British American Tobacco ... (BTI)
British American Tobacco p.l.c. Max Pain By Strike
BTI trades at $56.58, 20.4% above the near-term max pain of $47 expiring Sep 19, 2025 (6 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is rising across expirations ($37-$55), reflecting growing call interest at higher strikes. Key magnetic zone at 37 where 2 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 an upward trend from 37 to 55, suggesting bullish positioning in longer-dated options. The 39% spread signals divergent expectations across timeframes. Most levels below 56.58 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 | 47 | -9.58 (-16.93%) |
| Oct 17, 2025 | 55 | -1.58 (-2.79%) |
| Dec 19, 2025 | 49 | -7.58 (-13.40%) |
| Jan 16, 2026 | 42 | -14.58 (-25.77%) |
| Mar 20, 2026 | 48 | -8.58 (-15.16%) |
| Jun 18, 2026 | 45 | -11.58 (-20.47%) |
| Sep 18, 2026 | 55 | -1.58 (-2.79%) |
| Dec 18, 2026 | 37 | -19.58 (-34.61%) |
| Jan 15, 2027 | 37 | -19.58 (-34.61%) |