British American Tobacco ... (BTI)
British American Tobacco p.l.c. Max Pain By Strike
BTI trades at $56.65, 18.0% above the near-term max pain of $48 expiring Aug 15, 2025 (0 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($30-$50), signaling increased put positioning or downside protection. Key magnetic zone at 47 where 3 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
British American Tobacco p.l.c. Max Pain By Expiry
Max pain for BTI shows a downward trend from 50 to 30, indicating bearish sentiment or hedging activity. The 47% spread signals divergent expectations across timeframes. Most levels below 56.65 may cap rallies. Strong magnetic level at 47 (3 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 15, 2025 | 48 | -8.65 (-15.26%) |
| Sep 19, 2025 | 47 | -9.65 (-17.03%) |
| Oct 17, 2025 | 30 | -26.65 (-47.04%) |
| Dec 19, 2025 | 47 | -9.65 (-17.03%) |
| Jan 16, 2026 | 42 | -14.65 (-25.85%) |
| Mar 20, 2026 | 47 | -9.65 (-17.03%) |
| Jun 18, 2026 | 45 | -11.65 (-20.56%) |
| Sep 18, 2026 | 50 | -6.65 (-11.73%) |
| Dec 18, 2026 | 37 | -19.65 (-34.68%) |
| Jan 15, 2027 | 37 | -19.65 (-34.68%) |