Birkenstock Holding (BIRK)

BIRK trades at $46, 2.2% above the near-term max pain of $45 expiring Oct 17, 2025 (12 days). Price stability likely with balanced options positioning at this level. Max pain is falling across expirations ($35-$340), signaling increased put positioning or downside protection. Key magnetic zone at 45 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for BIRK shows a downward trend from 340 to 35, indicating bearish sentiment or hedging activity. The 354% spread signals divergent expectations across timeframes. Levels distributed around 46. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.