(EWS)
Max Pain By Strike
EWS trades at $27.75, 11.0% above the near-term max pain of $25 expiring Sep 19, 2025 (32 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($18-$26), signaling increased put positioning or downside protection. High dispersion in max pain levels suggests competing forces and potential volatility.
Max Pain By Expiry
Max pain for EWS shows a downward trend from 26 to 18, indicating bearish sentiment or hedging activity. The 35% spread signals divergent expectations across timeframes. Most levels below 27.75 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 | 25 | -2.75 (-9.91%) |
| Oct 17, 2025 | 18 | -9.75 (-35.14%) |
| Nov 21, 2025 | 22 | -5.75 (-20.72%) |
| Feb 20, 2026 | 26 | -1.75 (-6.31%) |