Commercial Metals (CMC)

CMC trades at $57.63, 15.3% above the near-term max pain of $50 expiring Sep 19, 2025 (31 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($50-$95), signaling increased put positioning or downside protection. Key magnetic zone at 53 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for CMC shows a downward trend from 95 to 50, indicating bearish sentiment or hedging activity. The 74% spread signals divergent expectations across timeframes. Levels distributed around 57.63. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.