Ellington Credit (EARN)

EARN trades at $5.45, 27.3% below the near-term max pain of $7.5 expiring Oct 17, 2025 (12 days). Look for upward drift as max pain acts as a magnet pulling price higher. Max pain is falling across expirations ($2.5-$7.5), signaling increased put positioning or downside protection. Key magnetic zone at 8 where 3 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for EARN shows a downward trend from 7.5 to 2.5, indicating bearish sentiment or hedging activity. The 83% spread signals divergent expectations across timeframes. Levels distributed around 5.45. Strong magnetic level at 8 (3 expirations). Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.