First Trust NASDAQ-100 Ex... (QQXT)

QQXT trades at $99.36, 6.8% above the near-term max pain of $93 expiring Oct 17, 2025 (11 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($86-$93), signaling increased put positioning or downside protection. Key magnetic zone at 93 where 3 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for QQXT shows a downward trend from 93 to 86, indicating bearish sentiment or hedging activity. The 8% spread suggests strong consensus on fair value. Most levels below 99.36 may cap rallies. Strong magnetic level at 93 (3 expirations). Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.