VanEck Semiconductor ETF (SMH)
VanEck Semiconductor ETF Max Pain By Strike
SMH trades at $286.95, 2.7% below the near-term max pain of $295 expiring Aug 22, 2025 (2 days). Price stability likely with balanced options positioning at this level. Max pain is stable across expirations ($75-$295), indicating stable market expectations. Key magnetic zone at 295 where 4 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
VanEck Semiconductor ETF Max Pain By Expiry
Max pain for SMH shows stable levels around 257.11, reflecting balanced market expectations. The 86% spread signals divergent expectations across timeframes. Most levels below 286.95 may cap rallies. Strong magnetic level at 295 (4 expirations). 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 |
|---|---|---|
| Aug 22, 2025 | 295 | 8.05 (2.81%) |
| Aug 29, 2025 | 295 | 8.05 (2.81%) |
| Sep 5, 2025 | 290 | 3.05 (1.06%) |
| Sep 12, 2025 | 295 | 8.05 (2.81%) |
| Sep 19, 2025 | 275 | -11.95 (-4.16%) |
| Sep 26, 2025 | 295 | 8.05 (2.81%) |
| Oct 17, 2025 | 275 | -11.95 (-4.16%) |
| Nov 21, 2025 | 265 | -21.95 (-7.65%) |
| Dec 19, 2025 | 250 | -36.95 (-12.88%) |
| Jan 16, 2026 | 260 | -26.95 (-9.39%) |
| Feb 20, 2026 | 285 | -1.95 (-0.68%) |
| Mar 20, 2026 | 280 | -6.95 (-2.42%) |
| May 15, 2026 | 75 | -211.95 (-73.86%) |
| Jun 18, 2026 | 270 | -16.95 (-5.91%) |
| Sep 18, 2026 | 250 | -36.95 (-12.88%) |
| Dec 18, 2026 | 220 | -66.95 (-23.33%) |
| Jan 15, 2027 | 245 | -41.95 (-14.62%) |
| Jun 17, 2027 | 215 | -71.95 (-25.07%) |
| Dec 17, 2027 | 250 | -36.95 (-12.88%) |