(CNBS)
Max Pain By Strike
CNBS trades at $30.66, 39.4% above the near-term max pain of $22 expiring Sep 19, 2025 (28 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($12-$24), signaling increased put positioning or downside protection. High dispersion in max pain levels suggests competing forces and potential volatility.
Max Pain By Expiry
Max pain for CNBS shows a downward trend from 24 to 12, indicating bearish sentiment or hedging activity. The 62% spread signals divergent expectations across timeframes. Most levels below 30.66 may cap rallies. 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 | 22 | -8.66 (-28.25%) |
| Oct 17, 2025 | 24 | -6.66 (-21.72%) |
| Nov 21, 2025 | 12 | -18.66 (-60.86%) |
| Feb 20, 2026 | 20 | -10.66 (-34.77%) |