On Holding AG (ONON)
On Max Pain By Strike
ONON trades at $45.01, pinned near the near-term max pain of $45 expiring Aug 22, 2025 (2 days). Price stability likely with balanced options positioning at this level. Max pain is falling across expirations ($22.5-$52.5), signaling increased put positioning or downside protection. Key magnetic zone at 50 where 4 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
On Max Pain By Expiry
Max pain for ONON shows a downward trend from 52.5 to 22.5, indicating bearish sentiment or hedging activity. The 66% spread signals divergent expectations across timeframes. Levels distributed around 45.01. Strong magnetic level at 50 (4 expirations). 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 |
|---|---|---|
| Aug 22, 2025 | 45 | -0.01 (-0.01%) |
| Aug 29, 2025 | 45.5 | 0.49 (1.10%) |
| Sep 5, 2025 | 44 | -1.01 (-2.23%) |
| Sep 12, 2025 | 46 | 0.99 (2.21%) |
| Sep 19, 2025 | 50 | 4.99 (11.10%) |
| Sep 26, 2025 | 44 | -1.01 (-2.23%) |
| Oct 17, 2025 | 50 | 4.99 (11.10%) |
| Dec 19, 2025 | 47.5 | 2.49 (5.54%) |
| Jan 16, 2026 | 45 | -0.01 (-0.01%) |
| Feb 20, 2026 | 47.5 | 2.49 (5.54%) |
| Mar 20, 2026 | 52.5 | 7.49 (16.65%) |
| Apr 17, 2026 | 45 | -0.01 (-0.01%) |
| Jun 18, 2026 | 50 | 4.99 (11.10%) |
| Sep 18, 2026 | 22.5 | -22.51 (-50.01%) |
| Dec 18, 2026 | 47.5 | 2.49 (5.54%) |
| Jan 15, 2027 | 50 | 4.99 (11.10%) |