Elanco Animal Health (ELAN)

ELAN trades at $17.99, 38.4% above the near-term max pain of $13 expiring Aug 15, 2025 (0 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is rising across expirations ($9-$15), reflecting growing call interest at higher strikes. Key magnetic zone at 12 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for ELAN shows an upward trend from 9 to 15, suggesting bullish positioning in longer-dated options. The 50% spread signals divergent expectations across timeframes. Most levels below 17.99 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.