Telefónica S.A. (TEF)
Telefónica S.A. Max Pain By Strike
TEF trades at $4.96, pinned near the near-term max pain of $5 expiring Oct 17, 2025 (11 days). Price stability likely with balanced options positioning at this level. Max pain is falling across expirations ($5-$7.5), signaling increased put positioning or downside protection. Key magnetic zone at 5 where 4 expirations converge.
Telefónica S.A. Max Pain By Expiry
Max pain for TEF shows a downward trend from 7.5 to 5, indicating bearish sentiment or hedging activity. The 45% spread signals divergent expectations across timeframes. Most levels above 4.96 could support dips. Strong magnetic level at 5 (4 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 |
|---|---|---|
| Oct 17, 2025 | 5 | n/a (n/a) |
| Nov 21, 2025 | 5 | n/a (n/a) |
| Dec 19, 2025 | 5 | n/a (n/a) |
| Jan 16, 2026 | 7.5 | n/a (n/a) |
| Mar 20, 2026 | 5 | n/a (n/a) |