Carnival Corporation & (CCL)
Carnival & Max Pain By Strike
CCL trades at $31.52, 21.2% above the near-term max pain of $26 expiring Sep 19, 2025 (6 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($20-$32), signaling increased put positioning or downside protection. Key magnetic zone at 31 where 3 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
Carnival & Max Pain By Expiry
Max pain for CCL shows a downward trend from 32 to 20, indicating bearish sentiment or hedging activity. The 44% spread signals divergent expectations across timeframes. Most levels below 31.52 may cap rallies. Strong magnetic level at 31 (3 expirations). Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.
Max Pain Table
| Expiration Date | Max Pain | Max Pain vs Current Price |
|---|---|---|
| Sep 19, 2025 | 26 | -5.52 (-17.50%) |
| Sep 26, 2025 | 31 | -0.52 (-1.63%) |
| Oct 3, 2025 | 31 | -0.52 (-1.63%) |
| Oct 10, 2025 | 32 | 0.48 (1.54%) |
| Oct 17, 2025 | 29 | -2.52 (-7.98%) |
| Oct 24, 2025 | 31 | -0.52 (-1.63%) |
| Oct 31, 2025 | 32 | 0.48 (1.54%) |
| Dec 19, 2025 | 25 | -6.52 (-20.67%) |
| Jan 16, 2026 | 22 | -9.52 (-30.19%) |
| Mar 20, 2026 | 27 | -4.52 (-14.33%) |
| Apr 17, 2026 | 30 | -1.52 (-4.81%) |
| Jun 18, 2026 | 27 | -4.52 (-14.33%) |
| Sep 18, 2026 | 30 | -1.52 (-4.81%) |
| Dec 18, 2026 | 20 | -11.52 (-36.54%) |
| Jan 15, 2027 | 22 | -9.52 (-30.19%) |
| Dec 17, 2027 | 23 | -8.52 (-27.02%) |