Pampa Energía S.A. (PAM)

PAM trades at $60.81, 6.4% below the near-term max pain of $65 expiring Oct 17, 2025 (12 days). Look for upward drift as max pain acts as a magnet pulling price higher. Max pain is falling across expirations ($50-$85), signaling increased put positioning or downside protection. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for PAM shows a downward trend from 85 to 50, indicating bearish sentiment or hedging activity. The 54% spread signals divergent expectations across timeframes. Levels distributed around 60.81. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.