ProShares - UltraShort Bl... (KOLD)
ProShares - UltraShort Bloomberg Natural Gas Max Pain By Strike
KOLD trades at $38.23, 23.3% above the near-term max pain of $31 expiring Aug 22, 2025 (3 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($23-$36), signaling increased put positioning or downside protection. Key magnetic zone at 30 where 3 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
ProShares - UltraShort Bloomberg Natural Gas Max Pain By Expiry
Max pain for KOLD shows a downward trend from 36 to 23, indicating bearish sentiment or hedging activity. The 43% spread signals divergent expectations across timeframes. Most levels below 38.23 may cap rallies. Strong magnetic level at 30 (3 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 |
|---|---|---|
| Aug 22, 2025 | 31 | -7.23 (-18.91%) |
| Aug 29, 2025 | 31 | -7.23 (-18.91%) |
| Sep 5, 2025 | 32 | -6.23 (-16.30%) |
| Sep 12, 2025 | 33 | -5.23 (-13.68%) |
| Sep 19, 2025 | 30 | -8.23 (-21.53%) |
| Sep 26, 2025 | 35 | -3.23 (-8.45%) |
| Oct 17, 2025 | 36 | -2.23 (-5.83%) |
| Nov 21, 2025 | 25 | -13.23 (-34.61%) |
| Jan 16, 2026 | 23 | -15.23 (-39.84%) |
| Feb 20, 2026 | 24 | -14.23 (-37.22%) |
| Mar 20, 2026 | 30 | -8.23 (-21.53%) |
| Jan 15, 2027 | 30 | -8.23 (-21.53%) |