(SPY)
Max Pain By Strike
SPY trades at $650.36, pinned near the near-term max pain of $647 expiring Sep 10, 2025 (0 days). Price stability likely with balanced options positioning at this level. Max pain is stable across expirations ($555-$651), indicating stable market expectations. Key magnetic zone at 640 where 5 expirations converge.
Max Pain By Expiry
Max pain for SPY shows stable levels around 629.50, reflecting balanced market expectations. The 15% spread signals divergent expectations across timeframes. Most levels below 650.36 may cap rallies. Strong magnetic level at 640 (5 expirations). 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 10, 2025 | 647 | -3.36 (-0.52%) |
| Sep 11, 2025 | 647 | -3.36 (-0.52%) |
| Sep 12, 2025 | 645 | -5.36 (-0.82%) |
| Sep 15, 2025 | 651 | 0.64 (0.10%) |
| Sep 16, 2025 | 646 | -4.36 (-0.67%) |
| Sep 17, 2025 | 644 | -6.36 (-0.98%) |
| Sep 18, 2025 | 640 | -10.36 (-1.59%) |
| Sep 19, 2025 | 630 | -20.36 (-3.13%) |
| Sep 22, 2025 | 645 | -5.36 (-0.82%) |
| Sep 23, 2025 | 575 | -75.36 (-11.59%) |
| Sep 26, 2025 | 642.5 | -7.86 (-1.21%) |
| Sep 30, 2025 | 636 | -14.36 (-2.21%) |
| Oct 3, 2025 | 640 | -10.36 (-1.59%) |
| Oct 10, 2025 | 645 | -5.36 (-0.82%) |
| Oct 17, 2025 | 640 | -10.36 (-1.59%) |
| Oct 24, 2025 | 650 | -0.36 (-0.06%) |
| Oct 31, 2025 | 630 | -20.36 (-3.13%) |
| Nov 21, 2025 | 640 | -10.36 (-1.59%) |
| Nov 28, 2025 | 633 | -17.36 (-2.67%) |
| Dec 19, 2025 | 605 | -45.36 (-6.97%) |
| Dec 31, 2025 | 600 | -50.36 (-7.74%) |
| Jan 16, 2026 | 600 | -50.36 (-7.74%) |
| Jan 30, 2026 | 638 | -12.36 (-1.90%) |
| Feb 20, 2026 | 645 | -5.36 (-0.82%) |
| Feb 27, 2026 | 644 | -6.36 (-0.98%) |
| Mar 20, 2026 | 605 | -45.36 (-6.97%) |
| Mar 31, 2026 | 625 | -25.36 (-3.90%) |
| Jun 18, 2026 | 595 | -55.36 (-8.51%) |
| Jun 30, 2026 | 650 | -0.36 (-0.06%) |
| Sep 18, 2026 | 640 | -10.36 (-1.59%) |
| Dec 18, 2026 | 555 | -95.36 (-14.66%) |
| Jan 15, 2027 | 645 | -5.36 (-0.82%) |
| Dec 17, 2027 | 600 | -50.36 (-7.74%) |