Gerdau S.A. (GGB)

GGB trades at $2.96, 18.4% above the near-term max pain of $2.5 expiring Aug 15, 2025 (0 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($2.5-$47), signaling increased put positioning or downside protection. Key magnetic zone at 3 where 5 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for GGB shows a downward trend from 47 to 2.5, indicating bearish sentiment or hedging activity. The 445% spread signals divergent expectations across timeframes. Levels distributed around 2.96. Strong magnetic level at 3 (5 expirations). Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.