(NLR)

NLR trades at $114.9, 35.2% above the near-term max pain of $85 expiring Sep 19, 2025 (32 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($85-$111), signaling increased put positioning or downside protection. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for NLR shows a downward trend from 111 to 85, indicating bearish sentiment or hedging activity. The 26% spread signals divergent expectations across timeframes. Most levels below 114.9 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.