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COFORGE

Coforge Limited
1844.2 -0.50 (-0.03%)
L: 1828 H: 1870.2
Max Pain - COFORGE
18 Dec 2025 12:55 PM IST
Live


Strike  1480  has a total call value of 0  versus a total put value of  112,036,500,000 Combined total value = 112,036,500,000

Strike  1500  has a total call value of 3,000,000  versus a total put value of  105,451,500,000 Combined total value = 105,454,500,000

Strike  1520  has a total call value of 6,000,000  versus a total put value of  98,866,500,000 Combined total value = 98,872,500,000

Strike  1540  has a total call value of 12,000,000  versus a total put value of  92,289,000,000 Combined total value = 92,301,000,000

Strike  1560  has a total call value of 18,000,000  versus a total put value of  85,711,500,000 Combined total value = 85,729,500,000

Strike  1580  has a total call value of 24,000,000  versus a total put value of  79,160,250,000 Combined total value = 79,184,250,000

Strike  1600  has a total call value of 30,000,000  versus a total put value of  72,637,500,000 Combined total value = 72,667,500,000

Strike  1620  has a total call value of 42,000,000  versus a total put value of  66,297,750,000 Combined total value = 66,339,750,000

Strike  1640  has a total call value of 57,750,000  versus a total put value of  59,977,500,000 Combined total value = 60,035,250,000

Strike  1660  has a total call value of 78,000,000  versus a total put value of  53,838,000,000 Combined total value = 53,916,000,000

Strike  1680  has a total call value of 99,750,000  versus a total put value of  47,807,250,000 Combined total value = 47,907,000,000

Strike  1700  has a total call value of 121,500,000  versus a total put value of  41,895,000,000 Combined total value = 42,016,500,000

Strike  1720  has a total call value of 177,750,000  versus a total put value of  36,504,000,000 Combined total value = 36,681,750,000

Strike  1740  has a total call value of 237,000,000  versus a total put value of  31,378,500,000 Combined total value = 31,615,500,000

Strike  1760  has a total call value of 312,000,000  versus a total put value of  26,535,000,000 Combined total value = 26,847,000,000

Strike  1780  has a total call value of 432,000,000  versus a total put value of  21,947,250,000 Combined total value = 22,379,250,000

Strike  1800  has a total call value of 613,500,000  versus a total put value of  17,604,000,000 Combined total value = 18,217,500,000

Strike  1820  has a total call value of 2,012,250,000  versus a total put value of  14,067,750,000 Combined total value = 16,080,000,000

Strike  1840  has a total call value of 4,110,750,000  versus a total put value of  11,017,500,000 Combined total value = 15,128,250,000

Strike  1860  has a total call value of 7,083,750,000  versus a total put value of  8,294,250,000 Combined total value = 15,378,000,000

Strike  1880  has a total call value of 11,127,000,000  versus a total put value of  6,102,750,000 Combined total value = 17,229,750,000

Strike  1900  has a total call value of 16,186,500,000  versus a total put value of  4,194,750,000 Combined total value = 20,381,250,000

Strike  1920  has a total call value of 23,352,750,000  versus a total put value of  3,120,000,000 Combined total value = 26,472,750,000

Strike  1940  has a total call value of 30,948,750,000  versus a total put value of  2,260,500,000 Combined total value = 33,209,250,000

Strike  1960  has a total call value of 39,148,500,000  versus a total put value of  1,527,750,000 Combined total value = 40,676,250,000

Strike  1980  has a total call value of 47,968,500,000  versus a total put value of  939,750,000 Combined total value = 48,908,250,000

Strike  2000  has a total call value of 57,612,750,000  versus a total put value of  447,000,000 Combined total value = 58,059,750,000

Strike  2020  has a total call value of 70,223,250,000  versus a total put value of  290,250,000 Combined total value = 70,513,500,000

Strike  2040  has a total call value of 83,187,750,000  versus a total put value of  171,750,000 Combined total value = 83,359,500,000

Strike  2060  has a total call value of 96,631,500,000  versus a total put value of  76,500,000 Combined total value = 96,708,000,000

Strike  2080  has a total call value of 110,360,250,000  versus a total put value of  23,250,000 Combined total value = 110,383,500,000

Strike  2100  has a total call value of 124,342,500,000  versus a total put value of  750,000 Combined total value = 124,343,250,000

Strike  2120  has a total call value of 138,612,750,000  versus a total put value of  0 Combined total value = 138,612,750,000

Strike  2140  has a total call value of 153,237,000,000  versus a total put value of  0 Combined total value = 153,237,000,000

Strike  2160  has a total call value of 167,862,000,000  versus a total put value of  0 Combined total value = 167,862,000,000

Strike  2180  has a total call value of 182,659,500,000  versus a total put value of  0 Combined total value = 182,659,500,000

Strike  2200  has a total call value of 197,457,000,000  versus a total put value of  0 Combined total value = 197,457,000,000

Strike  2220  has a total call value of 212,540,250,000  versus a total put value of  0 Combined total value = 212,540,250,000

Strike  2240  has a total call value of 227,623,500,000  versus a total put value of  0 Combined total value = 227,623,500,000

Max-Pain Table for Stocks
  Note:- click on symbol to see more detailed view
Max Pain Table (Stocks)
Symbol Symbol Ltp Max Pain
360ONE 1139.2 1140
ABB 5136.5 5200
ABCAPITAL 348 350
ADANIENSOL 987.65 990
ADANIENT 2242.4 2300
ADANIGREEN 1019.7 1020
ADANIPORTS 1490.9 1500
ALKEM 5564.5 5700
AMBER 6593 6800
AMBUJACEM 539.5 550
ANGELONE 2486 2550
APLAPOLLO 1792.2 1760
APOLLOHOSP 6931.5 7100
ASHOKLEY 169.7 160
ASIANPAINT 2766.6 2800
ASTRAL 1425 1460
AUBANK 987.6 960
AUROPHARMA 1210.4 1200
AXISBANK 1236 1240
BAJAJ-AUTO 8820 9000
BAJAJFINSV 2031.8 2060
BAJFINANCE 1005.2 1020
BANDHANBNK 146.76 150
BANKBARODA 290.4 290
BANKINDIA 143.19 143
BDL 1344.8 1380
BEL 384.85 400
BHARATFORG 1406 1400
BHARTIARTL 2107.9 2100
BHEL 274.1 280
BIOCON 392.9 390
BLUESTARCO 1850.5 1800
BOSCHLTD 35680 36000
BPCL 362.25 365
BRITANNIA 6030.5 6000
BSE 2688 2700
CAMS 742.5 770
CANBK 150.58 150
CDSL 1487.4 1540
CGPOWER 668.2 680
CHOLAFIN 1686.1 1700
CIPLA 1501.2 1520
COALINDIA 385.5 384.75
COFORGE 1844.2 1840
COLPAL 2088.2 2160
CONCOR 498.35 520
CROMPTON 259.15 265
CUMMINSIND 4381.9 4400
CYIENT 1143.3 1140
DABUR 493 500
DALBHARAT 2042.9 2040
DELHIVERY 401.15 410
DIVISLAB 6384.5 6400
DIXON 13335 13750
DLF 684.9 710
DMART 3774.5 3900
DRREDDY 1275.4 1270
EICHERMOT 7101.5 7100
ETERNAL 284.5 290
EXIDEIND 360.15 370
FEDERALBNK 265.5 260
FORTIS 866.35 890
GAIL 168.01 175
GLENMARK 1952.6 1940
GMRAIRPORT 100.25 102
GODREJCP 1181.3 1160
GODREJPROP 2004.6 2060
GRASIM 2819.9 2800
HAL 4258.9 4450
HAVELLS 1407.4 1440
HCLTECH 1661.3 1660
HDFCAMC 2708.2 2660
HDFCBANK 982.6 995
HDFCLIFE 757.15 770
HEROMOTOCO 5744 5900
HFCL 65.15 67
HINDALCO 861.7 820
HINDPETRO 463.15 460
HINDUNILVR 2275.4 2300
HINDZINC 592.9 560
HUDCO 208.33 220
ICICIBANK 1364.5 1370
ICICIGI 1952.1 1960
ICICIPRULI 641.65 630
IDEA 11.51 11
IDFCFIRSTB 84.15 82
IEX 141.19 145
IIFL 565.4 560
INDHOTEL 719.6 730
INDIANB 781.55 820
INDIGO 5106 5050
INDUSINDBK 838.65 850
INDUSTOWER 410 410
INFY 1624.7 1600
INOXWIND 125.3 130
IOC 162.26 162
IRCTC 665.8 690
IREDA 132.14 140
IRFC 111.82 116
ITC 401.2 405
JINDALSTEL 993.9 1020
JIOFIN 292.8 305
JSWENERGY 472.6 490
JSWSTEEL 1088.9 1120
JUBLFOOD 558.6 580
KALYANKJIL 471.15 480
KAYNES 4121 4300
KEI 4079.6 4100
KFINTECH 1056 1060
KOTAKBANK 2172.3 2160
KPITTECH 1163.6 1200
LAURUSLABS 1012.5 1000
LICHSGFIN 527.8 550
LICI 842.65 870
LODHA 1072.8 1100
LT 4057.4 4040
LTF 302.4 302.5
LTIM 6225.5 6200
LUPIN 2121.1 2100
M&M 3576.1 3650
MANAPPURAM 290.2 280
MANKIND 2121 2200
MARICO 742.1 740
MARUTI 16367 16200
MAXHEALTH 1052.9 1080
MAZDOCK 2370.9 2500
MCX 10155 10000
MFSL 1679.2 1680
MOTHERSON 117.25 116
MPHASIS 2893.4 2900
MUTHOOTFIN 3769.4 3750
NATIONALUM 282 270
NAUKRI 1345.7 1360
NBCC 108.37 111
NCC 154.79 165
NESTLEIND 1243.1 1240
NHPC 75.01 78
NMDC 77.05 77
NTPC 318.15 325
NUVAMA 7337 7300
NYKAA 243.75 252.5
OBEROIRLTY 1666 1660
OFSS 7715.5 8000
OIL 399 410
ONGC 232.64 237.5
PAGEIND 35885 37000
PATANJALI 553.05 550
PAYTM 1279.9 1300
PERSISTENT 6307.5 6300
PETRONET 268.3 278
PFC 336.25 355
PGEL 568.65 560
PHOENIXLTD 1803.8 1760
PIDILITIND 1450.9 1480
PIIND 3209.7 3300
PNB 119.43 120
PNBHOUSING 902.5 900
POLICYBZR 1820.1 1840
POLYCAB 7126.5 7200
POWERGRID 257.05 270
POWERINDIA 18315 19000
PPLPHARMA 166.3 177.5
PRESTIGE 1605 1640
RBLBANK 300.6 305
RECLTD 337.4 350
RELIANCE 1548.7 1540
RVNL 306.4 310
SAIL 129.7 132
SAMMAANCAP 146 155
SBICARD 851.85 870
SBILIFE 2015 2020
SBIN 979.45 970
SHREECEM 25830 26500
SHRIRAMFIN 872.8 850
SIEMENS 3078.9 3150
SOLARINDS 11766 12500
SONACOMS 485.8 500
SRF 3037.2 3000
SUNPHARMA 1738 1760
SUPREMEIND 3341.9 3400
SUZLON 51.79 54
SYNGENE 654.7 650
TATACONSUM 1180 1180
TATAELXSI 4998.5 5000
TATAMOTORS 0 320
TATAPOWER 375.1 390
TATASTEEL 169.74 170
TATATECH 644.2 670
TCS 3276 3200
TECHM 1593.7 1560
TIINDIA 2592.5 2700
TITAGARH 774.35 800
TITAN 3912 3860
TMPV 344.85 360
TORNTPHARM 3731.1 3750
TORNTPOWER 1259.5 1300
TRENT 4019.1 4200
TVSMOTOR 3587.7 3600
ULTRACEMCO 11508 11600
UNIONBANK 155.02 155
UNITDSPR 1397.2 1440
UNOMINDA 1233.7 1280
UPL 747.5 750
VBL 471.3 470
VEDL 580.75 550
VOLTAS 1414 1380
WIPRO 263.16 257.5
YESBANK 21.55 22
ZYDUSLIFE 915.3 930

Note:
Stock LTP > Max Pain Bearish Trend
Stock LTP < Max Pain Bullish Trend
Frequently Asked Questions

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

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

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

  1. For each strike price: Calculate the difference between the current stock price and the strike price.
  2. Multiply by Open Interest: Multiply this difference by the open interest (number of contracts) at that strike for both call and put options.
  3. Sum the values: Add together the dollar value for put options and call options at each strike price.
  4. Repeat for all strikes: Perform this calculation for every available strike price in the option chain.
  5. Identify the maximum: The strike price with the highest combined dollar value is the Max Pain price.

This calculation helps identify the price level where option writers would face the maximum financial loss if the stock closes at that price on expiration day.

Traders can incorporate Max Pain analysis into their trading strategy in several ways:

  • Expiration Day Trading: As option expiration approaches, traders can use Max Pain as a potential support or resistance level, as market makers may attempt to push the price toward this level.
  • Option Selection: Understanding Max Pain helps traders choose strike prices that are less likely to be manipulated, potentially improving their option trade outcomes.
  • Risk Management: If a stock is trading far from Max Pain before expiration, traders can anticipate potential price movement toward this level and adjust their positions accordingly.
  • Market Sentiment Indicator: Comparing the current stock price to Max Pain can provide insights into market sentiment and potential price direction near expiration.
  • Hedging Strategy: Option writers can use Max Pain to identify strike prices where they might face the least payout risk, helping them structure more efficient hedging strategies.

Max Pain provides insights into potential stock price behavior, especially near option expiration:

  • Price Magnet Effect: If the stock price is significantly above or below Max Pain before expiration, there may be a tendency for the price to move toward Max Pain as expiration approaches, as option writers hedge their positions.
  • Support/Resistance Level: Max Pain can act as a psychological and technical support or resistance level, especially on expiration day, as it represents the price where maximum option value would be lost.
  • Volatility Indicator: A large gap between current price and Max Pain may indicate higher potential volatility or price movement as expiration nears.
  • Market Maker Activity: Significant open interest concentration around Max Pain suggests where market makers might have the most incentive to influence price movement through their hedging activities.

Note: Max Pain is a theoretical concept and should be used in conjunction with other technical and fundamental analysis tools, as it does not guarantee price movement.

Max Pain is a dynamic value that changes continuously based on several factors:

  • Open Interest Changes: As traders open and close option positions, the open interest at different strike prices changes, which directly affects the Max Pain calculation.
  • Stock Price Movement: As the underlying stock price moves, different strike prices become in-the-money or out-of-the-money, altering the dollar value calculations.
  • Time Decay: As expiration approaches, the time value of options decreases, but the intrinsic value calculations for Max Pain continue to evolve with price movements.
  • New Option Contracts: When new strike prices are added or when significant new positions are opened, Max Pain may shift to reflect the new distribution of open interest.

For accurate Max Pain analysis, traders should monitor it regularly, especially in the days leading up to expiration, as it can shift significantly as market conditions and option positions change.

Max Pain and Spot Price are two distinct concepts that serve different purposes in options trading:

  • Spot Price (Current Market Price): This is the current trading price of the underlying stock or index in the market. It represents the real-time value at which the asset can be bought or sold immediately.
  • Max Pain Price: This is a calculated theoretical price level based on option open interest data. It represents the strike price where option writers would face minimum payout obligations, not necessarily where the stock is currently trading.

The relationship between these two prices is crucial: when the spot price is far from Max Pain, traders may anticipate potential price movement toward Max Pain as expiration approaches. However, this is not guaranteed, and many other factors influence stock price movement.

No, Max Pain is not always accurate and should not be used as the sole indicator for predicting stock price movement. Here's why:

  • Market Forces: Strong fundamental news, earnings reports, or significant market events can override the Max Pain effect and drive prices in unexpected directions.
  • Institutional Activity: Large institutional trades, algorithmic trading, and other market participants may have different objectives than minimizing option payouts.
  • Limited Influence: While market makers may attempt to influence price toward Max Pain, their ability to do so is limited, especially in highly liquid stocks with strong directional momentum.
  • Multiple Expirations: Stocks often have options expiring on different dates (weekly, monthly), which means multiple Max Pain levels may exist simultaneously, reducing the predictive power of any single level.
  • Statistical Tool: Max Pain is best viewed as a statistical tool that provides context about option market dynamics rather than a guaranteed price target.

Traders should use Max Pain as one of many tools in their analysis, combining it with technical analysis, fundamental analysis, and market sentiment indicators for more comprehensive decision-making.

Max Pain becomes increasingly relevant as option expiration approaches:

  • Last Trading Week: Max Pain analysis is most useful during the final week before expiration, when option writers are actively hedging and the "pinning effect" (price movement toward Max Pain) is most likely to occur.
  • Expiration Day: On the day of expiration, Max Pain can serve as a key reference level, as market makers may attempt to keep the stock price near this level to minimize their payout obligations.
  • High Open Interest: Max Pain is more reliable when there is significant open interest concentrated around specific strike prices, as this indicates where option writers have the most exposure.
  • Low Volatility Periods: During periods of low market volatility, Max Pain may have a stronger influence, as there are fewer competing forces driving price movement.
  • Monthly Expirations: Monthly option expirations (typically the third Friday) often show stronger Max Pain effects compared to weekly expirations, due to higher open interest and more significant market maker involvement.

While Max Pain can be calculated at any time, its predictive value and practical application increase significantly as expiration approaches, making it particularly useful for short-term trading strategies focused on expiration week dynamics.