Direxion Daily S&P 500 Be... (SPXS)
Direxion Daily S&P 500 Bear 3X Shares Max Pain By Strike
SPXS trades at $4.17, 4.2% above the near-term max pain of $4 expiring Aug 22, 2025 (0 days). Price stability likely with balanced options positioning at this level. Max pain is falling across expirations ($0.5-$7), signaling increased put positioning or downside protection. Key magnetic zone at 4 where 5 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
Direxion Daily S&P 500 Bear 3X Shares Max Pain By Expiry
Max pain for SPXS shows a downward trend from 7 to 0.5, indicating bearish sentiment or hedging activity. The 155% spread signals divergent expectations across timeframes. Levels distributed around 4.17. Strong magnetic level at 4 (5 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 | 4 | -0.17 (-4.08%) |
| Aug 29, 2025 | 4 | -0.17 (-4.08%) |
| Sep 5, 2025 | 4.5 | 0.33 (7.91%) |
| Sep 12, 2025 | 4.5 | 0.33 (7.91%) |
| Sep 19, 2025 | 4 | -0.17 (-4.08%) |
| Sep 26, 2025 | 4.5 | 0.33 (7.91%) |
| Oct 3, 2025 | 0.5 | -3.67 (-88.01%) |
| Oct 17, 2025 | 4 | -0.17 (-4.08%) |
| Jan 16, 2026 | 7 | 2.83 (67.87%) |
| Apr 17, 2026 | 4 | -0.17 (-4.08%) |
| Jan 15, 2027 | 5 | 0.83 (19.90%) |