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GLENMARK

Glenmark Pharmaceuticals
1965.1 -20.50 (-1.03%)
L: 1957.9 H: 1992.4
Max Pain - GLENMARK
16 Dec 2025 03:16 PM IST
Live


Strike  1520  has a total call value of 0  versus a total put value of  112,044,750,000 Combined total value = 112,044,750,000

Strike  1540  has a total call value of 0  versus a total put value of  105,954,000,000 Combined total value = 105,954,000,000

Strike  1560  has a total call value of 0  versus a total put value of  99,863,250,000 Combined total value = 99,863,250,000

Strike  1580  has a total call value of 3,750,000  versus a total put value of  93,801,000,000 Combined total value = 93,804,750,000

Strike  1600  has a total call value of 7,500,000  versus a total put value of  87,738,750,000 Combined total value = 87,746,250,000

Strike  1620  has a total call value of 13,500,000  versus a total put value of  81,778,500,000 Combined total value = 81,792,000,000

Strike  1640  has a total call value of 21,000,000  versus a total put value of  75,833,250,000 Combined total value = 75,854,250,000

Strike  1660  has a total call value of 30,000,000  versus a total put value of  69,909,000,000 Combined total value = 69,939,000,000

Strike  1680  has a total call value of 39,000,000  versus a total put value of  64,065,750,000 Combined total value = 64,104,750,000

Strike  1700  has a total call value of 104,250,000  versus a total put value of  58,290,000,000 Combined total value = 58,394,250,000

Strike  1720  has a total call value of 171,750,000  versus a total put value of  52,701,750,000 Combined total value = 52,873,500,000

Strike  1740  has a total call value of 239,250,000  versus a total put value of  47,151,000,000 Combined total value = 47,390,250,000

Strike  1760  has a total call value of 306,750,000  versus a total put value of  41,700,750,000 Combined total value = 42,007,500,000

Strike  1780  has a total call value of 374,250,000  versus a total put value of  36,385,500,000 Combined total value = 36,759,750,000

Strike  1800  has a total call value of 444,000,000  versus a total put value of  31,152,000,000 Combined total value = 31,596,000,000

Strike  1820  has a total call value of 547,500,000  versus a total put value of  26,163,000,000 Combined total value = 26,710,500,000

Strike  1840  has a total call value of 662,250,000  versus a total put value of  21,276,750,000 Combined total value = 21,939,000,000

Strike  1860  has a total call value of 918,000,000  versus a total put value of  16,782,750,000 Combined total value = 17,700,750,000

Strike  1880  has a total call value of 1,429,500,000  versus a total put value of  12,725,250,000 Combined total value = 14,154,750,000

Strike  1900  has a total call value of 2,005,500,000  versus a total put value of  8,910,000,000 Combined total value = 10,915,500,000

Strike  1920  has a total call value of 3,201,750,000  versus a total put value of  6,144,000,000 Combined total value = 9,345,750,000

Strike  1940  has a total call value of 4,542,000,000  versus a total put value of  3,944,250,000 Combined total value = 8,486,250,000

Strike  1960  has a total call value of 6,272,250,000  versus a total put value of  2,367,000,000 Combined total value = 8,639,250,000

Strike  1980  has a total call value of 8,832,000,000  versus a total put value of  1,411,500,000 Combined total value = 10,243,500,000

Strike  2000  has a total call value of 12,082,500,000  versus a total put value of  840,000,000 Combined total value = 12,922,500,000

Strike  2020  has a total call value of 17,853,750,000  versus a total put value of  675,750,000 Combined total value = 18,529,500,000

Strike  2040  has a total call value of 23,855,250,000  versus a total put value of  546,000,000 Combined total value = 24,401,250,000

Strike  2060  has a total call value of 30,129,000,000  versus a total put value of  440,250,000 Combined total value = 30,569,250,000

Strike  2080  has a total call value of 36,664,500,000  versus a total put value of  349,500,000 Combined total value = 37,014,000,000

Strike  2100  has a total call value of 43,336,500,000  versus a total put value of  259,500,000 Combined total value = 43,596,000,000

Strike  2120  has a total call value of 50,489,250,000  versus a total put value of  198,000,000 Combined total value = 50,687,250,000

Strike  2140  has a total call value of 57,933,000,000  versus a total put value of  148,500,000 Combined total value = 58,081,500,000

Strike  2160  has a total call value of 65,433,750,000  versus a total put value of  99,000,000 Combined total value = 65,532,750,000

Strike  2180  has a total call value of 73,076,250,000  versus a total put value of  49,500,000 Combined total value = 73,125,750,000

Strike  2200  has a total call value of 80,731,500,000  versus a total put value of  0 Combined total value = 80,731,500,000

Strike  2220  has a total call value of 88,710,750,000  versus a total put value of  0 Combined total value = 88,710,750,000

Strike  2240  has a total call value of 96,690,000,000  versus a total put value of  0 Combined total value = 96,690,000,000

Strike  2260  has a total call value of 104,823,750,000  versus a total put value of  0 Combined total value = 104,823,750,000

Strike  2280  has a total call value of 112,957,500,000  versus a total put value of  0 Combined total value = 112,957,500,000

Max-Pain Table for Stocks
  Note:- click on symbol to see more detailed view
Max Pain Table (Stocks)
Symbol Symbol Ltp Max Pain
360ONE 1132 1140
ABB 5238.5 5200
ABCAPITAL 348 350
ADANIENSOL 992 990
ADANIENT 2245.1 2300
ADANIGREEN 1028.2 1020
ADANIPORTS 1498.7 1500
ALKEM 5662 5700
AMBER 6780 6800
AMBUJACEM 548 555
ANGELONE 2528.6 2600
APLAPOLLO 1731.8 1740
APOLLOHOSP 7053.5 7200
ASHOKLEY 167.87 160
ASIANPAINT 2788.1 2800
ASTRAL 1460.6 1460
AUBANK 981 960
AUROPHARMA 1177.8 1200
AXISBANK 1218.5 1240
BAJAJ-AUTO 8990.5 9000
BAJAJFINSV 2032.3 2060
BAJFINANCE 997.8 1020
BANDHANBNK 149.29 150
BANKBARODA 282.75 290
BANKINDIA 139.5 143
BDL 1356.3 1400
BEL 387.3 400
BHARATFORG 1414.7 1400
BHARTIARTL 2101.7 2100
BHEL 279.35 280
BIOCON 384.65 390
BLUESTARCO 1813.3 1780
BOSCHLTD 36210 36500
BPCL 368.35 362.5
BRITANNIA 6065 6000
BSE 2610.9 2700
CAMS 752.9 780
CANBK 147 148
CDSL 1501 1560
CGPOWER 673.05 680
CHOLAFIN 1716.4 1700
CIPLA 1499.7 1520
COALINDIA 381.2 384.75
COFORGE 1866.5 1840
COLPAL 2161 2180
CONCOR 497.95 520
CROMPTON 252.5 265
CUMMINSIND 4494 4500
CYIENT 1149.9 1160
DABUR 496.85 505
DALBHARAT 2065.8 2040
DELHIVERY 401.5 410
DIVISLAB 6328.5 6400
DIXON 13625 13750
DLF 691.4 720
DMART 3860.9 3900
DRREDDY 1275 1270
EICHERMOT 7053 7100
ETERNAL 284.25 295
EXIDEIND 366.25 375
FEDERALBNK 262.25 260
FORTIS 874.65 890
GAIL 168.3 175
GLENMARK 1965.1 1940
GMRAIRPORT 103.59 102
GODREJCP 1181.2 1160
GODREJPROP 2021.8 2080
GRASIM 2796.5 2800
HAL 4259.8 4500
HAVELLS 1410.7 1440
HCLTECH 1652 1660
HDFCAMC 2582.3 2625
HDFCBANK 993.8 1000
HDFCLIFE 764.05 770
HEROMOTOCO 5945 6050
HFCL 65.4 68
HINDALCO 836.6 820
HINDPETRO 465.4 460
HINDUNILVR 2278.2 2300
HINDZINC 567.15 540
HUDCO 211.43 220
ICICIBANK 1364 1380
ICICIGI 1949.4 1980
ICICIPRULI 637 630
IDEA 11.24 11
IDFCFIRSTB 83.49 82
IEX 140.38 145
IIFL 567.5 560
INDHOTEL 725.2 740
INDIANB 772.45 820
INDIGO 4971.5 5000
INDUSINDBK 845.55 850
INDUSTOWER 407.9 410
INFY 1590.9 1600
INOXWIND 127 130
IOC 167.86 166
IRCTC 671.35 690
IREDA 133.86 140
IRFC 112.05 116
ITC 401.45 405
JINDALSTEL 1011.4 1030
JIOFIN 295.05 305
JSWENERGY 478.8 490
JSWSTEEL 1082.6 1130
JUBLFOOD 560.1 580
KALYANKJIL 478.4 480
KAYNES 4189 4400
KEI 4159 4100
KFINTECH 1034.1 1060
KOTAKBANK 2181.9 2160
KPITTECH 1177.7 1200
LAURUSLABS 1001.8 1000
LICHSGFIN 526.4 550
LICI 855.05 880
LODHA 1074.4 1120
LT 4064.2 4040
LTF 300.8 302.5
LTIM 6212 6150
LUPIN 2090.2 2080
M&M 3620.1 3650
MANAPPURAM 283.8 280
MANKIND 2105.2 2200
MARICO 738.3 740
MARUTI 16346 16200
MAXHEALTH 1070.7 1100
MAZDOCK 2410 2600
MCX 10163 10100
MFSL 1668.8 1700
MOTHERSON 119.51 116
MPHASIS 2859.7 2900
MUTHOOTFIN 3846.1 3750
NATIONALUM 277.2 270
NAUKRI 1345.8 1360
NBCC 111.7 113
NCC 157.95 167.5
NESTLEIND 1240.2 1240
NHPC 76.01 78
NMDC 77.13 77
NTPC 320.85 325
NUVAMA 7188.5 7200
NYKAA 247.3 255
OBEROIRLTY 1625.1 1660
OFSS 7840.5 8000
OIL 402.5 410
ONGC 231.97 240
PAGEIND 36355 37500
PATANJALI 536.95 545
PAYTM 1280.2 1300
PERSISTENT 6265.5 6200
PETRONET 264.55 277.5
PFC 336.75 355
PGEL 569.55 560
PHOENIXLTD 1780.3 1740
PIDILITIND 1470.9 1480
PIIND 3259.3 3350
PNB 116.95 120
PNBHOUSING 912.5 910
POLICYBZR 1820.2 1860
POLYCAB 7329 7300
POWERGRID 260.2 270
POWERINDIA 19305 19500
PPLPHARMA 168.56 180
PRESTIGE 1625.4 1660
RBLBANK 300.9 310
RECLTD 335.15 355
RELIANCE 1540.1 1540
RVNL 309.15 315
SAIL 129.8 133
SAMMAANCAP 146.72 155
SBICARD 847.5 870
SBILIFE 2034.9 2020
SBIN 960.1 965
SHREECEM 25980 26500
SHRIRAMFIN 846.65 850
SIEMENS 3160.4 3200
SOLARINDS 11921 12500
SONACOMS 485.15 500
SRF 3015.6 2950
SUNPHARMA 1780.9 1800
SUPREMEIND 3399.2 3400
SUZLON 52.63 54
SYNGENE 646.75 650
TATACONSUM 1169.5 1170
TATAELXSI 4998 5100
TATAMOTORS 0 320
TATAPOWER 379.6 390
TATASTEEL 169.74 170
TATATECH 650.65 680
TCS 3205.1 3200
TECHM 1580.1 1540
TIINDIA 2620.2 2700
TITAGARH 790.1 800
TITAN 3930 3860
TMPV 345.4 360
TORNTPHARM 3765.3 3800
TORNTPOWER 1282.5 1300
TRENT 4107.1 4200
TVSMOTOR 3613.2 3600
ULTRACEMCO 11517 11700
UNIONBANK 153.23 152.5
UNITDSPR 1450.8 1440
UNOMINDA 1258.5 1280
UPL 749.95 750
VBL 476.7 470
VEDL 570.4 540
VOLTAS 1390.3 1380
WIPRO 259.13 255
YESBANK 21.51 22
ZYDUSLIFE 914.4 930

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.