Baytex Energy Corp. (BTE)

BTE trades at $2.18, 45.3% above the near-term max pain of $1.5 expiring Sep 19, 2025 (22 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($1.5-$2), signaling increased put positioning or downside protection. Key magnetic zone at 2 where 4 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for BTE shows a downward trend from 2 to 1.5, indicating bearish sentiment or hedging activity. The 27% spread signals divergent expectations across timeframes. Most levels below 2.18 may cap rallies. Strong magnetic level at 2 (4 expirations). Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.