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AXISBANK

Axis Bank Limited
1276.5 -2.10 (-0.16%)
L: 1271.4 H: 1282
Max Pain - AXISBANK
11 Dec 2025 02:24 PM IST
Live


Strike  1060  has a total call value of 0  versus a total put value of  154,896,250,000 Combined total value = 154,896,250,000

Strike  1070  has a total call value of 625,000  versus a total put value of  146,081,250,000 Combined total value = 146,081,875,000

Strike  1080  has a total call value of 1,250,000  versus a total put value of  137,266,250,000 Combined total value = 137,267,500,000

Strike  1090  has a total call value of 3,750,000  versus a total put value of  128,458,750,000 Combined total value = 128,462,500,000

Strike  1100  has a total call value of 6,250,000  versus a total put value of  119,651,250,000 Combined total value = 119,657,500,000

Strike  1110  has a total call value of 26,250,000  versus a total put value of  110,920,625,000 Combined total value = 110,946,875,000

Strike  1120  has a total call value of 46,250,000  versus a total put value of  102,190,000,000 Combined total value = 102,236,250,000

Strike  1130  has a total call value of 77,500,000  versus a total put value of  93,475,000,000 Combined total value = 93,552,500,000

Strike  1140  has a total call value of 111,250,000  versus a total put value of  84,811,875,000 Combined total value = 84,923,125,000

Strike  1150  has a total call value of 155,625,000  versus a total put value of  76,225,625,000 Combined total value = 76,381,250,000

Strike  1160  has a total call value of 223,125,000  versus a total put value of  67,884,375,000 Combined total value = 68,107,500,000

Strike  1170  has a total call value of 296,875,000  versus a total put value of  60,081,875,000 Combined total value = 60,378,750,000

Strike  1180  has a total call value of 373,125,000  versus a total put value of  52,786,250,000 Combined total value = 53,159,375,000

Strike  1190  has a total call value of 456,250,000  versus a total put value of  46,199,375,000 Combined total value = 46,655,625,000

Strike  1200  has a total call value of 550,000,000  versus a total put value of  39,725,625,000 Combined total value = 40,275,625,000

Strike  1210  has a total call value of 849,375,000  versus a total put value of  33,678,750,000 Combined total value = 34,528,125,000

Strike  1220  has a total call value of 1,152,500,000  versus a total put value of  27,990,000,000 Combined total value = 29,142,500,000

Strike  1230  has a total call value of 1,505,000,000  versus a total put value of  22,702,500,000 Combined total value = 24,207,500,000

Strike  1240  has a total call value of 1,971,250,000  versus a total put value of  17,750,000,000 Combined total value = 19,721,250,000

Strike  1250  has a total call value of 2,636,250,000  versus a total put value of  13,110,000,000 Combined total value = 15,746,250,000

Strike  1260  has a total call value of 3,453,125,000  versus a total put value of  8,945,625,000 Combined total value = 12,398,750,000

Strike  1270  has a total call value of 4,926,875,000  versus a total put value of  5,624,375,000 Combined total value = 10,551,250,000

Strike  1280  has a total call value of 7,283,750,000  versus a total put value of  3,261,875,000 Combined total value = 10,545,625,000

Strike  1290  has a total call value of 11,735,000,000  versus a total put value of  1,978,750,000 Combined total value = 13,713,750,000

Strike  1300  has a total call value of 19,860,625,000  versus a total put value of  1,145,625,000 Combined total value = 21,006,250,000

Strike  1310  has a total call value of 31,250,625,000  versus a total put value of  826,875,000 Combined total value = 32,077,500,000

Strike  1320  has a total call value of 43,150,000,000  versus a total put value of  540,000,000 Combined total value = 43,690,000,000

Strike  1330  has a total call value of 56,221,875,000  versus a total put value of  365,625,000 Combined total value = 56,587,500,000

Strike  1340  has a total call value of 69,895,625,000  versus a total put value of  247,500,000 Combined total value = 70,143,125,000

Strike  1350  has a total call value of 84,570,000,000  versus a total put value of  139,375,000 Combined total value = 84,709,375,000

Strike  1360  has a total call value of 99,993,750,000  versus a total put value of  93,750,000 Combined total value = 100,087,500,000

Strike  1370  has a total call value of 115,719,375,000  versus a total put value of  52,500,000 Combined total value = 115,771,875,000

Strike  1380  has a total call value of 131,618,750,000  versus a total put value of  11,250,000 Combined total value = 131,630,000,000

Strike  1390  has a total call value of 147,782,500,000  versus a total put value of  7,500,000 Combined total value = 147,790,000,000

Strike  1400  has a total call value of 164,008,750,000  versus a total put value of  3,750,000 Combined total value = 164,012,500,000

Strike  1410  has a total call value of 181,500,000,000  versus a total put value of  1,875,000 Combined total value = 181,501,875,000

Strike  1420  has a total call value of 198,991,250,000  versus a total put value of  0 Combined total value = 198,991,250,000

Strike  1430  has a total call value of 217,126,250,000  versus a total put value of  0 Combined total value = 217,126,250,000

Strike  1440  has a total call value of 235,261,250,000  versus a total put value of  0 Combined total value = 235,261,250,000

Strike  1450  has a total call value of 253,765,000,000  versus a total put value of  0 Combined total value = 253,765,000,000

Strike  1460  has a total call value of 272,268,750,000  versus a total put value of  0 Combined total value = 272,268,750,000

Max-Pain Table for Stocks
  Note:- click on symbol to see more detailed view
Max Pain Table (Stocks)
Symbol Symbol Ltp Max Pain
360ONE 1134.2 1140
ABB 5233.5 5200
ABCAPITAL 356.8 350
ADANIENSOL 1001 980
ADANIENT 2285 2300
ADANIGREEN 1014 1020
ADANIPORTS 1510.7 1500
ALKEM 5615.5 5700
AMBER 6549 6700
AMBUJACEM 534.3 550
ANGELONE 2572.7 2600
APLAPOLLO 1724.5 1740
APOLLOHOSP 7017.5 7200
ASHOKLEY 160.17 157
ASIANPAINT 2784.6 2840
ASTRAL 1405 1440
AUBANK 973.6 950
AUROPHARMA 1171.1 1200
AXISBANK 1276.5 1280
BAJAJ-AUTO 9064 9100
BAJAJFINSV 2068 2080
BAJFINANCE 1004.8 1020
BANDHANBNK 143.84 150
BANKBARODA 285.4 290
BANKINDIA 141.1 144
BDL 1413.6 1460
BEL 387.4 400
BHARATFORG 1404.3 1400
BHARTIARTL 2054.9 2100
BHEL 277.3 280
BIOCON 380.55 390
BLUESTARCO 1753.8 1760
BOSCHLTD 36855 37000
BPCL 351 360
BRITANNIA 5845.5 5850
BSE 2688.8 2750
CAMS 753.3 780
CANBK 146.92 148
CDSL 1519.7 1580
CGPOWER 667 680
CHOLAFIN 1722 1700
CIPLA 1510.3 1520
COALINDIA 385 384.75
COFORGE 1838.5 1840
COLPAL 2154.9 2200
CONCOR 505.3 520
CROMPTON 252.25 265
CUMMINSIND 4538 4500
CYIENT 1151.6 1160
DABUR 502.4 510
DALBHARAT 1983.9 2000
DELHIVERY 410.3 420
DIVISLAB 6412.5 6400
DIXON 12852 13500
DLF 692.25 720
DMART 3818.3 3950
DRREDDY 1270.6 1270
EICHERMOT 7269 7200
ETERNAL 290.7 300
EXIDEIND 373.4 380
FEDERALBNK 261.9 257.5
FORTIS 852.7 900
GAIL 169.39 175
GLENMARK 1953.8 1940
GMRAIRPORT 98.38 101
GODREJCP 1143.1 1140
GODREJPROP 2035 2080
GRASIM 2800.1 2760
HAL 4324 4500
HAVELLS 1395.4 1440
HCLTECH 1669.1 1660
HDFCAMC 2653.7 2650
HDFCBANK 1000.8 1000
HDFCLIFE 772 770
HEROMOTOCO 5987.5 6100
HFCL 67.14 70
HINDALCO 825.15 810
HINDPETRO 448.2 455
HINDUNILVR 2302.2 2320
HINDZINC 522.15 505
HUDCO 212.75 225
ICICIBANK 1362.3 1380
ICICIGI 1937.9 1980
ICICIPRULI 636 630
IDEA 11.17 10
IDFCFIRSTB 80.51 80
IEX 142.11 145
IIFL 570.95 560
INDHOTEL 724.75 740
INDIANB 780.95 820
INDIGO 4790 5000
INDUSINDBK 837.25 850
INDUSTOWER 410.7 410
INFY 1592 1600
INOXWIND 121.99 130
IOC 161.52 164
IRCTC 669.7 690
IREDA 134.5 140
IRFC 113.28 117
ITC 403.05 405
JINDALSTEL 1013.6 1020
JIOFIN 297.55 305
JSWENERGY 458.7 480
JSWSTEEL 1104.1 1140
JUBLFOOD 596.65 600
KALYANKJIL 470.45 480
KAYNES 4036.5 4400
KEI 4057 4050
KFINTECH 1073.8 1080
KOTAKBANK 2185.6 2160
KPITTECH 1230.3 1220
LAURUSLABS 1021.5 1000
LICHSGFIN 533.55 550
LICI 863.15 890
LODHA 1081.4 1120
LT 4012.7 4000
LTF 301.7 302.5
LTIM 6278 6150
LUPIN 2084 2060
M&M 3664.4 3700
MANAPPURAM 282.45 280
MANKIND 2160.8 2200
MARICO 724.7 730
MARUTI 16241 16200
MAXHEALTH 1082 1120
MAZDOCK 2476 2600
MCX 9937 10000
MFSL 1707.9 1700
MOTHERSON 119.78 115
MPHASIS 2897.9 2900
MUTHOOTFIN 3739 3700
NATIONALUM 263 265
NAUKRI 1343.6 1360
NBCC 108.4 112
NCC 161.6 170
NESTLEIND 1215.9 1240
NHPC 76.67 78
NMDC 75.48 76
NTPC 322.8 325
NUVAMA 7227.5 7200
NYKAA 249 257.5
OBEROIRLTY 1640.8 1660
OFSS 8003.5 8100
OIL 404.95 415
ONGC 238.89 241.5
PAGEIND 37120 38000
PATANJALI 531.4 550
PAYTM 1278.9 1300
PERSISTENT 6142.5 6200
PETRONET 271.15 280
PFC 341.6 360
PGEL 550 560
PHOENIXLTD 1745.9 1740
PIDILITIND 1466.6 1480
PIIND 3375.8 3450
PNB 117.62 120
PNBHOUSING 901.95 900
POLICYBZR 1936.2 1900
POLYCAB 7213 7300
POWERGRID 265.3 275
POWERINDIA 19105 19500
PPLPHARMA 171.68 182.5
PRESTIGE 1643.3 1660
RBLBANK 311.4 310
RECLTD 343.1 360
RELIANCE 1545.6 1540
RVNL 312.7 315
SAIL 129.35 134
SAMMAANCAP 144.62 160
SBICARD 873.35 880
SBILIFE 2016 2020
SBIN 965.4 970
SHREECEM 26175 26500
SHRIRAMFIN 846.45 840
SIEMENS 3177.7 3250
SOLARINDS 12469 13000
SONACOMS 484.75 500
SRF 2942.1 2900
SUNPHARMA 1801.8 1800
SUPREMEIND 3231.7 3400
SUZLON 51.93 54
SYNGENE 641 640
TATACONSUM 1148 1170
TATAELXSI 4993.5 5100
TATAMOTORS 0 320
TATAPOWER 381.3 390
TATASTEEL 166.04 170
TATATECH 651.6 680
TCS 3187.3 3200
TECHM 1562 1540
TIINDIA 2648.7 2750
TITAGARH 769.85 800
TITAN 3850 3840
TMPV 347.9 360
TORNTPHARM 3786.3 3750
TORNTPOWER 1284.9 1300
TRENT 4033 4200
TVSMOTOR 3621.8 3600
ULTRACEMCO 11445 11600
UNIONBANK 150.79 152.5
UNITDSPR 1438.7 1440
UNOMINDA 1235 1280
UPL 747.05 750
VBL 474.9 470
VEDL 529.55 520
VOLTAS 1348.6 1360
WIPRO 258.75 255
YESBANK 21.98 23
ZYDUSLIFE 924.3 940

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.