SPDR S&P Semiconductor ET... (XSD)

XSD trades at $329.85, 40.4% above the near-term max pain of $235 expiring Oct 17, 2025 (11 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is rising across expirations ($235-$310), reflecting growing call interest at higher strikes. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for XSD shows an upward trend from 235 to 310, suggesting bullish positioning in longer-dated options. The 28% spread signals divergent expectations across timeframes. Most levels below 329.85 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.