ProShares - S&P 500 High ... (ISPY)

ISPY trades at $43.45, 6.0% above the near-term max pain of $41 expiring Sep 19, 2025 (31 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($34-$43), signaling increased put positioning or downside protection. Key magnetic zone at 41 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for ISPY shows a downward trend from 43 to 34, indicating bearish sentiment or hedging activity. The 23% spread signals divergent expectations across timeframes. Most levels below 43.45 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.