Free BKNG Max Pain - Booking Holdings Max Pain
Use free BKNG Max Pain to find the candidate strike with the lowest combined call and put intrinsic value for Booking Holdings at one selected expiration. Compare the full pain curve alongside business context that includes product demand, regulation, company results, and customer spending.
How to use the BKNG Max Pain tool
Confirm BKNG
BKNG is already entered. Keep it or search another ticker.
Choose an expiration
Select the expiration you want the calculation to use.
Calculate Max Pain
Generate the result, then compare Max Pain with price and the full pain chart.
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What is Max Pain?
Max Pain is the strike price at which option sellers (market makers) would lose the least amount of money if the stock expired at that price. The theory suggests stocks tend to gravitate toward this price near expiration.
Chart Legend:
- Green bars: Call option pain per strike
- Red bars: Put option pain per strike
- Blue line: Max Pain strike
- Red line: Current underlying price
Key levels
BKNG max pain in detail
Computed
Spot
$163.70
Max pain strike
$165
0.8% above spot
Expiration
2026-09-25
Lowest total pain by strike
| Strike | Call pain | Put pain | Total |
|---|---|---|---|
| $165 | $121K | $2.1M | $2.2M |
| $167.50 | $785K | $1.6M | $2.3M |
| $162.50 | $84K | $2.6M | $2.7M |
| $170 | $1.7M | $1.1M | $2.8M |
| $160 | $64K | $3.4M | $3.5M |
Reviewed by the QuantWheel research team. Computed from listed BKNG open interest for the expiration shown; a reference level, not a forecast. Read how we compute BKNG max pain.
Continue with BKNG options analysis
Open the Max Pain workspace when you want to keep the calculation alongside your other options tools.
Understanding BKNG Max Pain
The BKNG options chain represents Booking Holdings. Evaluate its open-interest distribution alongside business context that includes product demand, regulation, company results, and customer spending. Compare Max Pain across available expirations because the distribution can differ from one expiration to another.
For BKNG, the calculator tests each candidate strike against call and put open interest for the selected expiration. Review the full curve with the result. The calculation describes the selected chain and does not predict where Booking Holdings will trade.
How the BKNG Max Pain calculation works
QuantWheel tests each strike as a possible expiration price. It adds the intrinsic value of open calls and puts at that price, weighted by open interest and the contract multiplier. The strike with the lowest combined value is displayed as BKNG Max Pain.
This calculation uses the selected options chain. It does not measure dealer inventory, intent, future order flow or the probability that BKNG will finish at the calculated strike.
BKNG Max Pain FAQ
What is BKNG Max Pain?
BKNG Max Pain is the candidate expiration price where the combined intrinsic value of outstanding BKNG calls and puts is lowest for the selected expiration. It is a calculation based on open interest, not a prediction of where BKNG will trade.
How is BKNG Max Pain calculated?
For each candidate price, QuantWheel calculates call and put intrinsic value across the selected BKNG options chain, multiplies each value by open interest and the 100-share contract multiplier, then adds the totals. The candidate price with the lowest combined total is the Max Pain strike.
Which BKNG expiration should I select?
Select the exact BKNG expiration you want to examine. Weekly and monthly expirations can have different open-interest distributions, so compare them separately instead of applying one result to every date.
How should I use BKNG Max Pain?
Compare the calculated strike with BKNG price and the full call and put pain chart for the same expiration. Use it as expiration context alongside liquidity, gamma exposure and your own risk plan rather than as a standalone trading signal.
Is BKNG Max Pain a price target?
No. BKNG Max Pain does not forecast price and does not prove that traders or market makers will move BKNG toward a particular strike. News, volatility, liquidity and positioning can outweigh any expiration-related pinning effect.
Is the BKNG Max Pain calculator free?
Yes. QuantWheel provides a limited number of free BKNG Max Pain calculations. The calculator shows how many free calculations remain before you run another expiration.