Direxion Daily 20+ Year T... (TMV)
Direxion Daily 20+ Year Treasury Bear 3X Shares Max Pain By Strike
TMV trades at $39.4, 6.5% above the near-term max pain of $37 expiring Sep 19, 2025 (29 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is rising across expirations ($31-$37), reflecting growing call interest at higher strikes. High dispersion in max pain levels suggests competing forces and potential volatility.
Direxion Daily 20+ Year Treasury Bear 3X Shares Max Pain By Expiry
Max pain for TMV shows an upward trend from 31 to 37, suggesting bullish positioning in longer-dated options. The 17% spread signals divergent expectations across timeframes. Most levels below 39.4 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 | 37 | -2.40 (-6.08%) |
| Oct 17, 2025 | 36 | -3.40 (-8.62%) |
| Nov 21, 2025 | 35 | -4.40 (-11.16%) |
| Jan 16, 2026 | 34 | -5.40 (-13.69%) |
| Feb 20, 2026 | 31 | -8.40 (-21.31%) |