FINNIFTY
Nifty Financial Services
Max pain for FINNIFTY
12 Nov 2024 04:13 PM IST
Max Pain for FINNIFTY is 23700
Strike 21100 has a total call value of 0 versus a total put value of 372,699,750,000 Combined total value = 372,699,750,000
Strike 21150 has a total call value of 0 versus a total put value of 365,008,750,000 Combined total value = 365,008,750,000
Strike 21200 has a total call value of 0 versus a total put value of 357,317,750,000 Combined total value = 357,317,750,000
Strike 21250 has a total call value of 0 versus a total put value of 349,626,750,000 Combined total value = 349,626,750,000
Strike 21300 has a total call value of 0 versus a total put value of 341,935,750,000 Combined total value = 341,935,750,000
Strike 21350 has a total call value of 0 versus a total put value of 334,244,750,000 Combined total value = 334,244,750,000
Strike 21400 has a total call value of 0 versus a total put value of 326,553,750,000 Combined total value = 326,553,750,000
Strike 21450 has a total call value of 0 versus a total put value of 318,862,750,000 Combined total value = 318,862,750,000
Strike 21500 has a total call value of 0 versus a total put value of 311,171,750,000 Combined total value = 311,171,750,000
Strike 21550 has a total call value of 0 versus a total put value of 303,485,875,000 Combined total value = 303,485,875,000
Strike 21600 has a total call value of 0 versus a total put value of 295,800,000,000 Combined total value = 295,800,000,000
Strike 21650 has a total call value of 0 versus a total put value of 288,114,125,000 Combined total value = 288,114,125,000
Strike 21700 has a total call value of 0 versus a total put value of 280,428,250,000 Combined total value = 280,428,250,000
Strike 21750 has a total call value of 0 versus a total put value of 272,743,125,000 Combined total value = 272,743,125,000
Strike 21800 has a total call value of 0 versus a total put value of 265,058,000,000 Combined total value = 265,058,000,000
Strike 21850 has a total call value of 0 versus a total put value of 257,372,875,000 Combined total value = 257,372,875,000
Strike 21900 has a total call value of 0 versus a total put value of 249,687,750,000 Combined total value = 249,687,750,000
Strike 21950 has a total call value of 0 versus a total put value of 242,002,625,000 Combined total value = 242,002,625,000
Strike 22000 has a total call value of 0 versus a total put value of 234,317,500,000 Combined total value = 234,317,500,000
Strike 22050 has a total call value of 0 versus a total put value of 226,713,750,000 Combined total value = 226,713,750,000
Strike 22100 has a total call value of 0 versus a total put value of 219,110,000,000 Combined total value = 219,110,000,000
Strike 22150 has a total call value of 0 versus a total put value of 211,506,250,000 Combined total value = 211,506,250,000
Strike 22200 has a total call value of 0 versus a total put value of 203,902,500,000 Combined total value = 203,902,500,000
Strike 22250 has a total call value of 0 versus a total put value of 196,302,000,000 Combined total value = 196,302,000,000
Strike 22300 has a total call value of 0 versus a total put value of 188,701,500,000 Combined total value = 188,701,500,000
Strike 22350 has a total call value of 0 versus a total put value of 181,101,000,000 Combined total value = 181,101,000,000
Strike 22400 has a total call value of 0 versus a total put value of 173,500,500,000 Combined total value = 173,500,500,000
Strike 22450 has a total call value of 0 versus a total put value of 165,900,000,000 Combined total value = 165,900,000,000
Strike 22500 has a total call value of 0 versus a total put value of 158,299,500,000 Combined total value = 158,299,500,000
Strike 22550 has a total call value of 0 versus a total put value of 150,786,000,000 Combined total value = 150,786,000,000
Strike 22600 has a total call value of 0 versus a total put value of 143,277,875,000 Combined total value = 143,277,875,000
Strike 22650 has a total call value of 0 versus a total put value of 135,909,750,000 Combined total value = 135,909,750,000
Strike 22700 has a total call value of 0 versus a total put value of 128,549,625,000 Combined total value = 128,549,625,000
Strike 22750 has a total call value of 0 versus a total put value of 121,201,375,000 Combined total value = 121,201,375,000
Strike 22800 has a total call value of 0 versus a total put value of 113,853,125,000 Combined total value = 113,853,125,000
Strike 22850 has a total call value of 0 versus a total put value of 106,633,500,000 Combined total value = 106,633,500,000
Strike 22900 has a total call value of 0 versus a total put value of 99,413,875,000 Combined total value = 99,413,875,000
Strike 22950 has a total call value of 0 versus a total put value of 92,240,125,000 Combined total value = 92,240,125,000
Strike 23000 has a total call value of 0 versus a total put value of 85,066,375,000 Combined total value = 85,066,375,000
Strike 23050 has a total call value of 4,625,000 versus a total put value of 78,526,875,000 Combined total value = 78,531,500,000
Strike 23100 has a total call value of 9,250,000 versus a total put value of 71,987,875,000 Combined total value = 71,997,125,000
Strike 23150 has a total call value of 13,875,000 versus a total put value of 65,532,000,000 Combined total value = 65,545,875,000
Strike 23200 has a total call value of 18,500,000 versus a total put value of 59,090,500,000 Combined total value = 59,109,000,000
Strike 23250 has a total call value of 23,125,000 versus a total put value of 52,992,000,000 Combined total value = 53,015,125,000
Strike 23300 has a total call value of 27,750,000 versus a total put value of 46,893,500,000 Combined total value = 46,921,250,000
Strike 23350 has a total call value of 32,375,000 versus a total put value of 41,112,375,000 Combined total value = 41,144,750,000
Strike 23400 has a total call value of 37,000,000 versus a total put value of 35,342,750,000 Combined total value = 35,379,750,000
Strike 23450 has a total call value of 41,625,000 versus a total put value of 29,822,000,000 Combined total value = 29,863,625,000
Strike 23500 has a total call value of 46,250,000 versus a total put value of 24,324,375,000 Combined total value = 24,370,625,000
Strike 23550 has a total call value of 340,250,000 versus a total put value of 19,920,625,000 Combined total value = 20,260,875,000
Strike 23600 has a total call value of 741,625,000 versus a total put value of 15,716,375,000 Combined total value = 16,458,000,000
Strike 23650 has a total call value of 2,285,500,000 versus a total put value of 12,428,250,000 Combined total value = 14,713,750,000
Strike 23700 has a total call value of 4,133,500,000 versus a total put value of 9,321,375,000 Combined total value = 13,454,875,000
Strike 23750 has a total call value of 6,948,875,000 versus a total put value of 7,163,250,000 Combined total value = 14,112,125,000
Strike 23800 has a total call value of 9,921,500,000 versus a total put value of 5,100,875,000 Combined total value = 15,022,375,000
Strike 23850 has a total call value of 13,525,750,000 versus a total put value of 3,646,875,000 Combined total value = 17,172,625,000
Strike 23900 has a total call value of 17,412,625,000 versus a total put value of 2,334,000,000 Combined total value = 19,746,625,000
Strike 23950 has a total call value of 21,980,875,000 versus a total put value of 1,475,000,000 Combined total value = 23,455,875,000
Strike 24000 has a total call value of 26,760,625,000 versus a total put value of 722,875,000 Combined total value = 27,483,500,000
Strike 24050 has a total call value of 33,363,500,000 versus a total put value of 492,125,000 Combined total value = 33,855,625,000
Strike 24100 has a total call value of 40,154,875,000 versus a total put value of 298,250,000 Combined total value = 40,453,125,000
Strike 24150 has a total call value of 47,615,250,000 versus a total put value of 162,000,000 Combined total value = 47,777,250,000
Strike 24200 has a total call value of 55,185,875,000 versus a total put value of 55,000,000 Combined total value = 55,240,875,000
Strike 24250 has a total call value of 63,319,250,000 versus a total put value of 15,500,000 Combined total value = 63,334,750,000
Strike 24300 has a total call value of 71,629,625,000 versus a total put value of 6,000,000 Combined total value = 71,635,625,000
Strike 24350 has a total call value of 80,433,375,000 versus a total put value of 5,500,000 Combined total value = 80,438,875,000
Strike 24400 has a total call value of 89,295,750,000 versus a total put value of 5,000,000 Combined total value = 89,300,750,000
Strike 24450 has a total call value of 98,315,125,000 versus a total put value of 4,500,000 Combined total value = 98,319,625,000
Strike 24500 has a total call value of 107,364,875,000 versus a total put value of 4,000,000 Combined total value = 107,368,875,000
Strike 24550 has a total call value of 117,287,125,000 versus a total put value of 3,500,000 Combined total value = 117,290,625,000
Strike 24600 has a total call value of 127,209,375,000 versus a total put value of 3,000,000 Combined total value = 127,212,375,000
Strike 24650 has a total call value of 137,520,375,000 versus a total put value of 2,500,000 Combined total value = 137,522,875,000
Strike 24700 has a total call value of 147,836,375,000 versus a total put value of 2,000,000 Combined total value = 147,838,375,000
Strike 24750 has a total call value of 158,294,000,000 versus a total put value of 1,500,000 Combined total value = 158,295,500,000
Strike 24800 has a total call value of 168,751,625,000 versus a total put value of 1,000,000 Combined total value = 168,752,625,000
Strike 24850 has a total call value of 179,397,500,000 versus a total put value of 500,000 Combined total value = 179,398,000,000
Strike 24900 has a total call value of 190,053,250,000 versus a total put value of 0 Combined total value = 190,053,250,000
Strike 24950 has a total call value of 200,774,125,000 versus a total put value of 0 Combined total value = 200,774,125,000
Strike 25000 has a total call value of 211,499,750,000 versus a total put value of 0 Combined total value = 211,499,750,000
Strike 25050 has a total call value of 222,529,625,000 versus a total put value of 0 Combined total value = 222,529,625,000
Strike 25100 has a total call value of 233,573,875,000 versus a total put value of 0 Combined total value = 233,573,875,000
Strike 25150 has a total call value of 244,628,500,000 versus a total put value of 0 Combined total value = 244,628,500,000
Strike 25200 has a total call value of 255,688,750,000 versus a total put value of 0 Combined total value = 255,688,750,000
Strike 25250 has a total call value of 266,780,125,000 versus a total put value of 0 Combined total value = 266,780,125,000
Strike 25300 has a total call value of 277,871,625,000 versus a total put value of 0 Combined total value = 277,871,625,000
Strike 25350 has a total call value of 288,963,375,000 versus a total put value of 0 Combined total value = 288,963,375,000
Strike 25400 has a total call value of 300,055,625,000 versus a total put value of 0 Combined total value = 300,055,625,000
Strike 25450 has a total call value of 311,155,125,000 versus a total put value of 0 Combined total value = 311,155,125,000
Strike 25500 has a total call value of 322,255,500,000 versus a total put value of 0 Combined total value = 322,255,500,000
Strike 25550 has a total call value of 333,561,625,000 versus a total put value of 0 Combined total value = 333,561,625,000
Strike 25600 has a total call value of 344,867,750,000 versus a total put value of 0 Combined total value = 344,867,750,000
Strike 25650 has a total call value of 356,212,375,000 versus a total put value of 0 Combined total value = 356,212,375,000
Strike 25700 has a total call value of 367,557,000,000 versus a total put value of 0 Combined total value = 367,557,000,000
Strike 25750 has a total call value of 378,908,875,000 versus a total put value of 0 Combined total value = 378,908,875,000
Strike 25800 has a total call value of 390,260,750,000 versus a total put value of 0 Combined total value = 390,260,750,000
Strike 25850 has a total call value of 401,690,750,000 versus a total put value of 0 Combined total value = 401,690,750,000
Strike 25900 has a total call value of 413,120,750,000 versus a total put value of 0 Combined total value = 413,120,750,000
Strike 25950 has a total call value of 424,580,750,000 versus a total put value of 0 Combined total value = 424,580,750,000
Strike 26000 has a total call value of 436,040,750,000 versus a total put value of 0 Combined total value = 436,040,750,000
Strike 26050 has a total call value of 447,515,750,000 versus a total put value of 0 Combined total value = 447,515,750,000
Strike 26100 has a total call value of 458,990,750,000 versus a total put value of 0 Combined total value = 458,990,750,000
Strike 26150 has a total call value of 470,465,750,000 versus a total put value of 0 Combined total value = 470,465,750,000
Strike 26200 has a total call value of 481,940,750,000 versus a total put value of 0 Combined total value = 481,940,750,000
Strike 26250 has a total call value of 493,415,750,000 versus a total put value of 0 Combined total value = 493,415,750,000
Strike 26300 has a total call value of 504,890,750,000 versus a total put value of 0 Combined total value = 504,890,750,000
Strike 26350 has a total call value of 516,365,750,000 versus a total put value of 0 Combined total value = 516,365,750,000
Strike 26400 has a total call value of 527,840,750,000 versus a total put value of 0 Combined total value = 527,840,750,000
Strike 26450 has a total call value of 539,315,750,000 versus a total put value of 0 Combined total value = 539,315,750,000
Strike 26500 has a total call value of 550,790,750,000 versus a total put value of 0 Combined total value = 550,790,750,000
Strike 26550 has a total call value of 562,265,750,000 versus a total put value of 0 Combined total value = 562,265,750,000
Strike 26600 has a total call value of 573,740,750,000 versus a total put value of 0 Combined total value = 573,740,750,000
Strike 26650 has a total call value of 585,215,750,000 versus a total put value of 0 Combined total value = 585,215,750,000
Strike 26700 has a total call value of 596,690,750,000 versus a total put value of 0 Combined total value = 596,690,750,000
Strike 26750 has a total call value of 608,165,750,000 versus a total put value of 0 Combined total value = 608,165,750,000
Strike 26800 has a total call value of 619,640,750,000 versus a total put value of 0 Combined total value = 619,640,750,000
Strike 26850 has a total call value of 631,115,750,000 versus a total put value of 0 Combined total value = 631,115,750,000
Strike 26900 has a total call value of 642,590,750,000 versus a total put value of 0 Combined total value = 642,590,750,000
Max-Pain Table for Monthly Expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| AARTIIND | 445.25 | 460 |
| ABB | 6964.25 | 7200 |
| ABBOTINDIA | 28597.85 | 29000 |
| ABCAPITAL | 194.77 | 205 |
| ABFRL | 293.85 | 300 |
| ACC | 2263.9 | 2400 |
| ADANIENT | 2870 | 3000 |
| ADANIPORTS | 1326 | 1360 |
| ALKEM | 5503.4 | 5700 |
| AMBUJACEM | 556.6 | 580 |
| APOLLOHOSP | 7019.55 | 7200 |
| APOLLOTYRE | 471.35 | 480 |
| ASHOKLEY | 221.12 | 220 |
| ASIANPAINT | 2474.85 | 2600 |
| ASTRAL | 1742.65 | 1800 |
| ATUL | 7423.25 | 7700 |
| AUBANK | 579.25 | 590 |
| AUROPHARMA | 1267.4 | 1320 |
| AXISBANK | 1158.15 | 1170 |
| BAJAJ-AUTO | 9678.7 | 9900 |
| BAJAJFINSV | 1691.75 | 1740 |
| BAJFINANCE | 6638.2 | 6900 |
| BALKRISIND | 2742.25 | 2800 |
| BANDHANBNK | 172.59 | 180 |
| BANKBARODA | 252.7 | 255 |
| BATAINDIA | 1334.9 | 1340 |
| BEL | 290.15 | 295 |
| BERGEPAINT | 496.15 | 510 |
| BHARATFORG | 1360.6 | 1420 |
| BHARTIARTL | 1555.65 | 1600 |
| BHEL | 230.22 | 240 |
| BIOCON | 347.5 | 340 |
| BOSCHLTD | 33278.5 | 34000 |
| BPCL | 309.8 | 315 |
| BRITANNIA | 5027.55 | 5200 |
| BSOFT | 564.55 | 570 |
| CANBK | 101.5 | 105 |
| CANFINHOME | 828.85 | 850 |
| CHAMBLFERT | 483.95 | 500 |
| CHOLAFIN | 1239.75 | 1280 |
| CIPLA | 1525.15 | 1560 |
| COALINDIA | 414.05 | 434.25 |
| COFORGE | 8099.25 | 8000 |
| COLPAL | 2789.3 | 2900 |
| CONCOR | 809.75 | 840 |
| COROMANDEL | 1730.5 | 1700 |
| CROMPTON | 390.4 | 400 |
| CUB | 174.14 | 175 |
| CUMMINSIND | 3480.35 | 3550 |
| DABUR | 510.5 | 540 |
| DALBHARAT | 1786.7 | 1800 |
| DEEPAKNTR | 2572.9 | 2700 |
| DIVISLAB | 5810.7 | 5900 |
| DIXON | 15008.15 | 14750 |
| DLF | 764.85 | 800 |
| DRREDDY | 1263.9 | 1290 |
| EICHERMOT | 4738.2 | 4800 |
| ESCORTS | 3559.45 | 3650 |
| EXIDEIND | 431.8 | 450 |
| FEDERALBNK | 207.27 | 205 |
| GAIL | 194.15 | 205 |
| GLENMARK | 1577.05 | 1640 |
| GMRINFRA | 78.22 | 83 |
| GNFC | 589.2 | 630 |
| GODREJCP | 1176.2 | 1240 |
| GODREJPROP | 2645.1 | 2800 |
| GRANULES | 562.15 | 570 |
| GRASIM | 2521.2 | 2560 |
| GUJGASLTD | 503.05 | 520 |
| HAL | 4243.5 | 4400 |
| HAVELLS | 1603.4 | 1660 |
| HCLTECH | 1872.85 | 1820 |
| HDFCAMC | 4397.5 | 4450 |
| HDFCBANK | 1718.2 | 1740 |
| HDFCLIFE | 700 | 710 |
| HEROMOTOCO | 4724.2 | 4900 |
| HINDALCO | 651.65 | 660 |
| HINDCOPPER | 269.45 | 290 |
| HINDPETRO | 375.55 | 385 |
| HINDUNILVR | 2461.5 | 2520 |
| ICICIBANK | 1270.6 | 1270 |
| ICICIGI | 1892.25 | 1900 |
| ICICIPRULI | 702.1 | 720 |
| IDEA | 7.67 | 8 |
| IDFCFIRSTB | 66.24 | 67 |
| IEX | 166.23 | 175 |
| IGL | 427.3 | 430 |
| INDHOTEL | 730.4 | 720 |
| INDIAMART | 2308.15 | 2400 |
| INDIGO | 3912.9 | 4000 |
| INDUSINDBK | 1059.55 | 1080 |
| INDUSTOWER | 321 | 350 |
| INFY | 1868.8 | 1820 |
| IOC | 138.79 | 145 |
| IPCALAB | 1559.5 | 1560 |
| IRCTC | 811.65 | 840 |
| ITC | 472.85 | 480 |
| JINDALSTEL | 887 | 930 |
| JKCEMENT | 4062.55 | 4150 |
| JSWSTEEL | 957.25 | 990 |
| JUBLFOOD | 636.85 | 630 |
| KOTAKBANK | 1721.4 | 1760 |
| LALPATHLAB | 3029.9 | 3100 |
| LAURUSLABS | 489.55 | 490 |
| LICHSGFIN | 616.95 | 640 |
| LT | 3591.35 | 3600 |
| LTF | 138.57 | 145 |
| LTIM | 6005.05 | 5900 |
| LTTS | 5278.85 | 5200 |
| LUPIN | 2090.1 | 2120 |
| M&M | 2898.55 | 2900 |
| M&MFIN | 265.4 | 275 |
| MANAPPURAM | 157.99 | 155 |
| MARICO | 595.55 | 620 |
| MARUTI | 11143.1 | 11300 |
| MCX | 6104.35 | 6300 |
| METROPOLIS | 2174.3 | 2140 |
| MFSL | 1223.3 | 1220 |
| MGL | 1370.2 | 1420 |
| MOTHERSON | 166.04 | 180 |
| MPHASIS | 2853.45 | 2900 |
| MRF | 120924.15 | 122000 |
| MUTHOOTFIN | 1792.7 | 1860 |
| NATIONALUM | 225.91 | 227.5 |
| NAUKRI | 7821.3 | 7900 |
| NAVINFLUOR | 3322.05 | 3500 |
| NESTLEIND | 2256.2 | 2300 |
| NMDC | 224.76 | 230 |
| NTPC | 380.3 | 400 |
| OBEROIRLTY | 1989.65 | 2000 |
| OFSS | 11855.75 | 11500 |
| ONGC | 256.15 | 265 |
| PAGEIND | 47107.2 | 47000 |
| PEL | 1023.15 | 1060 |
| PERSISTENT | 5680.15 | 5500 |
| PETRONET | 322.7 | 333 |
| PFC | 467.15 | 470 |
| PIDILITIND | 3040.3 | 3140 |
| PIIND | 4548.9 | 4600 |
| PNB | 103.73 | 105 |
| POLYCAB | 6502.75 | 6700 |
| POWERGRID | 322.7 | 320 |
| PVRINOX | 1478.6 | 1500 |
| RAMCOCEM | 910 | 890 |
| RBLBANK | 159.68 | 167.5 |
| RECLTD | 514.5 | 530 |
| RELIANCE | 1274.25 | 1320 |
| SAIL | 114.17 | 120 |
| SBICARD | 679.25 | 695 |
| SBILIFE | 1562.45 | 1600 |
| SBIN | 826.7 | 840 |
| SHREECEM | 24372.8 | 24500 |
| SHRIRAMFIN | 2931.2 | 3100 |
| SIEMENS | 6799.45 | 7000 |
| SRF | 2253.05 | 2300 |
| SUNPHARMA | 1800.85 | 1820 |
| SUNTV | 730.6 | 740 |
| SYNGENE | 889.3 | 890 |
| TATACHEM | 1072.35 | 1120 |
| TATACOMM | 1759.65 | 1800 |
| TATACONSUM | 967.55 | 990 |
| TATAMOTORS | 784.85 | 820 |
| TATAPOWER | 414.15 | 435 |
| TATASTEEL | 144.17 | 150 |
| TCS | 4197.4 | 4150 |
| TECHM | 1687 | 1680 |
| TITAN | 3198.45 | 3200 |
| TORNTPHARM | 3151.05 | 3200 |
| TRENT | 6528.55 | 6700 |
| TVSMOTOR | 2440.3 | 2500 |
| UBL | 1882.45 | 1920 |
| ULTRACEMCO | 10892 | 11000 |
| UNITDSPR | 1446.8 | 1460 |
| UPL | 527.75 | 540 |
| VEDL | 444.75 | 460 |
| VOLTAS | 1699.6 | 1720 |
| WIPRO | 570.65 | 560 |
| ZYDUSLIFE | 949.75 | 1000 |
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:
- Find the difference between stock price and strike price
- Multiply the result by open interest at that strike
- Add together the dollar value for the put and call at that strike
- Repeat for each strike price
- 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.
