SPDR Portfolio S&P 600 Sm... (SPSM)
SPDR Portfolio S&P 600 Small Cap ETF Max Pain By Strike
SPSM trades at $46.69, 3.8% above the near-term max pain of $45 expiring Oct 17, 2025 (10 days). Price stability likely with balanced options positioning at this level. Max pain is falling across expirations ($36-$660), signaling increased put positioning or downside protection. High dispersion in max pain levels suggests competing forces and potential volatility.
SPDR Portfolio S&P 600 Small Cap ETF Max Pain By Expiry
Max pain for SPSM shows a downward trend from 660 to 36, indicating bearish sentiment or hedging activity. The 378% spread signals divergent expectations across timeframes. Most levels below 46.69 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 |
|---|---|---|
| Oct 17, 2025 | 45 | n/a (n/a) |
| Nov 21, 2025 | 46 | n/a (n/a) |
| Dec 19, 2025 | 38 | n/a (n/a) |
| Jan 16, 2026 | 660 | n/a (n/a) |
| Mar 20, 2026 | 36 | n/a (n/a) |