Telefônica Brasil S.A. (VIV)

VIV trades at $12.34, 23.4% above the near-term max pain of $10 expiring Aug 15, 2025 (0 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($2.5-$10), signaling increased put positioning or downside protection. Key magnetic zone at 3 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for VIV shows a downward trend from 10 to 2.5, indicating bearish sentiment or hedging activity. The 120% spread signals divergent expectations across timeframes. Most levels below 12.34 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.