Tenaris S.A. (TS)

TS trades at $35.36, pinned near the near-term max pain of $35 expiring Oct 17, 2025 (18 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. Key magnetic zone at 35 where 3 expirations converge.

Max pain for TS shows a downward trend from 95 to 20, indicating bearish sentiment or hedging activity. The 167% spread signals divergent expectations across timeframes. Levels distributed around 35.36. Strong magnetic level at 35 (3 expirations). Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.