(TZA)
Max Pain By Strike
TZA trades at $8.89, pinned near the near-term max pain of $9 expiring Sep 12, 2025 (3 days). Price stability likely with balanced options positioning at this level. Max pain is falling across expirations ($7.5-$16), signaling increased put positioning or downside protection. Key magnetic zone at 9 where 4 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 16 to 7.5, indicating bearish sentiment or hedging activity. The 84% spread signals divergent expectations across timeframes. Most levels above 8.89 could support dips. Strong magnetic level at 9 (4 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 |
|---|---|---|
| Sep 12, 2025 | 9 | 0.11 (1.21%) |
| Sep 19, 2025 | 9 | 0.11 (1.21%) |
| Sep 26, 2025 | 9.5 | 0.61 (6.84%) |
| Oct 3, 2025 | 9.5 | 0.61 (6.84%) |
| Oct 10, 2025 | 9 | 0.11 (1.21%) |
| Oct 17, 2025 | 16 | 7.11 (79.93%) |
| Oct 24, 2025 | 8 | -0.89 (-10.03%) |
| Dec 19, 2025 | 7.5 | -1.39 (-15.66%) |
| Jan 16, 2026 | 13 | 4.11 (46.20%) |
| Apr 17, 2026 | 9 | 0.11 (1.21%) |
| Jan 15, 2027 | 12 | 3.11 (34.95%) |