Commercial Metals (CMC)

CMC trades at $56.29, 7.2% above the near-term max pain of $52.5 expiring Aug 15, 2025 (0 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($32.5-$95), signaling increased put positioning or downside protection. Key magnetic zone at 53 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for CMC shows a downward trend from 95 to 32.5, indicating bearish sentiment or hedging activity. The 114% spread signals divergent expectations across timeframes. Most levels below 56.29 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.