Max Pain

When I first heard about the max pain strategy, I thought it sounded dramatic — like something out of a movie. But in reality, it’s one of the most logical

If you’ve ever seen SPX or SPY gravitate toward a seemingly arbitrary level on a Friday afternoon, you might’ve witnessed expiration pinning in action. Some traders treat it like gospel.

Why SPY Max Pain Matters More Than You Think If you trade SPY options, understanding SPY max pain can give you a serious edge. This concept — the price level