First Trust Enhanced Shor... (FTSM)
First Trust Enhanced Short Maturity ETF Max Pain By Strike
FTSM trades at $59.96, 5.2% above the near-term max pain of $57 expiring Oct 17, 2025 (11 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($7.5-$57), signaling increased put positioning or downside protection. Key magnetic zone at 57 where 4 expirations converge.
First Trust Enhanced Short Maturity ETF Max Pain By Expiry
Max pain for FTSM shows a downward trend from 57 to 7.5, indicating bearish sentiment or hedging activity. The 105% spread signals divergent expectations across timeframes. Most levels below 59.96 may cap rallies. Strong magnetic level at 57 (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 | 57 | n/a (n/a) |
| Nov 21, 2025 | 57 | n/a (n/a) |
| Jan 16, 2026 | 7.5 | n/a (n/a) |
| Feb 20, 2026 | 57 | n/a (n/a) |
| May 15, 2026 | 57 | n/a (n/a) |