(TAN)
Max Pain By Strike
TAN trades at $39.9, 9.3% above the near-term max pain of $36.5 expiring Aug 22, 2025 (5 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is rising across expirations ($20-$45), reflecting growing call interest at higher strikes. Key magnetic zone at 37 where 6 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
Max Pain By Expiry
Max pain for TAN shows an upward trend from 20 to 45, suggesting bullish positioning in longer-dated options. The 75% spread signals divergent expectations across timeframes. Most levels below 39.9 may cap rallies. Strong magnetic level at 37 (6 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 22, 2025 | 36.5 | -3.40 (-8.52%) |
| Aug 29, 2025 | 36.5 | -3.40 (-8.52%) |
| Sep 5, 2025 | 38 | -1.90 (-4.76%) |
| Sep 12, 2025 | 37 | -2.90 (-7.27%) |
| Sep 19, 2025 | 35 | -4.90 (-12.28%) |
| Sep 26, 2025 | 35 | -4.90 (-12.28%) |
| Oct 17, 2025 | 34 | -5.90 (-14.79%) |
| Nov 21, 2025 | 37 | -2.90 (-7.27%) |
| Dec 19, 2025 | 38 | -1.90 (-4.76%) |
| Jan 16, 2026 | 37 | -2.90 (-7.27%) |
| Feb 20, 2026 | 37 | -2.90 (-7.27%) |
| Mar 20, 2026 | 40 | 0.10 (0.25%) |
| Apr 17, 2026 | 28 | -11.90 (-29.82%) |
| May 15, 2026 | 20 | -19.90 (-49.87%) |
| Jun 18, 2026 | 20 | -19.90 (-49.87%) |
| Jul 17, 2026 | 20 | -19.90 (-49.87%) |
| Aug 21, 2026 | 20 | -19.90 (-49.87%) |
| Sep 18, 2026 | 45 | 5.10 (12.78%) |
| Nov 20, 2026 | 36 | -3.90 (-9.77%) |
| Jan 15, 2027 | 35 | -4.90 (-12.28%) |