Invesco S&P 500 Quality E... (SPHQ)

SPHQ trades at $74, 5.7% above the near-term max pain of $70 expiring Oct 17, 2025 (11 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is stable across expirations ($68-$70), indicating stable market expectations. Key magnetic zone at 69 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for SPHQ shows stable levels around 69.00, reflecting balanced market expectations. The 3% spread suggests strong consensus on fair value. Most levels below 74 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.