Banco Santander S.A. (SAN)
Banco Santander S.A. Max Pain By Strike
SAN trades at $10.05, 43.6% above the near-term max pain of $7 expiring Sep 19, 2025 (6 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is rising across expirations ($7-$10), reflecting growing call interest at higher strikes. Key magnetic zone at 8 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
Banco Santander S.A. Max Pain By Expiry
Max pain for SAN shows an upward trend from 7 to 10, suggesting bullish positioning in longer-dated options. The 36% spread signals divergent expectations across timeframes. Most levels below 10.05 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 | 7 | -3.05 (-30.38%) |
| Oct 17, 2025 | 10 | -0.05 (-0.55%) |
| Dec 19, 2025 | 8 | -2.05 (-20.44%) |
| Mar 20, 2026 | 8 | -2.05 (-20.44%) |