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BANKEX
Bank Index
58416.4 928.65 (1.62%)

Max pain for BANKEX

11 Apr 2025 02:12 PM IST

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Max Pain for BANKEX is 59000  


Strike  49800  has a total call value of 0  versus a total put value of  51,733,800,000 Combined total value = 51,733,800,000

Strike  49900  has a total call value of 0  versus a total put value of  51,075,600,000 Combined total value = 51,075,600,000

Strike  50000  has a total call value of 0  versus a total put value of  50,417,400,000 Combined total value = 50,417,400,000

Strike  50100  has a total call value of 0  versus a total put value of  49,761,600,000 Combined total value = 49,761,600,000

Strike  50200  has a total call value of 0  versus a total put value of  49,105,800,000 Combined total value = 49,105,800,000

Strike  50300  has a total call value of 0  versus a total put value of  48,450,000,000 Combined total value = 48,450,000,000

Strike  50400  has a total call value of 0  versus a total put value of  47,794,200,000 Combined total value = 47,794,200,000

Strike  50500  has a total call value of 0  versus a total put value of  47,138,400,000 Combined total value = 47,138,400,000

Strike  50600  has a total call value of 0  versus a total put value of  46,482,600,000 Combined total value = 46,482,600,000

Strike  50700  has a total call value of 0  versus a total put value of  45,827,100,000 Combined total value = 45,827,100,000

Strike  50800  has a total call value of 0  versus a total put value of  45,174,000,000 Combined total value = 45,174,000,000

Strike  50900  has a total call value of 0  versus a total put value of  44,522,100,000 Combined total value = 44,522,100,000

Strike  51000  has a total call value of 0  versus a total put value of  43,872,600,000 Combined total value = 43,872,600,000

Strike  51100  has a total call value of 300,000  versus a total put value of  43,224,900,000 Combined total value = 43,225,200,000

Strike  51200  has a total call value of 600,000  versus a total put value of  42,579,300,000 Combined total value = 42,579,900,000

Strike  51300  has a total call value of 900,000  versus a total put value of  41,933,700,000 Combined total value = 41,934,600,000

Strike  51400  has a total call value of 1,200,000  versus a total put value of  41,288,100,000 Combined total value = 41,289,300,000

Strike  51500  has a total call value of 1,500,000  versus a total put value of  40,642,500,000 Combined total value = 40,644,000,000

Strike  51600  has a total call value of 1,800,000  versus a total put value of  39,996,900,000 Combined total value = 39,998,700,000

Strike  51700  has a total call value of 2,100,000  versus a total put value of  39,351,300,000 Combined total value = 39,353,400,000

Strike  51800  has a total call value of 2,400,000  versus a total put value of  38,705,700,000 Combined total value = 38,708,100,000

Strike  51900  has a total call value of 2,700,000  versus a total put value of  38,060,100,000 Combined total value = 38,062,800,000

Strike  52000  has a total call value of 3,000,000  versus a total put value of  37,414,500,000 Combined total value = 37,417,500,000

Strike  52100  has a total call value of 3,600,000  versus a total put value of  36,768,900,000 Combined total value = 36,772,500,000

Strike  52200  has a total call value of 4,200,000  versus a total put value of  36,123,300,000 Combined total value = 36,127,500,000

Strike  52300  has a total call value of 4,800,000  versus a total put value of  35,477,700,000 Combined total value = 35,482,500,000

Strike  52400  has a total call value of 5,400,000  versus a total put value of  34,832,100,000 Combined total value = 34,837,500,000

Strike  52500  has a total call value of 6,000,000  versus a total put value of  34,186,500,000 Combined total value = 34,192,500,000

Strike  52600  has a total call value of 6,600,000  versus a total put value of  33,540,900,000 Combined total value = 33,547,500,000

Strike  52700  has a total call value of 7,200,000  versus a total put value of  32,895,300,000 Combined total value = 32,902,500,000

Strike  52800  has a total call value of 7,800,000  versus a total put value of  32,249,700,000 Combined total value = 32,257,500,000

Strike  52900  has a total call value of 8,400,000  versus a total put value of  31,604,100,000 Combined total value = 31,612,500,000

Strike  53000  has a total call value of 9,000,000  versus a total put value of  30,958,500,000 Combined total value = 30,967,500,000

Strike  53100  has a total call value of 9,600,000  versus a total put value of  30,312,900,000 Combined total value = 30,322,500,000

Strike  53200  has a total call value of 10,200,000  versus a total put value of  29,667,300,000 Combined total value = 29,677,500,000

Strike  53300  has a total call value of 10,800,000  versus a total put value of  29,021,700,000 Combined total value = 29,032,500,000

Strike  53400  has a total call value of 11,400,000  versus a total put value of  28,376,100,000 Combined total value = 28,387,500,000

Strike  53500  has a total call value of 12,000,000  versus a total put value of  27,730,500,000 Combined total value = 27,742,500,000

Strike  53600  has a total call value of 12,600,000  versus a total put value of  27,084,900,000 Combined total value = 27,097,500,000

Strike  53700  has a total call value of 13,200,000  versus a total put value of  26,439,300,000 Combined total value = 26,452,500,000

Strike  53800  has a total call value of 13,800,000  versus a total put value of  25,793,700,000 Combined total value = 25,807,500,000

Strike  53900  has a total call value of 14,400,000  versus a total put value of  25,148,100,000 Combined total value = 25,162,500,000

Strike  54000  has a total call value of 15,000,000  versus a total put value of  24,502,500,000 Combined total value = 24,517,500,000

Strike  54100  has a total call value of 15,600,000  versus a total put value of  23,856,900,000 Combined total value = 23,872,500,000

Strike  54200  has a total call value of 16,200,000  versus a total put value of  23,222,100,000 Combined total value = 23,238,300,000

Strike  54300  has a total call value of 16,800,000  versus a total put value of  22,587,300,000 Combined total value = 22,604,100,000

Strike  54400  has a total call value of 17,400,000  versus a total put value of  21,952,500,000 Combined total value = 21,969,900,000

Strike  54500  has a total call value of 18,000,000  versus a total put value of  21,317,700,000 Combined total value = 21,335,700,000

Strike  54600  has a total call value of 18,600,000  versus a total put value of  20,694,300,000 Combined total value = 20,712,900,000

Strike  54700  has a total call value of 19,200,000  versus a total put value of  20,070,900,000 Combined total value = 20,090,100,000

Strike  54800  has a total call value of 19,800,000  versus a total put value of  19,447,500,000 Combined total value = 19,467,300,000

Strike  54900  has a total call value of 20,400,000  versus a total put value of  18,824,100,000 Combined total value = 18,844,500,000

Strike  55000  has a total call value of 21,000,000  versus a total put value of  18,200,700,000 Combined total value = 18,221,700,000

Strike  55100  has a total call value of 21,600,000  versus a total put value of  17,588,100,000 Combined total value = 17,609,700,000

Strike  55200  has a total call value of 22,200,000  versus a total put value of  16,975,500,000 Combined total value = 16,997,700,000

Strike  55300  has a total call value of 22,800,000  versus a total put value of  16,363,500,000 Combined total value = 16,386,300,000

Strike  55400  has a total call value of 23,400,000  versus a total put value of  15,755,100,000 Combined total value = 15,778,500,000

Strike  55500  has a total call value of 24,000,000  versus a total put value of  15,153,000,000 Combined total value = 15,177,000,000

Strike  55600  has a total call value of 24,600,000  versus a total put value of  14,557,800,000 Combined total value = 14,582,400,000

Strike  55700  has a total call value of 25,200,000  versus a total put value of  13,973,100,000 Combined total value = 13,998,300,000

Strike  55800  has a total call value of 25,800,000  versus a total put value of  13,391,100,000 Combined total value = 13,416,900,000

Strike  55900  has a total call value of 26,400,000  versus a total put value of  12,810,900,000 Combined total value = 12,837,300,000

Strike  56000  has a total call value of 27,000,000  versus a total put value of  12,236,700,000 Combined total value = 12,263,700,000

Strike  56100  has a total call value of 27,600,000  versus a total put value of  11,691,900,000 Combined total value = 11,719,500,000

Strike  56200  has a total call value of 28,200,000  versus a total put value of  11,154,000,000 Combined total value = 11,182,200,000

Strike  56300  has a total call value of 34,200,000  versus a total put value of  10,623,000,000 Combined total value = 10,657,200,000

Strike  56400  has a total call value of 40,200,000  versus a total put value of  10,100,400,000 Combined total value = 10,140,600,000

Strike  56500  has a total call value of 46,200,000  versus a total put value of  9,585,900,000 Combined total value = 9,632,100,000

Strike  56600  has a total call value of 52,500,000  versus a total put value of  9,118,500,000 Combined total value = 9,171,000,000

Strike  56700  has a total call value of 71,700,000  versus a total put value of  8,668,200,000 Combined total value = 8,739,900,000

Strike  56800  has a total call value of 96,000,000  versus a total put value of  8,231,700,000 Combined total value = 8,327,700,000

Strike  56900  has a total call value of 123,300,000  versus a total put value of  7,807,500,000 Combined total value = 7,930,800,000

Strike  57000  has a total call value of 150,600,000  versus a total put value of  7,394,400,000 Combined total value = 7,545,000,000

Strike  57100  has a total call value of 207,000,000  versus a total put value of  7,011,300,000 Combined total value = 7,218,300,000

Strike  57200  has a total call value of 276,900,000  versus a total put value of  6,640,800,000 Combined total value = 6,917,700,000

Strike  57300  has a total call value of 355,500,000  versus a total put value of  6,276,300,000 Combined total value = 6,631,800,000

Strike  57400  has a total call value of 438,000,000  versus a total put value of  5,919,900,000 Combined total value = 6,357,900,000

Strike  57500  has a total call value of 531,300,000  versus a total put value of  5,569,500,000 Combined total value = 6,100,800,000

Strike  57600  has a total call value of 636,000,000  versus a total put value of  5,230,500,000 Combined total value = 5,866,500,000

Strike  57700  has a total call value of 743,700,000  versus a total put value of  4,897,200,000 Combined total value = 5,640,900,000

Strike  57800  has a total call value of 854,400,000  versus a total put value of  4,568,400,000 Combined total value = 5,422,800,000

Strike  57900  has a total call value of 968,700,000  versus a total put value of  4,245,300,000 Combined total value = 5,214,000,000

Strike  58000  has a total call value of 1,088,100,000  versus a total put value of  3,925,800,000 Combined total value = 5,013,900,000

Strike  58100  has a total call value of 1,221,600,000  versus a total put value of  3,619,800,000 Combined total value = 4,841,400,000

Strike  58200  has a total call value of 1,362,300,000  versus a total put value of  3,320,100,000 Combined total value = 4,682,400,000

Strike  58300  has a total call value of 1,508,400,000  versus a total put value of  3,027,300,000 Combined total value = 4,535,700,000

Strike  58400  has a total call value of 1,660,200,000  versus a total put value of  2,746,200,000 Combined total value = 4,406,400,000

Strike  58500  has a total call value of 1,815,600,000  versus a total put value of  2,472,900,000 Combined total value = 4,288,500,000

Strike  58600  has a total call value of 1,978,500,000  versus a total put value of  2,208,300,000 Combined total value = 4,186,800,000

Strike  58700  has a total call value of 2,154,000,000  versus a total put value of  1,955,700,000 Combined total value = 4,109,700,000

Strike  58800  has a total call value of 2,334,300,000  versus a total put value of  1,714,500,000 Combined total value = 4,048,800,000

Strike  58900  has a total call value of 2,522,400,000  versus a total put value of  1,493,400,000 Combined total value = 4,015,800,000

Strike  59000  has a total call value of 2,721,600,000  versus a total put value of  1,280,700,000 Combined total value = 4,002,300,000

Strike  59100  has a total call value of 2,945,700,000  versus a total put value of  1,097,100,000 Combined total value = 4,042,800,000

Strike  59200  has a total call value of 3,181,200,000  versus a total put value of  923,100,000 Combined total value = 4,104,300,000

Strike  59300  has a total call value of 3,429,300,000  versus a total put value of  756,300,000 Combined total value = 4,185,600,000

Strike  59400  has a total call value of 3,687,000,000  versus a total put value of  592,500,000 Combined total value = 4,279,500,000

Strike  59500  has a total call value of 3,957,300,000  versus a total put value of  433,500,000 Combined total value = 4,390,800,000

Strike  59600  has a total call value of 4,311,900,000  versus a total put value of  358,200,000 Combined total value = 4,670,100,000

Strike  59700  has a total call value of 4,674,600,000  versus a total put value of  287,100,000 Combined total value = 4,961,700,000

Strike  59800  has a total call value of 5,047,200,000  versus a total put value of  221,100,000 Combined total value = 5,268,300,000

Strike  59900  has a total call value of 5,432,700,000  versus a total put value of  159,000,000 Combined total value = 5,591,700,000

Strike  60000  has a total call value of 5,828,400,000  versus a total put value of  100,500,000 Combined total value = 5,928,900,000

Strike  60100  has a total call value of 6,266,700,000  versus a total put value of  78,600,000 Combined total value = 6,345,300,000

Strike  60200  has a total call value of 6,712,200,000  versus a total put value of  61,800,000 Combined total value = 6,774,000,000

Strike  60300  has a total call value of 7,164,000,000  versus a total put value of  47,100,000 Combined total value = 7,211,100,000

Strike  60400  has a total call value of 7,624,200,000  versus a total put value of  33,900,000 Combined total value = 7,658,100,000

Strike  60500  has a total call value of 8,094,600,000  versus a total put value of  22,500,000 Combined total value = 8,117,100,000

Strike  60600  has a total call value of 8,577,300,000  versus a total put value of  18,000,000 Combined total value = 8,595,300,000

Strike  60700  has a total call value of 9,067,200,000  versus a total put value of  13,500,000 Combined total value = 9,080,700,000

Strike  60800  has a total call value of 9,567,000,000  versus a total put value of  9,000,000 Combined total value = 9,576,000,000

Strike  60900  has a total call value of 10,074,600,000  versus a total put value of  4,500,000 Combined total value = 10,079,100,000

Strike  61000  has a total call value of 10,590,300,000  versus a total put value of  0 Combined total value = 10,590,300,000

Strike  61100  has a total call value of 11,121,600,000  versus a total put value of  0 Combined total value = 11,121,600,000

Strike  61200  has a total call value of 11,658,300,000  versus a total put value of  0 Combined total value = 11,658,300,000

Strike  61300  has a total call value of 12,202,200,000  versus a total put value of  0 Combined total value = 12,202,200,000

Strike  61400  has a total call value of 12,762,000,000  versus a total put value of  0 Combined total value = 12,762,000,000

Strike  61500  has a total call value of 13,333,500,000  versus a total put value of  0 Combined total value = 13,333,500,000

Strike  61600  has a total call value of 13,928,400,000  versus a total put value of  0 Combined total value = 13,928,400,000

Strike  61700  has a total call value of 14,530,800,000  versus a total put value of  0 Combined total value = 14,530,800,000

Strike  61800  has a total call value of 15,142,200,000  versus a total put value of  0 Combined total value = 15,142,200,000

Strike  61900  has a total call value of 15,762,300,000  versus a total put value of  0 Combined total value = 15,762,300,000

Strike  62000  has a total call value of 16,410,900,000  versus a total put value of  0 Combined total value = 16,410,900,000

Strike  62100  has a total call value of 17,084,100,000  versus a total put value of  0 Combined total value = 17,084,100,000

Strike  62200  has a total call value of 17,769,600,000  versus a total put value of  0 Combined total value = 17,769,600,000

Strike  62300  has a total call value of 18,465,600,000  versus a total put value of  0 Combined total value = 18,465,600,000

Strike  62400  has a total call value of 19,165,800,000  versus a total put value of  0 Combined total value = 19,165,800,000

Strike  62500  has a total call value of 19,868,700,000  versus a total put value of  0 Combined total value = 19,868,700,000

Strike  62600  has a total call value of 20,595,900,000  versus a total put value of  0 Combined total value = 20,595,900,000

Strike  62700  has a total call value of 21,341,400,000  versus a total put value of  0 Combined total value = 21,341,400,000

Strike  62800  has a total call value of 22,086,900,000  versus a total put value of  0 Combined total value = 22,086,900,000

Strike  62900  has a total call value of 22,832,400,000  versus a total put value of  0 Combined total value = 22,832,400,000

Strike  63000  has a total call value of 23,577,900,000  versus a total put value of  0 Combined total value = 23,577,900,000

Strike  63100  has a total call value of 24,324,000,000  versus a total put value of  0 Combined total value = 24,324,000,000

Strike  63200  has a total call value of 25,070,100,000  versus a total put value of  0 Combined total value = 25,070,100,000

Strike  63300  has a total call value of 25,817,700,000  versus a total put value of  0 Combined total value = 25,817,700,000

Strike  63400  has a total call value of 26,567,400,000  versus a total put value of  0 Combined total value = 26,567,400,000

Strike  63500  has a total call value of 27,319,800,000  versus a total put value of  0 Combined total value = 27,319,800,000

Strike  63600  has a total call value of 28,073,100,000  versus a total put value of  0 Combined total value = 28,073,100,000

Max-Pain Table for stock monthly expiry

BANKEX
BANKNIFTY
FINNIFTY
MIDCPNIFTY
NIFTY
NIFTYNXT50
SENSEX
SENSEX50
  Note:- click on symbol to see more detailed view
Max Pain
Symbol Symbol Ltp Max Pain
AARTIIND 379.9 385
ABB 5120.9 5200
ABCAPITAL 185.7 190
ABFRL 252.55 255
ACC 2005 2000
ADANIENSOL 835.6 840
ADANIENT 2305 2400
ADANIGREEN 886.65 920
ADANIPORTS 1155.6 1180
ALKEM 4880 4900
AMBUJACEM 546.6 550
ANGELONE 2260.9 2300
APLAPOLLO 1510.7 1500
APOLLOHOSP 6793.25 6700
APOLLOTYRE 423.85 420
ASHOKLEY 207.34 210
ASIANPAINT 2388.9 2380
ASTRAL 1249.3 1300
ATGL 590.1 600
AUBANK 553.3 550
AUROPHARMA 1087.8 1140
AXISBANK 1066.9 1060
BAJAJ-AUTO 7734.6 7900
BAJAJFINSV 1945.65 1920
BAJFINANCE 8912.8 8800
BALKRISIND 2328.45 2400
BANDHANBNK 149.56 150
BANKBARODA 232.18 235
BANKINDIA 108.01 110
BEL 284.15 285
BERGEPAINT 530.6 520
BHARATFORG 994.6 1020
BHARTIARTL 1754.65 1740
BHEL 213.32 215
BIOCON 316.05 330
BOSCHLTD 26350.05 27000
BPCL 293.9 280
BRITANNIA 5354.25 5200
BSE 5642 5300
BSOFT 355.95 370
CAMS 3680.35 3700
CANBK 90.57 90
CDSL 1167 1200
CESC 152.71 152.5
CGPOWER 568.55 580
CHAMBLFERT 645.3 630
CHOLAFIN 1460.5 1460
CIPLA 1459.35 1460
COALINDIA 389.9 400
COFORGE 6313.3 6600
COLPAL 2482.2 2440
CONCOR 687 700
CROMPTON 334.6 340
CUMMINSIND 2840.9 2900
CYIENT 1139.35 1200
DABUR 461.05 470
DALBHARAT 1801.8 1800
DEEPAKNTR 1900 1900
DELHIVERY 243.55 250
DIVISLAB 5566.5 5600
DIXON 14199 14000
DLF 622.3 650
DMART 4118.75 4050
DRREDDY 1122.95 1120
EICHERMOT 5359 5300
ESCORTS 3167.3 3200
ETERNAL 215.45 210
EXIDEIND 367.1 365
FEDERALBNK 190.01 192.5
GAIL 171.65 180
GLENMARK 1370 1420
GMRAIRPORT 85.74 82
GODREJCP 1221.5 1200
GODREJPROP 1943.3 2000
GOLDM 92927 90500
GRANULES 448.75 470
GRASIM 2645.9 2600
HAL 4103 4200
HAVELLS 1520.55 1500
HCLTECH 1390 1460
HDFCAMC 3978.05 3950
HDFCBANK 1810.15 1800
HDFCLIFE 684.9 685
HEROMOTOCO 3667.9 3700
HFCL 75.59 80
HINDALCO 600.05 610
HINDCOPPER 198.98 210
HINDPETRO 379.55 370
HINDUNILVR 2357.8 2300
HINDZINC 411.45 420
HUDCO 214.36 205
ICICIBANK 1316.25 1320
ICICIGI 1736.9 1780
ICICIPRULI 552.95 560
IDEA 7.13 8
IDFCFIRSTB 59.82 59
IEX 178.38 180
IGL 174.2 180
IIFL 319.25 330
INDHOTEL 785.8 800
INDIANB 531.9 540
INDIGO 5146.95 5100
INDUSINDBK 680.95 700
INDUSTOWER 372.5 360
INFY 1399.8 1500
INOXWIND 148.93 150
IOC 131.49 130
IRB 45 45
IRCTC 727.7 730
IREDA 153.52 150
IRFC 123.97 125
ITC 419.8 410
JINDALSTEL 805.85 860
JIOFIN 228.2 230
JSL 534.6 560
JSWENERGY 491 500
JSWSTEEL 987.2 1000
JUBLFOOD 684.65 680
KALYANKJIL 513.2 500
KEI 2601.3 2650
KOTAKBANK 2112.5 2100
KPITTECH 1111.2 1140
LAURUSLABS 601.85 590
LICHSGFIN 560.55 560
LICI 771.05 800
LODHA 1125.25 1140
LT 3101.6 3260
LTF 155.1 155
LTIM 4221.95 4300
LUPIN 1974.9 2000
M&M 2571.15 2650
M&MFIN 262 270
MANAPPURAM 225.19 230
MARICO 707.3 690
MARUTI 11581.45 11500
MAXHEALTH 1087.7 1100
MCX 5403 5300
MFSL 1159 1160
MGL 1271.2 1340
MOTHERSON 117.8 120
MPHASIS 2154.2 2200
MRF 116343.7 115000
MUTHOOTFIN 2010 2100
NATIONALUM 143.82 160
NAUKRI 6495.4 6600
NBCC 86.45 85
NCC 208.98 210
NESTLEIND 2356.05 2280
NHPC 84.48 84
NMDC 62.79 65
NTPC 358.4 355
NYKAA 177.65 175
OBEROIRLTY 1545.95 1560
OFSS 7522.05 7600
OIL 358.4 370
ONGC 229.7 235
PAGEIND 43768.9 42500
PATANJALI 1882.85 1820
PAYTM 835.45 800
PEL 960.85 980
PERSISTENT 4503.85 4700
PETRONET 283.7 290
PFC 401.25 410
PHOENIXLTD 1475.1 1550
PIDILITIND 2950.9 2900
PIIND 3590.75 3500
PNB 96.09 97
PNBHOUSING 968.65 940
POLICYBZR 1524.2 1540
POLYCAB 5066.8 5000
POONAWALLA 362.5 345
POWERGRID 301.8 297.5
PRESTIGE 1117.75 1140
RAMCOCEM 935.05 930
RBLBANK 172.5 175
RECLTD 401.95 420
RELIANCE 1214.25 1250
SAIL 107.83 112.5
SBICARD 849.85 850
SBILIFE 1523.8 1520
SBIN 752.55 770
SHREECEM 30115.3 30000
SHRIRAMFIN 637.15 640
SIEMENS 2717.55 2800
SILVER 92700 94000
SJVN 91.02 92
SOLARINDS 11278.9 11000
SONACOMS 427.5 430
SRF 2943.6 2850
SUNPHARMA 1689.65 1720
SUPREMEIND 3151.2 3300
SYNGENE 701.3 710
TATACHEM 829.9 850
TATACOMM 1585.2 1600
TATACONSUM 1097.5 1060
TATAELXSI 4720.35 4950
TATAMOTORS 593.3 620
TATAPOWER 364.3 385
TATASTEEL 132.78 137.5
TATATECH 623.7 630
TCS 3215.6 3300
TECHM 1276.15 1340
TIINDIA 2502.25 2600
TITAGARH 746.65 760
TITAN 3227.8 3150
TORNTPHARM 3134.9 3200
TORNTPOWER 1553.9 1500
TRENT 4761.55 5000
TVSMOTOR 2508.35 2460
ULTRACEMCO 11467.75 11400
UNIONBANK 117.77 120
UNITDSPR 1470 1440
UPL 636.5 640
VBL 544.6 540
VEDL 379.55 410
VOLTAS 1280.45 1320
WIPRO 239.1 250
YESBANK 17.17 17
ZOMATO 0 80
ZYDUSLIFE 868.15 880

Note:
Stock LTP > Max Pain Bearish Trend
Stock LTP < Max Pain Bullish Trend

What is Max Pain?
Max pain, or the max pain price, is the strike price with the most open contract puts and calls - and the price at which the stock would cause financial losses for the largest number of option holders at expiration.
Calculating Max Pain
Max pain is a simple but time consuming calculation. Essentially, it is the sum of the outstanding put and call dollar value of each in-the-money strike price. For each in-the-money strike price for both puts and calls:
  1. Find the difference between stock price and strike price
  2. Multiply the result by open interest at that strike
  3. Add together the dollar value for the put and call at that strike
  4. Repeat for each strike price
  5. Find the highest value strike price. This price is equivalent to max pain price.

How can a trader benefit?
As the option expiration approaches, option writers will try to buy or sell shares of stock to drive the price toward a closing price that is profitable for them, or at least to hedge their payouts to option holders. Call writers sell shares to drive share price down and Put holders buy shares to drive share price up. The max pain strike price exists somewhere in the middle.