Neos S&P 500(R) High Inco... (SPYI)
Neos S&P 500(R) High Income ETF Max Pain By Strike
SPYI trades at $51.55, 5.2% above the near-term max pain of $49 expiring Sep 19, 2025 (30 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($7-$9600), signaling increased put positioning or downside protection. Key magnetic zone at 49 where 2 expirations converge.
Neos S&P 500(R) High Income ETF Max Pain By Expiry
Max pain for SPYI shows a downward trend from 9600 to 7, indicating bearish sentiment or hedging activity. The 587% spread signals divergent expectations across timeframes. Most levels below 51.55 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 | 49 | -2.55 (-4.94%) |
| Oct 17, 2025 | 51 | -0.55 (-1.06%) |
| Dec 19, 2025 | 49 | -2.55 (-4.94%) |
| Jan 16, 2026 | 7 | -44.55 (-86.42%) |
| Mar 20, 2026 | 50 | -1.55 (-3.00%) |
| Dec 21, 2029 | 9600 | 9548.45 (18524.50%) |