Banco Santander (Brasil) ... (BSBR)

BSBR trades at $5.49, 9.8% above the near-term max pain of $5 expiring Oct 17, 2025 (11 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($2.5-$45), signaling increased put positioning or downside protection. Key magnetic zone at 5 where 3 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for BSBR shows a downward trend from 45 to 2.5, indicating bearish sentiment or hedging activity. The 340% spread signals divergent expectations across timeframes. Most levels below 5.49 may cap rallies. Strong magnetic level at 5 (3 expirations). Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.