[--[65.84.65.76]--]

NIFTY

Nifty
26153.75 +120.00 (0.46%)
L: 25985.35 H: 26202.6
Max Pain - NIFTY
05 Dec 2025 02:07 PM IST
Live


Strike  23750  has a total call value of 0  versus a total put value of  45,713,406,000,000 Combined total value = 45,713,406,000,000

Strike  23800  has a total call value of 0  versus a total put value of  44,520,511,875,000 Combined total value = 44,520,511,875,000

Strike  23850  has a total call value of 0  versus a total put value of  43,340,441,250,000 Combined total value = 43,340,441,250,000

Strike  23900  has a total call value of 0  versus a total put value of  42,161,515,875,000 Combined total value = 42,161,515,875,000

Strike  23950  has a total call value of 0  versus a total put value of  40,984,837,875,000 Combined total value = 40,984,837,875,000

Strike  24000  has a total call value of 375,000  versus a total put value of  39,809,566,875,000 Combined total value = 39,809,567,250,000

Strike  24050  has a total call value of 367,875,000  versus a total put value of  38,653,662,375,000 Combined total value = 38,654,030,250,000

Strike  24100  has a total call value of 735,375,000  versus a total put value of  37,498,792,875,000 Combined total value = 37,499,528,250,000

Strike  24150  has a total call value of 1,102,875,000  versus a total put value of  36,346,008,750,000 Combined total value = 36,347,111,625,000

Strike  24200  has a total call value of 1,470,375,000  versus a total put value of  35,194,959,000,000 Combined total value = 35,196,429,375,000

Strike  24250  has a total call value of 1,837,875,000  versus a total put value of  34,046,493,000,000 Combined total value = 34,048,330,875,000

Strike  24300  has a total call value of 2,205,375,000  versus a total put value of  32,899,105,875,000 Combined total value = 32,901,311,250,000

Strike  24350  has a total call value of 2,579,250,000  versus a total put value of  31,754,419,875,000 Combined total value = 31,756,999,125,000

Strike  24400  has a total call value of 2,953,125,000  versus a total put value of  30,610,656,375,000 Combined total value = 30,613,609,500,000

Strike  24450  has a total call value of 3,327,000,000  versus a total put value of  29,468,708,625,000 Combined total value = 29,472,035,625,000

Strike  24500  has a total call value of 3,700,875,000  versus a total put value of  28,328,080,125,000 Combined total value = 28,331,781,000,000

Strike  24550  has a total call value of 4,160,625,000  versus a total put value of  27,209,182,500,000 Combined total value = 27,213,343,125,000

Strike  24600  has a total call value of 4,622,250,000  versus a total put value of  26,092,301,250,000 Combined total value = 26,096,923,500,000

Strike  24650  has a total call value of 5,083,875,000  versus a total put value of  24,979,833,000,000 Combined total value = 24,984,916,875,000

Strike  24700  has a total call value of 5,545,500,000  versus a total put value of  23,869,425,750,000 Combined total value = 23,874,971,250,000

Strike  24750  has a total call value of 6,032,625,000  versus a total put value of  22,767,833,250,000 Combined total value = 22,773,865,875,000

Strike  24800  has a total call value of 6,522,750,000  versus a total put value of  21,669,286,125,000 Combined total value = 21,675,808,875,000

Strike  24850  has a total call value of 7,012,875,000  versus a total put value of  20,585,272,875,000 Combined total value = 20,592,285,750,000

Strike  24900  has a total call value of 7,508,625,000  versus a total put value of  19,503,740,625,000 Combined total value = 19,511,249,250,000

Strike  24950  has a total call value of 8,038,125,000  versus a total put value of  18,431,061,000,000 Combined total value = 18,439,099,125,000

Strike  25000  has a total call value of 8,567,625,000  versus a total put value of  17,362,714,875,000 Combined total value = 17,371,282,500,000

Strike  25050  has a total call value of 9,403,125,000  versus a total put value of  16,340,727,375,000 Combined total value = 16,350,130,500,000

Strike  25100  has a total call value of 10,261,875,000  versus a total put value of  15,325,129,875,000 Combined total value = 15,335,391,750,000

Strike  25150  has a total call value of 11,449,125,000  versus a total put value of  14,329,101,000,000 Combined total value = 14,340,550,125,000

Strike  25200  has a total call value of 12,644,625,000  versus a total put value of  13,342,320,375,000 Combined total value = 13,354,965,000,000

Strike  25250  has a total call value of 14,085,000,000  versus a total put value of  12,385,299,750,000 Combined total value = 12,399,384,750,000

Strike  25300  has a total call value of 15,564,000,000  versus a total put value of  11,437,030,500,000 Combined total value = 11,452,594,500,000

Strike  25350  has a total call value of 17,261,625,000  versus a total put value of  10,516,375,500,000 Combined total value = 10,533,637,125,000

Strike  25400  has a total call value of 19,022,250,000  versus a total put value of  9,606,595,500,000 Combined total value = 9,625,617,750,000

Strike  25450  has a total call value of 21,106,875,000  versus a total put value of  8,734,774,125,000 Combined total value = 8,755,881,000,000

Strike  25500  has a total call value of 23,305,125,000  versus a total put value of  7,872,066,375,000 Combined total value = 7,895,371,500,000

Strike  25550  has a total call value of 26,475,750,000  versus a total put value of  7,059,985,125,000 Combined total value = 7,086,460,875,000

Strike  25600  has a total call value of 29,794,125,000  versus a total put value of  6,262,106,625,000 Combined total value = 6,291,900,750,000

Strike  25650  has a total call value of 33,660,750,000  versus a total put value of  5,499,233,250,000 Combined total value = 5,532,894,000,000

Strike  25700  has a total call value of 37,833,750,000  versus a total put value of  4,754,754,375,000 Combined total value = 4,792,588,125,000

Strike  25750  has a total call value of 43,411,875,000  versus a total put value of  4,046,831,250,000 Combined total value = 4,090,243,125,000

Strike  25800  has a total call value of 49,359,000,000  versus a total put value of  3,366,743,625,000 Combined total value = 3,416,102,625,000

Strike  25850  has a total call value of 57,779,250,000  versus a total put value of  2,739,806,625,000 Combined total value = 2,797,585,875,000

Strike  25900  has a total call value of 67,347,000,000  versus a total put value of  2,139,863,625,000 Combined total value = 2,207,210,625,000

Strike  25950  has a total call value of 82,855,875,000  versus a total put value of  1,606,564,500,000 Combined total value = 1,689,420,375,000

Strike  26000  has a total call value of 103,411,125,000  versus a total put value of  1,126,875,750,000 Combined total value = 1,230,286,875,000

Strike  26050  has a total call value of 149,518,875,000  versus a total put value of  767,150,250,000 Combined total value = 916,669,125,000

Strike  26100  has a total call value of 207,880,875,000  versus a total put value of  472,759,875,000 Combined total value = 680,640,750,000

Strike  26150  has a total call value of 305,336,625,000  versus a total put value of  276,648,000,000 Combined total value = 581,984,625,000

Strike  26200  has a total call value of 439,035,375,000  versus a total put value of  146,005,125,000 Combined total value = 585,040,500,000

Strike  26250  has a total call value of 651,163,125,000  versus a total put value of  94,317,750,000 Combined total value = 745,480,875,000

Strike  26300  has a total call value of 897,590,625,000  versus a total put value of  59,542,125,000 Combined total value = 957,132,750,000

Strike  26350  has a total call value of 1,199,881,125,000  versus a total put value of  42,451,875,000 Combined total value = 1,242,333,000,000

Strike  26400  has a total call value of 1,527,765,750,000  versus a total put value of  28,892,250,000 Combined total value = 1,556,658,000,000

Strike  26450  has a total call value of 1,918,646,250,000  versus a total put value of  21,786,750,000 Combined total value = 1,940,433,000,000

Strike  26500  has a total call value of 2,339,346,750,000  versus a total put value of  15,811,125,000 Combined total value = 2,355,157,875,000

Strike  26550  has a total call value of 2,824,245,375,000  versus a total put value of  13,139,625,000 Combined total value = 2,837,385,000,000

Strike  26600  has a total call value of 3,329,621,250,000  versus a total put value of  10,706,625,000 Combined total value = 3,340,327,875,000

Strike  26650  has a total call value of 3,873,271,125,000  versus a total put value of  8,856,000,000 Combined total value = 3,882,127,125,000

Strike  26700  has a total call value of 4,429,499,250,000  versus a total put value of  7,145,625,000 Combined total value = 4,436,644,875,000

Strike  26750  has a total call value of 5,016,741,375,000  versus a total put value of  5,809,500,000 Combined total value = 5,022,550,875,000

Strike  26800  has a total call value of 5,613,358,875,000  versus a total put value of  4,583,625,000 Combined total value = 5,617,942,500,000

Strike  26850  has a total call value of 6,237,655,125,000  versus a total put value of  3,623,625,000 Combined total value = 6,241,278,750,000

Strike  26900  has a total call value of 6,869,918,625,000  versus a total put value of  2,709,000,000 Combined total value = 6,872,627,625,000

Strike  26950  has a total call value of 7,520,061,750,000  versus a total put value of  1,875,375,000 Combined total value = 7,521,937,125,000

Strike  27000  has a total call value of 8,175,866,250,000  versus a total put value of  1,051,875,000 Combined total value = 8,176,918,125,000

Strike  27050  has a total call value of 8,889,054,000,000  versus a total put value of  881,625,000 Combined total value = 8,889,935,625,000

Strike  27100  has a total call value of 9,606,837,375,000  versus a total put value of  714,000,000 Combined total value = 9,607,551,375,000

Strike  27150  has a total call value of 10,344,957,375,000  versus a total put value of  565,125,000 Combined total value = 10,345,522,500,000

Strike  27200  has a total call value of 11,088,401,625,000  versus a total put value of  424,125,000 Combined total value = 11,088,825,750,000

Strike  27250  has a total call value of 11,859,295,875,000  versus a total put value of  328,500,000 Combined total value = 11,859,624,375,000

Strike  27300  has a total call value of 12,634,450,500,000  versus a total put value of  236,250,000 Combined total value = 12,634,686,750,000

Strike  27350  has a total call value of 13,429,116,375,000  versus a total put value of  147,750,000 Combined total value = 13,429,264,125,000

Strike  27400  has a total call value of 14,227,100,250,000  versus a total put value of  99,750,000 Combined total value = 14,227,200,000,000

Strike  27450  has a total call value of 15,039,611,250,000  versus a total put value of  51,750,000 Combined total value = 15,039,663,000,000

Strike  27500  has a total call value of 15,854,802,750,000  versus a total put value of  3,750,000 Combined total value = 15,854,806,500,000

Strike  27550  has a total call value of 16,706,001,375,000  versus a total put value of  1,875,000 Combined total value = 16,706,003,250,000

Strike  27600  has a total call value of 17,558,456,250,000  versus a total put value of  0 Combined total value = 17,558,456,250,000

Strike  27650  has a total call value of 18,420,014,625,000  versus a total put value of  0 Combined total value = 18,420,014,625,000

Strike  27700  has a total call value of 19,282,483,125,000  versus a total put value of  0 Combined total value = 19,282,483,125,000

Strike  27750  has a total call value of 20,152,555,875,000  versus a total put value of  0 Combined total value = 20,152,555,875,000

Strike  27800  has a total call value of 21,024,244,500,000  versus a total put value of  0 Combined total value = 21,024,244,500,000

Strike  27850  has a total call value of 21,905,311,125,000  versus a total put value of  0 Combined total value = 21,905,311,125,000

Strike  27900  has a total call value of 22,787,767,875,000  versus a total put value of  0 Combined total value = 22,787,767,875,000

Strike  27950  has a total call value of 23,677,669,875,000  versus a total put value of  0 Combined total value = 23,677,669,875,000

Max-Pain Table for Stocks
  Note:- click on symbol to see more detailed view
Max Pain Table (Stocks)
Symbol Symbol Ltp Max Pain
360ONE 1149.8 1140
ABB 5157 5150
ABCAPITAL 358.8 350
ADANIENSOL 973 980
ADANIENT 2259.1 2300
ADANIGREEN 1016.2 1020
ADANIPORTS 1511.4 1500
ALKEM 5681.5 5700
AMBER 6520 6600
AMBUJACEM 533.75 550
ANGELONE 2635.8 2650
APLAPOLLO 1771.9 1760
APOLLOHOSP 7187 7350
ASHOKLEY 160.26 157
ASIANPAINT 2964 2920
ASTRAL 1457.8 1460
AUBANK 956.5 940
AUROPHARMA 1215.5 1220
AXISBANK 1281 1280
BAJAJ-AUTO 9094 9100
BAJAJFINSV 2100.1 2080
BAJFINANCE 1054 1030
BANDHANBNK 140.9 150
BANKBARODA 292.3 290
BANKINDIA 142.5 145
BDL 1515.3 1520
BEL 407.75 410
BHARATFORG 1402 1400
BHARTIARTL 2098.3 2100
BHEL 277.7 285
BIOCON 391.75 395
BLUESTARCO 1727 1760
BOSCHLTD 36860 36500
BPCL 360.7 362.5
BRITANNIA 5940 5850
BSE 2812.3 2800
CAMS 771.9 780
CANBK 148.57 150
CDSL 1545.5 1580
CGPOWER 660.2 680
CHOLAFIN 1720.5 1700
CIPLA 1526.2 1530
COALINDIA 380.1 380
COFORGE 1980 1860
COLPAL 2157.1 2180
CONCOR 511.65 520
CROMPTON 260.4 270
CUMMINSIND 4456 4500
CYIENT 1172.5 1160
DABUR 508.8 515
DALBHARAT 1990.7 2000
DELHIVERY 405.1 420
DIVISLAB 6462 6450
DIXON 13852 14500
DLF 718.55 730
DMART 3947.8 4000
DRREDDY 1274.9 1270
EICHERMOT 7170 7100
ETERNAL 293.5 305
EXIDEIND 378.25 380
FEDERALBNK 258.95 255
FORTIS 889.9 910
GAIL 170.05 175
GLENMARK 1974.6 1940
GMRAIRPORT 103.03 102
GODREJCP 1133.2 1140
GODREJPROP 2080.7 2100
GRASIM 2744.2 2760
HAL 4460.1 4500
HAVELLS 1427.4 1440
HCLTECH 1683.8 1640
HDFCAMC 2575.7 2650
HDFCBANK 1001.8 1000
HDFCLIFE 770 770
HEROMOTOCO 6337.5 6200
HFCL 68.89 70
HINDALCO 825.85 800
HINDPETRO 450.7 455
HINDUNILVR 2327.9 2360
HINDZINC 497.9 490
HUDCO 222.56 230
ICICIBANK 1389.5 1380
ICICIGI 1976.5 2000
ICICIPRULI 623.6 620
IDEA 10.77 10
IDFCFIRSTB 80.94 80
IEX 145.47 145
IIFL 568.2 570
INDHOTEL 730.3 740
INDIANB 809.2 830
INDIGO 5397.5 5500
INDUSINDBK 870 860
INDUSTOWER 414.35 410
INFY 1613.8 1600
INOXWIND 129.4 137.5
IOC 163.21 164
IRCTC 674.15 690
IREDA 133.1 140
IRFC 114.13 117
ITC 404.65 405
JINDALSTEL 1008.5 1030
JIOFIN 302.95 305
JSWENERGY 453.85 480
JSWSTEEL 1158 1150
JUBLFOOD 593.35 600
KALYANKJIL 490.2 490
KAYNES 4575 5000
KEI 4155 4150
KFINTECH 1071 1080
KOTAKBANK 2154.7 2120
KPITTECH 1268 1240
LAURUSLABS 1025.6 1000
LICHSGFIN 542.05 555
LICI 868.1 900
LODHA 1106.1 1140
LT 4034.2 4020
LTF 307.3 302.5
LTIM 6292 6200
LUPIN 2100.5 2080
M&M 3711.9 3700
MANAPPURAM 277.5 280
MANKIND 2203.4 2250
MARICO 733.1 730
MARUTI 16209 16100
MAXHEALTH 1096.4 1120
MAZDOCK 2616.3 2700
MCX 10310 10100
MFSL 1686.5 1700
MOTHERSON 117.17 115
MPHASIS 2946.3 2900
MUTHOOTFIN 3786.9 3700
NATIONALUM 273.95 265
NAUKRI 1388.2 1380
NBCC 111.84 115
NCC 168.38 172.5
NESTLEIND 1241.8 1260
NHPC 76.97 78
NMDC 76.16 76
NTPC 323.2 325
NUVAMA 7150 7200
NYKAA 254.15 260
OBEROIRLTY 1652.9 1660
OFSS 8205.5 8200
OIL 410.4 415
ONGC 241.89 244
PAGEIND 37500 38000
PATANJALI 542.8 550
PAYTM 1348.6 1320
PERSISTENT 6510 6400
PETRONET 274.9 280
PFC 352.75 365
PGEL 562.15 580
PHOENIXLTD 1731.9 1740
PIDILITIND 1474.3 1480
PIIND 3410.9 3450
PNB 121.15 122
PNBHOUSING 901.45 900
POLICYBZR 1878.2 1860
POLYCAB 7225 7400
POWERGRID 270 275
POWERINDIA 19355 20500
PPLPHARMA 179.7 185
PRESTIGE 1688.4 1680
RBLBANK 305.95 310
RECLTD 352.75 360
RELIANCE 1536.5 1540
RVNL 310.95 315
SAIL 132.87 135
SAMMAANCAP 148.65 170
SBICARD 883.3 880
SBILIFE 2025 2020
SBIN 964.75 970
SHREECEM 26250 26500
SHRIRAMFIN 853.5 840
SIEMENS 3308 3300
SOLARINDS 12812 13500
SONACOMS 493.45 500
SRF 2875.8 2900
SUNPHARMA 1806.4 1800
SUPREMEIND 3363.3 3450
SUZLON 51.24 54
SYNGENE 639.8 640
TATACONSUM 1161 1170
TATAELXSI 5246.5 5300
TATAMOTORS 0 320
TATAPOWER 384.4 390
TATASTEEL 167.33 170
TATATECH 667.1 680
TCS 3230 3200
TECHM 1575.5 1520
TIINDIA 2668.4 2800
TITAGARH 793.55 820
TITAN 3818.8 3860
TMPV 354.5 360
TORNTPHARM 3794.6 3750
TORNTPOWER 1285.3 1300
TRENT 4183.4 4300
TVSMOTOR 3651.8 3600
ULTRACEMCO 11598 11700
UNIONBANK 152.68 155
UNITDSPR 1454 1440
UNOMINDA 1273.2 1300
UPL 756.6 760
VBL 478.55 470
VEDL 528.1 520
VOLTAS 1325 1360
WIPRO 259.5 255
YESBANK 22.56 23
ZYDUSLIFE 933.5 940

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:

  1. For each strike price: Calculate the difference between the current stock price and the strike price.
  2. Multiply by Open Interest: Multiply this difference by the open interest (number of contracts) at that strike for both call and put options.
  3. Sum the values: Add together the dollar value for put options and call options at each strike price.
  4. Repeat for all strikes: Perform this calculation for every available strike price in the option chain.
  5. 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.