ADANIENT
Adani Enterprises LimitedMax Pain - ADANIENT
Strike 1840 has a total call value of 0 versus a total put value of 322,964,354,265 Combined total value = 322,964,354,265
Strike 1860 has a total call value of 0 versus a total put value of 307,857,962,265 Combined total value = 307,857,962,265
Strike 1880 has a total call value of 0 versus a total put value of 292,751,570,265 Combined total value = 292,751,570,265
Strike 1900 has a total call value of 0 versus a total put value of 277,666,808,265 Combined total value = 277,666,808,265
Strike 1900.2 has a total call value of 0 versus a total put value of 277,515,960,645 Combined total value = 277,515,960,645
Strike 1920 has a total call value of 17,742,780 versus a total put value of 262,777,216,845 Combined total value = 262,794,959,625
Strike 1938.95 has a total call value of 34,723,875 versus a total put value of 248,687,006,880 Combined total value = 248,721,730,755
Strike 1940 has a total call value of 35,664,780 versus a total put value of 247,914,004,755 Combined total value = 247,949,669,535
Strike 1960 has a total call value of 53,586,780 versus a total put value of 233,206,840,755 Combined total value = 233,260,427,535
Strike 1977.75 has a total call value of 69,492,555 versus a total put value of 220,210,725,630 Combined total value = 220,280,218,185
Strike 1980 has a total call value of 71,508,780 versus a total put value of 218,577,374,805 Combined total value = 218,648,883,585
Strike 2000 has a total call value of 89,430,780 versus a total put value of 204,058,700,805 Combined total value = 204,148,131,585
Strike 2016.55 has a total call value of 111,932,160 versus a total put value of 192,605,498,385 Combined total value = 192,717,430,545
Strike 2020 has a total call value of 116,622,780 versus a total put value of 190,237,161,705 Combined total value = 190,353,784,485
Strike 2035.9 has a total call value of 138,240,420 versus a total put value of 179,392,967,385 Combined total value = 179,531,207,805
Strike 2040 has a total call value of 143,814,780 versus a total put value of 176,611,361,745 Combined total value = 176,755,176,525
Strike 2055.3 has a total call value of 164,616,660 versus a total put value of 166,299,302,505 Combined total value = 166,463,919,165
Strike 2060 has a total call value of 171,006,780 versus a total put value of 163,166,691,405 Combined total value = 163,337,698,185
Strike 2074.7 has a total call value of 190,992,900 versus a total put value of 153,425,729,055 Combined total value = 153,616,721,955
Strike 2080 has a total call value of 198,198,780 versus a total put value of 149,930,549,715 Combined total value = 150,128,748,495
Strike 2094.1 has a total call value of 219,111,900 versus a total put value of 140,727,469,845 Combined total value = 140,946,581,745
Strike 2100 has a total call value of 227,862,780 versus a total put value of 136,896,954,435 Combined total value = 137,124,817,215
Strike 2113.5 has a total call value of 310,041,330 versus a total put value of 128,663,664,885 Combined total value = 128,973,706,215
Strike 2120 has a total call value of 349,809,630 versus a total put value of 124,725,197,235 Combined total value = 125,075,006,865
Strike 2132.85 has a total call value of 429,222,630 versus a total put value of 117,277,846,095 Combined total value = 117,707,068,725
Strike 2140 has a total call value of 482,026,095 versus a total put value of 113,276,271,375 Combined total value = 113,758,297,470
Strike 2152.25 has a total call value of 586,120,470 versus a total put value of 106,519,600,125 Combined total value = 107,105,720,595
Strike 2160 has a total call value of 651,976,095 versus a total put value of 102,298,134,825 Combined total value = 102,950,110,920
Strike 2171.65 has a total call value of 777,250,875 versus a total put value of 96,030,435,990 Combined total value = 96,807,686,865
Strike 2180 has a total call value of 867,040,095 versus a total put value of 91,548,715,440 Combined total value = 92,415,755,535
Strike 2191.05 has a total call value of 1,030,592,250 versus a total put value of 85,792,294,185 Combined total value = 86,822,886,435
Strike 2200 has a total call value of 1,163,062,095 versus a total put value of 81,171,336,690 Combined total value = 82,334,398,785
Strike 2210.45 has a total call value of 1,718,135,790 versus a total put value of 76,268,024,265 Combined total value = 77,986,160,055
Strike 2220 has a total call value of 2,225,404,095 versus a total put value of 71,860,780,440 Combined total value = 74,086,184,535
Strike 2229.8 has a total call value of 2,826,198,975 versus a total put value of 67,515,313,440 Combined total value = 70,341,512,415
Strike 2240 has a total call value of 3,513,921,735 versus a total put value of 63,153,222,240 Combined total value = 66,667,143,975
Strike 2249.2 has a total call value of 4,420,774,935 versus a total put value of 59,509,321,200 Combined total value = 63,930,096,135
Strike 2260 has a total call value of 5,548,748,535 versus a total put value of 55,231,698,240 Combined total value = 60,780,446,775
Strike 2268.6 has a total call value of 8,249,464,155 versus a total put value of 52,158,415,140 Combined total value = 60,407,879,295
Strike 2280 has a total call value of 11,933,399,235 versus a total put value of 48,084,528,240 Combined total value = 60,017,927,475
Strike 2288 has a total call value of 14,782,626,435 versus a total put value of 45,361,373,040 Combined total value = 60,143,999,475
Strike 2300 has a total call value of 19,151,021,235 versus a total put value of 41,276,640,240 Combined total value = 60,427,661,475
Strike 2307.35 has a total call value of 23,350,150,470 versus a total put value of 39,331,627,380 Combined total value = 62,681,777,850
Strike 2320 has a total call value of 30,724,586,880 versus a total put value of 36,052,884,000 Combined total value = 66,777,470,880
Strike 2326.75 has a total call value of 34,918,195,830 versus a total put value of 34,384,284,000 Combined total value = 69,302,479,830
Strike 2340 has a total call value of 43,395,340,455 versus a total put value of 31,379,104,500 Combined total value = 74,774,444,955
Strike 2346.15 has a total call value of 47,547,035,100 versus a total put value of 30,077,744,820 Combined total value = 77,624,779,920
Strike 2360 has a total call value of 57,122,324,010 versus a total put value of 27,264,302,910 Combined total value = 84,386,626,920
Strike 2365.55 has a total call value of 61,207,677,900 versus a total put value of 26,226,072,180 Combined total value = 87,433,750,080
Strike 2380 has a total call value of 72,069,358,530 versus a total put value of 23,736,360,300 Combined total value = 95,805,718,830
Strike 2384.95 has a total call value of 75,922,906,800 versus a total put value of 22,913,768,310 Combined total value = 98,836,675,110
Strike 2400 has a total call value of 87,719,703,315 versus a total put value of 20,424,382,425 Combined total value = 108,144,085,740
Strike 2404.3 has a total call value of 91,980,312,735 versus a total put value of 19,876,027,935 Combined total value = 111,856,340,670
Strike 2420 has a total call value of 107,649,041,475 versus a total put value of 17,939,388,975 Combined total value = 125,588,430,450
Strike 2423.7 has a total call value of 111,391,291,035 versus a total put value of 17,490,758,055 Combined total value = 128,882,049,090
Strike 2440 has a total call value of 128,224,949,775 versus a total put value of 15,886,065,435 Combined total value = 144,111,015,210
Strike 2443.1 has a total call value of 131,515,240,485 versus a total put value of 15,594,097,515 Combined total value = 147,109,338,000
Strike 2460 has a total call value of 149,506,941,615 versus a total put value of 14,002,401,435 Combined total value = 163,509,343,050
Strike 2462.5 has a total call value of 152,222,665,365 versus a total put value of 13,783,243,185 Combined total value = 166,005,908,550
Strike 2480 has a total call value of 171,332,229,615 versus a total put value of 12,299,965,935 Combined total value = 183,632,195,550
Strike 2481.9 has a total call value of 173,415,906,225 versus a total put value of 12,140,098,605 Combined total value = 185,556,004,830
Strike 2500 has a total call value of 193,376,407,035 versus a total put value of 10,692,656,085 Combined total value = 204,069,063,120
Strike 2501.25 has a total call value of 194,868,259,035 versus a total put value of 10,623,633,210 Combined total value = 205,491,892,245
Strike 2520 has a total call value of 217,374,660,285 versus a total put value of 9,601,615,710 Combined total value = 226,976,275,995
Strike 2520.65 has a total call value of 218,157,232,140 versus a total put value of 9,567,230,190 Combined total value = 227,724,462,330
Strike 2540 has a total call value of 241,763,514,255 versus a total put value of 8,666,770,200 Combined total value = 250,430,284,455
Strike 2540.05 has a total call value of 241,824,671,535 versus a total put value of 8,664,443,430 Combined total value = 250,489,114,965
Strike 2559.45 has a total call value of 265,674,187,635 versus a total put value of 7,762,256,130 Combined total value = 273,436,443,765
Strike 2560 has a total call value of 266,350,333,710 versus a total put value of 7,736,780,625 Combined total value = 274,087,114,335
Strike 2578.85 has a total call value of 289,693,783,515 versus a total put value of 6,864,248,055 Combined total value = 296,558,031,570
Strike 2580 has a total call value of 291,117,919,710 versus a total put value of 6,811,300,905 Combined total value = 297,929,220,615
Strike 2598.2 has a total call value of 313,656,422,970 versus a total put value of 5,973,354,705 Combined total value = 319,629,777,675
Strike 2600 has a total call value of 315,890,455,890 versus a total put value of 5,891,092,725 Combined total value = 321,781,548,615
Strike 2617.6 has a total call value of 338,118,828,210 versus a total put value of 5,200,415,925 Combined total value = 343,319,244,135
Strike 2620 has a total call value of 341,175,925,890 versus a total put value of 5,116,170,165 Combined total value = 346,292,096,055
Strike 2637 has a total call value of 362,830,367,790 versus a total put value of 4,521,530,565 Combined total value = 367,351,898,355
Strike 2640 has a total call value of 366,651,739,890 versus a total put value of 4,416,594,165 Combined total value = 371,068,334,055
Strike 2656.4 has a total call value of 387,600,691,530 versus a total put value of 3,843,955,365 Combined total value = 391,444,646,895
Strike 2660 has a total call value of 392,199,241,890 versus a total put value of 3,718,254,165 Combined total value = 395,917,496,055
Strike 2675.8 has a total call value of 412,381,768,470 versus a total put value of 3,167,053,785 Combined total value = 415,548,822,255
Strike 2680 has a total call value of 417,746,743,890 versus a total put value of 3,020,532,165 Combined total value = 420,767,276,055
Strike 2695.15 has a total call value of 437,142,981,345 versus a total put value of 2,492,007,750 Combined total value = 439,634,989,095
Strike 2700 has a total call value of 443,352,337,890 versus a total put value of 2,322,810,165 Combined total value = 445,675,148,055
Strike 2714.55 has a total call value of 462,162,943,095 versus a total put value of 1,830,503,640 Combined total value = 463,993,446,735
Strike 2720 has a total call value of 469,264,581,945 versus a total put value of 1,747,648,380 Combined total value = 471,012,230,325
Strike 2733.95 has a total call value of 487,442,171,295 versus a total put value of 1,538,586,705 Combined total value = 488,980,758,000
Strike 2740 has a total call value of 495,325,641,945 versus a total put value of 1,448,479,215 Combined total value = 496,774,121,160
Strike 2753.35 has a total call value of 512,721,399,495 versus a total put value of 1,249,646,985 Combined total value = 513,971,046,480
Strike 2760 has a total call value of 521,386,701,945 versus a total put value of 1,151,219,670 Combined total value = 522,537,921,615
Strike 2780 has a total call value of 547,447,761,945 versus a total put value of 855,815,670 Combined total value = 548,303,577,615
Strike 2792.1 has a total call value of 563,214,703,245 versus a total put value of 677,096,250 Combined total value = 563,891,799,495
Strike 2800 has a total call value of 573,573,755,205 versus a total put value of 561,144,000 Combined total value = 574,134,899,205
Strike 2820 has a total call value of 599,886,341,205 versus a total put value of 280,572,000 Combined total value = 600,166,913,205
Strike 2840 has a total call value of 626,198,927,205 versus a total put value of 0 Combined total value = 626,198,927,205
Max-Pain Table for Stocks
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.































































































































































































































