(PJP)

PJP trades at $91.03, 26.4% above the near-term max pain of $72 expiring Sep 19, 2025 (19 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($68-$97.5), signaling increased put positioning or downside protection. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for PJP shows a downward trend from 97.5 to 68, indicating bearish sentiment or hedging activity. The 38% spread signals divergent expectations across timeframes. Most levels below 91.03 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.