Travel + Leisure Co. (TNL)
Travel + Leisure Max Pain By Strike
TNL trades at $60.01, 4.4% above the near-term max pain of $57.5 expiring Sep 19, 2025 (31 days). Price stability likely with balanced options positioning at this level. Max pain is falling across expirations ($37.5-$99), signaling increased put positioning or downside protection. High dispersion in max pain levels suggests competing forces and potential volatility.
Travel + Leisure Max Pain By Expiry
Max pain for TNL shows a downward trend from 99 to 37.5, indicating bearish sentiment or hedging activity. The 105% spread signals divergent expectations across timeframes. Most levels below 60.01 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 | 57.5 | -2.51 (-4.18%) |
| Oct 17, 2025 | 37.5 | -22.51 (-37.51%) |
| Nov 21, 2025 | 42.5 | -17.51 (-29.18%) |
| Jan 16, 2026 | 99 | 38.99 (64.97%) |
| Feb 20, 2026 | 55 | -5.01 (-8.35%) |