On Holding AG (ONON)

ONON trades at $42.11, pinned near the near-term max pain of $42.5 expiring Oct 10, 2025 (5 days). Price stability likely with balanced options positioning at this level. Max pain is rising across expirations ($40-$50), reflecting growing call interest at higher strikes. Key magnetic zone at 45 where 7 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for ONON shows an upward trend from 40 to 50, suggesting bullish positioning in longer-dated options. The 22% spread signals divergent expectations across timeframes. Most levels above 42.11 could support dips. Strong magnetic level at 45 (7 expirations). Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.