Callon Petroleum (CPE)

CPE trades at $35.76, 78.8% above the near-term max pain of $20 expiring Jan 16, 2026 (154 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is stable across expirations ($20-$20), indicating stable market expectations. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for CPE shows stable levels around 20.00, reflecting balanced market expectations. The 0% spread suggests strong consensus on fair value. Most levels below 35.76 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.