Direxion Daily S&P 500 Be... (SPXS)
Direxion Daily S&P 500 Bear 3X Shares Max Pain By Strike
SPXS trades at $4.36, 9.0% above the near-term max pain of $4 expiring Aug 22, 2025 (2 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is stable across expirations ($4-$7), indicating stable market expectations. Key magnetic zone at 4 where 6 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
Direxion Daily S&P 500 Bear 3X Shares Max Pain By Expiry
Max pain for SPXS shows stable levels around 4.50, reflecting balanced market expectations. The 67% spread signals divergent expectations across timeframes. Levels distributed around 4.36. Strong magnetic level at 4 (6 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 | 4 | -0.35 (-8.05%) |
| Aug 29, 2025 | 4 | -0.35 (-8.05%) |
| Sep 5, 2025 | 4.5 | 0.15 (3.45%) |
| Sep 12, 2025 | 4.5 | 0.15 (3.45%) |
| Sep 19, 2025 | 4 | -0.35 (-8.05%) |
| Sep 26, 2025 | 4 | -0.35 (-8.05%) |
| Oct 17, 2025 | 4 | -0.35 (-8.05%) |
| Jan 16, 2026 | 7 | 2.65 (60.92%) |
| Apr 17, 2026 | 4 | -0.35 (-8.05%) |
| Jan 15, 2027 | 5 | 0.65 (14.94%) |