iShares Russell Top 200 G... (IWY)

IWY trades at $274.5, pinned near the near-term max pain of $270 expiring Oct 17, 2025 (11 days). Price stability likely with balanced options positioning at this level. Max pain is falling across expirations ($8-$270), signaling increased put positioning or downside protection. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for IWY shows a downward trend from 270 to 8, indicating bearish sentiment or hedging activity. The 141% spread signals divergent expectations across timeframes. Most levels below 274.5 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.