Codexis Inc. (CDXS)

CDXS trades at $2.79, 11.6% above the near-term max pain of $2.5 expiring Sep 19, 2025 (30 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($2.5-$7.5), signaling increased put positioning or downside protection. Key magnetic zone at 3 where 4 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for CDXS shows a downward trend from 7.5 to 2.5, indicating bearish sentiment or hedging activity. The 143% spread signals divergent expectations across timeframes. Most levels below 2.79 may cap rallies. Strong magnetic level at 3 (4 expirations). Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.