SPDR S&P MIDCAP 400 ETF T... (MDY)
SPDR S&P MIDCAP 400 Max Pain By Strike
MDY trades at $593.36, 6.0% above the near-term max pain of $560 expiring Sep 19, 2025 (23 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is rising across expirations ($500-$585), reflecting growing call interest at higher strikes. Key magnetic zone at 560 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
SPDR S&P MIDCAP 400 Max Pain By Expiry
Max pain for MDY shows an upward trend from 500 to 585, suggesting bullish positioning in longer-dated options. The 15% spread signals divergent expectations across timeframes. Most levels below 593.36 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 | 560 | -33.36 (-5.62%) |
| Oct 17, 2025 | 555 | -38.36 (-6.46%) |
| Dec 19, 2025 | 580 | -13.36 (-2.25%) |
| Jan 16, 2026 | 500 | -93.36 (-15.73%) |
| Mar 20, 2026 | 560 | -33.36 (-5.62%) |
| Jun 18, 2026 | 585 | -8.36 (-1.41%) |