(RLY)

RLY trades at $29.8, 24.2% above the near-term max pain of $24 expiring Sep 19, 2025 (33 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($23-$25), signaling increased put positioning or downside protection. Key magnetic zone at 24 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for RLY shows a downward trend from 25 to 23, indicating bearish sentiment or hedging activity. The 8% spread suggests strong consensus on fair value. Most levels below 29.8 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.