 billion in total assets under management, including $409.9 billion in fee-earning AUM, at the end of June 2026.