(RWJ)

RWJ trades at $45.94, 14.8% above the near-term max pain of $40 expiring Sep 19, 2025 (32 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($39-$950), signaling increased put positioning or downside protection. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for RWJ shows a downward trend from 950 to 39, indicating bearish sentiment or hedging activity. The 409% spread signals divergent expectations across timeframes. Most levels below 45.94 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.