SPDR Portfolio S&P 500 Hi... (SPYD)
SPDR Portfolio S&P 500 High Dividend ETF Max Pain By Strike
SPYD trades at $44.96, 7.0% above the near-term max pain of $42 expiring Sep 19, 2025 (21 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is rising across expirations ($8-$43), reflecting growing call interest at higher strikes. Key magnetic zone at 42 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
SPDR Portfolio S&P 500 High Dividend ETF Max Pain By Expiry
Max pain for SPYD shows an upward trend from 8 to 43, suggesting bullish positioning in longer-dated options. The 100% spread signals divergent expectations across timeframes. Most levels below 44.96 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 | 42 | -2.96 (-6.58%) |
| Oct 17, 2025 | 43 | -1.96 (-4.36%) |
| Dec 19, 2025 | 42 | -2.96 (-6.58%) |
| Jan 16, 2026 | 8 | -36.96 (-82.21%) |
| Mar 20, 2026 | 40 | -4.96 (-11.03%) |