SM Energy (SM)
SM Energy Max Pain By Strike
SM trades at $26.18, 4.7% above the near-term max pain of $25 expiring Aug 15, 2025 (0 days). Price stability likely with balanced options positioning at this level. Max pain is falling across expirations ($15-$35), signaling increased put positioning or downside protection. Key magnetic zone at 25 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
SM Energy Max Pain By Expiry
Max pain for SM shows a downward trend from 35 to 15, indicating bearish sentiment or hedging activity. The 77% spread signals divergent expectations across timeframes. Levels distributed around 26.18. 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 |
|---|---|---|
| Aug 15, 2025 | 25 | -1.18 (-4.51%) |
| Sep 19, 2025 | 27.5 | 1.32 (5.04%) |
| Oct 17, 2025 | 15 | -11.18 (-42.70%) |
| Nov 21, 2025 | 27.5 | 1.32 (5.04%) |
| Dec 19, 2025 | 35 | 8.82 (33.69%) |
| Feb 20, 2026 | 25 | -1.18 (-4.51%) |