Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Free account required
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
The research you are reading is the input layer for a discretionary options program we run for a small number of qualified investors. Minimum $1,000,000.
PRIVATE STRATEGY · BY QUALIFICATION
The same data. A different seat.
The research you are reading is the input layer for a discretionary options program we run for a small number of qualified investors.
Instrument
Long-dated equity options (LEAPS)
Signal source
USA Equity Algorithm, run on our own research data
Execution
Human-reviewed, discretionary
Construction
Diversified across 20+ concurrent positions
Minimum
$1,000,000
The algorithm produces the ideas. A human sizes each one against the portfolio and decides what actually gets executed, and what gets passed on.
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Technical signal · PHIKX
Neutral -3
A weighted read of 12 indicators already shown on this page. Every input is listed below, so you can check the gauge against the panels rather than taking it on trust.
By category
Trend
-351%
Momentum
-938%
Position
+2012%
Every input
Indicator
Reading
Score
Weight
Price vs SMA 20
28.53
-0.09
1.0
Price vs SMA 50
28.92
-0.31
1.4
Price vs SMA 200
28.35
+0.02
1.8
Price vs EMA 21
—
-0.15
0.8
Golden cross
2.0% apart
+0.25
1.6
MACD histogram
0.021
+0.06
1.2
RSI 14
43.1
-0.21
1.1
1-month return
-3.07%
-0.26
1.0
3-month return
-5.24%
-0.24
0.9
1-year return
+10.60%
+0.24
0.7
Bollinger position
Inside bands
+0.25
0.7
52-week range
57% of range
+0.15
0.8
What this is, and what it is not
Each indicator is scored from -1 to +1 and multiplied by a fixed weight. The gauge is the weighted average of the inputs that have data, so a symbol without analyst coverage or insider filings is scored on what exists rather than marked down for what is missing. That is why an ETF and a large-cap equity can both produce a reading.
The weights were chosen by us. They are not fitted to historical returns, not backtested, and carry no claim of predictive power. Two reasonable people would pick different weights and get a different number.
This is a summary of mechanical indicators, not a recommendation. It reads price history and published figures. It knows nothing about the business, the filings, the sector, litigation, an earnings date next week, or anything you know. Momentum indicators describe what has already happened. USA Equity Research LLC is not a registered investment adviser, and nothing here is advice.