(SPYG)
Max Pain By Strike
SPYG trades at $98.75, 12.2% above the near-term max pain of $88 expiring Sep 19, 2025 (31 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($86-$470), signaling increased put positioning or downside protection. Key magnetic zone at 86 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
Max Pain By Expiry
Max pain for SPYG shows a downward trend from 470 to 86, indicating bearish sentiment or hedging activity. The 231% spread signals divergent expectations across timeframes. Levels distributed around 98.75. 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 | 88 | -10.75 (-10.89%) |
| Oct 17, 2025 | 101 | 2.25 (2.28%) |
| Dec 19, 2025 | 86 | -12.75 (-12.91%) |
| Mar 20, 2026 | 86 | -12.75 (-12.91%) |
| Dec 18, 2026 | 470 | 371.25 (375.95%) |