First Trust Long/Short Eq... (FTLS)

FTLS trades at $67.6, 20.7% above the near-term max pain of $56 expiring Sep 19, 2025 (27 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is rising across expirations ($7-$62), reflecting growing call interest at higher strikes. Key magnetic zone at 62 where 3 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for FTLS shows an upward trend from 7 to 62, suggesting bullish positioning in longer-dated options. The 107% spread signals divergent expectations across timeframes. Most levels below 67.6 may cap rallies. Strong magnetic level at 62 (3 expirations). Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.