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BANKBARODA

Bank Of Baroda
285.05 +2.20 (0.78%)
L: 282.1 H: 285.95
Max Pain - BANKBARODA
17 Dec 2025 10:07 AM IST
Live


Strike  240  has a total call value of 0  versus a total put value of  149,546,475,000 Combined total value = 149,546,475,000

Strike  242.5  has a total call value of 77,512,500  versus a total put value of  140,775,131,250 Combined total value = 140,852,643,750

Strike  245  has a total call value of 155,025,000  versus a total put value of  132,003,787,500 Combined total value = 132,158,812,500

Strike  247.5  has a total call value of 233,268,750  versus a total put value of  123,297,525,000 Combined total value = 123,530,793,750

Strike  250  has a total call value of 311,512,500  versus a total put value of  114,591,262,500 Combined total value = 114,902,775,000

Strike  252.5  has a total call value of 463,612,500  versus a total put value of  106,141,668,750 Combined total value = 106,605,281,250

Strike  255  has a total call value of 615,712,500  versus a total put value of  97,714,012,500 Combined total value = 98,329,725,000

Strike  257.5  has a total call value of 772,931,250  versus a total put value of  89,418,712,500 Combined total value = 90,191,643,750

Strike  260  has a total call value of 930,150,000  versus a total put value of  81,164,362,500 Combined total value = 82,094,512,500

Strike  262.5  has a total call value of 1,356,468,750  versus a total put value of  73,510,368,750 Combined total value = 74,866,837,500

Strike  265  has a total call value of 1,782,787,500  versus a total put value of  65,908,293,750 Combined total value = 67,691,081,250

Strike  267.5  has a total call value of 2,245,668,750  versus a total put value of  58,672,575,000 Combined total value = 60,918,243,750

Strike  270  has a total call value of 2,710,743,750  versus a total put value of  51,597,000,000 Combined total value = 54,307,743,750

Strike  272.5  has a total call value of 3,447,843,750  versus a total put value of  45,069,862,500 Combined total value = 48,517,706,250

Strike  275  has a total call value of 4,188,600,000  versus a total put value of  38,672,156,250 Combined total value = 42,860,756,250

Strike  277.5  has a total call value of 5,030,268,750  versus a total put value of  32,962,556,250 Combined total value = 37,992,825,000

Strike  280  has a total call value of 5,892,412,500  versus a total put value of  27,356,062,500 Combined total value = 33,248,475,000

Strike  282.5  has a total call value of 7,166,981,250  versus a total put value of  22,807,687,500 Combined total value = 29,974,668,750

Strike  285  has a total call value of 8,679,206,250  versus a total put value of  18,549,618,750 Combined total value = 27,228,825,000

Strike  287.5  has a total call value of 11,072,587,500  versus a total put value of  15,245,831,250 Combined total value = 26,318,418,750

Strike  290  has a total call value of 13,950,787,500  versus a total put value of  12,154,106,250 Combined total value = 26,104,893,750

Strike  292.5  has a total call value of 18,314,887,500  versus a total put value of  9,947,193,750 Combined total value = 28,262,081,250

Strike  295  has a total call value of 23,064,356,250  versus a total put value of  7,905,543,750 Combined total value = 30,969,900,000

Strike  297.5  has a total call value of 28,848,543,750  versus a total put value of  6,040,125,000 Combined total value = 34,888,668,750

Strike  300  has a total call value of 35,008,593,750  versus a total put value of  4,315,106,250 Combined total value = 39,323,700,000

Strike  302.5  has a total call value of 43,447,950,000  versus a total put value of  3,297,206,250 Combined total value = 46,745,156,250

Strike  305  has a total call value of 52,094,250,000  versus a total put value of  2,327,568,750 Combined total value = 54,421,818,750

Strike  307.5  has a total call value of 61,459,368,750  versus a total put value of  1,536,356,250 Combined total value = 62,995,725,000

Strike  310  has a total call value of 70,945,875,000  versus a total put value of  755,381,250 Combined total value = 71,701,256,250

Strike  312.5  has a total call value of 81,295,256,250  versus a total put value of  574,762,500 Combined total value = 81,870,018,750

Strike  315  has a total call value of 91,730,925,000  versus a total put value of  409,500,000 Combined total value = 92,140,425,000

Strike  317.5  has a total call value of 102,468,600,000  versus a total put value of  253,012,500 Combined total value = 102,721,612,500

Strike  320  has a total call value of 113,246,493,750  versus a total put value of  98,718,750 Combined total value = 113,345,212,500

Strike  322.5  has a total call value of 124,526,025,000  versus a total put value of  69,468,750 Combined total value = 124,595,493,750

Strike  325  has a total call value of 135,834,075,000  versus a total put value of  43,875,000 Combined total value = 135,877,950,000

Strike  327.5  has a total call value of 147,299,343,750  versus a total put value of  21,937,500 Combined total value = 147,321,281,250

Strike  330  has a total call value of 158,815,068,750  versus a total put value of  0 Combined total value = 158,815,068,750

Strike  332.5  has a total call value of 170,795,137,500  versus a total put value of  0 Combined total value = 170,795,137,500

Max-Pain Table for Stocks
  Note:- click on symbol to see more detailed view
Max Pain Table (Stocks)
Symbol Symbol Ltp Max Pain
360ONE 1136.3 1140
ABB 5232.5 5200
ABCAPITAL 348.2 350
ADANIENSOL 987.9 990
ADANIENT 2230.4 2300
ADANIGREEN 1022.2 1020
ADANIPORTS 1490.8 1500
ALKEM 5671 5700
AMBER 6732 6800
AMBUJACEM 546 555
ANGELONE 2517.2 2600
APLAPOLLO 1720.8 1740
APOLLOHOSP 7017.5 7200
ASHOKLEY 165.9 160
ASIANPAINT 2801.4 2800
ASTRAL 1442.6 1460
AUBANK 993.75 960
AUROPHARMA 1183.4 1200
AXISBANK 1229.3 1240
BAJAJ-AUTO 8946.5 9000
BAJAJFINSV 2031.2 2060
BAJFINANCE 1003.4 1020
BANDHANBNK 149.39 150
BANKBARODA 285.05 290
BANKINDIA 141.47 143
BDL 1337.4 1400
BEL 385.75 400
BHARATFORG 1401.7 1400
BHARTIARTL 2097.3 2100
BHEL 277.85 280
BIOCON 385.9 390
BLUESTARCO 1815.3 1780
BOSCHLTD 36270 36500
BPCL 368.45 365
BRITANNIA 6106 6000
BSE 2645 2700
CAMS 749.3 780
CANBK 150 149
CDSL 1488.1 1560
CGPOWER 681 680
CHOLAFIN 1710.9 1700
CIPLA 1495.2 1520
COALINDIA 384.1 384.75
COFORGE 1868 1840
COLPAL 2123.1 2180
CONCOR 498.5 520
CROMPTON 251.95 265
CUMMINSIND 4502.5 4500
CYIENT 1138.7 1160
DABUR 496.6 500
DALBHARAT 2045.7 2040
DELHIVERY 402.5 410
DIVISLAB 6361.5 6400
DIXON 13400 13750
DLF 684.65 710
DMART 3844.1 3900
DRREDDY 1271.2 1270
EICHERMOT 7152 7100
ETERNAL 285.6 295
EXIDEIND 361.95 375
FEDERALBNK 263.8 260
FORTIS 873.45 890
GAIL 169.5 175
GLENMARK 1959 1940
GMRAIRPORT 102.78 102
GODREJCP 1186.3 1160
GODREJPROP 2021.9 2080
GRASIM 2788.3 2800
HAL 4232.8 4450
HAVELLS 1397.4 1440
HCLTECH 1656.5 1660
HDFCAMC 2571.1 2620
HDFCBANK 987.5 1000
HDFCLIFE 754.85 770
HEROMOTOCO 5887 6000
HFCL 64.81 68
HINDALCO 845.25 820
HINDPETRO 468.4 460
HINDUNILVR 2280.9 2300
HINDZINC 583.8 550
HUDCO 210.17 220
ICICIBANK 1347.1 1370
ICICIGI 1945.2 1980
ICICIPRULI 634.7 630
IDEA 11.31 11
IDFCFIRSTB 83.42 82
IEX 140.8 145
IIFL 567.95 560
INDHOTEL 723.35 740
INDIANB 776.45 820
INDIGO 4952.5 5000
INDUSINDBK 837 850
INDUSTOWER 406.45 410
INFY 1596.1 1600
INOXWIND 126.38 130
IOC 168.25 166
IRCTC 668.05 690
IREDA 133.15 140
IRFC 111.7 116
ITC 402 405
JINDALSTEL 1008 1020
JIOFIN 293.75 305
JSWENERGY 480.85 490
JSWSTEEL 1087.1 1130
JUBLFOOD 556.25 580
KALYANKJIL 477.2 480
KAYNES 4192 4400
KEI 4091.3 4100
KFINTECH 1027.6 1060
KOTAKBANK 2179 2160
KPITTECH 1167.5 1200
LAURUSLABS 1011.3 1000
LICHSGFIN 526.45 550
LICI 855.75 880
LODHA 1076.2 1100
LT 4058.3 4040
LTF 302.3 302.5
LTIM 6222 6200
LUPIN 2118.9 2080
M&M 3615.8 3700
MANAPPURAM 284.65 280
MANKIND 2102 2200
MARICO 737.25 740
MARUTI 16412 16300
MAXHEALTH 1055.1 1100
MAZDOCK 2383 2550
MCX 10158 10100
MFSL 1660 1700
MOTHERSON 119.67 116
MPHASIS 2862.5 2900
MUTHOOTFIN 3831 3800
NATIONALUM 279.15 270
NAUKRI 1351.5 1360
NBCC 111 112
NCC 157.21 167.5
NESTLEIND 1236 1240
NHPC 75.47 78
NMDC 77.32 77
NTPC 321.2 325
NUVAMA 7221 7200
NYKAA 246.15 255
OBEROIRLTY 1627.3 1640
OFSS 7802 8000
OIL 402 410
ONGC 231.79 239
PAGEIND 36150 37000
PATANJALI 536 540
PAYTM 1277.5 1300
PERSISTENT 6294 6300
PETRONET 267.2 278
PFC 337.2 355
PGEL 562.85 560
PHOENIXLTD 1785 1740
PIDILITIND 1460.8 1480
PIIND 3224.1 3350
PNB 118.25 120
PNBHOUSING 908.95 910
POLICYBZR 1789.9 1840
POLYCAB 7102 7200
POWERGRID 261.2 270
POWERINDIA 19430 19500
PPLPHARMA 168.84 180
PRESTIGE 1606.8 1660
RBLBANK 296.9 310
RECLTD 335.1 350
RELIANCE 1543 1540
RVNL 307.9 315
SAIL 129.81 133
SAMMAANCAP 145.05 155
SBICARD 837.5 870
SBILIFE 2010.7 2020
SBIN 975.3 970
SHREECEM 26100 26500
SHRIRAMFIN 860.8 850
SIEMENS 3152.8 3200
SOLARINDS 11896 12500
SONACOMS 487.05 500
SRF 3008.6 2950
SUNPHARMA 1777 1800
SUPREMEIND 3372 3400
SUZLON 52.38 54
SYNGENE 644.35 650
TATACONSUM 1178.2 1170
TATAELXSI 5003.5 5100
TATAMOTORS 0 320
TATAPOWER 381.35 390
TATASTEEL 170.5 170
TATATECH 648 670
TCS 3221.3 3200
TECHM 1578.1 1540
TIINDIA 2627.1 2700
TITAGARH 782.45 800
TITAN 3928.9 3880
TMPV 347.95 360
TORNTPHARM 3744.9 3750
TORNTPOWER 1295 1300
TRENT 4082.5 4200
TVSMOTOR 3636.8 3600
ULTRACEMCO 11530 11700
UNIONBANK 153.34 155
UNITDSPR 1446 1440
UNOMINDA 1255.4 1280
UPL 750 750
VBL 473.9 470
VEDL 570.8 550
VOLTAS 1388.6 1380
WIPRO 260.77 255
YESBANK 21.55 22
ZYDUSLIFE 917.25 930

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.