Invesco S&P SmallCap 600 ... (RWJ)

RWJ trades at $49.29, 26.4% above the near-term max pain of $39 expiring Oct 17, 2025 (11 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($38-$950), signaling increased put positioning or downside protection. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for RWJ shows a downward trend from 950 to 38, indicating bearish sentiment or hedging activity. The 409% spread signals divergent expectations across timeframes. Most levels below 49.29 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.