(UNG)
Max Pain By Strike
UNG trades at $12.84, 2.7% above the near-term max pain of $12.5 expiring Aug 20, 2025 (4 days). Price stability likely with balanced options positioning at this level. Max pain is falling across expirations ($12.5-$15), signaling increased put positioning or downside protection. Key magnetic zone at 13 where 5 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
Max Pain By Expiry
Max pain for UNG shows a downward trend from 15 to 12.5, indicating bearish sentiment or hedging activity. The 18% spread signals divergent expectations across timeframes. Most levels above 12.84 could support dips. Strong magnetic level at 13 (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 20, 2025 | 12.5 | -0.34 (-2.61%) |
| Aug 22, 2025 | 13 | 0.16 (1.29%) |
| Aug 27, 2025 | 12.5 | -0.34 (-2.61%) |
| Aug 29, 2025 | 13.5 | 0.66 (5.18%) |
| Sep 5, 2025 | 14 | 1.16 (9.08%) |
| Sep 12, 2025 | 13.5 | 0.66 (5.18%) |
| Sep 19, 2025 | 14 | 1.16 (9.08%) |
| Sep 26, 2025 | 13.5 | 0.66 (5.18%) |
| Oct 17, 2025 | 13 | 0.16 (1.29%) |
| Jan 16, 2026 | 13 | 0.16 (1.29%) |
| Apr 17, 2026 | 15 | 2.16 (16.87%) |
| Jan 15, 2027 | 15 | 2.16 (16.87%) |