(SPYI)
Max Pain By Strike
SPYI trades at $51.64, pinned near the near-term max pain of $51 expiring Sep 19, 2025 (22 days). Price stability likely with balanced options positioning at this level. Max pain is falling across expirations ($7-$9600), signaling increased put positioning or downside protection. Key magnetic zone at 50 where 2 expirations converge.
Max Pain By Expiry
Max pain for SPYI shows a downward trend from 9600 to 7, indicating bearish sentiment or hedging activity. The 587% spread signals divergent expectations across timeframes. Most levels below 51.64 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 | 51 | -0.64 (-1.24%) |
| Oct 17, 2025 | 51 | -0.64 (-1.24%) |
| Dec 19, 2025 | 50 | -1.64 (-3.18%) |
| Jan 16, 2026 | 7 | -44.64 (-86.44%) |
| Mar 20, 2026 | 50 | -1.64 (-3.18%) |
| Dec 21, 2029 | 9600 | 9548.36 (18490.24%) |