Light & Wonder Inc. (LNW)
Light & Wonder Max Pain By Strike
LNW trades at $92.47, 8.8% above the near-term max pain of $85 expiring Sep 19, 2025 (17 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is rising across expirations ($65-$90), reflecting growing call interest at higher strikes. Key magnetic zone at 85 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
Light & Wonder Max Pain By Expiry
Max pain for LNW shows an upward trend from 65 to 90, suggesting bullish positioning in longer-dated options. The 31% spread signals divergent expectations across timeframes. Most levels below 92.47 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.
Max Pain Table
| Expiration Date | Max Pain | Max Pain vs Current Price |
|---|---|---|
| Sep 19, 2025 | 85 | -7.47 (-8.08%) |
| Oct 17, 2025 | 85 | -7.47 (-8.08%) |
| Nov 21, 2025 | 90 | -2.47 (-2.67%) |
| Jan 16, 2026 | 80 | -12.47 (-13.49%) |
| Apr 17, 2026 | 65 | -27.47 (-29.71%) |