TXNM Energy Inc. (TXNM)

TXNM trades at $56.95, 89.8% above the near-term max pain of $30 expiring Oct 17, 2025 (11 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($30-$60), signaling increased put positioning or downside protection. Key magnetic zone at 55 where 3 expirations converge.

Max pain for TXNM shows a downward trend from 60 to 30, indicating bearish sentiment or hedging activity. The 63% spread signals divergent expectations across timeframes. Most levels below 56.95 may cap rallies. Strong magnetic level at 55 (3 expirations). Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.