(IWN)
Max Pain By Strike
IWN trades at $173.51, 9.8% above the near-term max pain of $158 expiring Sep 19, 2025 (26 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($149-$170), signaling increased put positioning or downside protection.
Max Pain By Expiry
Max pain for IWN shows a downward trend from 170 to 149, indicating bearish sentiment or hedging activity. The 13% spread signals divergent expectations across timeframes. Most levels below 173.51 may cap rallies. 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 | 158 | -15.51 (-8.94%) |
| Oct 17, 2025 | 167 | -6.51 (-3.75%) |
| Nov 21, 2025 | 149 | -24.51 (-14.13%) |
| Feb 20, 2026 | 170 | -3.51 (-2.02%) |