(TZA)
Max Pain By Strike
TZA trades at $10.11, 3.7% below the near-term max pain of $10.5 expiring Aug 22, 2025 (5 days). Price stability likely with balanced options positioning at this level. Max pain is falling across expirations ($7.5-$17), signaling increased put positioning or downside protection. Key magnetic zone at 11 where 5 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
Max Pain By Expiry
Max pain for TZA shows a downward trend from 17 to 7.5, indicating bearish sentiment or hedging activity. The 84% spread signals divergent expectations across timeframes. Most levels above 10.11 could support dips. Strong magnetic level at 11 (5 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 | 10.5 | 0.39 (3.84%) |
| Aug 29, 2025 | 10 | -0.11 (-1.10%) |
| Sep 5, 2025 | 10.5 | 0.39 (3.84%) |
| Sep 12, 2025 | 11 | 0.89 (8.79%) |
| Sep 19, 2025 | 10 | -0.11 (-1.10%) |
| Sep 26, 2025 | 11 | 0.89 (8.79%) |
| Oct 17, 2025 | 17 | 6.89 (68.13%) |
| Dec 19, 2025 | 7.5 | -2.61 (-25.83%) |
| Jan 16, 2026 | 14 | 3.89 (38.46%) |
| Apr 17, 2026 | 11 | 0.89 (8.79%) |
| Jan 15, 2027 | 12 | 1.89 (18.68%) |