CMS Energy Corporation (CMS)

CMS trades at $72.33, 11.3% above the near-term max pain of $65 expiring Oct 17, 2025 (11 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($65-$97.5), signaling increased put positioning or downside protection. Key magnetic zone at 70 where 3 expirations converge.

Max pain for CMS shows a downward trend from 97.5 to 65, indicating bearish sentiment or hedging activity. The 44% spread signals divergent expectations across timeframes. Most levels below 72.33 may cap rallies. Strong magnetic level at 70 (3 expirations). Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.