Cenovus Energy Inc. (CVE)
Cenovus Energy Max Pain By Strike
CVE trades at $16.3, 8.7% above the near-term max pain of $15 expiring Sep 19, 2025 (9 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($15-$16), signaling increased put positioning or downside protection. Key magnetic zone at 15 where 5 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
Cenovus Energy Max Pain By Expiry
Max pain for CVE shows a downward trend from 16 to 15, indicating bearish sentiment or hedging activity. The 7% spread suggests strong consensus on fair value. Most levels below 16.3 may cap rallies. Strong magnetic level at 15 (5 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 | 15 | -1.30 (-7.95%) |
| Oct 17, 2025 | 15 | -1.30 (-7.95%) |
| Dec 19, 2025 | 15 | -1.30 (-7.95%) |
| Jan 16, 2026 | 15 | -1.30 (-7.95%) |
| Mar 20, 2026 | 16 | -0.30 (-1.81%) |
| Jan 15, 2027 | 15 | -1.30 (-7.95%) |