SPDR S&P 500 ETF Trust (SPY)
SPDR S&P 500 Max Pain By Strike
SPY trades at $643.27, pinned near the near-term max pain of $642 expiring Aug 18, 2025 (-1 days). Price stability likely with balanced options positioning at this level. Max pain is stable across expirations ($400-$645), indicating stable market expectations. Key magnetic zone at 645 where 4 expirations converge.
SPDR S&P 500 Max Pain By Expiry
Max pain for SPY shows stable levels around 617.78, reflecting balanced market expectations. The 40% spread signals divergent expectations across timeframes. Most levels below 643.27 may cap rallies. Strong magnetic level at 645 (4 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 18, 2025 | 642 | -1.27 (-0.20%) |
| Aug 19, 2025 | 642 | -1.27 (-0.20%) |
| Aug 20, 2025 | 642 | -1.27 (-0.20%) |
| Aug 21, 2025 | 643 | -0.27 (-0.04%) |
| Aug 22, 2025 | 637 | -6.27 (-0.97%) |
| Aug 25, 2025 | 644 | 0.73 (0.11%) |
| Aug 26, 2025 | 645 | 1.73 (0.27%) |
| Aug 27, 2025 | 645 | 1.73 (0.27%) |
| Aug 28, 2025 | 645 | 1.73 (0.27%) |
| Aug 29, 2025 | 623 | -20.27 (-3.15%) |
| Sep 5, 2025 | 637 | -6.27 (-0.97%) |
| Sep 12, 2025 | 640 | -3.27 (-0.51%) |
| Sep 19, 2025 | 620 | -23.27 (-3.62%) |
| Sep 26, 2025 | 640 | -3.27 (-0.51%) |
| Sep 30, 2025 | 620 | -23.27 (-3.62%) |
| Oct 17, 2025 | 630 | -13.27 (-2.06%) |
| Oct 31, 2025 | 620 | -23.27 (-3.62%) |
| Nov 21, 2025 | 630 | -13.27 (-2.06%) |
| Nov 28, 2025 | 610 | -33.27 (-5.17%) |
| Dec 19, 2025 | 600 | -43.27 (-6.73%) |
| Dec 31, 2025 | 600 | -43.27 (-6.73%) |
| Jan 16, 2026 | 595 | -48.27 (-7.50%) |
| Jan 30, 2026 | 634 | -9.27 (-1.44%) |
| Feb 20, 2026 | 400 | -243.27 (-37.82%) |
| Mar 20, 2026 | 600 | -43.27 (-6.73%) |
| Mar 31, 2026 | 625 | -18.27 (-2.84%) |
| Jun 18, 2026 | 585 | -58.27 (-9.06%) |
| Jun 30, 2026 | 635 | -8.27 (-1.29%) |
| Sep 18, 2026 | 645 | 1.73 (0.27%) |
| Dec 18, 2026 | 560 | -83.27 (-12.94%) |
| Jan 15, 2027 | 640 | -3.27 (-0.51%) |
| Dec 17, 2027 | 595 | -48.27 (-7.50%) |