(IVOG)

IVOG trades at $115.95, 6.4% above the near-term max pain of $109 expiring Sep 19, 2025 (33 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($89-$111), signaling increased put positioning or downside protection. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for IVOG shows a downward trend from 111 to 89, indicating bearish sentiment or hedging activity. The 21% spread signals divergent expectations across timeframes. Most levels below 115.95 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.