CMG (CMG) options memo

The Read

CMG is up 3.00% today at $32.96.

Options traders lean neutral into 2026-08-14, and neutral further out.

A move through $34.81 would change how dealers hedge this stock.

Key numbers

• Spot: $32.96
• Lean: neutral
• Nearest expiry: Fri 8/14
• Implied move: 2.3%
• ATM implied volatility: 44.3%
• Max pain: $33.50
• Pin strike: $34.00
• Gamma flip: $34.81
• Dealer positioning: SHORT GAMMA
• Call wall: $34.00
• Put wall: $34.00
• Put/call open interest: 2.042