(RWJ)
Max Pain By Strike
RWJ trades at $48.52, 21.3% above the near-term max pain of $40 expiring Sep 19, 2025 (8 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 By Expiry
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 48.52 may cap rallies. 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 |
|---|---|---|
| Sep 19, 2025 | 40 | -8.52 (-17.57%) |
| Oct 17, 2025 | 39 | -9.52 (-19.63%) |
| Jan 16, 2026 | 42 | -6.52 (-13.45%) |
| Apr 17, 2026 | 43 | -5.52 (-11.39%) |
| Dec 18, 2026 | 950 | 901.48 (1857.75%) |