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 Blackstone options about one week from expiration was $117.86. The chart above shows the exact max pain for each expiration date.

Blackstone closed above its near-term max pain on 9 of the last 20 trading days. On Nov 4, 2026 it closed at $125.57, 6.5% above max pain of $117.86.

Over the last 20 trading days, near-term max pain for Blackstone ranged from $110.00 to $129.00. It went from $127.57 on Oct 8, 2026 to $117.86 on Nov 4, 2026. See the BX max pain history for a longer view.

Blackstone is the world's largest alternative-asset manager with $1.346 trillion in total assets under management, including $961.6 billion in fee-earning assets under management, at the end of June 2026.