ProShares - S&P 500 Ex-Te... (SPXT)

SPXT trades at $98.05, 6.6% above the near-term max pain of $92 expiring Sep 19, 2025 (30 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($78-$95), signaling increased put positioning or downside protection. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for SPXT shows a downward trend from 95 to 78, indicating bearish sentiment or hedging activity. The 19% spread signals divergent expectations across timeframes. Most levels below 98.05 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.