Horizon Bancorp Inc. (HBNC)

HBNC trades at $15.88, 5.9% above the near-term max pain of $15 expiring Oct 17, 2025 (12 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($15-$95), signaling increased put positioning or downside protection. Key magnetic zone at 15 where 4 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for HBNC shows a downward trend from 95 to 15, indicating bearish sentiment or hedging activity. The 258% spread signals divergent expectations across timeframes. Most levels below 15.88 may cap rallies. Strong magnetic level at 15 (4 expirations). Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.