ProShares - Short S&P500 (SH)
ProShares - Short S&P500 Max Pain By Strike
SH trades at $38.53, pinned near the near-term max pain of $39 expiring Sep 19, 2025 (21 days). Price stability likely with balanced options positioning at this level. Max pain is stable across expirations ($35-$42), indicating stable market expectations. Key magnetic zone at 38 where 2 expirations converge.
ProShares - Short S&P500 Max Pain By Expiry
Max pain for SH shows stable levels around 38.67, reflecting balanced market expectations. The 18% spread signals divergent expectations across timeframes. Levels distributed around 38.53. 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 | 39 | 0.47 (1.21%) |
| Oct 17, 2025 | 38 | -0.53 (-1.39%) |
| Nov 21, 2025 | 40 | 1.47 (3.80%) |
| Jan 16, 2026 | 42 | 3.47 (8.99%) |
| Feb 20, 2026 | 38 | -0.53 (-1.39%) |
| Jan 15, 2027 | 35 | -3.53 (-9.17%) |