Franco-Nevada Corporation (FNV)

FNV trades at $196.18, 18.9% above the near-term max pain of $165 expiring Sep 19, 2025 (9 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is rising across expirations ($140-$185), reflecting growing call interest at higher strikes. Key magnetic zone at 165 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for FNV shows an upward trend from 140 to 185, suggesting bullish positioning in longer-dated options. The 28% spread signals divergent expectations across timeframes. Most levels below 196.18 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.