FINNIFTY

Nifty Financial Services

27838.7 +227.25 (0.82%)

L: 27519.4 H: 27901.45

Max Pain - FINNIFTY

05 Dec 2025 02:07 PM IST

Live

Expiry

Max Pain for FINNIFTY is 27800

Historical data for FINNIFTY-27800-CE

LTP (27800 CE)

427.05 102.7

Open Interest

627 221

Historical data for FINNIFTY-27800-PE

LTP (27800 PE)

225.8 -111.7

Open Interest

643 417

Strike 23000 has a total call value of 0 versus a total put value of 194,675,975,000 Combined total value = 194,675,975,000

Strike 23100 has a total call value of 0 versus a total put value of 190,164,325,000 Combined total value = 190,164,325,000

Strike 23200 has a total call value of 0 versus a total put value of 185,652,675,000 Combined total value = 185,652,675,000

Strike 23300 has a total call value of 0 versus a total put value of 181,141,025,000 Combined total value = 181,141,025,000

Strike 23400 has a total call value of 0 versus a total put value of 176,629,375,000 Combined total value = 176,629,375,000

Strike 23500 has a total call value of 0 versus a total put value of 172,117,725,000 Combined total value = 172,117,725,000

Strike 23600 has a total call value of 0 versus a total put value of 167,622,975,000 Combined total value = 167,622,975,000

Strike 23650 has a total call value of 0 versus a total put value of 165,375,600,000 Combined total value = 165,375,600,000

Strike 23700 has a total call value of 0 versus a total put value of 163,128,225,000 Combined total value = 163,128,225,000

Strike 23750 has a total call value of 0 versus a total put value of 160,880,850,000 Combined total value = 160,880,850,000

Strike 23800 has a total call value of 0 versus a total put value of 158,633,475,000 Combined total value = 158,633,475,000

Strike 23850 has a total call value of 0 versus a total put value of 156,386,100,000 Combined total value = 156,386,100,000

Strike 23900 has a total call value of 0 versus a total put value of 154,138,725,000 Combined total value = 154,138,725,000

Strike 23950 has a total call value of 0 versus a total put value of 151,891,350,000 Combined total value = 151,891,350,000

Strike 24000 has a total call value of 0 versus a total put value of 149,643,975,000 Combined total value = 149,643,975,000

Strike 24050 has a total call value of 0 versus a total put value of 147,400,500,000 Combined total value = 147,400,500,000

Strike 24100 has a total call value of 0 versus a total put value of 145,157,025,000 Combined total value = 145,157,025,000

Strike 24150 has a total call value of 0 versus a total put value of 142,913,550,000 Combined total value = 142,913,550,000

Strike 24200 has a total call value of 0 versus a total put value of 140,670,075,000 Combined total value = 140,670,075,000

Strike 24250 has a total call value of 0 versus a total put value of 138,426,600,000 Combined total value = 138,426,600,000

Strike 24300 has a total call value of 0 versus a total put value of 136,183,125,000 Combined total value = 136,183,125,000

Strike 24350 has a total call value of 0 versus a total put value of 133,939,650,000 Combined total value = 133,939,650,000

Strike 24400 has a total call value of 0 versus a total put value of 131,696,175,000 Combined total value = 131,696,175,000

Strike 24450 has a total call value of 0 versus a total put value of 129,452,700,000 Combined total value = 129,452,700,000

Strike 24500 has a total call value of 0 versus a total put value of 127,209,225,000 Combined total value = 127,209,225,000

Strike 24550 has a total call value of 0 versus a total put value of 124,965,750,000 Combined total value = 124,965,750,000

Strike 24600 has a total call value of 0 versus a total put value of 122,722,275,000 Combined total value = 122,722,275,000

Strike 24650 has a total call value of 0 versus a total put value of 120,478,800,000 Combined total value = 120,478,800,000

Strike 24700 has a total call value of 0 versus a total put value of 118,235,325,000 Combined total value = 118,235,325,000

Strike 24750 has a total call value of 0 versus a total put value of 115,991,850,000 Combined total value = 115,991,850,000

Strike 24800 has a total call value of 0 versus a total put value of 113,748,375,000 Combined total value = 113,748,375,000

Strike 24850 has a total call value of 0 versus a total put value of 111,504,900,000 Combined total value = 111,504,900,000

Strike 24900 has a total call value of 0 versus a total put value of 109,261,425,000 Combined total value = 109,261,425,000

Strike 24950 has a total call value of 0 versus a total put value of 107,017,950,000 Combined total value = 107,017,950,000

Strike 25000 has a total call value of 0 versus a total put value of 104,774,475,000 Combined total value = 104,774,475,000

Strike 25050 has a total call value of 0 versus a total put value of 102,553,425,000 Combined total value = 102,553,425,000

Strike 25100 has a total call value of 0 versus a total put value of 100,332,375,000 Combined total value = 100,332,375,000

Strike 25150 has a total call value of 0 versus a total put value of 98,111,325,000 Combined total value = 98,111,325,000

Strike 25200 has a total call value of 0 versus a total put value of 95,890,275,000 Combined total value = 95,890,275,000

Strike 25250 has a total call value of 0 versus a total put value of 93,669,225,000 Combined total value = 93,669,225,000

Strike 25300 has a total call value of 0 versus a total put value of 91,448,175,000 Combined total value = 91,448,175,000

Strike 25350 has a total call value of 0 versus a total put value of 89,227,125,000 Combined total value = 89,227,125,000

Strike 25400 has a total call value of 0 versus a total put value of 87,006,075,000 Combined total value = 87,006,075,000

Strike 25450 has a total call value of 0 versus a total put value of 84,785,025,000 Combined total value = 84,785,025,000

Strike 25500 has a total call value of 0 versus a total put value of 82,563,975,000 Combined total value = 82,563,975,000

Strike 25550 has a total call value of 0 versus a total put value of 80,349,750,000 Combined total value = 80,349,750,000

Strike 25600 has a total call value of 0 versus a total put value of 78,135,525,000 Combined total value = 78,135,525,000

Strike 25650 has a total call value of 0 versus a total put value of 75,931,050,000 Combined total value = 75,931,050,000

Strike 25700 has a total call value of 0 versus a total put value of 73,726,575,000 Combined total value = 73,726,575,000

Strike 25750 has a total call value of 0 versus a total put value of 71,522,100,000 Combined total value = 71,522,100,000

Strike 25800 has a total call value of 0 versus a total put value of 69,317,625,000 Combined total value = 69,317,625,000

Strike 25850 has a total call value of 0 versus a total put value of 67,119,000,000 Combined total value = 67,119,000,000

Strike 25900 has a total call value of 0 versus a total put value of 64,920,375,000 Combined total value = 64,920,375,000

Strike 25950 has a total call value of 0 versus a total put value of 62,728,250,000 Combined total value = 62,728,250,000

Strike 26000 has a total call value of 0 versus a total put value of 60,536,125,000 Combined total value = 60,536,125,000

Strike 26050 has a total call value of 0 versus a total put value of 58,468,150,000 Combined total value = 58,468,150,000

Strike 26100 has a total call value of 0 versus a total put value of 56,400,175,000 Combined total value = 56,400,175,000

Strike 26150 has a total call value of 0 versus a total put value of 54,402,725,000 Combined total value = 54,402,725,000

Strike 26200 has a total call value of 0 versus a total put value of 52,405,275,000 Combined total value = 52,405,275,000

Strike 26250 has a total call value of 0 versus a total put value of 50,427,650,000 Combined total value = 50,427,650,000

Strike 26300 has a total call value of 0 versus a total put value of 48,450,025,000 Combined total value = 48,450,025,000

Strike 26350 has a total call value of 0 versus a total put value of 46,472,400,000 Combined total value = 46,472,400,000

Strike 26400 has a total call value of 0 versus a total put value of 44,494,775,000 Combined total value = 44,494,775,000

Strike 26450 has a total call value of 0 versus a total put value of 42,517,150,000 Combined total value = 42,517,150,000

Strike 26500 has a total call value of 0 versus a total put value of 40,539,525,000 Combined total value = 40,539,525,000

Strike 26550 has a total call value of 0 versus a total put value of 38,687,350,000 Combined total value = 38,687,350,000

Strike 26600 has a total call value of 0 versus a total put value of 36,835,175,000 Combined total value = 36,835,175,000

Strike 26650 has a total call value of 0 versus a total put value of 34,983,000,000 Combined total value = 34,983,000,000

Strike 26700 has a total call value of 0 versus a total put value of 33,130,825,000 Combined total value = 33,130,825,000

Strike 26750 has a total call value of 0 versus a total put value of 31,383,300,000 Combined total value = 31,383,300,000

Strike 26800 has a total call value of 0 versus a total put value of 29,652,350,000 Combined total value = 29,652,350,000

Strike 26850 has a total call value of 0 versus a total put value of 27,968,850,000 Combined total value = 27,968,850,000

Strike 26900 has a total call value of 0 versus a total put value of 26,285,350,000 Combined total value = 26,285,350,000

Strike 26950 has a total call value of 0 versus a total put value of 24,612,250,000 Combined total value = 24,612,250,000

Strike 27000 has a total call value of 0 versus a total put value of 22,939,150,000 Combined total value = 22,939,150,000

Strike 27050 has a total call value of 3,575,000 versus a total put value of 21,361,600,000 Combined total value = 21,365,175,000

Strike 27100 has a total call value of 7,150,000 versus a total put value of 19,784,050,000 Combined total value = 19,791,200,000

Strike 27150 has a total call value of 10,725,000 versus a total put value of 18,251,025,000 Combined total value = 18,261,750,000

Strike 27200 has a total call value of 14,300,000 versus a total put value of 16,718,000,000 Combined total value = 16,732,300,000

Strike 27250 has a total call value of 17,875,000 versus a total put value of 15,184,975,000 Combined total value = 15,202,850,000

Strike 27300 has a total call value of 21,450,000 versus a total put value of 13,651,950,000 Combined total value = 13,673,400,000

Strike 27350 has a total call value of 25,025,000 versus a total put value of 12,153,375,000 Combined total value = 12,178,400,000

Strike 27400 has a total call value of 28,600,000 versus a total put value of 10,658,050,000 Combined total value = 10,686,650,000

Strike 27450 has a total call value of 41,925,000 versus a total put value of 9,238,775,000 Combined total value = 9,280,700,000

Strike 27500 has a total call value of 55,250,000 versus a total put value of 7,826,325,000 Combined total value = 7,881,575,000

Strike 27550 has a total call value of 244,075,000 versus a total put value of 6,747,650,000 Combined total value = 6,991,725,000

Strike 27600 has a total call value of 442,975,000 versus a total put value of 5,692,375,000 Combined total value = 6,135,350,000

Strike 27650 has a total call value of 780,325,000 versus a total put value of 4,724,525,000 Combined total value = 5,504,850,000

Strike 27700 has a total call value of 1,129,050,000 versus a total put value of 3,806,075,000 Combined total value = 4,935,125,000

Strike 27750 has a total call value of 1,550,250,000 versus a total put value of 3,036,475,000 Combined total value = 4,586,725,000

Strike 27800 has a total call value of 1,980,225,000 versus a total put value of 2,295,475,000 Combined total value = 4,275,700,000

Strike 27850 has a total call value of 2,613,975,000 versus a total put value of 1,763,450,000 Combined total value = 4,377,425,000

Strike 27900 has a total call value of 3,270,150,000 versus a total put value of 1,292,850,000 Combined total value = 4,563,000,000

Strike 27950 has a total call value of 4,013,100,000 versus a total put value of 906,750,000 Combined total value = 4,919,850,000

Strike 28000 has a total call value of 4,786,925,000 versus a total put value of 536,250,000 Combined total value = 5,323,175,000

Strike 28050 has a total call value of 5,849,025,000 versus a total put value of 393,900,000 Combined total value = 6,242,925,000

Strike 28100 has a total call value of 6,945,575,000 versus a total put value of 251,550,000 Combined total value = 7,197,125,000

Strike 28150 has a total call value of 8,146,125,000 versus a total put value of 155,350,000 Combined total value = 8,301,475,000

Strike 28200 has a total call value of 9,360,325,000 versus a total put value of 59,150,000 Combined total value = 9,419,475,000

Strike 28250 has a total call value of 11,116,950,000 versus a total put value of 45,500,000 Combined total value = 11,162,450,000

Strike 28300 has a total call value of 12,951,250,000 versus a total put value of 36,400,000 Combined total value = 12,987,650,000

Strike 28350 has a total call value of 14,850,225,000 versus a total put value of 27,300,000 Combined total value = 14,877,525,000

Strike 28400 has a total call value of 16,749,200,000 versus a total put value of 18,200,000 Combined total value = 16,767,400,000

Strike 28450 has a total call value of 18,655,650,000 versus a total put value of 9,100,000 Combined total value = 18,664,750,000

Strike 28500 has a total call value of 20,578,675,000 versus a total put value of 0 Combined total value = 20,578,675,000

Strike 28550 has a total call value of 22,629,425,000 versus a total put value of 0 Combined total value = 22,629,425,000

Strike 28600 has a total call value of 24,680,175,000 versus a total put value of 0 Combined total value = 24,680,175,000

Strike 28650 has a total call value of 26,824,850,000 versus a total put value of 0 Combined total value = 26,824,850,000

Strike 28700 has a total call value of 28,969,525,000 versus a total put value of 0 Combined total value = 28,969,525,000

Strike 28750 has a total call value of 31,114,200,000 versus a total put value of 0 Combined total value = 31,114,200,000

Strike 28800 has a total call value of 33,281,300,000 versus a total put value of 0 Combined total value = 33,281,300,000

Strike 28850 has a total call value of 35,545,250,000 versus a total put value of 0 Combined total value = 35,545,250,000

Strike 28900 has a total call value of 37,809,200,000 versus a total put value of 0 Combined total value = 37,809,200,000

Strike 28950 has a total call value of 40,196,000,000 versus a total put value of 0 Combined total value = 40,196,000,000

Strike 29000 has a total call value of 42,582,800,000 versus a total put value of 0 Combined total value = 42,582,800,000

Strike 29050 has a total call value of 45,198,725,000 versus a total put value of 0 Combined total value = 45,198,725,000

Strike 29100 has a total call value of 47,888,750,000 versus a total put value of 0 Combined total value = 47,888,750,000

Strike 29150 has a total call value of 50,578,775,000 versus a total put value of 0 Combined total value = 50,578,775,000

Strike 29200 has a total call value of 53,268,800,000 versus a total put value of 0 Combined total value = 53,268,800,000

Strike 29250 has a total call value of 55,995,875,000 versus a total put value of 0 Combined total value = 55,995,875,000

Strike 29300 has a total call value of 58,722,950,000 versus a total put value of 0 Combined total value = 58,722,950,000

Strike 29350 has a total call value of 61,450,025,000 versus a total put value of 0 Combined total value = 61,450,025,000

Strike 29400 has a total call value of 64,177,100,000 versus a total put value of 0 Combined total value = 64,177,100,000

Strike 29450 has a total call value of 66,904,175,000 versus a total put value of 0 Combined total value = 66,904,175,000

Strike 29500 has a total call value of 69,631,250,000 versus a total put value of 0 Combined total value = 69,631,250,000

Strike 29550 has a total call value of 72,457,450,000 versus a total put value of 0 Combined total value = 72,457,450,000

Strike 29600 has a total call value of 75,283,650,000 versus a total put value of 0 Combined total value = 75,283,650,000

Strike 29650 has a total call value of 78,246,025,000 versus a total put value of 0 Combined total value = 78,246,025,000

Strike 29700 has a total call value of 81,208,400,000 versus a total put value of 0 Combined total value = 81,208,400,000

Strike 29750 has a total call value of 84,170,775,000 versus a total put value of 0 Combined total value = 84,170,775,000

Strike 29800 has a total call value of 87,133,150,000 versus a total put value of 0 Combined total value = 87,133,150,000

Strike 29850 has a total call value of 90,099,100,000 versus a total put value of 0 Combined total value = 90,099,100,000

Strike 29900 has a total call value of 93,065,050,000 versus a total put value of 0 Combined total value = 93,065,050,000

Strike 29950 has a total call value of 96,031,000,000 versus a total put value of 0 Combined total value = 96,031,000,000

Strike 30000 has a total call value of 98,996,950,000 versus a total put value of 0 Combined total value = 98,996,950,000

Strike 30050 has a total call value of 101,967,125,000 versus a total put value of 0 Combined total value = 101,967,125,000

Strike 30100 has a total call value of 104,937,300,000 versus a total put value of 0 Combined total value = 104,937,300,000

Strike 30150 has a total call value of 107,907,475,000 versus a total put value of 0 Combined total value = 107,907,475,000

Strike 30200 has a total call value of 110,877,650,000 versus a total put value of 0 Combined total value = 110,877,650,000

Strike 30250 has a total call value of 113,847,825,000 versus a total put value of 0 Combined total value = 113,847,825,000

Strike 30300 has a total call value of 116,818,000,000 versus a total put value of 0 Combined total value = 116,818,000,000

Strike 30350 has a total call value of 119,788,175,000 versus a total put value of 0 Combined total value = 119,788,175,000

Strike 30400 has a total call value of 122,758,350,000 versus a total put value of 0 Combined total value = 122,758,350,000

Strike 30450 has a total call value of 125,728,525,000 versus a total put value of 0 Combined total value = 125,728,525,000

Strike 30500 has a total call value of 128,698,700,000 versus a total put value of 0 Combined total value = 128,698,700,000

Max-Pain Table for Stocks

Max-Pain Table Expiry

Note:- click on symbol to see more detailed view

Max Pain Table (Stocks)
Symbol	Symbol Ltp	Max Pain
360ONE	1150	1140
ABB	5159	5150
ABCAPITAL	359	350
ADANIENSOL	973.3	980
ADANIENT	2259	2300
ADANIGREEN	1015.6	1020
ADANIPORTS	1511.6	1500
ALKEM	5680	5700
AMBER	6525.5	6600
AMBUJACEM	533.85	550
ANGELONE	2635.2	2650
APLAPOLLO	1772.6	1760
APOLLOHOSP	7189	7350
ASHOKLEY	160.22	157
ASIANPAINT	2964.8	2920
ASTRAL	1459.7	1460
AUBANK	956.4	940
AUROPHARMA	1216.1	1220
AXISBANK	1280.3	1280
BAJAJ-AUTO	9094	9100
BAJAJFINSV	2100.6	2080
BAJFINANCE	1054.7	1030
BANDHANBNK	140.95	150
BANKBARODA	292.25	290
BANKINDIA	142.51	145
BDL	1515.8	1520
BEL	407.85	410
BHARATFORG	1402.2	1400
BHARTIARTL	2098.4	2100
BHEL	277.8	285
BIOCON	391.65	395
BLUESTARCO	1728.5	1760
BOSCHLTD	36860	36500
BPCL	360.7	362.5
BRITANNIA	5938	5850
BSE	2814	2800
CAMS	772.9	780
CANBK	148.58	150
CDSL	1546.5	1580
CGPOWER	660.05	680
CHOLAFIN	1721.3	1700
CIPLA	1524.8	1530
COALINDIA	380	380
COFORGE	1979.8	1860
COLPAL	2158.3	2180
CONCOR	512.05	520
CROMPTON	260.45	270
CUMMINSIND	4457	4500
CYIENT	1172.3	1160
DABUR	508.9	515
DALBHARAT	1991.7	2000
DELHIVERY	405.35	420
DIVISLAB	6461.5	6450
DIXON	13853	14500
DLF	718.6	730
DMART	3946.4	4000
DRREDDY	1274.4	1270
EICHERMOT	7170	7100
ETERNAL	293.5	305
EXIDEIND	378.45	380
FEDERALBNK	258.95	255
FORTIS	890	910
GAIL	170.08	175
GLENMARK	1974.6	1940
GMRAIRPORT	103.03	102
GODREJCP	1132.9	1140
GODREJPROP	2080.6	2100
GRASIM	2743.6	2760
HAL	4462.1	4500
HAVELLS	1427.5	1440
HCLTECH	1683.5	1640
HDFCAMC	2575.5	2650
HDFCBANK	1001.4	1000
HDFCLIFE	770	770
HEROMOTOCO	6337.5	6200
HFCL	68.95	70
HINDALCO	825.8	800
HINDPETRO	450.6	455
HINDUNILVR	2329	2360
HINDZINC	498.45	490
HUDCO	222.6	230
ICICIBANK	1388.1	1380
ICICIGI	1976.5	2000
ICICIPRULI	623.85	620
IDEA	10.79	10
IDFCFIRSTB	80.86	80
IEX	145.49	145
IIFL	568	570
INDHOTEL	730.45	740
INDIANB	809.25	830
INDIGO	5408	5500
INDUSINDBK	870.25	860
INDUSTOWER	414.6	410
INFY	1613.7	1600
INOXWIND	129.41	137.5
IOC	163.2	164
IRCTC	674.5	690
IREDA	133.3	140
IRFC	114.14	117
ITC	404.6	405
JINDALSTEL	1010	1030
JIOFIN	302.8	305
JSWENERGY	454.1	480
JSWSTEEL	1158.3	1150
JUBLFOOD	593.2	600
KALYANKJIL	490.2	490
KAYNES	4580	5000
KEI	4156.2	4150
KFINTECH	1071.2	1080
KOTAKBANK	2155	2120
KPITTECH	1268	1240
LAURUSLABS	1025.5	1000
LICHSGFIN	542.05	555
LICI	868.2	900
LODHA	1106.5	1140
LT	4031.9	4020
LTF	307.4	302.5
LTIM	6284.5	6200
LUPIN	2100.6	2080
M&M	3712.2	3700
MANAPPURAM	277.75	280
MANKIND	2203.4	2250
MARICO	733.2	730
MARUTI	16206	16100
MAXHEALTH	1096.9	1120
MAZDOCK	2618.8	2700
MCX	10310	10100
MFSL	1686.1	1700
MOTHERSON	117.23	115
MPHASIS	2945	2900
MUTHOOTFIN	3787.6	3700
NATIONALUM	274.05	265
NAUKRI	1388.8	1380
NBCC	111.98	115
NCC	168.32	172.5
NESTLEIND	1242.6	1260
NHPC	76.98	78
NMDC	76.18	76
NTPC	323.25	325
NUVAMA	7150	7200
NYKAA	254.4	260
OBEROIRLTY	1655	1660
OFSS	8207	8200
OIL	410.5	415
ONGC	241.83	244
PAGEIND	37495	38000
PATANJALI	543.15	550
PAYTM	1348.7	1320
PERSISTENT	6511	6400
PETRONET	275	280
PFC	352.8	365
PGEL	562.6	580
PHOENIXLTD	1732.8	1740
PIDILITIND	1475	1480
PIIND	3410.4	3450
PNB	121.15	122
PNBHOUSING	902	900
POLICYBZR	1878.2	1860
POLYCAB	7227.5	7400
POWERGRID	270	275
POWERINDIA	19350	20500
PPLPHARMA	179.77	185
PRESTIGE	1688.7	1680
RBLBANK	305.9	310
RECLTD	352.65	360
RELIANCE	1535.9	1540
RVNL	310.9	315
SAIL	132.9	135
SAMMAANCAP	148.65	170
SBICARD	882.6	880
SBILIFE	2024.8	2020
SBIN	963.65	970
SHREECEM	26255	26500
SHRIRAMFIN	853.9	840
SIEMENS	3308	3300
SOLARINDS	12819	13500
SONACOMS	493.75	500
SRF	2875.9	2900
SUNPHARMA	1806	1800
SUPREMEIND	3366.8	3450
SUZLON	51.25	54
SYNGENE	639.55	640
TATACONSUM	1161.3	1170
TATAELXSI	5246.5	5300
TATAMOTORS	0	320
TATAPOWER	384.5	390
TATASTEEL	167.33	170
TATATECH	667.25	680
TCS	3228.8	3200
TECHM	1574.8	1520
TIINDIA	2669.4	2800
TITAGARH	794.5	820
TITAN	3818.7	3860
TMPV	354.7	360
TORNTPHARM	3793.5	3750
TORNTPOWER	1285.2	1300
TRENT	4183.7	4300
TVSMOTOR	3653.6	3600
ULTRACEMCO	11597	11700
UNIONBANK	152.64	155
UNITDSPR	1454.7	1440
UNOMINDA	1273.6	1300
UPL	756.65	760
VBL	478.65	470
VEDL	528.55	520
VOLTAS	1325.2	1360
WIPRO	259.4	255
YESBANK	22.57	23
ZYDUSLIFE	933.65	940

Note:

Stock LTP > Max Pain	Bearish Trend
Stock LTP < Max Pain	Bullish Trend

Frequently Asked Questions

Max Pain, also known as the max pain price, is the strike price at which the maximum number of option contracts (both puts and calls) would expire worthless, causing the largest financial losses for option holders at expiration. This price point represents the level where option writers would experience the least payout obligation.

The max pain theory suggests that as expiration approaches, market makers and option writers may attempt to influence the stock price toward this level to minimize their payout obligations, making it a significant reference point for traders analyzing option expiration dynamics.

Max Pain is calculated by determining the total dollar value of in-the-money options at each strike price. Here's the step-by-step process:

For each strike price: Calculate the difference between the current stock price and the strike price.
Multiply by Open Interest: Multiply this difference by the open interest (number of contracts) at that strike for both call and put options.
Sum the values: Add together the dollar value for put options and call options at each strike price.
Repeat for all strikes: Perform this calculation for every available strike price in the option chain.
Identify the maximum: The strike price with the highest combined dollar value is the Max Pain price.

This calculation helps identify the price level where option writers would face the maximum financial loss if the stock closes at that price on expiration day.

Traders can incorporate Max Pain analysis into their trading strategy in several ways:

Expiration Day Trading: As option expiration approaches, traders can use Max Pain as a potential support or resistance level, as market makers may attempt to push the price toward this level.
Option Selection: Understanding Max Pain helps traders choose strike prices that are less likely to be manipulated, potentially improving their option trade outcomes.
Risk Management: If a stock is trading far from Max Pain before expiration, traders can anticipate potential price movement toward this level and adjust their positions accordingly.
Market Sentiment Indicator: Comparing the current stock price to Max Pain can provide insights into market sentiment and potential price direction near expiration.
Hedging Strategy: Option writers can use Max Pain to identify strike prices where they might face the least payout risk, helping them structure more efficient hedging strategies.

Max Pain provides insights into potential stock price behavior, especially near option expiration:

Price Magnet Effect: If the stock price is significantly above or below Max Pain before expiration, there may be a tendency for the price to move toward Max Pain as expiration approaches, as option writers hedge their positions.
Support/Resistance Level: Max Pain can act as a psychological and technical support or resistance level, especially on expiration day, as it represents the price where maximum option value would be lost.
Volatility Indicator: A large gap between current price and Max Pain may indicate higher potential volatility or price movement as expiration nears.
Market Maker Activity: Significant open interest concentration around Max Pain suggests where market makers might have the most incentive to influence price movement through their hedging activities.

Note: Max Pain is a theoretical concept and should be used in conjunction with other technical and fundamental analysis tools, as it does not guarantee price movement.

Max Pain is a dynamic value that changes continuously based on several factors:

Open Interest Changes: As traders open and close option positions, the open interest at different strike prices changes, which directly affects the Max Pain calculation.
Stock Price Movement: As the underlying stock price moves, different strike prices become in-the-money or out-of-the-money, altering the dollar value calculations.
Time Decay: As expiration approaches, the time value of options decreases, but the intrinsic value calculations for Max Pain continue to evolve with price movements.
New Option Contracts: When new strike prices are added or when significant new positions are opened, Max Pain may shift to reflect the new distribution of open interest.

For accurate Max Pain analysis, traders should monitor it regularly, especially in the days leading up to expiration, as it can shift significantly as market conditions and option positions change.

Max Pain and Spot Price are two distinct concepts that serve different purposes in options trading:

Spot Price (Current Market Price): This is the current trading price of the underlying stock or index in the market. It represents the real-time value at which the asset can be bought or sold immediately.
Max Pain Price: This is a calculated theoretical price level based on option open interest data. It represents the strike price where option writers would face minimum payout obligations, not necessarily where the stock is currently trading.

The relationship between these two prices is crucial: when the spot price is far from Max Pain, traders may anticipate potential price movement toward Max Pain as expiration approaches. However, this is not guaranteed, and many other factors influence stock price movement.

No, Max Pain is not always accurate and should not be used as the sole indicator for predicting stock price movement. Here's why:

Market Forces: Strong fundamental news, earnings reports, or significant market events can override the Max Pain effect and drive prices in unexpected directions.
Institutional Activity: Large institutional trades, algorithmic trading, and other market participants may have different objectives than minimizing option payouts.
Limited Influence: While market makers may attempt to influence price toward Max Pain, their ability to do so is limited, especially in highly liquid stocks with strong directional momentum.
Multiple Expirations: Stocks often have options expiring on different dates (weekly, monthly), which means multiple Max Pain levels may exist simultaneously, reducing the predictive power of any single level.
Statistical Tool: Max Pain is best viewed as a statistical tool that provides context about option market dynamics rather than a guaranteed price target.

Traders should use Max Pain as one of many tools in their analysis, combining it with technical analysis, fundamental analysis, and market sentiment indicators for more comprehensive decision-making.

Max Pain becomes increasingly relevant as option expiration approaches:

Last Trading Week: Max Pain analysis is most useful during the final week before expiration, when option writers are actively hedging and the "pinning effect" (price movement toward Max Pain) is most likely to occur.
Expiration Day: On the day of expiration, Max Pain can serve as a key reference level, as market makers may attempt to keep the stock price near this level to minimize their payout obligations.
High Open Interest: Max Pain is more reliable when there is significant open interest concentrated around specific strike prices, as this indicates where option writers have the most exposure.
Low Volatility Periods: During periods of low market volatility, Max Pain may have a stronger influence, as there are fewer competing forces driving price movement.
Monthly Expirations: Monthly option expirations (typically the third Friday) often show stronger Max Pain effects compared to weekly expirations, due to higher open interest and more significant market maker involvement.

While Max Pain can be calculated at any time, its predictive value and practical application increase significantly as expiration approaches, making it particularly useful for short-term trading strategies focused on expiration week dynamics.

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