Defiance Hotel Airline an... (CRUZ)
Defiance Hotel Airline and Cruise ETF Max Pain By Strike
CRUZ trades at $21.88, 15.2% above the near-term max pain of $19 expiring Oct 17, 2025 (46 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($7.5-$460), signaling increased put positioning or downside protection. High dispersion in max pain levels suggests competing forces and potential volatility.
Defiance Hotel Airline and Cruise ETF Max Pain By Expiry
Max pain for CRUZ shows a downward trend from 460 to 7.5, indicating bearish sentiment or hedging activity. The 279% spread signals divergent expectations across timeframes. Levels distributed around 21.88. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.
Max Pain Table
| Expiration Date | Max Pain | Max Pain vs Current Price |
|---|---|---|
| Oct 17, 2025 | 19 | -2.88 (-13.17%) |
| Jan 16, 2026 | 7.5 | -14.38 (-65.72%) |
| Dec 18, 2026 | 460 | 438.12 (2002.24%) |