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 Blue Owl Capital options about one week from expiration was $10.00. The chart above shows the exact max pain for each expiration date.

Blue Owl Capital closed above its near-term max pain on 13 of the last 20 trading days. On Nov 4, 2026 it closed at $10.64, 6.4% above max pain of $10.00.

Over the last 20 trading days, near-term max pain for Blue Owl Capital ranged from $9.00 to $10.00. It went from $9.07 on Oct 8, 2026 to $10.00 on Nov 4, 2026. See the OWL max pain history for a longer view.

Blue Owl is one of the world's largest alternative-asset managers, $319.0 billion in total managed assets, including $190.6 billion in fee-earning AUM, at the end of March 2026.