Gray Television Inc. (GTN)
Gray Television Max Pain By Strike
GTN trades at $6.13, 22.6% above the near-term max pain of $5 expiring Sep 19, 2025 (11 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($2.5-$8), signaling increased put positioning or downside protection. Key magnetic zone at 5 where 7 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
Gray Television Max Pain By Expiry
Max pain for GTN shows a downward trend from 8 to 2.5, indicating bearish sentiment or hedging activity. The 109% spread signals divergent expectations across timeframes. Most levels below 6.13 may cap rallies. Strong magnetic level at 5 (7 expirations). 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 | 5 | -1.13 (-18.37%) |
| Oct 17, 2025 | 5 | -1.13 (-18.37%) |
| Nov 21, 2025 | 5 | -1.13 (-18.37%) |
| Dec 19, 2025 | 5 | -1.13 (-18.37%) |
| Jan 16, 2026 | 8 | 1.88 (30.61%) |
| Feb 20, 2026 | 5 | -1.13 (-18.37%) |
| Jul 17, 2026 | 5 | -1.13 (-18.37%) |
| Oct 16, 2026 | 2.5 | -3.63 (-59.18%) |
| Dec 18, 2026 | 5 | -1.13 (-18.37%) |