VanEck Merk Gold ETF (OUNZ)

OUNZ trades at $32.23, 7.4% above the near-term max pain of $30 expiring Sep 19, 2025 (30 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($29-$97.5), signaling increased put positioning or downside protection. Key magnetic zone at 32 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for OUNZ shows a downward trend from 97.5 to 29, indicating bearish sentiment or hedging activity. The 155% spread signals divergent expectations across timeframes. Most levels below 32.23 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.