Canadian National Railway (CNI)

CNI trades at $94.3, pinned near the near-term max pain of $95 expiring Sep 19, 2025 (31 days). Price stability likely with balanced options positioning at this level. Max pain is rising across expirations ($80-$100), reflecting growing call interest at higher strikes. Key magnetic zone at 100 where 2 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.

Max pain for CNI shows an upward trend from 80 to 100, suggesting bullish positioning in longer-dated options. The 21% spread signals divergent expectations across timeframes. Most levels above 94.3 could support dips. Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.