Ultrapar Participações S.... (UGP)

UGP trades at $3.94, 57.6% above the near-term max pain of $2.5 expiring Oct 17, 2025 (19 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($2.5-$95), signaling increased put positioning or downside protection. Key magnetic zone at 3 where 3 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for UGP shows a downward trend from 95 to 2.5, indicating bearish sentiment or hedging activity. The 485% spread signals divergent expectations across timeframes. Levels distributed around 3.94. Strong magnetic level at 3 (3 expirations). Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.