Ciena Corporation (CIEN)

CIEN trades at $151.44, 44.2% above the near-term max pain of $105 expiring Oct 17, 2025 (12 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($62.5-$145), signaling increased put positioning or downside protection. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for CIEN shows a downward trend from 145 to 62.5, indicating bearish sentiment or hedging activity. The 78% spread signals divergent expectations across timeframes. Most levels below 151.44 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.