[--[65.84.65.76]--]

DIVISLAB

Divi S Laboratories Ltd
6567 +187.00 (2.93%)
L: 6408.5 H: 6598
Max Pain - DIVISLAB
19 Dec 2025 09:31 AM IST
Live


Strike  5400  has a total call value of 0  versus a total put value of  67,210,000,000 Combined total value = 67,210,000,000

Strike  5450  has a total call value of 0  versus a total put value of  63,111,000,000 Combined total value = 63,111,000,000

Strike  5500  has a total call value of 0  versus a total put value of  59,012,000,000 Combined total value = 59,012,000,000

Strike  5550  has a total call value of 500,000  versus a total put value of  54,918,500,000 Combined total value = 54,919,000,000

Strike  5600  has a total call value of 1,000,000  versus a total put value of  50,825,000,000 Combined total value = 50,826,000,000

Strike  5650  has a total call value of 3,000,000  versus a total put value of  46,735,500,000 Combined total value = 46,738,500,000

Strike  5700  has a total call value of 5,000,000  versus a total put value of  42,646,000,000 Combined total value = 42,651,000,000

Strike  5750  has a total call value of 7,000,000  versus a total put value of  38,578,000,000 Combined total value = 38,585,000,000

Strike  5800  has a total call value of 9,500,000  versus a total put value of  34,511,500,000 Combined total value = 34,521,000,000

Strike  5850  has a total call value of 13,500,000  versus a total put value of  31,290,500,000 Combined total value = 31,304,000,000

Strike  5900  has a total call value of 19,000,000  versus a total put value of  28,069,500,000 Combined total value = 28,088,500,000

Strike  5950  has a total call value of 24,500,000  versus a total put value of  24,848,500,000 Combined total value = 24,873,000,000

Strike  6000  has a total call value of 30,000,000  versus a total put value of  21,627,500,000 Combined total value = 21,657,500,000

Strike  6050  has a total call value of 41,500,000  versus a total put value of  18,686,000,000 Combined total value = 18,727,500,000

Strike  6100  has a total call value of 53,000,000  versus a total put value of  15,784,500,000 Combined total value = 15,837,500,000

Strike  6150  has a total call value of 170,500,000  versus a total put value of  13,371,500,000 Combined total value = 13,542,000,000

Strike  6200  has a total call value of 288,000,000  versus a total put value of  11,036,500,000 Combined total value = 11,324,500,000

Strike  6250  has a total call value of 425,000,000  versus a total put value of  8,907,000,000 Combined total value = 9,332,000,000

Strike  6300  has a total call value of 598,500,000  versus a total put value of  6,882,500,000 Combined total value = 7,481,000,000

Strike  6350  has a total call value of 912,500,000  versus a total put value of  5,306,000,000 Combined total value = 6,218,500,000

Strike  6400  has a total call value of 1,341,500,000  versus a total put value of  3,899,500,000 Combined total value = 5,241,000,000

Strike  6450  has a total call value of 2,184,500,000  versus a total put value of  2,905,000,000 Combined total value = 5,089,500,000

Strike  6500  has a total call value of 3,192,000,000  versus a total put value of  2,024,000,000 Combined total value = 5,216,000,000

Strike  6550  has a total call value of 4,846,500,000  versus a total put value of  1,384,000,000 Combined total value = 6,230,500,000

Strike  6600  has a total call value of 6,812,000,000  versus a total put value of  935,000,000 Combined total value = 7,747,000,000

Strike  6650  has a total call value of 9,843,500,000  versus a total put value of  767,500,000 Combined total value = 10,611,000,000

Strike  6700  has a total call value of 13,070,000,000  versus a total put value of  656,500,000 Combined total value = 13,726,500,000

Strike  6750  has a total call value of 17,005,000,000  versus a total put value of  570,000,000 Combined total value = 17,575,000,000

Strike  6800  has a total call value of 21,160,000,000  versus a total put value of  492,000,000 Combined total value = 21,652,000,000

Strike  6850  has a total call value of 25,736,500,000  versus a total put value of  435,000,000 Combined total value = 26,171,500,000

Strike  6900  has a total call value of 30,341,000,000  versus a total put value of  381,500,000 Combined total value = 30,722,500,000

Strike  6950  has a total call value of 35,167,500,000  versus a total put value of  328,500,000 Combined total value = 35,496,000,000

Strike  7000  has a total call value of 40,089,000,000  versus a total put value of  277,000,000 Combined total value = 40,366,000,000

Strike  7050  has a total call value of 45,415,000,000  versus a total put value of  237,000,000 Combined total value = 45,652,000,000

Strike  7100  has a total call value of 50,741,000,000  versus a total put value of  198,000,000 Combined total value = 50,939,000,000

Strike  7150  has a total call value of 56,253,500,000  versus a total put value of  161,000,000 Combined total value = 56,414,500,000

Strike  7200  has a total call value of 61,766,000,000  versus a total put value of  124,000,000 Combined total value = 61,890,000,000

Strike  7250  has a total call value of 68,077,500,000  versus a total put value of  93,000,000 Combined total value = 68,170,500,000

Strike  7300  has a total call value of 74,389,000,000  versus a total put value of  62,000,000 Combined total value = 74,451,000,000

Strike  7350  has a total call value of 80,700,500,000  versus a total put value of  31,000,000 Combined total value = 80,731,500,000

Strike  7400  has a total call value of 87,012,000,000  versus a total put value of  0 Combined total value = 87,012,000,000

Strike  7450  has a total call value of 93,328,000,000  versus a total put value of  0 Combined total value = 93,328,000,000

Strike  7500  has a total call value of 99,644,500,000  versus a total put value of  0 Combined total value = 99,644,500,000

Strike  7550  has a total call value of 106,050,500,000  versus a total put value of  0 Combined total value = 106,050,500,000

Strike  7600  has a total call value of 112,456,500,000  versus a total put value of  0 Combined total value = 112,456,500,000

Strike  7650  has a total call value of 118,884,000,000  versus a total put value of  0 Combined total value = 118,884,000,000

Strike  7700  has a total call value of 125,311,500,000  versus a total put value of  0 Combined total value = 125,311,500,000

Strike  7750  has a total call value of 131,739,000,000  versus a total put value of  0 Combined total value = 131,739,000,000

Strike  7800  has a total call value of 138,166,500,000  versus a total put value of  0 Combined total value = 138,166,500,000

Max-Pain Table for Stocks
  Note:- click on symbol to see more detailed view
Max Pain Table (Stocks)
Symbol Symbol Ltp Max Pain
360ONE 1140.4 1140
ABB 5160 5200
ABCAPITAL 344.7 345
ADANIENSOL 979.05 980
ADANIENT 2244.5 2300
ADANIGREEN 1015.8 1020
ADANIPORTS 1499.6 1500
ALKEM 5569 5650
AMBER 6659 6800
AMBUJACEM 537.35 550
ANGELONE 2478.6 2550
APLAPOLLO 1801.9 1760
APOLLOHOSP 6953 7100
ASHOKLEY 172.05 162
ASIANPAINT 2775.5 2800
ASTRAL 1416.7 1440
AUBANK 985.95 960
AUROPHARMA 1233.8 1220
AXISBANK 1237.8 1240
BAJAJ-AUTO 8886.5 9000
BAJAJFINSV 2049.6 2060
BAJFINANCE 1010.4 1020
BANDHANBNK 148.85 150
BANKBARODA 290.25 290
BANKINDIA 142.66 143
BDL 1353 1400
BEL 389.6 400
BHARATFORG 1422.8 1400
BHARTIARTL 2096 2100
BHEL 276.1 280
BIOCON 399.7 395
BLUESTARCO 1853.5 1800
BOSCHLTD 35815 36000
BPCL 366.4 365
BRITANNIA 6019 6000
BSE 2722 2700
CAMS 755.6 770
CANBK 149.71 150
CDSL 1497.9 1540
CGPOWER 665.7 680
CHOLAFIN 1682.2 1700
CIPLA 1509.9 1520
COALINDIA 385.6 384.75
COFORGE 1849 1840
COLPAL 2087 2160
CONCOR 500.2 520
CROMPTON 254.35 265
CUMMINSIND 4401.7 4400
CYIENT 1147.8 1140
DABUR 493.1 500
DALBHARAT 2021.4 2040
DELHIVERY 403.5 410
DIVISLAB 6567 6450
DIXON 13337 13500
DLF 685 710
DMART 3778.9 3900
DRREDDY 1286.2 1270
EICHERMOT 7160.5 7100
ETERNAL 287.5 295
EXIDEIND 361.05 370
FEDERALBNK 266.2 260
FORTIS 876.6 890
GAIL 168.54 175
GLENMARK 1986.8 1940
GMRAIRPORT 101.55 102
GODREJCP 1178 1160
GODREJPROP 2024.8 2060
GRASIM 2825 2800
HAL 4283 4450
HAVELLS 1410.6 1440
HCLTECH 1660.2 1660
HDFCAMC 2705 2700
HDFCBANK 983.3 990
HDFCLIFE 756.8 770
HEROMOTOCO 5774.5 5900
HFCL 64.92 67
HINDALCO 861.9 820
HINDPETRO 464 460
HINDUNILVR 2274.9 2300
HINDZINC 582.45 555
HUDCO 208.45 217.5
ICICIBANK 1357.1 1380
ICICIGI 1947.5 1960
ICICIPRULI 649.6 630
IDEA 11.49 11
IDFCFIRSTB 83.93 82
IEX 140.25 145
IIFL 565.55 560
INDHOTEL 729.4 730
INDIANB 782.3 820
INDIGO 5132.5 5100
INDUSINDBK 835.6 850
INDUSTOWER 411.35 410
INFY 1645.4 1600
INOXWIND 125.12 130
IOC 161.2 161
IRCTC 669.5 690
IREDA 132.12 140
IRFC 111.45 115
ITC 401.05 405
JINDALSTEL 995 1020
JIOFIN 296.25 305
JSWENERGY 472.4 490
JSWSTEEL 1083.4 1120
JUBLFOOD 560 580
KALYANKJIL 474.65 480
KAYNES 4062 4300
KEI 4173 4100
KFINTECH 1079.8 1060
KOTAKBANK 2168.8 2160
KPITTECH 1169.7 1200
LAURUSLABS 1039.7 1000
LICHSGFIN 529.65 550
LICI 849.05 870
LODHA 1086 1100
LT 4065.9 4040
LTF 300.65 300
LTIM 6044.5 6100
LUPIN 2140.9 2100
M&M 3586.6 3650
MANAPPURAM 285.4 280
MANKIND 2162 2200
MARICO 735.7 730
MARUTI 16381 16300
MAXHEALTH 1067.9 1080
MAZDOCK 2387.7 2500
MCX 10322 10100
MFSL 1682.5 1680
MOTHERSON 118.68 115
MPHASIS 2878.8 2900
MUTHOOTFIN 3727.5 3750
NATIONALUM 280.4 270
NAUKRI 1332.2 1360
NBCC 109.19 111
NCC 153.71 165
NESTLEIND 1234.3 1240
NHPC 75.32 78
NMDC 76.29 77
NTPC 319.65 325
NUVAMA 7241 7300
NYKAA 244.5 252.5
OBEROIRLTY 1675 1660
OFSS 7690 8000
OIL 401.65 410
ONGC 232.21 237.5
PAGEIND 35790 37000
PATANJALI 553.35 550
PAYTM 1306.2 1300
PERSISTENT 6325.5 6300
PETRONET 269.4 278
PFC 337.6 355
PGEL 573 560
PHOENIXLTD 1807.5 1760
PIDILITIND 1453.5 1480
PIIND 3217.2 3350
PNB 119.36 120
PNBHOUSING 904.05 900
POLICYBZR 1839.9 1840
POLYCAB 7283.5 7200
POWERGRID 260.25 270
POWERINDIA 18365 19000
PPLPHARMA 169.59 175
PRESTIGE 1618.8 1640
RBLBANK 299.5 305
RECLTD 340.15 350
RELIANCE 1567.1 1550
RVNL 310.1 310
SAIL 125.73 131
SAMMAANCAP 145.69 152.5
SBICARD 855.95 870
SBILIFE 2020.5 2020
SBIN 980.4 970
SHREECEM 25430 26250
SHRIRAMFIN 858.65 850
SIEMENS 3102.2 3150
SOLARINDS 11791 12500
SONACOMS 491 500
SRF 3043 3000
SUNPHARMA 1754.6 1760
SUPREMEIND 3369.9 3400
SUZLON 52.02 54
SYNGENE 661 650
TATACONSUM 1177.3 1170
TATAELXSI 5166.5 5100
TATAMOTORS 0 320
TATAPOWER 375.7 390
TATASTEEL 169.26 170
TATATECH 647.85 670
TCS 3313 3220
TECHM 1606 1560
TIINDIA 2604.8 2700
TITAGARH 775.6 800
TITAN 3930 3880
TMPV 352.05 360
TORNTPHARM 3784.7 3750
TORNTPOWER 1264 1300
TRENT 4057.5 4200
TVSMOTOR 3616.9 3600
ULTRACEMCO 11505 11600
UNIONBANK 154.94 155
UNITDSPR 1396 1430
UNOMINDA 1236.3 1280
UPL 748.6 750
VBL 474.15 470
VEDL 576.75 555
VOLTAS 1411.1 1400
WIPRO 265.3 260
YESBANK 21.57 22
ZYDUSLIFE 924.05 930

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.