Max Pain vs Spot Distance as Filter

Max pain is where most options expire worthless. When spot sits within 0.3% of max pain in the final two days, writers pin it -- fighting it is a trap. Feature max_pain_distance = |spot - max_pain| / spot. Filter: distance < 0.3% AND DTE < 2 -> quarter size or skip. Distance > 1% -> room to run, normal size. This is not a directional call; it is a sizing dial. The model never bets against the magnet when pinned; it steps aside or uses the pin as a boundary. Position sizing on max-pain distance is the difference between a framework and a gamble.