Novartis AG (NVS)

NVS trades at $132.42, 10.3% above the near-term max pain of $120 expiring Oct 17, 2025 (12 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($90-$135), signaling increased put positioning or downside protection. Key magnetic zone at 120 where 3 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for NVS shows a downward trend from 135 to 90, indicating bearish sentiment or hedging activity. The 40% spread signals divergent expectations across timeframes. Most levels below 132.42 may cap rallies. Strong magnetic level at 120 (3 expirations). Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.