SPDR Portfolio S&P 600 Sm... (SPSM)
SPDR Portfolio S&P 600 Small Cap ETF Max Pain By Strike
SPSM trades at $46.18, 12.6% above the near-term max pain of $41 expiring Sep 19, 2025 (27 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($25-$660), signaling increased put positioning or downside protection. Key magnetic zone at 25 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
SPDR Portfolio S&P 600 Small Cap ETF Max Pain By Expiry
Max pain for SPSM shows a downward trend from 660 to 25, indicating bearish sentiment or hedging activity. The 402% spread signals divergent expectations across timeframes. Most levels below 46.18 may cap rallies. 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 |
|---|---|---|
| Sep 19, 2025 | 41 | -5.18 (-11.21%) |
| Oct 17, 2025 | 25 | -21.18 (-45.86%) |
| Dec 19, 2025 | 38 | -8.18 (-17.71%) |
| Jan 16, 2026 | 660 | 613.82 (1329.25%) |
| Mar 20, 2026 | 25 | -21.18 (-45.86%) |