CMS Energy Corporation (CMS)

CMS trades at $72.49, 3.6% above the near-term max pain of $70 expiring Sep 19, 2025 (25 days). Price stability likely with balanced options positioning at this level. Max pain is falling across expirations ($40-$97.5), signaling increased put positioning or downside protection. Key magnetic zone at 70 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for CMS shows a downward trend from 97.5 to 40, indicating bearish sentiment or hedging activity. The 84% spread signals divergent expectations across timeframes. Most levels below 72.49 may cap rallies. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.