Cambria Tail Risk ETF (TAIL)

TAIL trades at $11.79, 17.9% above the near-term max pain of $10 expiring Sep 19, 2025 (25 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($9-$99), signaling increased put positioning or downside protection. Key magnetic zone at 9 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for TAIL shows a downward trend from 99 to 9, indicating bearish sentiment or hedging activity. The 328% spread signals divergent expectations across timeframes. Most levels below 11.79 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.