Direxion Daily Small Cap ... (TZA)
Direxion Daily Small Cap Bear 3X Shares Max Pain By Strike
TZA trades at $9.36, 6.4% below the near-term max pain of $10 expiring Aug 29, 2025 (3 days). Look for upward drift as max pain acts as a magnet pulling price higher. Max pain is rising across expirations ($5.5-$17), reflecting growing call interest at higher strikes. Key magnetic zone at 12 where 3 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
Direxion Daily Small Cap Bear 3X Shares Max Pain By Expiry
Max pain for TZA shows an upward trend from 5.5 to 17, suggesting bullish positioning in longer-dated options. The 105% spread signals divergent expectations across timeframes. Most levels above 9.36 could support dips. Strong magnetic level at 12 (3 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 29, 2025 | 10 | 0.64 (6.89%) |
| Sep 5, 2025 | 10.5 | 1.14 (12.24%) |
| Sep 12, 2025 | 11.5 | 2.14 (22.93%) |
| Sep 19, 2025 | 10 | 0.64 (6.89%) |
| Sep 26, 2025 | 11 | 1.64 (17.58%) |
| Oct 3, 2025 | 5.5 | -3.86 (-41.21%) |
| Oct 17, 2025 | 17 | 7.64 (81.72%) |
| Dec 19, 2025 | 7.5 | -1.86 (-19.83%) |
| Jan 16, 2026 | 14 | 4.64 (49.65%) |
| Apr 17, 2026 | 12 | 2.64 (28.27%) |
| Jan 15, 2027 | 12 | 2.64 (28.27%) |