(ECH)

ECH trades at $32.81, 5.8% above the near-term max pain of $31 expiring Sep 19, 2025 (26 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($22-$31), signaling increased put positioning or downside protection. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for ECH shows a downward trend from 31 to 22, indicating bearish sentiment or hedging activity. The 32% spread signals divergent expectations across timeframes. Most levels below 32.81 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.