(ZHDG)

ZHDG trades at $21.95, 29.1% above the near-term max pain of $17 expiring Sep 19, 2025 (34 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($15-$17), signaling increased put positioning or downside protection. Key magnetic zone at 17 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for ZHDG shows a downward trend from 17 to 15, indicating bearish sentiment or hedging activity. The 12% spread signals divergent expectations across timeframes. Most levels below 21.95 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.