[--[65.84.65.76]--]

BANKEX

Bank Index
61706.88 -611.55 (-0.98%)
L: 61258.06 H: 62008.18
Max Pain
30 Apr 2026 04:14 PM IST
Market Closed
Quick Help
Max-Pain
61,800
DFC
7D Avg
Reliability
14D Avg
Reliability
21D Avg
Reliability
Max Pain for BANKEX is 61800


Strike  50300  has a total call value of 0  versus a total put value of  1,410,000,000. Combined total value = 1,410,000,000

Strike  50400  has a total call value of 0  versus a total put value of  1,382,700,000. Combined total value = 1,382,700,000

Strike  50500  has a total call value of 0  versus a total put value of  1,359,600,000. Combined total value = 1,359,600,000

Strike  50600  has a total call value of 0  versus a total put value of  1,338,300,000. Combined total value = 1,338,300,000

Strike  50700  has a total call value of 0  versus a total put value of  1,319,400,000. Combined total value = 1,319,400,000

Strike  50800  has a total call value of 0  versus a total put value of  1,301,100,000. Combined total value = 1,301,100,000

Strike  50900  has a total call value of 0  versus a total put value of  1,282,800,000. Combined total value = 1,282,800,000

Strike  51000  has a total call value of 0  versus a total put value of  1,264,500,000. Combined total value = 1,264,500,000

Strike  51100  has a total call value of 0  versus a total put value of  1,246,200,000. Combined total value = 1,246,200,000

Strike  51200  has a total call value of 0  versus a total put value of  1,227,900,000. Combined total value = 1,227,900,000

Strike  51300  has a total call value of 0  versus a total put value of  1,209,600,000. Combined total value = 1,209,600,000

Strike  51400  has a total call value of 0  versus a total put value of  1,191,300,000. Combined total value = 1,191,300,000

Strike  51500  has a total call value of 0  versus a total put value of  1,173,000,000. Combined total value = 1,173,000,000

Strike  51600  has a total call value of 0  versus a total put value of  1,155,000,000. Combined total value = 1,155,000,000

Strike  51700  has a total call value of 0  versus a total put value of  1,137,000,000. Combined total value = 1,137,000,000

Strike  51800  has a total call value of 0  versus a total put value of  1,119,000,000. Combined total value = 1,119,000,000

Strike  51900  has a total call value of 0  versus a total put value of  1,101,000,000. Combined total value = 1,101,000,000

Strike  52000  has a total call value of 0  versus a total put value of  1,083,000,000. Combined total value = 1,083,000,000

Strike  52100  has a total call value of 0  versus a total put value of  1,065,000,000. Combined total value = 1,065,000,000

Strike  52200  has a total call value of 0  versus a total put value of  1,047,000,000. Combined total value = 1,047,000,000

Strike  52300  has a total call value of 0  versus a total put value of  1,029,000,000. Combined total value = 1,029,000,000

Strike  52400  has a total call value of 0  versus a total put value of  1,011,000,000. Combined total value = 1,011,000,000

Strike  52500  has a total call value of 0  versus a total put value of  993,000,000. Combined total value = 993,000,000

Strike  52600  has a total call value of 0  versus a total put value of  975,000,000. Combined total value = 975,000,000

Strike  52700  has a total call value of 0  versus a total put value of  957,000,000. Combined total value = 957,000,000

Strike  52800  has a total call value of 0  versus a total put value of  939,000,000. Combined total value = 939,000,000

Strike  52900  has a total call value of 0  versus a total put value of  921,000,000. Combined total value = 921,000,000

Strike  53000  has a total call value of 0  versus a total put value of  903,000,000. Combined total value = 903,000,000

Strike  53100  has a total call value of 0  versus a total put value of  891,300,000. Combined total value = 891,300,000

Strike  53200  has a total call value of 0  versus a total put value of  879,600,000. Combined total value = 879,600,000

Strike  53300  has a total call value of 0  versus a total put value of  867,900,000. Combined total value = 867,900,000

Strike  53400  has a total call value of 0  versus a total put value of  856,200,000. Combined total value = 856,200,000

Strike  53500  has a total call value of 0  versus a total put value of  844,500,000. Combined total value = 844,500,000

Strike  53600  has a total call value of 0  versus a total put value of  832,800,000. Combined total value = 832,800,000

Strike  53700  has a total call value of 0  versus a total put value of  821,100,000. Combined total value = 821,100,000

Strike  53800  has a total call value of 0  versus a total put value of  809,400,000. Combined total value = 809,400,000

Strike  53900  has a total call value of 0  versus a total put value of  797,700,000. Combined total value = 797,700,000

Strike  54000  has a total call value of 0  versus a total put value of  786,000,000. Combined total value = 786,000,000

Strike  54100  has a total call value of 0  versus a total put value of  774,600,000. Combined total value = 774,600,000

Strike  54200  has a total call value of 0  versus a total put value of  763,200,000. Combined total value = 763,200,000

Strike  54300  has a total call value of 0  versus a total put value of  751,800,000. Combined total value = 751,800,000

Strike  54400  has a total call value of 0  versus a total put value of  740,400,000. Combined total value = 740,400,000

Strike  54500  has a total call value of 0  versus a total put value of  729,000,000. Combined total value = 729,000,000

Strike  54600  has a total call value of 0  versus a total put value of  717,600,000. Combined total value = 717,600,000

Strike  54700  has a total call value of 0  versus a total put value of  706,200,000. Combined total value = 706,200,000

Strike  54800  has a total call value of 0  versus a total put value of  694,800,000. Combined total value = 694,800,000

Strike  54900  has a total call value of 0  versus a total put value of  683,400,000. Combined total value = 683,400,000

Strike  55000  has a total call value of 0  versus a total put value of  672,000,000. Combined total value = 672,000,000

Strike  55100  has a total call value of 0  versus a total put value of  660,600,000. Combined total value = 660,600,000

Strike  55200  has a total call value of 0  versus a total put value of  649,200,000. Combined total value = 649,200,000

Strike  55300  has a total call value of 0  versus a total put value of  637,800,000. Combined total value = 637,800,000

Strike  55400  has a total call value of 0  versus a total put value of  626,400,000. Combined total value = 626,400,000

Strike  55500  has a total call value of 0  versus a total put value of  615,000,000. Combined total value = 615,000,000

Strike  55600  has a total call value of 0  versus a total put value of  603,600,000. Combined total value = 603,600,000

Strike  55700  has a total call value of 0  versus a total put value of  592,200,000. Combined total value = 592,200,000

Strike  55800  has a total call value of 0  versus a total put value of  580,800,000. Combined total value = 580,800,000

Strike  55900  has a total call value of 0  versus a total put value of  569,400,000. Combined total value = 569,400,000

Strike  56000  has a total call value of 0  versus a total put value of  558,000,000. Combined total value = 558,000,000

Strike  56100  has a total call value of 0  versus a total put value of  546,600,000. Combined total value = 546,600,000

Strike  56200  has a total call value of 0  versus a total put value of  535,200,000. Combined total value = 535,200,000

Strike  56300  has a total call value of 0  versus a total put value of  523,800,000. Combined total value = 523,800,000

Strike  56400  has a total call value of 0  versus a total put value of  512,400,000. Combined total value = 512,400,000

Strike  56500  has a total call value of 0  versus a total put value of  501,000,000. Combined total value = 501,000,000

Strike  56600  has a total call value of 0  versus a total put value of  489,600,000. Combined total value = 489,600,000

Strike  56700  has a total call value of 0  versus a total put value of  478,200,000. Combined total value = 478,200,000

Strike  56800  has a total call value of 0  versus a total put value of  466,800,000. Combined total value = 466,800,000

Strike  56900  has a total call value of 0  versus a total put value of  455,400,000. Combined total value = 455,400,000

Strike  57000  has a total call value of 0  versus a total put value of  444,000,000. Combined total value = 444,000,000

Strike  57100  has a total call value of 0  versus a total put value of  432,600,000. Combined total value = 432,600,000

Strike  57200  has a total call value of 0  versus a total put value of  421,200,000. Combined total value = 421,200,000

Strike  57300  has a total call value of 0  versus a total put value of  409,800,000. Combined total value = 409,800,000

Strike  57400  has a total call value of 0  versus a total put value of  398,400,000. Combined total value = 398,400,000

Strike  57500  has a total call value of 0  versus a total put value of  387,000,000. Combined total value = 387,000,000

Strike  57600  has a total call value of 0  versus a total put value of  375,600,000. Combined total value = 375,600,000

Strike  57700  has a total call value of 0  versus a total put value of  364,200,000. Combined total value = 364,200,000

Strike  57800  has a total call value of 0  versus a total put value of  352,800,000. Combined total value = 352,800,000

Strike  57900  has a total call value of 0  versus a total put value of  341,400,000. Combined total value = 341,400,000

Strike  58000  has a total call value of 0  versus a total put value of  330,000,000. Combined total value = 330,000,000

Strike  58100  has a total call value of 0  versus a total put value of  318,600,000. Combined total value = 318,600,000

Strike  58200  has a total call value of 0  versus a total put value of  307,200,000. Combined total value = 307,200,000

Strike  58300  has a total call value of 0  versus a total put value of  295,800,000. Combined total value = 295,800,000

Strike  58400  has a total call value of 0  versus a total put value of  284,400,000. Combined total value = 284,400,000

Strike  58500  has a total call value of 0  versus a total put value of  273,000,000. Combined total value = 273,000,000

Strike  58600  has a total call value of 0  versus a total put value of  261,600,000. Combined total value = 261,600,000

Strike  58700  has a total call value of 0  versus a total put value of  250,200,000. Combined total value = 250,200,000

Strike  58800  has a total call value of 0  versus a total put value of  238,800,000. Combined total value = 238,800,000

Strike  58900  has a total call value of 0  versus a total put value of  227,400,000. Combined total value = 227,400,000

Strike  59000  has a total call value of 0  versus a total put value of  216,000,000. Combined total value = 216,000,000

Strike  59100  has a total call value of 0  versus a total put value of  207,600,000. Combined total value = 207,600,000

Strike  59200  has a total call value of 0  versus a total put value of  199,200,000. Combined total value = 199,200,000

Strike  59300  has a total call value of 0  versus a total put value of  190,800,000. Combined total value = 190,800,000

Strike  59400  has a total call value of 0  versus a total put value of  182,400,000. Combined total value = 182,400,000

Strike  59500  has a total call value of 0  versus a total put value of  174,000,000. Combined total value = 174,000,000

Strike  59600  has a total call value of 0  versus a total put value of  165,600,000. Combined total value = 165,600,000

Strike  59700  has a total call value of 0  versus a total put value of  157,200,000. Combined total value = 157,200,000

Strike  59800  has a total call value of 0  versus a total put value of  148,800,000. Combined total value = 148,800,000

Strike  59900  has a total call value of 0  versus a total put value of  140,400,000. Combined total value = 140,400,000

Strike  60000  has a total call value of 0  versus a total put value of  132,000,000. Combined total value = 132,000,000

Strike  60100  has a total call value of 0  versus a total put value of  125,100,000. Combined total value = 125,100,000

Strike  60200  has a total call value of 0  versus a total put value of  118,200,000. Combined total value = 118,200,000

Strike  60300  has a total call value of 0  versus a total put value of  111,300,000. Combined total value = 111,300,000

Strike  60400  has a total call value of 0  versus a total put value of  104,400,000. Combined total value = 104,400,000

Strike  60500  has a total call value of 0  versus a total put value of  97,500,000. Combined total value = 97,500,000

Strike  60600  has a total call value of 0  versus a total put value of  92,400,000. Combined total value = 92,400,000

Strike  60700  has a total call value of 0  versus a total put value of  87,300,000. Combined total value = 87,300,000

Strike  60800  has a total call value of 0  versus a total put value of  82,200,000. Combined total value = 82,200,000

Strike  60900  has a total call value of 0  versus a total put value of  77,100,000. Combined total value = 77,100,000

Strike  61000  has a total call value of 0  versus a total put value of  72,000,000. Combined total value = 72,000,000

Strike  61100  has a total call value of 0  versus a total put value of  68,700,000. Combined total value = 68,700,000

Strike  61200  has a total call value of 0  versus a total put value of  65,400,000. Combined total value = 65,400,000

Strike  61300  has a total call value of 0  versus a total put value of  62,100,000. Combined total value = 62,100,000

Strike  61400  has a total call value of 0  versus a total put value of  58,800,000. Combined total value = 58,800,000

Strike  61500  has a total call value of 0  versus a total put value of  55,500,000. Combined total value = 55,500,000

Strike  61600  has a total call value of 1,200,000  versus a total put value of  54,000,000. Combined total value = 55,200,000

Strike  61700  has a total call value of 2,400,000  versus a total put value of  52,500,000. Combined total value = 54,900,000

Strike  61800  has a total call value of 3,600,000  versus a total put value of  51,000,000. Combined total value = 54,600,000

Strike  61900  has a total call value of 5,100,000  versus a total put value of  49,500,000. Combined total value = 54,600,000

Strike  62000  has a total call value of 6,600,000  versus a total put value of  48,000,000. Combined total value = 54,600,000

Strike  62100  has a total call value of 8,400,000  versus a total put value of  47,100,000. Combined total value = 55,500,000

Strike  62200  has a total call value of 10,200,000  versus a total put value of  46,200,000. Combined total value = 56,400,000

Strike  62300  has a total call value of 12,000,000  versus a total put value of  45,300,000. Combined total value = 57,300,000

Strike  62400  has a total call value of 13,800,000  versus a total put value of  44,400,000. Combined total value = 58,200,000

Strike  62500  has a total call value of 15,600,000  versus a total put value of  43,500,000. Combined total value = 59,100,000

Strike  62600  has a total call value of 17,400,000  versus a total put value of  43,200,000. Combined total value = 60,600,000

Strike  62700  has a total call value of 19,200,000  versus a total put value of  42,900,000. Combined total value = 62,100,000

Strike  62800  has a total call value of 21,000,000  versus a total put value of  42,600,000. Combined total value = 63,600,000

Strike  62900  has a total call value of 22,800,000  versus a total put value of  42,300,000. Combined total value = 65,100,000

Strike  63000  has a total call value of 24,600,000  versus a total put value of  42,000,000. Combined total value = 66,600,000

Strike  63100  has a total call value of 26,400,000  versus a total put value of  41,700,000. Combined total value = 68,100,000

Strike  63200  has a total call value of 28,200,000  versus a total put value of  41,400,000. Combined total value = 69,600,000

Strike  63300  has a total call value of 30,000,000  versus a total put value of  41,100,000. Combined total value = 71,100,000

Strike  63400  has a total call value of 31,800,000  versus a total put value of  40,800,000. Combined total value = 72,600,000

Strike  63500  has a total call value of 33,600,000  versus a total put value of  40,500,000. Combined total value = 74,100,000

Strike  63600  has a total call value of 37,500,000  versus a total put value of  40,200,000. Combined total value = 77,700,000

Strike  63700  has a total call value of 41,400,000  versus a total put value of  39,900,000. Combined total value = 81,300,000

Strike  63800  has a total call value of 45,300,000  versus a total put value of  39,600,000. Combined total value = 84,900,000

Strike  63900  has a total call value of 49,200,000  versus a total put value of  39,300,000. Combined total value = 88,500,000

Strike  64000  has a total call value of 53,400,000  versus a total put value of  39,000,000. Combined total value = 92,400,000

Strike  64100  has a total call value of 59,700,000  versus a total put value of  38,700,000. Combined total value = 98,400,000

Strike  64200  has a total call value of 66,000,000  versus a total put value of  38,400,000. Combined total value = 104,400,000

Strike  64300  has a total call value of 72,300,000  versus a total put value of  38,100,000. Combined total value = 110,400,000

Strike  64400  has a total call value of 78,600,000  versus a total put value of  37,800,000. Combined total value = 116,400,000

Strike  64500  has a total call value of 84,900,000  versus a total put value of  37,500,000. Combined total value = 122,400,000

Strike  64600  has a total call value of 91,800,000  versus a total put value of  37,200,000. Combined total value = 129,000,000

Strike  64700  has a total call value of 98,700,000  versus a total put value of  36,900,000. Combined total value = 135,600,000

Strike  64800  has a total call value of 105,600,000  versus a total put value of  36,600,000. Combined total value = 142,200,000

Strike  64900  has a total call value of 112,500,000  versus a total put value of  36,300,000. Combined total value = 148,800,000

Strike  65000  has a total call value of 119,400,000  versus a total put value of  36,000,000. Combined total value = 155,400,000

Strike  65100  has a total call value of 128,100,000  versus a total put value of  35,700,000. Combined total value = 163,800,000

Strike  65200  has a total call value of 136,800,000  versus a total put value of  35,400,000. Combined total value = 172,200,000

Strike  65300  has a total call value of 145,500,000  versus a total put value of  35,100,000. Combined total value = 180,600,000

Strike  65400  has a total call value of 154,200,000  versus a total put value of  34,800,000. Combined total value = 189,000,000

Strike  65500  has a total call value of 162,900,000  versus a total put value of  34,500,000. Combined total value = 197,400,000

Strike  65600  has a total call value of 171,600,000  versus a total put value of  34,200,000. Combined total value = 205,800,000

Strike  65700  has a total call value of 180,300,000  versus a total put value of  33,900,000. Combined total value = 214,200,000

Strike  65800  has a total call value of 189,000,000  versus a total put value of  33,600,000. Combined total value = 222,600,000

Strike  65900  has a total call value of 197,700,000  versus a total put value of  33,300,000. Combined total value = 231,000,000

Strike  66000  has a total call value of 206,400,000  versus a total put value of  33,000,000. Combined total value = 239,400,000

Strike  66100  has a total call value of 215,100,000  versus a total put value of  32,700,000. Combined total value = 247,800,000

Strike  66200  has a total call value of 223,800,000  versus a total put value of  32,400,000. Combined total value = 256,200,000

Strike  66300  has a total call value of 232,500,000  versus a total put value of  32,100,000. Combined total value = 264,600,000

Strike  66400  has a total call value of 241,200,000  versus a total put value of  31,800,000. Combined total value = 273,000,000

Strike  66500  has a total call value of 249,900,000  versus a total put value of  31,500,000. Combined total value = 281,400,000

Strike  66600  has a total call value of 258,600,000  versus a total put value of  31,200,000. Combined total value = 289,800,000

Strike  66700  has a total call value of 267,300,000  versus a total put value of  30,900,000. Combined total value = 298,200,000

Strike  66800  has a total call value of 276,000,000  versus a total put value of  30,600,000. Combined total value = 306,600,000

Strike  66900  has a total call value of 288,000,000  versus a total put value of  30,300,000. Combined total value = 318,300,000

Strike  67000  has a total call value of 300,000,000  versus a total put value of  30,000,000. Combined total value = 330,000,000

Strike  67100  has a total call value of 312,000,000  versus a total put value of  29,700,000. Combined total value = 341,700,000

Strike  67200  has a total call value of 324,000,000  versus a total put value of  29,400,000. Combined total value = 353,400,000

Strike  67300  has a total call value of 336,000,000  versus a total put value of  29,100,000. Combined total value = 365,100,000

Strike  67400  has a total call value of 348,000,000  versus a total put value of  28,800,000. Combined total value = 376,800,000

Strike  67500  has a total call value of 360,000,000  versus a total put value of  28,500,000. Combined total value = 388,500,000

Strike  67600  has a total call value of 372,000,000  versus a total put value of  28,200,000. Combined total value = 400,200,000

Strike  67700  has a total call value of 384,000,000  versus a total put value of  27,900,000. Combined total value = 411,900,000

Strike  67800  has a total call value of 396,000,000  versus a total put value of  27,600,000. Combined total value = 423,600,000

Strike  67900  has a total call value of 408,000,000  versus a total put value of  27,300,000. Combined total value = 435,300,000

Strike  68000  has a total call value of 420,000,000  versus a total put value of  27,000,000. Combined total value = 447,000,000

Strike  68100  has a total call value of 432,000,000  versus a total put value of  26,700,000. Combined total value = 458,700,000

Strike  68200  has a total call value of 444,000,000  versus a total put value of  26,400,000. Combined total value = 470,400,000

Strike  68300  has a total call value of 456,000,000  versus a total put value of  26,100,000. Combined total value = 482,100,000

Strike  68400  has a total call value of 468,000,000  versus a total put value of  25,800,000. Combined total value = 493,800,000

Strike  68500  has a total call value of 480,000,000  versus a total put value of  25,500,000. Combined total value = 505,500,000

Strike  68600  has a total call value of 492,000,000  versus a total put value of  25,200,000. Combined total value = 517,200,000

Strike  68700  has a total call value of 504,000,000  versus a total put value of  24,900,000. Combined total value = 528,900,000

Strike  68800  has a total call value of 516,000,000  versus a total put value of  24,600,000. Combined total value = 540,600,000

Strike  68900  has a total call value of 528,000,000  versus a total put value of  24,300,000. Combined total value = 552,300,000

Strike  69000  has a total call value of 540,000,000  versus a total put value of  24,000,000. Combined total value = 564,000,000

Strike  69100  has a total call value of 552,000,000  versus a total put value of  23,700,000. Combined total value = 575,700,000

Strike  69200  has a total call value of 564,000,000  versus a total put value of  23,400,000. Combined total value = 587,400,000

Strike  69300  has a total call value of 576,000,000  versus a total put value of  23,100,000. Combined total value = 599,100,000

Strike  69400  has a total call value of 588,000,000  versus a total put value of  22,800,000. Combined total value = 610,800,000

Strike  69500  has a total call value of 600,000,000  versus a total put value of  22,500,000. Combined total value = 622,500,000

Strike  69600  has a total call value of 612,000,000  versus a total put value of  22,200,000. Combined total value = 634,200,000

Strike  69700  has a total call value of 624,000,000  versus a total put value of  21,900,000. Combined total value = 645,900,000

Strike  69800  has a total call value of 636,000,000  versus a total put value of  21,600,000. Combined total value = 657,600,000

Strike  69900  has a total call value of 648,000,000  versus a total put value of  21,300,000. Combined total value = 669,300,000

Strike  70000  has a total call value of 660,000,000  versus a total put value of  21,000,000. Combined total value = 681,000,000

Strike  70100  has a total call value of 672,900,000  versus a total put value of  20,700,000. Combined total value = 693,600,000

Strike  70200  has a total call value of 685,800,000  versus a total put value of  20,400,000. Combined total value = 706,200,000

Strike  70300  has a total call value of 698,700,000  versus a total put value of  20,100,000. Combined total value = 718,800,000

Strike  70400  has a total call value of 711,600,000  versus a total put value of  19,800,000. Combined total value = 731,400,000

Strike  70500  has a total call value of 724,500,000  versus a total put value of  19,500,000. Combined total value = 744,000,000

Strike  70600  has a total call value of 737,400,000  versus a total put value of  19,200,000. Combined total value = 756,600,000

Strike  70700  has a total call value of 750,300,000  versus a total put value of  18,900,000. Combined total value = 769,200,000

Strike  70800  has a total call value of 763,200,000  versus a total put value of  18,600,000. Combined total value = 781,800,000

Strike  70900  has a total call value of 776,100,000  versus a total put value of  18,300,000. Combined total value = 794,400,000

Strike  71000  has a total call value of 789,000,000  versus a total put value of  18,000,000. Combined total value = 807,000,000

Strike  71100  has a total call value of 801,900,000  versus a total put value of  17,700,000. Combined total value = 819,600,000

Strike  71200  has a total call value of 814,800,000  versus a total put value of  17,400,000. Combined total value = 832,200,000

Strike  71300  has a total call value of 827,700,000  versus a total put value of  17,100,000. Combined total value = 844,800,000

Strike  71400  has a total call value of 840,600,000  versus a total put value of  16,800,000. Combined total value = 857,400,000

Strike  71500  has a total call value of 853,500,000  versus a total put value of  16,500,000. Combined total value = 870,000,000

Strike  71600  has a total call value of 866,400,000  versus a total put value of  16,200,000. Combined total value = 882,600,000

Strike  71700  has a total call value of 879,300,000  versus a total put value of  15,900,000. Combined total value = 895,200,000

Strike  71800  has a total call value of 892,200,000  versus a total put value of  15,600,000. Combined total value = 907,800,000

Strike  71900  has a total call value of 905,100,000  versus a total put value of  15,300,000. Combined total value = 920,400,000

Strike  72000  has a total call value of 918,000,000  versus a total put value of  15,000,000. Combined total value = 933,000,000

Strike  72100  has a total call value of 930,900,000  versus a total put value of  14,700,000. Combined total value = 945,600,000

Strike  72200  has a total call value of 943,800,000  versus a total put value of  14,400,000. Combined total value = 958,200,000

Strike  72300  has a total call value of 956,700,000  versus a total put value of  14,100,000. Combined total value = 970,800,000

Strike  72400  has a total call value of 969,600,000  versus a total put value of  13,800,000. Combined total value = 983,400,000

Strike  72500  has a total call value of 982,500,000  versus a total put value of  13,500,000. Combined total value = 996,000,000

Strike  72600  has a total call value of 995,400,000  versus a total put value of  13,200,000. Combined total value = 1,008,600,000

Strike  72700  has a total call value of 1,008,300,000  versus a total put value of  12,900,000. Combined total value = 1,021,200,000

Strike  72800  has a total call value of 1,021,200,000  versus a total put value of  12,600,000. Combined total value = 1,033,800,000

Strike  72900  has a total call value of 1,034,100,000  versus a total put value of  12,300,000. Combined total value = 1,046,400,000

Strike  73000  has a total call value of 1,047,000,000  versus a total put value of  12,000,000. Combined total value = 1,059,000,000

Strike  73100  has a total call value of 1,060,200,000  versus a total put value of  11,700,000. Combined total value = 1,071,900,000

Strike  73200  has a total call value of 1,073,400,000  versus a total put value of  11,400,000. Combined total value = 1,084,800,000

Strike  73300  has a total call value of 1,086,600,000  versus a total put value of  11,100,000. Combined total value = 1,097,700,000

Strike  73400  has a total call value of 1,099,800,000  versus a total put value of  10,800,000. Combined total value = 1,110,600,000

Strike  73500  has a total call value of 1,113,000,000  versus a total put value of  10,500,000. Combined total value = 1,123,500,000

Strike  73600  has a total call value of 1,126,200,000  versus a total put value of  10,200,000. Combined total value = 1,136,400,000

Strike  73700  has a total call value of 1,139,400,000  versus a total put value of  9,900,000. Combined total value = 1,149,300,000

Strike  73800  has a total call value of 1,152,600,000  versus a total put value of  9,600,000. Combined total value = 1,162,200,000

Strike  73900  has a total call value of 1,165,800,000  versus a total put value of  9,300,000. Combined total value = 1,175,100,000

Strike  74000  has a total call value of 1,180,200,000  versus a total put value of  9,000,000. Combined total value = 1,189,200,000

Strike  74100  has a total call value of 1,194,600,000  versus a total put value of  8,700,000. Combined total value = 1,203,300,000

Strike  74200  has a total call value of 1,209,000,000  versus a total put value of  8,400,000. Combined total value = 1,217,400,000

Strike  74300  has a total call value of 1,223,400,000  versus a total put value of  8,100,000. Combined total value = 1,231,500,000

Strike  74400  has a total call value of 1,237,800,000  versus a total put value of  7,800,000. Combined total value = 1,245,600,000

Strike  74500  has a total call value of 1,252,200,000  versus a total put value of  7,500,000. Combined total value = 1,259,700,000

Strike  74600  has a total call value of 1,266,600,000  versus a total put value of  7,200,000. Combined total value = 1,273,800,000

Strike  74700  has a total call value of 1,281,000,000  versus a total put value of  6,900,000. Combined total value = 1,287,900,000

Strike  74800  has a total call value of 1,295,400,000  versus a total put value of  6,600,000. Combined total value = 1,302,000,000

Strike  74900  has a total call value of 1,309,800,000  versus a total put value of  6,300,000. Combined total value = 1,316,100,000

Strike  75000  has a total call value of 1,324,200,000  versus a total put value of  6,000,000. Combined total value = 1,330,200,000

Strike  75100  has a total call value of 1,338,600,000  versus a total put value of  5,700,000. Combined total value = 1,344,300,000

Strike  75200  has a total call value of 1,353,000,000  versus a total put value of  5,400,000. Combined total value = 1,358,400,000

Strike  75300  has a total call value of 1,367,400,000  versus a total put value of  5,100,000. Combined total value = 1,372,500,000

Strike  75400  has a total call value of 1,381,800,000  versus a total put value of  4,800,000. Combined total value = 1,386,600,000

Strike  75500  has a total call value of 1,396,200,000  versus a total put value of  4,500,000. Combined total value = 1,400,700,000

Strike  75600  has a total call value of 1,410,600,000  versus a total put value of  4,200,000. Combined total value = 1,414,800,000

Strike  75700  has a total call value of 1,425,000,000  versus a total put value of  3,900,000. Combined total value = 1,428,900,000

Strike  75800  has a total call value of 1,439,400,000  versus a total put value of  3,600,000. Combined total value = 1,443,000,000

Strike  75900  has a total call value of 1,453,800,000  versus a total put value of  3,300,000. Combined total value = 1,457,100,000

Strike  76000  has a total call value of 1,468,200,000  versus a total put value of  3,000,000. Combined total value = 1,471,200,000

Strike  76100  has a total call value of 1,482,600,000  versus a total put value of  2,700,000. Combined total value = 1,485,300,000

Strike  76200  has a total call value of 1,497,000,000  versus a total put value of  2,400,000. Combined total value = 1,499,400,000

Strike  76300  has a total call value of 1,511,400,000  versus a total put value of  2,100,000. Combined total value = 1,513,500,000

Strike  76400  has a total call value of 1,525,800,000  versus a total put value of  1,800,000. Combined total value = 1,527,600,000

Strike  76500  has a total call value of 1,540,200,000  versus a total put value of  1,500,000. Combined total value = 1,541,700,000

Strike  76600  has a total call value of 1,554,600,000  versus a total put value of  1,200,000. Combined total value = 1,555,800,000

Strike  76700  has a total call value of 1,569,000,000  versus a total put value of  900,000. Combined total value = 1,569,900,000

Strike  76800  has a total call value of 1,583,400,000  versus a total put value of  600,000. Combined total value = 1,584,000,000

Strike  76900  has a total call value of 1,597,800,000  versus a total put value of  300,000. Combined total value = 1,598,100,000

Strike  77000  has a total call value of 1,612,200,000  versus a total put value of  0. Combined total value = 1,612,200,000

Strike  77100  has a total call value of 1,626,600,000  versus a total put value of  0. Combined total value = 1,626,600,000

Strike  77200  has a total call value of 1,641,000,000  versus a total put value of  0. Combined total value = 1,641,000,000

Strike  77300  has a total call value of 1,655,400,000  versus a total put value of  0. Combined total value = 1,655,400,000

Strike  77400  has a total call value of 1,669,800,000  versus a total put value of  0. Combined total value = 1,669,800,000

Strike  77500  has a total call value of 1,684,200,000  versus a total put value of  0. Combined total value = 1,684,200,000

Strike  77600  has a total call value of 1,698,600,000  versus a total put value of  0. Combined total value = 1,698,600,000

Strike  77700  has a total call value of 1,713,000,000  versus a total put value of  0. Combined total value = 1,713,000,000

Strike  77800  has a total call value of 1,727,400,000  versus a total put value of  0. Combined total value = 1,727,400,000

Strike  77900  has a total call value of 1,741,800,000  versus a total put value of  0. Combined total value = 1,741,800,000

Strike  78000  has a total call value of 1,756,200,000  versus a total put value of  0. Combined total value = 1,756,200,000

Strike  78100  has a total call value of 1,770,600,000  versus a total put value of  0. Combined total value = 1,770,600,000

Strike  78200  has a total call value of 1,785,000,000  versus a total put value of  0. Combined total value = 1,785,000,000

Strike  78300  has a total call value of 1,799,400,000  versus a total put value of  0. Combined total value = 1,799,400,000

Max-Pain Table for Index
LTP > Max Pain Bearish
LTP < Max Pain Bullish
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.