(SPDN)
Max Pain By Strike
SPDN trades at $9.95, 10.6% above the near-term max pain of $9 expiring Sep 19, 2025 (22 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($7-$11), signaling increased put positioning or downside protection. High dispersion in max pain levels suggests competing forces and potential volatility.
Max Pain By Expiry
Max pain for SPDN shows a downward trend from 11 to 7, indicating bearish sentiment or hedging activity. The 43% spread signals divergent expectations across timeframes. Levels distributed around 9.95. 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 | 9 | -0.95 (-9.50%) |
| Oct 17, 2025 | 11 | 1.05 (10.61%) |
| Jan 16, 2026 | 7 | -2.95 (-29.61%) |
| Apr 17, 2026 | 10 | 0.05 (0.55%) |