(SPYI)

SPYI trades at $51.74, 7.8% above the near-term max pain of $48 expiring Sep 19, 2025 (32 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($7-$9600), signaling increased put positioning or downside protection. Key magnetic zone at 49 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for SPYI shows a downward trend from 9600 to 7, indicating bearish sentiment or hedging activity. The 587% spread signals divergent expectations across timeframes. Most levels below 51.74 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.