First Trust Water ETF (FIW)
First Trust Water ETF Max Pain By Strike
FIW trades at $112.36, 6.0% above the near-term max pain of $106 expiring Sep 19, 2025 (17 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is rising across expirations ($102-$106), reflecting growing call interest at higher strikes. High dispersion in max pain levels suggests competing forces and potential volatility.
First Trust Water ETF Max Pain By Expiry
Max pain for FIW shows an upward trend from 102 to 106, suggesting bullish positioning in longer-dated options. The 4% spread suggests strong consensus on fair value. Most levels below 112.36 may cap rallies. 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 |
|---|---|---|
| Sep 19, 2025 | 106 | -6.36 (-5.66%) |
| Oct 17, 2025 | 104 | -8.36 (-7.44%) |
| Dec 19, 2025 | 105 | -7.36 (-6.55%) |
| Mar 20, 2026 | 102 | -10.36 (-9.22%) |