Elevance Health Inc. (ELV)

ELV trades at $316.45, 9.1% above the near-term max pain of $290 expiring Sep 19, 2025 (26 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($290-$360), signaling increased put positioning or downside protection. Key magnetic zone at 290 where 3 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for ELV shows a downward trend from 360 to 290, indicating bearish sentiment or hedging activity. The 22% spread signals divergent expectations across timeframes. Levels distributed around 316.45. Strong magnetic level at 290 (3 expirations). Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.