How is Max Pain Calculated?

Max Pain is calculated by determining the total dollar value of in-the-money options at each strike price. For each strike price: Calculate the difference between the current stock price and the strike price. Multiply this difference by the open interest (number of contracts) at that strike for both call and put options. Sum the values: Add together the dollar value for put options and call options at each strike price. Repeat for all strikes: Perform this calculation for every available strike price in the option chain. 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.

How Can Traders Use Max Pain in Their Strategy?

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.

What Does Max Pain Indicate About Stock Price Movement?

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.

How Often Does Max Pain Change?

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.

What's the Difference Between Max Pain and Spot Price?

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.

Is Max Pain Always Accurate for Predicting Stock Price?

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.

When is Max Pain Most Relevant for Options Trading?

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.

BPCL

Q: What is Max Pain in Options Trading?

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.

Bharat Petroleum Corp Lt

362.45 -5.90 (-1.60%)

L: 361.5 H: 369.2

Max Pain - BPCL

18 Dec 2025 02:26 PM IST

Live

Expiry

Max Pain for BPCL is 365

Historical data for BPCL-365-CE

LTP (365 CE)

5.05 -3.45

Open Interest

660 133

Historical data for BPCL-365-PE

LTP (365 PE)

6.85 1.95

Open Interest

245 -21

Strike 292.5 has a total call value of 0 versus a total put value of 60,591,025,000 Combined total value = 60,591,025,000

Strike 295 has a total call value of 25,181,250 versus a total put value of 57,916,381,250 Combined total value = 57,941,562,500

Strike 300 has a total call value of 75,543,750 versus a total put value of 52,567,093,750 Combined total value = 52,642,637,500

Strike 302.5 has a total call value of 102,700,000 versus a total put value of 49,895,412,500 Combined total value = 49,998,112,500

Strike 305 has a total call value of 152,568,750 versus a total put value of 47,228,668,750 Combined total value = 47,381,237,500

Strike 310 has a total call value of 252,306,250 versus a total put value of 41,895,181,250 Combined total value = 42,147,487,500

Strike 312.5 has a total call value of 303,162,500 versus a total put value of 39,230,906,250 Combined total value = 39,534,068,750

Strike 315 has a total call value of 356,981,250 versus a total put value of 36,566,631,250 Combined total value = 36,923,612,500

Strike 317.5 has a total call value of 410,800,000 versus a total put value of 33,902,356,250 Combined total value = 34,313,156,250

Strike 320 has a total call value of 464,618,750 versus a total put value of 31,238,081,250 Combined total value = 31,702,700,000

Strike 322.5 has a total call value of 531,275,000 versus a total put value of 28,881,412,500 Combined total value = 29,412,687,500

Strike 325 has a total call value of 599,906,250 versus a total put value of 26,571,650,000 Combined total value = 27,171,556,250

Strike 327.5 has a total call value of 668,537,500 versus a total put value of 24,295,462,500 Combined total value = 24,964,000,000

Strike 330 has a total call value of 737,168,750 versus a total put value of 22,033,593,750 Combined total value = 22,770,762,500

Strike 332.5 has a total call value of 829,006,250 versus a total put value of 19,902,568,750 Combined total value = 20,731,575,000

Strike 335 has a total call value of 931,212,500 versus a total put value of 17,811,043,750 Combined total value = 18,742,256,250

Strike 337.5 has a total call value of 1,039,837,500 versus a total put value of 15,798,518,750 Combined total value = 16,838,356,250

Strike 340 has a total call value of 1,151,425,000 versus a total put value of 13,895,606,250 Combined total value = 15,047,031,250

Strike 342.5 has a total call value of 1,289,181,250 versus a total put value of 12,198,587,500 Combined total value = 13,487,768,750

Strike 345 has a total call value of 1,436,812,500 versus a total put value of 10,539,093,750 Combined total value = 11,975,906,250

Strike 347.5 has a total call value of 1,593,825,000 versus a total put value of 9,001,556,250 Combined total value = 10,595,381,250

Strike 350 has a total call value of 1,750,837,500 versus a total put value of 7,525,243,750 Combined total value = 9,276,081,250

Strike 352.5 has a total call value of 1,953,768,750 versus a total put value of 6,262,231,250 Combined total value = 8,216,000,000

Strike 355 has a total call value of 2,169,043,750 versus a total put value of 5,098,956,250 Combined total value = 7,268,000,000

Strike 357.5 has a total call value of 2,429,743,750 versus a total put value of 4,087,262,500 Combined total value = 6,517,006,250

Strike 360 has a total call value of 2,710,687,500 versus a total put value of 3,158,025,000 Combined total value = 5,868,712,500

Strike 362.5 has a total call value of 3,188,143,750 versus a total put value of 2,421,843,750 Combined total value = 5,609,987,500

Strike 365 has a total call value of 3,754,968,750 versus a total put value of 1,794,781,250 Combined total value = 5,549,750,000

Strike 367.5 has a total call value of 4,647,668,750 versus a total put value of 1,288,687,500 Combined total value = 5,936,356,250

Strike 370 has a total call value of 5,713,675,000 versus a total put value of 849,250,000 Combined total value = 6,562,925,000

Strike 372.5 has a total call value of 7,844,700,000 versus a total put value of 641,381,250 Combined total value = 8,486,081,250

Strike 375 has a total call value of 10,086,818,750 versus a total put value of 467,581,250 Combined total value = 10,554,400,000

Strike 377.5 has a total call value of 12,643,950,000 versus a total put value of 316,987,500 Combined total value = 12,960,937,500

Strike 380 has a total call value of 15,259,343,750 versus a total put value of 166,393,750 Combined total value = 15,425,737,500

Strike 382.5 has a total call value of 18,403,050,000 versus a total put value of 145,656,250 Combined total value = 18,548,706,250

Strike 385 has a total call value of 21,628,718,750 versus a total put value of 124,918,750 Combined total value = 21,753,637,500

Strike 387.5 has a total call value of 25,149,650,000 versus a total put value of 104,181,250 Combined total value = 25,253,831,250

Strike 390 has a total call value of 28,776,243,750 versus a total put value of 83,443,750 Combined total value = 28,859,687,500

Strike 392.5 has a total call value of 32,637,368,750 versus a total put value of 67,643,750 Combined total value = 32,705,012,500

Strike 395 has a total call value of 36,532,562,500 versus a total put value of 55,300,000 Combined total value = 36,587,862,500

Strike 397.5 has a total call value of 40,513,175,000 versus a total put value of 43,450,000 Combined total value = 40,556,625,000

Strike 400 has a total call value of 44,511,562,500 versus a total put value of 31,600,000 Combined total value = 44,543,162,500

Strike 402.5 has a total call value of 48,760,775,000 versus a total put value of 25,181,250 Combined total value = 48,785,956,250

Strike 405 has a total call value of 53,028,750,000 versus a total put value of 18,762,500 Combined total value = 53,047,512,500

Strike 410 has a total call value of 61,633,825,000 versus a total put value of 5,925,000 Combined total value = 61,639,750,000

Strike 412.5 has a total call value of 66,059,306,250 versus a total put value of 4,443,750 Combined total value = 66,063,750,000

Strike 415 has a total call value of 70,552,431,250 versus a total put value of 2,962,500 Combined total value = 70,555,393,750

Strike 420 has a total call value of 79,538,681,250 versus a total put value of 0 Combined total value = 79,538,681,250

Strike 425 has a total call value of 88,816,243,750 versus a total put value of 0 Combined total value = 88,816,243,750

Strike 430 has a total call value of 98,093,806,250 versus a total put value of 0 Combined total value = 98,093,806,250

Max-Pain Table for Stocks

Max-Pain Table Expiry

Note:- click on symbol to see more detailed view

Max Pain Table (Stocks)
Symbol	Symbol Ltp	Max Pain
360ONE	1144.5	1140
ABB	5082	5200
ABCAPITAL	344.7	350
ADANIENSOL	976.25	990
ADANIENT	2227.5	2300
ADANIGREEN	1009.5	1020
ADANIPORTS	1487.6	1500
ALKEM	5535.5	5650
AMBER	6568	6800
AMBUJACEM	535.65	550
ANGELONE	2478.2	2550
APLAPOLLO	1789	1760
APOLLOHOSP	6899.5	7100
ASHOKLEY	171.53	162
ASIANPAINT	2762	2800
ASTRAL	1408.7	1440
AUBANK	988.1	960
AUROPHARMA	1205.2	1200
AXISBANK	1229.5	1240
BAJAJ-AUTO	8796.5	9000
BAJAJFINSV	2023.3	2060
BAJFINANCE	1000.6	1020
BANDHANBNK	145.95	150
BANKBARODA	288.35	290
BANKINDIA	142.05	143
BDL	1337.1	1380
BEL	382.8	400
BHARATFORG	1401.3	1400
BHARTIARTL	2094.6	2100
BHEL	273.55	280
BIOCON	391.3	390
BLUESTARCO	1855	1800
BOSCHLTD	35635	36000
BPCL	362.45	365
BRITANNIA	6024	6000
BSE	2677.8	2700
CAMS	746.9	770
CANBK	149.4	150
CDSL	1481.7	1540
CGPOWER	659.95	680
CHOLAFIN	1675	1700
CIPLA	1498.9	1520
COALINDIA	385.45	384.75
COFORGE	1845.7	1840
COLPAL	2088.9	2160
CONCOR	497.35	520
CROMPTON	255.7	265
CUMMINSIND	4373.6	4400
CYIENT	1134.7	1140
DABUR	491.15	500
DALBHARAT	2025.4	2040
DELHIVERY	400.45	410
DIVISLAB	6375.5	6400
DIXON	13230	13750
DLF	681.2	710
DMART	3756.5	3900
DRREDDY	1276.7	1270
EICHERMOT	7082.5	7100
ETERNAL	283.95	295
EXIDEIND	358.15	370
FEDERALBNK	264.8	260
FORTIS	866.4	890
GAIL	167.58	175
GLENMARK	1950.6	1940
GMRAIRPORT	100.11	102
GODREJCP	1181.3	1160
GODREJPROP	1998.6	2060
GRASIM	2807.6	2800
HAL	4237.7	4450
HAVELLS	1399.5	1440
HCLTECH	1658.6	1660
HDFCAMC	2718.5	2680
HDFCBANK	982.2	990
HDFCLIFE	755.55	770
HEROMOTOCO	5739.5	5900
HFCL	64.29	67
HINDALCO	855.95	820
HINDPETRO	463.4	460
HINDUNILVR	2262	2300
HINDZINC	590.3	560
HUDCO	206.2	220
ICICIBANK	1359.6	1370
ICICIGI	1949.5	1960
ICICIPRULI	644.65	630
IDEA	11.29	11
IDFCFIRSTB	83.6	82
IEX	139.8	145
IIFL	558.35	560
INDHOTEL	719.15	730
INDIANB	775.25	820
INDIGO	5115.5	5100
INDUSINDBK	832.5	850
INDUSTOWER	408.15	410
INFY	1623.8	1600
INOXWIND	124.56	130
IOC	161.69	162
IRCTC	662.8	685
IREDA	131.09	137.5
IRFC	110.7	115
ITC	400.7	405
JINDALSTEL	981.6	1020
JIOFIN	291.5	305
JSWENERGY	468.75	490
JSWSTEEL	1081.4	1120
JUBLFOOD	555.75	580
KALYANKJIL	470.2	480
KAYNES	4062	4300
KEI	4080	4100
KFINTECH	1063.3	1060
KOTAKBANK	2163.6	2160
KPITTECH	1152.7	1200
LAURUSLABS	1012.7	1000
LICHSGFIN	526.75	550
LICI	842.45	870
LODHA	1068.2	1100
LT	4038	4040
LTF	299.65	302.5
LTIM	6193.5	6200
LUPIN	2112.6	2100
M&M	3571.3	3650
MANAPPURAM	288.1	280
MANKIND	2130.7	2200
MARICO	741.25	740
MARUTI	16362	16200
MAXHEALTH	1049.9	1100
MAZDOCK	2348.3	2500
MCX	10157	10100
MFSL	1679	1700
MOTHERSON	117.32	115
MPHASIS	2877.1	2900
MUTHOOTFIN	3744.6	3750
NATIONALUM	279.65	270
NAUKRI	1339.4	1360
NBCC	108.12	111
NCC	153.47	165
NESTLEIND	1239.9	1240
NHPC	74.8	78
NMDC	76.48	77
NTPC	317.75	325
NUVAMA	7263.5	7300
NYKAA	243.55	252.5
OBEROIRLTY	1655	1660
OFSS	7616.5	8000
OIL	399.25	410
ONGC	231.93	237.5
PAGEIND	35665	37000
PATANJALI	552.8	550
PAYTM	1284.8	1300
PERSISTENT	6296	6300
PETRONET	268.2	278
PFC	333.9	355
PGEL	565.35	560
PHOENIXLTD	1791	1760
PIDILITIND	1446.7	1480
PIIND	3208	3350
PNB	118.65	120
PNBHOUSING	894.9	900
POLICYBZR	1832.1	1840
POLYCAB	7080.5	7200
POWERGRID	257.15	270
POWERINDIA	18255	19000
PPLPHARMA	166.16	175
PRESTIGE	1596.4	1640
RBLBANK	298.25	305
RECLTD	337.4	350
RELIANCE	1544.9	1540
RVNL	304.8	310
SAIL	127.4	132
SAMMAANCAP	145.35	155
SBICARD	846.8	870
SBILIFE	2013.5	2020
SBIN	976.65	970
SHREECEM	25645	26500
SHRIRAMFIN	865.85	850
SIEMENS	3066	3150
SOLARINDS	11740	12500
SONACOMS	485.9	500
SRF	3048.3	3000
SUNPHARMA	1744.6	1760
SUPREMEIND	3344.8	3400
SUZLON	51.55	54
SYNGENE	653.55	650
TATACONSUM	1174.1	1180
TATAELXSI	4967.5	5000
TATAMOTORS	0	320
TATAPOWER	373.95	390
TATASTEEL	168.35	170
TATATECH	640.65	670
TCS	3271.9	3220
TECHM	1595.5	1560
TIINDIA	2574.1	2700
TITAGARH	769.45	800
TITAN	3902	3860
TMPV	344.75	360
TORNTPHARM	3738.4	3750
TORNTPOWER	1251.6	1300
TRENT	4012.3	4200
TVSMOTOR	3584.2	3600
ULTRACEMCO	11436	11600
UNIONBANK	154.13	155
UNITDSPR	1392	1440
UNOMINDA	1223.2	1280
UPL	742.9	750
VBL	471.5	470
VEDL	578.8	555
VOLTAS	1402.5	1400
WIPRO	262.09	257.5
YESBANK	21.41	22
ZYDUSLIFE	912.2	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:

For each strike price: Calculate the difference between the current stock price and the strike price.
Multiply by Open Interest: Multiply this difference by the open interest (number of contracts) at that strike for both call and put options.
Sum the values: Add together the dollar value for put options and call options at each strike price.
Repeat for all strikes: Perform this calculation for every available strike price in the option chain.
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.

Related Pages for BPCL

BPCL

360ONE

ABB

ABCAPITAL

ADANIENSOL

ADANIENT

ADANIGREEN

ADANIPORTS

ALKEM

AMBER

AMBUJACEM

ANGELONE

APLAPOLLO

APOLLOHOSP

ASHOKLEY

ASIANPAINT

ASTRAL

AUBANK

AUROPHARMA

AXISBANK

BAJAJ-AUTO

BAJAJFINSV

BAJFINANCE

BANDHANBNK

BANKBARODA

BANKEX

BANKINDIA

BANKNIFTY

BDL

BEL

BHARATFORG

BHARTIARTL

BHEL

BIOCON

BLUESTARCO

BOSCHLTD

BPCL

BRITANNIA

BSE

CAMS

CANBK

CDSL

CGPOWER

CHOLAFIN

CIPLA

COALINDIA

COFORGE

COLPAL

CONCOR

COPPER

CROMPTON

CRUDEOIL

CRUDEOILM

CUMMINSIND

CYIENT

DABUR

DALBHARAT

DELHIVERY

DIVISLAB

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