(CMBS)
Max Pain By Strike
CMBS trades at $48.96, 4.0% below the near-term max pain of $51 expiring Oct 17, 2025 (56 days). Price stability likely with balanced options positioning at this level. Max pain is falling across expirations ($8-$100), signaling increased put positioning or downside protection. High dispersion in max pain levels suggests competing forces and potential volatility.
Max Pain By Expiry
Max pain for CMBS shows a downward trend from 100 to 8, indicating bearish sentiment or hedging activity. The 154% spread signals divergent expectations across timeframes. Most levels above 48.96 could support dips. 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 |
|---|---|---|
| Oct 17, 2025 | 51 | 2.04 (4.17%) |
| Jan 16, 2026 | 80 | 31.04 (63.40%) |
| Dec 18, 2026 | 8 | -40.96 (-83.66%) |
| Jan 1, 2031 | 100 | 51.04 (104.25%) |