(SPY)
Max Pain By Strike
SPY trades at $644.93, 3.2% above the near-term max pain of $625 expiring Aug 15, 2025 (0 days). Price stability likely with balanced options positioning at this level. Max pain is stable across expirations ($560-$645), 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 621.72, reflecting balanced market expectations. The 14% spread signals divergent expectations across timeframes. Most levels below 644.93 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 |
|---|---|---|
| Aug 15, 2025 | 625 | -19.93 (-3.09%) |
| Aug 18, 2025 | 640 | -4.93 (-0.76%) |
| Aug 19, 2025 | 640 | -4.93 (-0.76%) |
| Aug 20, 2025 | 642 | -2.93 (-0.45%) |
| Aug 21, 2025 | 641 | -3.93 (-0.61%) |
| Aug 22, 2025 | 636 | -8.93 (-1.38%) |
| Aug 25, 2025 | 643 | -1.93 (-0.30%) |
| Aug 26, 2025 | 643 | -1.93 (-0.30%) |
| Aug 27, 2025 | 645 | 0.07 (0.01%) |
| Aug 28, 2025 | 565 | -79.93 (-12.39%) |
| Aug 29, 2025 | 621 | -23.93 (-3.71%) |
| Sep 5, 2025 | 636 | -8.93 (-1.38%) |
| Sep 12, 2025 | 640 | -4.93 (-0.76%) |
| Sep 19, 2025 | 620 | -24.93 (-3.87%) |
| Sep 26, 2025 | 640 | -4.93 (-0.76%) |
| Sep 30, 2025 | 620 | -24.93 (-3.87%) |
| Oct 17, 2025 | 630 | -14.93 (-2.31%) |
| Oct 31, 2025 | 620 | -24.93 (-3.87%) |
| Nov 21, 2025 | 630 | -14.93 (-2.31%) |
| Nov 28, 2025 | 610 | -34.93 (-5.42%) |
| Dec 19, 2025 | 600 | -44.93 (-6.97%) |
| Dec 31, 2025 | 600 | -44.93 (-6.97%) |
| Jan 16, 2026 | 595 | -49.93 (-7.74%) |
| Jan 30, 2026 | 635 | -9.93 (-1.54%) |
| Mar 20, 2026 | 600 | -44.93 (-6.97%) |
| Mar 31, 2026 | 625 | -19.93 (-3.09%) |
| Jun 18, 2026 | 585 | -59.93 (-9.29%) |
| Jun 30, 2026 | 633 | -11.93 (-1.85%) |
| Sep 18, 2026 | 645 | 0.07 (0.01%) |
| Dec 18, 2026 | 560 | -84.93 (-13.17%) |
| Jan 15, 2027 | 640 | -4.93 (-0.76%) |
| Dec 17, 2027 | 590 | -54.93 (-8.52%) |