Tenaris S.A. (TS)
Tenaris S.A. Max Pain By Strike
TS trades at $35.97, 4.1% below the near-term max pain of $37.5 expiring Aug 15, 2025 (0 days). Price stability likely with balanced options positioning at this level. Max pain is falling across expirations ($20-$95), signaling increased put positioning or downside protection. High dispersion in max pain levels suggests competing forces and potential volatility.
Tenaris S.A. Max Pain By Expiry
Max pain for TS shows a downward trend from 95 to 20, indicating bearish sentiment or hedging activity. The 178% spread signals divergent expectations across timeframes. Levels distributed around 35.97. 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 | 37.5 | 1.53 (4.25%) |
| Sep 19, 2025 | 32.5 | -3.47 (-9.65%) |
| Oct 17, 2025 | 20 | -15.97 (-44.40%) |
| Dec 19, 2025 | 35 | -0.97 (-2.70%) |
| Jan 16, 2026 | 50 | 14.03 (39.00%) |
| Mar 20, 2026 | 25 | -10.97 (-30.50%) |
| Dec 18, 2026 | 95 | 59.03 (164.11%) |