JPMorgan Ultra-Short Muni... (JMST)

JMST trades at $50.92, 6.1% above the near-term max pain of $48 expiring Oct 17, 2025 (10 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($48-$95), signaling increased put positioning or downside protection. Key magnetic zone at 48 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for JMST shows a downward trend from 95 to 48, indicating bearish sentiment or hedging activity. The 81% spread signals divergent expectations across timeframes. Most levels below 50.92 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.