[--[65.84.65.76]--]

AMBER

Amber Enterprises (I) Ltd
6640 +54.50 (0.83%)
L: 6565 H: 6697
Max Pain - AMBER
19 Dec 2025 01:13 PM IST
Live


Strike  5200  has a total call value of 0  versus a total put value of  91,108,000,000 Combined total value = 91,108,000,000

Strike  5300  has a total call value of 3,000,000  versus a total put value of  84,073,000,000 Combined total value = 84,076,000,000

Strike  5400  has a total call value of 6,000,000  versus a total put value of  77,038,000,000 Combined total value = 77,044,000,000

Strike  5500  has a total call value of 9,000,000  versus a total put value of  70,139,000,000 Combined total value = 70,148,000,000

Strike  5600  has a total call value of 12,000,000  versus a total put value of  63,314,000,000 Combined total value = 63,326,000,000

Strike  5700  has a total call value of 15,000,000  versus a total put value of  56,644,000,000 Combined total value = 56,659,000,000

Strike  5800  has a total call value of 18,000,000  versus a total put value of  50,013,000,000 Combined total value = 50,031,000,000

Strike  5900  has a total call value of 23,000,000  versus a total put value of  43,668,000,000 Combined total value = 43,691,000,000

Strike  6000  has a total call value of 28,000,000  versus a total put value of  37,568,000,000 Combined total value = 37,596,000,000

Strike  6100  has a total call value of 62,000,000  versus a total put value of  32,301,000,000 Combined total value = 32,363,000,000

Strike  6200  has a total call value of 107,000,000  versus a total put value of  27,388,000,000 Combined total value = 27,495,000,000

Strike  6300  has a total call value of 170,000,000  versus a total put value of  22,949,000,000 Combined total value = 23,119,000,000

Strike  6400  has a total call value of 502,000,000  versus a total put value of  18,894,000,000 Combined total value = 19,396,000,000

Strike  6500  has a total call value of 915,000,000  versus a total put value of  15,373,000,000 Combined total value = 16,288,000,000

Strike  6600  has a total call value of 1,721,000,000  versus a total put value of  12,580,000,000 Combined total value = 14,301,000,000

Strike  6700  has a total call value of 3,101,000,000  versus a total put value of  10,104,000,000 Combined total value = 13,205,000,000

Strike  6800  has a total call value of 5,280,000,000  versus a total put value of  7,928,000,000 Combined total value = 13,208,000,000

Strike  6900  has a total call value of 8,647,000,000  versus a total put value of  6,356,000,000 Combined total value = 15,003,000,000

Strike  7000  has a total call value of 12,628,000,000  versus a total put value of  4,935,000,000 Combined total value = 17,563,000,000

Strike  7100  has a total call value of 18,185,000,000  versus a total put value of  4,132,000,000 Combined total value = 22,317,000,000

Strike  7200  has a total call value of 24,787,000,000  versus a total put value of  3,426,000,000 Combined total value = 28,213,000,000

Strike  7300  has a total call value of 32,940,000,000  versus a total put value of  2,860,000,000 Combined total value = 35,800,000,000

Strike  7400  has a total call value of 41,763,000,000  versus a total put value of  2,366,000,000 Combined total value = 44,129,000,000

Strike  7500  has a total call value of 51,044,000,000  versus a total put value of  1,981,000,000 Combined total value = 53,025,000,000

Strike  7600  has a total call value of 61,036,000,000  versus a total put value of  1,660,000,000 Combined total value = 62,696,000,000

Strike  7700  has a total call value of 71,523,000,000  versus a total put value of  1,410,000,000 Combined total value = 72,933,000,000

Strike  7800  has a total call value of 82,010,000,000  versus a total put value of  1,170,000,000 Combined total value = 83,180,000,000

Strike  7900  has a total call value of 93,149,000,000  versus a total put value of  967,000,000 Combined total value = 94,116,000,000

Strike  8000  has a total call value of 104,288,000,000  versus a total put value of  768,000,000 Combined total value = 105,056,000,000

Strike  8100  has a total call value of 115,427,000,000  versus a total put value of  637,000,000 Combined total value = 116,064,000,000

Strike  8200  has a total call value of 126,574,000,000  versus a total put value of  508,000,000 Combined total value = 127,082,000,000

Strike  8300  has a total call value of 137,721,000,000  versus a total put value of  394,000,000 Combined total value = 138,115,000,000

Strike  8400  has a total call value of 148,868,000,000  versus a total put value of  280,000,000 Combined total value = 149,148,000,000

Strike  8500  has a total call value of 160,015,000,000  versus a total put value of  196,000,000 Combined total value = 160,211,000,000

Strike  8600  has a total call value of 171,162,000,000  versus a total put value of  112,000,000 Combined total value = 171,274,000,000

Strike  8700  has a total call value of 182,309,000,000  versus a total put value of  84,000,000 Combined total value = 182,393,000,000

Strike  8800  has a total call value of 193,456,000,000  versus a total put value of  56,000,000 Combined total value = 193,512,000,000

Strike  8900  has a total call value of 204,603,000,000  versus a total put value of  28,000,000 Combined total value = 204,631,000,000

Strike  9000  has a total call value of 215,750,000,000  versus a total put value of  0 Combined total value = 215,750,000,000

Max-Pain Table for Stocks
  Note:- click on symbol to see more detailed view
Max Pain Table (Stocks)
Symbol Symbol Ltp Max Pain
360ONE 1131.3 1140
ABB 5132.5 5200
ABCAPITAL 345 345
ADANIENSOL 976.9 980
ADANIENT 2215 2300
ADANIGREEN 1009.7 1020
ADANIPORTS 1493.7 1500
ALKEM 5539.5 5650
AMBER 6640 6700
AMBUJACEM 535.8 550
ANGELONE 2468.9 2550
APLAPOLLO 1806.9 1760
APOLLOHOSP 6984.5 7100
ASHOKLEY 173.48 164
ASIANPAINT 2789.5 2800
ASTRAL 1415.2 1440
AUBANK 980 960
AUROPHARMA 1217 1220
AXISBANK 1233 1240
BAJAJ-AUTO 8965 9000
BAJAJFINSV 2036 2060
BAJFINANCE 1003.2 1020
BANDHANBNK 149.48 150
BANKBARODA 289.8 290
BANKINDIA 142.4 143
BDL 1352.5 1400
BEL 390.25 400
BHARATFORG 1420 1400
BHARTIARTL 2083.2 2100
BHEL 274.1 280
BIOCON 396.3 395
BLUESTARCO 1766.6 1780
BOSCHLTD 35775 36000
BPCL 363.65 365
BRITANNIA 6096.5 6000
BSE 2705 2700
CAMS 749 770
CANBK 147.52 150
CDSL 1489.7 1540
CGPOWER 665 680
CHOLAFIN 1619.3 1700
CIPLA 1507.5 1520
COALINDIA 384.2 385
COFORGE 1843.8 1840
COLPAL 2089.5 2160
CONCOR 497.35 520
CROMPTON 251.65 260
CUMMINSIND 4350.5 4400
CYIENT 1144.8 1140
DABUR 492.45 500
DALBHARAT 2016.9 2020
DELHIVERY 403.25 410
DIVISLAB 6470 6500
DIXON 13127 13500
DLF 683.45 710
DMART 3783.8 3900
DRREDDY 1272.2 1270
EICHERMOT 7210 7100
ETERNAL 287.1 295
EXIDEIND 360.35 370
FEDERALBNK 266.45 260
FORTIS 882.65 890
GAIL 168.43 175
GLENMARK 1961.2 1940
GMRAIRPORT 100.85 102
GODREJCP 1178.3 1160
GODREJPROP 2014.7 2060
GRASIM 2811.4 2800
HAL 4291.1 4450
HAVELLS 1404.8 1440
HCLTECH 1637.8 1660
HDFCAMC 2647.5 2675
HDFCBANK 983.8 990
HDFCLIFE 767.3 770
HEROMOTOCO 5759 5900
HFCL 64.01 67
HINDALCO 848.9 820
HINDPETRO 466.6 460
HINDUNILVR 2280.3 2300
HINDZINC 586.7 560
HUDCO 208.52 217.5
ICICIBANK 1351.8 1370
ICICIGI 1945.7 1960
ICICIPRULI 650.45 630
IDEA 11.62 11
IDFCFIRSTB 84.5 82
IEX 140.35 145
IIFL 559 560
INDHOTEL 725.95 730
INDIANB 777.7 810
INDIGO 5149.5 5100
INDUSINDBK 839 850
INDUSTOWER 410.5 410
INFY 1631 1600
INOXWIND 124.85 130
IOC 161.15 161
IRCTC 668.4 690
IREDA 131.57 137.5
IRFC 111.37 115
ITC 402 405
JINDALSTEL 986.5 1020
JIOFIN 296.4 305
JSWENERGY 473.1 490
JSWSTEEL 1078 1120
JUBLFOOD 563.6 580
KALYANKJIL 474.9 480
KAYNES 4113.5 4300
KEI 4180.6 4100
KFINTECH 1080.3 1080
KOTAKBANK 2160.9 2160
KPITTECH 1191 1200
LAURUSLABS 1036.7 1010
LICHSGFIN 527.5 550
LICI 848.15 870
LODHA 1076.1 1100
LT 4079.9 4040
LTF 297.75 300
LTIM 6166 6100
LUPIN 2119 2100
M&M 3599.1 3650
MANAPPURAM 287.45 280
MANKIND 2150.5 2200
MARICO 740.65 730
MARUTI 16433 16300
MAXHEALTH 1073.5 1080
MAZDOCK 2382.8 2500
MCX 10309 10100
MFSL 1675.6 1680
MOTHERSON 120.32 116
MPHASIS 2876.2 2900
MUTHOOTFIN 3750.3 3750
NATIONALUM 277.05 272.5
NAUKRI 1326.2 1360
NBCC 112.06 111
NCC 153.94 162.5
NESTLEIND 1240.4 1240
NHPC 75.46 78
NMDC 75.8 77
NTPC 318.1 325
NUVAMA 7062.5 7200
NYKAA 245.4 250
OBEROIRLTY 1654.9 1660
OFSS 7696 7900
OIL 404.5 410
ONGC 232.32 237.5
PAGEIND 35750 36500
PATANJALI 558.55 550
PAYTM 1309.7 1300
PERSISTENT 6315.5 6300
PETRONET 272.35 278
PFC 336.45 355
PGEL 572 560
PHOENIXLTD 1816.5 1760
PIDILITIND 1449.9 1480
PIIND 3221.6 3350
PNB 119.03 120
PNBHOUSING 904.6 900
POLICYBZR 1878.6 1840
POLYCAB 7327 7300
POWERGRID 261.55 270
POWERINDIA 18155 18500
PPLPHARMA 169.21 175
PRESTIGE 1605.6 1640
RBLBANK 297.75 305
RECLTD 338.35 350
RELIANCE 1565.1 1550
RVNL 310.55 310
SAIL 124.14 130
SAMMAANCAP 144.38 155
SBICARD 857.65 870
SBILIFE 2027.6 2020
SBIN 979.85 970
SHREECEM 25430 26000
SHRIRAMFIN 906.3 880
SIEMENS 3082.1 3150
SOLARINDS 11758 12500
SONACOMS 496.1 500
SRF 3070.8 3000
SUNPHARMA 1747.8 1760
SUPREMEIND 3361.2 3400
SUZLON 51.84 54
SYNGENE 648.5 650
TATACONSUM 1181.2 1180
TATAELXSI 5348.5 5300
TATAMOTORS 0 320
TATAPOWER 377.1 390
TATASTEEL 168.41 170
TATATECH 646.3 670
TCS 3290.2 3240
TECHM 1609.1 1560
TIINDIA 2607.2 2700
TITAGARH 771.55 800
TITAN 3943.2 3880
TMPV 350.65 360
TORNTPHARM 3752.9 3750
TORNTPOWER 1262.6 1300
TRENT 4065 4200
TVSMOTOR 3655.7 3600
ULTRACEMCO 11486 11600
UNIONBANK 153.35 155
UNITDSPR 1402.3 1430
UNOMINDA 1249.4 1280
UPL 743.5 750
VBL 470 470
VEDL 575.55 555
VOLTAS 1367.3 1380
WIPRO 264.2 260
YESBANK 21.53 22
ZYDUSLIFE 913.1 930

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.