SPDR Portfolio Mortgage B... (SPMB)
SPDR Portfolio Mortgage Backed Bond ETF Max Pain By Strike
SPMB trades at $22.2, 5.7% above the near-term max pain of $21 expiring Sep 19, 2025 (22 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is rising across expirations ($5-$21), reflecting growing call interest at higher strikes. Key magnetic zone at 17 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
SPDR Portfolio Mortgage Backed Bond ETF Max Pain By Expiry
Max pain for SPMB shows an upward trend from 5 to 21, suggesting bullish positioning in longer-dated options. The 99% spread signals divergent expectations across timeframes. Most levels below 22.2 may cap rallies. 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 | 21 | -1.20 (-5.43%) |
| Oct 17, 2025 | 21 | -1.20 (-5.43%) |
| Nov 21, 2025 | 17 | -5.20 (-23.44%) |
| Jan 16, 2026 | 5 | -17.20 (-77.48%) |
| Feb 20, 2026 | 17 | -5.20 (-23.44%) |