SM Energy (SM)
SM Energy Max Pain By Strike
SM trades at $27.77, pinned near the near-term max pain of $27.5 expiring Sep 19, 2025 (25 days). Price stability likely with balanced options positioning at this level. Max pain is falling across expirations ($25-$35), signaling increased put positioning or downside protection. Key magnetic zone at 25 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
SM Energy Max Pain By Expiry
Max pain for SM shows a downward trend from 35 to 25, indicating bearish sentiment or hedging activity. The 36% spread signals divergent expectations across timeframes. Most levels below 27.77 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 | 27.5 | -0.27 (-0.97%) |
| Oct 17, 2025 | 25 | -2.77 (-9.97%) |
| Nov 21, 2025 | 27.5 | -0.27 (-0.97%) |
| Dec 19, 2025 | 35 | 7.23 (26.04%) |
| Feb 20, 2026 | 25 | -2.77 (-9.97%) |