FIDELITY ETHEREUM FUND (FETH)

FETH trades at $43.49, 61.1% above the near-term max pain of $27 expiring Sep 19, 2025 (31 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($25-$40), signaling increased put positioning or downside protection. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for FETH shows a downward trend from 40 to 25, indicating bearish sentiment or hedging activity. The 48% spread signals divergent expectations across timeframes. Most levels below 43.49 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.