Centene Corporation (CNC)
Centene Max Pain By Strike
CNC trades at $29, 7.4% above the near-term max pain of $27 expiring Aug 22, 2025 (3 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is falling across expirations ($20-$30), signaling increased put positioning or downside protection. Key magnetic zone at 30 where 4 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
Centene Max Pain By Expiry
Max pain for CNC shows a downward trend from 30 to 20, indicating bearish sentiment or hedging activity. The 37% spread signals divergent expectations across timeframes. Most levels below 29 may cap rallies. Strong magnetic level at 30 (4 expirations). 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 |
|---|---|---|
| Aug 22, 2025 | 27 | -2.00 (-6.90%) |
| Aug 29, 2025 | 27 | -2.00 (-6.90%) |
| Sep 5, 2025 | 26 | -3.00 (-10.34%) |
| Sep 12, 2025 | 27 | -2.00 (-6.90%) |
| Sep 19, 2025 | 30 | 1.00 (3.45%) |
| Sep 26, 2025 | 26 | -3.00 (-10.34%) |
| Oct 17, 2025 | 27.5 | -1.50 (-5.17%) |
| Nov 21, 2025 | 27.5 | -1.50 (-5.17%) |
| Dec 19, 2025 | 30 | 1.00 (3.45%) |
| Jan 16, 2026 | 30 | 1.00 (3.45%) |
| Mar 20, 2026 | 30 | 1.00 (3.45%) |
| Jun 18, 2026 | 25 | -4.00 (-13.79%) |
| Sep 18, 2026 | 25 | -4.00 (-13.79%) |
| Jan 15, 2027 | 20 | -9.00 (-31.03%) |