SPDR Bloomberg 3-12 Month... (BILS)
SPDR Bloomberg 3-12 Month T-Bill ETF Max Pain By Strike
BILS trades at $99.44, 3.6% above the near-term max pain of $96 expiring Sep 19, 2025 (22 days). Price stability likely with balanced options positioning at this level. Max pain is falling across expirations ($94-$101), signaling increased put positioning or downside protection. Key magnetic zone at 101 where 2 expirations converge.
SPDR Bloomberg 3-12 Month T-Bill ETF Max Pain By Expiry
Max pain for BILS shows a downward trend from 101 to 94, indicating bearish sentiment or hedging activity. The 7% spread suggests strong consensus on fair value. Levels distributed around 99.44. 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 | 96 | -3.44 (-3.46%) |
| Oct 17, 2025 | 94 | -5.44 (-5.48%) |
| Jan 16, 2026 | 101 | 1.56 (1.56%) |
| Apr 17, 2026 | 101 | 1.56 (1.56%) |