CIPLA

Cipla Ltd

1518.3 -2.70 (-0.18%)

L: 1513.6 H: 1528

Max Pain - CIPLA

05 Dec 2025 02:55 PM IST

Live

Expiry

Max Pain for CIPLA is 1530

Historical data for CIPLA-1530-CE

LTP (1530 CE)

21.6 -2.75

Open Interest

1188 111

Historical data for CIPLA-1530-PE

LTP (1530 PE)

23.4 -0.3

Open Interest

567 2

Strike 1280 has a total call value of 0 versus a total put value of 70,469,625,000 Combined total value = 70,469,625,000

Strike 1290 has a total call value of 0 versus a total put value of 66,628,875,000 Combined total value = 66,628,875,000

Strike 1300 has a total call value of 0 versus a total put value of 62,788,125,000 Combined total value = 62,788,125,000

Strike 1310 has a total call value of 0 versus a total put value of 58,947,375,000 Combined total value = 58,947,375,000

Strike 1320 has a total call value of 0 versus a total put value of 55,106,625,000 Combined total value = 55,106,625,000

Strike 1330 has a total call value of 0 versus a total put value of 51,265,875,000 Combined total value = 51,265,875,000

Strike 1340 has a total call value of 0 versus a total put value of 47,425,125,000 Combined total value = 47,425,125,000

Strike 1350 has a total call value of 0 versus a total put value of 43,602,000,000 Combined total value = 43,602,000,000

Strike 1360 has a total call value of 0 versus a total put value of 39,778,875,000 Combined total value = 39,778,875,000

Strike 1370 has a total call value of 0 versus a total put value of 36,016,875,000 Combined total value = 36,016,875,000

Strike 1380 has a total call value of 0 versus a total put value of 32,254,875,000 Combined total value = 32,254,875,000

Strike 1390 has a total call value of 0 versus a total put value of 28,846,125,000 Combined total value = 28,846,125,000

Strike 1400 has a total call value of 0 versus a total put value of 25,437,375,000 Combined total value = 25,437,375,000

Strike 1410 has a total call value of 7,500,000 versus a total put value of 22,334,250,000 Combined total value = 22,341,750,000

Strike 1420 has a total call value of 15,000,000 versus a total put value of 19,796,625,000 Combined total value = 19,811,625,000

Strike 1430 has a total call value of 22,500,000 versus a total put value of 17,335,875,000 Combined total value = 17,358,375,000

Strike 1440 has a total call value of 30,000,000 versus a total put value of 15,071,625,000 Combined total value = 15,101,625,000

Strike 1450 has a total call value of 37,500,000 versus a total put value of 12,896,250,000 Combined total value = 12,933,750,000

Strike 1460 has a total call value of 45,000,000 versus a total put value of 10,841,250,000 Combined total value = 10,886,250,000

Strike 1470 has a total call value of 52,500,000 versus a total put value of 8,974,500,000 Combined total value = 9,027,000,000

Strike 1480 has a total call value of 60,000,000 versus a total put value of 7,336,500,000 Combined total value = 7,396,500,000

Strike 1490 has a total call value of 67,500,000 versus a total put value of 5,788,500,000 Combined total value = 5,856,000,000

Strike 1500 has a total call value of 75,000,000 versus a total put value of 4,287,750,000 Combined total value = 4,362,750,000

Strike 1510 has a total call value of 305,250,000 versus a total put value of 3,119,625,000 Combined total value = 3,424,875,000

Strike 1520 has a total call value of 646,875,000 versus a total put value of 2,111,625,000 Combined total value = 2,758,500,000

Strike 1530 has a total call value of 1,360,500,000 versus a total put value of 1,355,250,000 Combined total value = 2,715,750,000

Strike 1540 has a total call value of 2,519,625,000 versus a total put value of 811,500,000 Combined total value = 3,331,125,000

Strike 1550 has a total call value of 4,173,000,000 versus a total put value of 444,000,000 Combined total value = 4,617,000,000

Strike 1560 has a total call value of 6,107,625,000 versus a total put value of 319,500,000 Combined total value = 6,427,125,000

Strike 1570 has a total call value of 8,434,875,000 versus a total put value of 239,625,000 Combined total value = 8,674,500,000

Strike 1580 has a total call value of 10,850,625,000 versus a total put value of 159,750,000 Combined total value = 11,010,375,000

Strike 1590 has a total call value of 13,383,750,000 versus a total put value of 79,875,000 Combined total value = 13,463,625,000

Strike 1600 has a total call value of 15,986,625,000 versus a total put value of 0 Combined total value = 15,986,625,000

Strike 1610 has a total call value of 19,489,500,000 versus a total put value of 0 Combined total value = 19,489,500,000

Strike 1620 has a total call value of 23,048,250,000 versus a total put value of 0 Combined total value = 23,048,250,000

Strike 1630 has a total call value of 26,724,000,000 versus a total put value of 0 Combined total value = 26,724,000,000

Strike 1640 has a total call value of 30,475,125,000 versus a total put value of 0 Combined total value = 30,475,125,000

Strike 1650 has a total call value of 34,290,375,000 versus a total put value of 0 Combined total value = 34,290,375,000

Strike 1660 has a total call value of 38,274,375,000 versus a total put value of 0 Combined total value = 38,274,375,000

Strike 1670 has a total call value of 43,200,375,000 versus a total put value of 0 Combined total value = 43,200,375,000

Strike 1680 has a total call value of 48,126,375,000 versus a total put value of 0 Combined total value = 48,126,375,000

Strike 1690 has a total call value of 53,068,125,000 versus a total put value of 0 Combined total value = 53,068,125,000

Strike 1700 has a total call value of 58,032,000,000 versus a total put value of 0 Combined total value = 58,032,000,000

Strike 1710 has a total call value of 63,147,750,000 versus a total put value of 0 Combined total value = 63,147,750,000

Strike 1720 has a total call value of 68,263,500,000 versus a total put value of 0 Combined total value = 68,263,500,000

Strike 1730 has a total call value of 73,407,750,000 versus a total put value of 0 Combined total value = 73,407,750,000

Strike 1740 has a total call value of 78,552,000,000 versus a total put value of 0 Combined total value = 78,552,000,000

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	1142.9	1140
ABB	5156	5150
ABCAPITAL	357.5	350
ADANIENSOL	973.65	980
ADANIENT	2255.4	2300
ADANIGREEN	1011.2	1020
ADANIPORTS	1507	1500
ALKEM	5662.5	5700
AMBER	6482	6500
AMBUJACEM	532.85	550
ANGELONE	2635	2650
APLAPOLLO	1766.5	1760
APOLLOHOSP	7169.5	7350
ASHOKLEY	160.25	157
ASIANPAINT	2959.9	2920
ASTRAL	1458.5	1460
AUBANK	957.7	940
AUROPHARMA	1214.9	1220
AXISBANK	1280.1	1280
BAJAJ-AUTO	9096	9100
BAJAJFINSV	2096.2	2080
BAJFINANCE	1049	1030
BANDHANBNK	140	150
BANKBARODA	292.8	292.5
BANKINDIA	142.9	145
BDL	1504.4	1520
BEL	405.75	410
BHARATFORG	1402.2	1400
BHARTIARTL	2101.4	2100
BHEL	276.55	285
BIOCON	391.1	400
BLUESTARCO	1723.9	1760
BOSCHLTD	36865	36500
BPCL	359.7	362.5
BRITANNIA	5947	5850
BSE	2809	2800
CAMS	771.4	780
CANBK	148.73	150
CDSL	1542.8	1600
CGPOWER	658.75	680
CHOLAFIN	1724.2	1700
CIPLA	1518.3	1530
COALINDIA	378.9	380
COFORGE	1971.4	1860
COLPAL	2160.4	2180
CONCOR	510.8	520
CROMPTON	259.9	270
CUMMINSIND	4461	4500
CYIENT	1167.1	1160
DABUR	508.3	515
DALBHARAT	1982.7	2000
DELHIVERY	404.1	420
DIVISLAB	6447	6450
DIXON	13715	14500
DLF	716	730
DMART	3937	4000
DRREDDY	1273.4	1270
EICHERMOT	7194	7100
ETERNAL	292.85	305
EXIDEIND	378.95	380
FEDERALBNK	258.85	255
FORTIS	883.5	910
GAIL	169.89	175
GLENMARK	1963.1	1940
GMRAIRPORT	103.48	102
GODREJCP	1129.6	1140
GODREJPROP	2074.5	2100
GRASIM	2739.8	2760
HAL	4437.6	4500
HAVELLS	1434	1440
HCLTECH	1680.6	1640
HDFCAMC	2567.8	2650
HDFCBANK	1001.3	1000
HDFCLIFE	767.5	770
HEROMOTOCO	6349	6200
HFCL	68.52	70
HINDALCO	823	800
HINDPETRO	449.9	455
HINDUNILVR	2341.3	2360
HINDZINC	496.8	490
HUDCO	224.38	230
ICICIBANK	1390.9	1380
ICICIGI	1974.4	2000
ICICIPRULI	623.8	620
IDEA	10.74	10
IDFCFIRSTB	80.83	80
IEX	144.75	145
IIFL	566.7	570
INDHOTEL	729.3	740
INDIANB	810.3	830
INDIGO	5376.5	5500
INDUSINDBK	869.25	860
INDUSTOWER	414.3	410
INFY	1614.5	1600
INOXWIND	129.54	137.5
IOC	163.2	164
IRCTC	672.7	690
IREDA	132.2	140
IRFC	113.97	117
ITC	404.5	405
JINDALSTEL	1003.5	1030
JIOFIN	302.7	305
JSWENERGY	455.15	480
JSWSTEEL	1158.5	1150
JUBLFOOD	591.05	600
KALYANKJIL	490.4	490
KAYNES	4391	5000
KEI	4152.4	4150
KFINTECH	1061.7	1080
KOTAKBANK	2152.9	2120
KPITTECH	1268	1240
LAURUSLABS	1022.2	1000
LICHSGFIN	539.3	550
LICI	868	900
LODHA	1107.1	1140
LT	4031.3	4020
LTF	308.8	305
LTIM	6275	6200
LUPIN	2091.4	2080
M&M	3712.7	3700
MANAPPURAM	278.1	280
MANKIND	2197.5	2250
MARICO	733.85	730
MARUTI	16203	16100
MAXHEALTH	1094	1120
MAZDOCK	2605	2700
MCX	10321	10100
MFSL	1683.7	1700
MOTHERSON	116.75	115
MPHASIS	2947	2900
MUTHOOTFIN	3783.3	3700
NATIONALUM	272.95	265
NAUKRI	1383.6	1380
NBCC	111.74	115
NCC	167.5	172.5
NESTLEIND	1241.5	1260
NHPC	76.88	78
NMDC	76.25	76
NTPC	322.6	325
NUVAMA	7145.5	7200
NYKAA	253.2	260
OBEROIRLTY	1646.2	1660
OFSS	8202.5	8200
OIL	410.35	415
ONGC	241.65	244
PAGEIND	37400	38000
PATANJALI	547.5	550
PAYTM	1337.2	1320
PERSISTENT	6505.5	6400
PETRONET	274.15	280
PFC	351.75	365
PGEL	548.95	570
PHOENIXLTD	1718	1740
PIDILITIND	1472	1480
PIIND	3383.2	3450
PNB	121.47	122
PNBHOUSING	900.05	900
POLICYBZR	1888.9	1860
POLYCAB	7219.5	7400
POWERGRID	269.4	275
POWERINDIA	19260	20500
PPLPHARMA	179.6	185
PRESTIGE	1676.7	1680
RBLBANK	305.7	310
RECLTD	352.3	360
RELIANCE	1536.4	1540
RVNL	309.35	315
SAIL	132.39	135
SAMMAANCAP	147.49	160
SBICARD	882.2	880
SBILIFE	2025.1	2020
SBIN	972.65	970
SHREECEM	26055	26500
SHRIRAMFIN	852.7	840
SIEMENS	3312	3300
SOLARINDS	12731	13250
SONACOMS	491	500
SRF	2874	2900
SUNPHARMA	1802	1800
SUPREMEIND	3360	3450
SUZLON	51.12	54
SYNGENE	636.75	640
TATACONSUM	1161.5	1170
TATAELXSI	5207	5300
TATAMOTORS	0	320
TATAPOWER	383.2	390
TATASTEEL	166.8	170
TATATECH	664.55	680
TCS	3238.2	3200
TECHM	1570	1520
TIINDIA	2662.9	2800
TITAGARH	786.3	820
TITAN	3815.5	3860
TMPV	353.5	360
TORNTPHARM	3780.6	3750
TORNTPOWER	1278	1300
TRENT	4172.9	4300
TVSMOTOR	3650.7	3600
ULTRACEMCO	11593	11700
UNIONBANK	152.95	155
UNITDSPR	1450.5	1450
UNOMINDA	1265.2	1300
UPL	756.3	760
VBL	478.2	470
VEDL	524.9	520
VOLTAS	1321	1360
WIPRO	259.4	255
YESBANK	22.55	23
ZYDUSLIFE	929.55	940

Note:

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

Frequently Asked Questions

Max Pain, also known as the max pain price, is the strike price at which the maximum number of option contracts (both puts and calls) would expire worthless, causing the largest financial losses for option holders at expiration. This price point represents the level where option writers would experience the least payout obligation.

The max pain theory suggests that as expiration approaches, market makers and option writers may attempt to influence the stock price toward this level to minimize their payout obligations, making it a significant reference point for traders analyzing option expiration dynamics.

Max Pain is calculated by determining the total dollar value of in-the-money options at each strike price. Here's the step-by-step process:

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 CIPLA

CIPLA

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

DIXON

DLF

DMART

DRREDDY

EICHERMOT

ETERNAL

EURINR

EURUSD

EXIDEIND

FEDERALBNK

FINNIFTY

FORTIS

GAIL

GBPINR

GBPUSD

GLENMARK

GMRAIRPORT

GODREJCP

GODREJPROP

GOLD