(SPY)
Max Pain By Strike
SPY trades at $638.12, pinned near the near-term max pain of $641 expiring Aug 21, 2025 (0 days). Price stability likely with balanced options positioning at this level. Max pain is stable across expirations ($565-$645), indicating stable market expectations. Key magnetic zone at 640 where 6 expirations converge.
Max Pain By Expiry
Max pain for SPY shows stable levels around 624.65, reflecting balanced market expectations. The 13% spread signals divergent expectations across timeframes. Levels distributed around 638.12. Strong magnetic level at 640 (6 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 21, 2025 | 641 | 2.88 (0.45%) |
| Aug 22, 2025 | 639 | 0.88 (0.14%) |
| Aug 25, 2025 | 642 | 3.88 (0.61%) |
| Aug 26, 2025 | 643 | 4.88 (0.76%) |
| Aug 27, 2025 | 643 | 4.88 (0.76%) |
| Aug 28, 2025 | 645 | 6.88 (1.08%) |
| Aug 29, 2025 | 627 | -11.12 (-1.74%) |
| Sep 2, 2025 | 640 | 1.88 (0.29%) |
| Sep 3, 2025 | 640 | 1.88 (0.29%) |
| Sep 5, 2025 | 640 | 1.88 (0.29%) |
| Sep 12, 2025 | 640 | 1.88 (0.29%) |
| Sep 19, 2025 | 620 | -18.12 (-2.84%) |
| Sep 26, 2025 | 639 | 0.88 (0.14%) |
| Sep 30, 2025 | 620 | -18.12 (-2.84%) |
| Oct 17, 2025 | 635 | -3.12 (-0.49%) |
| Oct 31, 2025 | 620 | -18.12 (-2.84%) |
| Nov 21, 2025 | 635 | -3.12 (-0.49%) |
| Nov 28, 2025 | 610 | -28.12 (-4.41%) |
| Dec 19, 2025 | 600 | -38.12 (-5.97%) |
| Dec 31, 2025 | 600 | -38.12 (-5.97%) |
| Jan 16, 2026 | 595 | -43.12 (-6.76%) |
| Jan 30, 2026 | 635 | -3.12 (-0.49%) |
| Feb 20, 2026 | 625 | -13.12 (-2.06%) |
| Mar 20, 2026 | 600 | -38.12 (-5.97%) |
| Mar 31, 2026 | 620 | -18.12 (-2.84%) |
| Jun 18, 2026 | 585 | -53.12 (-8.32%) |
| Jun 30, 2026 | 640 | 1.88 (0.29%) |
| Sep 18, 2026 | 645 | 6.88 (1.08%) |
| Dec 18, 2026 | 565 | -73.12 (-11.46%) |
| Jan 15, 2027 | 640 | 1.88 (0.29%) |
| Dec 17, 2027 | 595 | -43.12 (-6.76%) |