On Holding AG (ONON)
On Max Pain By Strike
ONON trades at $44.22, 4.9% below the near-term max pain of $46.5 expiring Aug 15, 2025 (0 days). Price stability likely with balanced options positioning at this level. Max pain is falling across expirations ($32.5-$52.5), signaling increased put positioning or downside protection. Key magnetic zone at 48 where 5 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
On Max Pain By Expiry
Max pain for ONON shows a downward trend from 52.5 to 32.5, indicating bearish sentiment or hedging activity. The 42% spread signals divergent expectations across timeframes. Most levels above 44.22 could support dips. Strong magnetic level at 48 (5 expirations). 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 |
|---|---|---|
| Aug 15, 2025 | 46.5 | 2.28 (5.16%) |
| Aug 22, 2025 | 46 | 1.78 (4.03%) |
| Aug 29, 2025 | 47.5 | 3.28 (7.42%) |
| Sep 5, 2025 | 48 | 3.78 (8.55%) |
| Sep 12, 2025 | 47 | 2.78 (6.29%) |
| Sep 19, 2025 | 50 | 5.78 (13.07%) |
| Sep 26, 2025 | 45 | 0.78 (1.76%) |
| Oct 17, 2025 | 52.5 | 8.28 (18.72%) |
| Dec 19, 2025 | 47.5 | 3.28 (7.42%) |
| Jan 16, 2026 | 45 | 0.78 (1.76%) |
| Feb 20, 2026 | 47.5 | 3.28 (7.42%) |
| Mar 20, 2026 | 52.5 | 8.28 (18.72%) |
| Apr 17, 2026 | 32.5 | -11.72 (-26.50%) |
| Jun 18, 2026 | 50 | 5.78 (13.07%) |
| Dec 18, 2026 | 47.5 | 3.28 (7.42%) |
| Jan 15, 2027 | 52.5 | 8.28 (18.72%) |