Phunware Inc. (PHUN)

PHUN trades at $2.89, 15.6% above the near-term max pain of $2.5 expiring Oct 17, 2025 (11 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($2.5-$40), signaling increased put positioning or downside protection. Key magnetic zone at 3 where 4 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for PHUN shows a downward trend from 40 to 2.5, indicating bearish sentiment or hedging activity. The 375% spread signals divergent expectations across timeframes. Most levels below 2.89 may cap rallies. Strong magnetic level at 3 (4 expirations). Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.