Cenovus Energy Inc. (CVE)

CVE trades at $14.97, 15.2% above the near-term max pain of $13 expiring Sep 19, 2025 (31 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($13-$16), signaling increased put positioning or downside protection. Key magnetic zone at 13 where 3 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for CVE shows a downward trend from 16 to 13, indicating bearish sentiment or hedging activity. The 21% spread signals divergent expectations across timeframes. Levels distributed around 14.97. Strong magnetic level at 13 (3 expirations). Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.