Horizon Bancorp Inc. (HBNC)
Horizon Bancorp Max Pain By Strike
HBNC trades at $16.26, 8.4% above the near-term max pain of $15 expiring Sep 19, 2025 (7 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($15-$95), signaling increased put positioning or downside protection. Key magnetic zone at 15 where 4 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
Horizon Bancorp Max Pain By Expiry
Max pain for HBNC shows a downward trend from 95 to 15, indicating bearish sentiment or hedging activity. The 258% spread signals divergent expectations across timeframes. Most levels below 16.26 may cap rallies. Strong magnetic level at 15 (4 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 | 15 | -1.26 (-7.75%) |
| Oct 17, 2025 | 15 | -1.26 (-7.75%) |
| Dec 19, 2025 | 15 | -1.26 (-7.75%) |
| Jan 16, 2026 | 95 | 78.74 (484.26%) |
| Mar 20, 2026 | 15 | -1.26 (-7.75%) |