Ellington Financial Inc. (EFC)

EFC trades at $13.69, 9.5% above the near-term max pain of $12.5 expiring Sep 19, 2025 (28 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($12.5-$15), signaling increased put positioning or downside protection. Key magnetic zone at 13 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for EFC shows a downward trend from 15 to 12.5, indicating bearish sentiment or hedging activity. The 18% spread signals divergent expectations across timeframes. Levels distributed around 13.69. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.