Smith & Nephew (SNN)

SNN trades at $36.32, 81.6% above the near-term max pain of $20 expiring Oct 17, 2025 (12 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is rising across expirations ($7-$30), reflecting growing call interest at higher strikes. Key magnetic zone at 20 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for SNN shows an upward trend from 7 to 30, suggesting bullish positioning in longer-dated options. The 113% spread signals divergent expectations across timeframes. Most levels below 36.32 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.