(IYJ)

IYJ trades at $143.63, 14.9% above the near-term max pain of $125 expiring Sep 19, 2025 (33 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($125-$134), signaling increased put positioning or downside protection. Key magnetic zone at 125 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for IYJ shows a downward trend from 134 to 125, indicating bearish sentiment or hedging activity. The 7% spread suggests strong consensus on fair value. Most levels below 143.63 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.