Apellis Pharmaceuticals I... (APLS)

APLS trades at $23.8, 19.0% above the near-term max pain of $20 expiring Oct 17, 2025 (12 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($13-$35), signaling increased put positioning or downside protection. Key magnetic zone at 20 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for APLS shows a downward trend from 35 to 13, indicating bearish sentiment or hedging activity. The 100% spread signals divergent expectations across timeframes. Most levels below 23.8 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.