(FNX)

FNX trades at $123.9, 11.6% above the near-term max pain of $111 expiring Sep 19, 2025 (22 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($89-$114), signaling increased put positioning or downside protection. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for FNX shows a downward trend from 114 to 89, indicating bearish sentiment or hedging activity. The 24% spread signals divergent expectations across timeframes. Most levels below 123.9 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.