SPDR S&P Metals & Mining ... (XME)

XME trades at $97.61, 9.7% above the near-term max pain of $89 expiring Oct 17, 2025 (11 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is stable across expirations ($45-$93), indicating stable market expectations. Key magnetic zone at 80 where 3 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for XME shows stable levels around 79.11, reflecting balanced market expectations. The 61% spread signals divergent expectations across timeframes. Most levels below 97.61 may cap rallies. Strong magnetic level at 80 (3 expirations). Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.