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GMRAIRPORT

Gmr Airports Limited
102.74 -2.14 (-2.04%)
L: 102.65 H: 105.99
Max Pain - GMRAIRPORT
16 Dec 2025 02:28 PM IST
Live


Strike  78  has a total call value of 0  versus a total put value of  172,783,305,000 Combined total value = 172,783,305,000

Strike  79  has a total call value of 0  versus a total put value of  165,162,420,000 Combined total value = 165,162,420,000

Strike  80  has a total call value of 0  versus a total put value of  157,541,535,000 Combined total value = 157,541,535,000

Strike  81  has a total call value of 697,500  versus a total put value of  149,945,062,500 Combined total value = 149,945,760,000

Strike  82  has a total call value of 1,395,000  versus a total put value of  142,348,590,000 Combined total value = 142,349,985,000

Strike  83  has a total call value of 2,092,500  versus a total put value of  134,761,882,500 Combined total value = 134,763,975,000

Strike  84  has a total call value of 2,790,000  versus a total put value of  127,175,175,000 Combined total value = 127,177,965,000

Strike  85  has a total call value of 3,487,500  versus a total put value of  119,589,165,000 Combined total value = 119,592,652,500

Strike  86  has a total call value of 7,672,500  versus a total put value of  112,003,155,000 Combined total value = 112,010,827,500

Strike  87  has a total call value of 11,857,500  versus a total put value of  104,424,120,000 Combined total value = 104,435,977,500

Strike  88  has a total call value of 16,042,500  versus a total put value of  96,849,967,500 Combined total value = 96,866,010,000

Strike  89  has a total call value of 21,622,500  versus a total put value of  89,281,395,000 Combined total value = 89,303,017,500

Strike  90  has a total call value of 29,992,500  versus a total put value of  81,779,085,000 Combined total value = 81,809,077,500

Strike  91  has a total call value of 70,447,500  versus a total put value of  74,453,242,500 Combined total value = 74,523,690,000

Strike  92  has a total call value of 114,390,000  versus a total put value of  67,157,392,500 Combined total value = 67,271,782,500

Strike  93  has a total call value of 166,702,500  versus a total put value of  59,901,997,500 Combined total value = 60,068,700,000

Strike  94  has a total call value of 221,805,000  versus a total put value of  52,689,847,500 Combined total value = 52,911,652,500

Strike  95  has a total call value of 283,882,500  versus a total put value of  45,657,652,500 Combined total value = 45,941,535,000

Strike  96  has a total call value of 506,385,000  versus a total put value of  39,012,570,000 Combined total value = 39,518,955,000

Strike  97  has a total call value of 774,922,500  versus a total put value of  32,642,302,500 Combined total value = 33,417,225,000

Strike  98  has a total call value of 1,213,650,000  versus a total put value of  27,140,422,500 Combined total value = 28,354,072,500

Strike  99  has a total call value of 1,793,272,500  versus a total put value of  22,338,832,500 Combined total value = 24,132,105,000

Strike  100  has a total call value of 2,569,590,000  versus a total put value of  18,282,172,500 Combined total value = 20,851,762,500

Strike  101  has a total call value of 3,940,177,500  versus a total put value of  15,245,257,500 Combined total value = 19,185,435,000

Strike  102  has a total call value of 5,715,315,000  versus a total put value of  12,412,012,500 Combined total value = 18,127,327,500

Strike  103  has a total call value of 8,294,670,000  versus a total put value of  9,883,575,000 Combined total value = 18,178,245,000

Strike  104  has a total call value of 11,116,057,500  versus a total put value of  7,597,170,000 Combined total value = 18,713,227,500

Strike  105  has a total call value of 14,528,227,500  versus a total put value of  5,621,850,000 Combined total value = 20,150,077,500

Strike  106  has a total call value of 19,666,710,000  versus a total put value of  4,209,412,500 Combined total value = 23,876,122,500

Strike  107  has a total call value of 25,444,102,500  versus a total put value of  3,086,437,500 Combined total value = 28,530,540,000

Strike  108  has a total call value of 31,919,692,500  versus a total put value of  2,213,865,000 Combined total value = 34,133,557,500

Strike  109  has a total call value of 39,159,742,500  versus a total put value of  1,494,045,000 Combined total value = 40,653,787,500

Strike  110  has a total call value of 46,977,322,500  versus a total put value of  883,035,000 Combined total value = 47,860,357,500

Strike  111  has a total call value of 57,501,202,500  versus a total put value of  502,200,000 Combined total value = 58,003,402,500

Strike  112  has a total call value of 68,647,950,000  versus a total put value of  401,062,500 Combined total value = 69,049,012,500

Strike  113  has a total call value of 80,202,735,000  versus a total put value of  312,480,000 Combined total value = 80,515,215,000

Strike  114  has a total call value of 92,006,527,500  versus a total put value of  223,897,500 Combined total value = 92,230,425,000

Strike  115  has a total call value of 103,960,980,000  versus a total put value of  156,937,500 Combined total value = 104,117,917,500

Strike  116  has a total call value of 116,581,545,000  versus a total put value of  117,877,500 Combined total value = 116,699,422,500

Strike  117  has a total call value of 129,379,972,500  versus a total put value of  87,885,000 Combined total value = 129,467,857,500

Strike  118  has a total call value of 142,283,025,000  versus a total put value of  58,590,000 Combined total value = 142,341,615,000

Strike  119  has a total call value of 155,419,042,500  versus a total put value of  29,295,000 Combined total value = 155,448,337,500

Strike  120  has a total call value of 168,555,060,000  versus a total put value of  0 Combined total value = 168,555,060,000

Strike  121  has a total call value of 182,162,587,500  versus a total put value of  0 Combined total value = 182,162,587,500

Strike  122  has a total call value of 195,770,115,000  versus a total put value of  0 Combined total value = 195,770,115,000

Max-Pain Table for Stocks
  Note:- click on symbol to see more detailed view
Max Pain Table (Stocks)
Symbol Symbol Ltp Max Pain
360ONE 1130.3 1140
ABB 5248 5200
ABCAPITAL 348.05 350
ADANIENSOL 995.95 990
ADANIENT 2241.2 2300
ADANIGREEN 1025.2 1020
ADANIPORTS 1501.3 1500
ALKEM 5662.5 5700
AMBER 6770 6800
AMBUJACEM 547.8 550
ANGELONE 2535 2600
APLAPOLLO 1727.3 1740
APOLLOHOSP 7037 7200
ASHOKLEY 167.66 160
ASIANPAINT 2786 2800
ASTRAL 1460.1 1460
AUBANK 982 960
AUROPHARMA 1181.8 1200
AXISBANK 1225.6 1240
BAJAJ-AUTO 8985.5 9000
BAJAJFINSV 2035.7 2060
BAJFINANCE 998.7 1020
BANDHANBNK 149.16 150
BANKBARODA 282.5 290
BANKINDIA 139.52 143
BDL 1351.6 1400
BEL 386.55 400
BHARATFORG 1415 1400
BHARTIARTL 2100.2 2100
BHEL 278.5 280
BIOCON 384.45 390
BLUESTARCO 1806.3 1780
BOSCHLTD 36135 36500
BPCL 365.5 362.5
BRITANNIA 6068 6000
BSE 2599 2700
CAMS 751 780
CANBK 147.24 148
CDSL 1499.4 1560
CGPOWER 670.3 680
CHOLAFIN 1715.9 1700
CIPLA 1498.1 1520
COALINDIA 380.45 382.5
COFORGE 1851.4 1840
COLPAL 2161.1 2180
CONCOR 498.8 520
CROMPTON 252.6 265
CUMMINSIND 4489 4500
CYIENT 1151 1160
DABUR 497 505
DALBHARAT 2065.4 2040
DELHIVERY 400.25 410
DIVISLAB 6287 6400
DIXON 13623 13750
DLF 690.2 720
DMART 3839.3 3900
DRREDDY 1279.4 1270
EICHERMOT 7075.5 7100
ETERNAL 287.6 295
EXIDEIND 366 375
FEDERALBNK 262.9 260
FORTIS 877.25 890
GAIL 167.8 175
GLENMARK 1963.7 1940
GMRAIRPORT 102.74 102
GODREJCP 1179.6 1160
GODREJPROP 2020.8 2080
GRASIM 2799.7 2800
HAL 4249.6 4500
HAVELLS 1411.2 1440
HCLTECH 1648.4 1660
HDFCAMC 2584.7 2625
HDFCBANK 995.5 1000
HDFCLIFE 766.8 770
HEROMOTOCO 5942 6050
HFCL 65.66 68
HINDALCO 833.45 820
HINDPETRO 463 460
HINDUNILVR 2282.9 2300
HINDZINC 568.35 540
HUDCO 210.84 220
ICICIBANK 1362.1 1380
ICICIGI 1948.1 1980
ICICIPRULI 639.65 630
IDEA 11.23 11
IDFCFIRSTB 83.51 81
IEX 140.35 145
IIFL 564.75 560
INDHOTEL 724.25 740
INDIANB 771.05 820
INDIGO 4970 5000
INDUSINDBK 843.25 850
INDUSTOWER 406.5 410
INFY 1590.8 1600
INOXWIND 125.87 130
IOC 166.95 165
IRCTC 669 690
IREDA 133.62 140
IRFC 112.01 116
ITC 402.3 405
JINDALSTEL 1008.1 1030
JIOFIN 295.25 305
JSWENERGY 476.5 490
JSWSTEEL 1085 1130
JUBLFOOD 561.3 580
KALYANKJIL 476.85 480
KAYNES 4189 4400
KEI 4149.9 4100
KFINTECH 1034.8 1060
KOTAKBANK 2183.7 2160
KPITTECH 1177.8 1200
LAURUSLABS 995.2 1000
LICHSGFIN 526.5 550
LICI 853 880
LODHA 1075.6 1120
LT 4056.2 4040
LTF 300.3 302.5
LTIM 6207 6150
LUPIN 2088 2080
M&M 3621.8 3650
MANAPPURAM 283.35 280
MANKIND 2106.3 2200
MARICO 737.5 730
MARUTI 16395 16300
MAXHEALTH 1079.1 1100
MAZDOCK 2412.9 2600
MCX 10145 10100
MFSL 1674.6 1700
MOTHERSON 119.75 116
MPHASIS 2851.2 2900
MUTHOOTFIN 3837.3 3750
NATIONALUM 275 270
NAUKRI 1346.5 1360
NBCC 111.6 113
NCC 158.1 167.5
NESTLEIND 1241.8 1240
NHPC 75.82 78
NMDC 76.87 77
NTPC 319.65 325
NUVAMA 7231 7200
NYKAA 245 255
OBEROIRLTY 1631 1660
OFSS 7845.5 8000
OIL 401.05 410
ONGC 230.91 240
PAGEIND 36250 37500
PATANJALI 533.2 545
PAYTM 1285 1300
PERSISTENT 6209 6200
PETRONET 264.25 277.5
PFC 336 355
PGEL 566.65 560
PHOENIXLTD 1777 1740
PIDILITIND 1471 1480
PIIND 3223.9 3350
PNB 116.96 120
PNBHOUSING 910.05 910
POLICYBZR 1822.1 1860
POLYCAB 7278.5 7300
POWERGRID 260.55 270
POWERINDIA 19215 19500
PPLPHARMA 169.2 180
PRESTIGE 1615.9 1660
RBLBANK 298.75 310
RECLTD 335.15 355
RELIANCE 1542.8 1540
RVNL 308.85 315
SAIL 128.64 132
SAMMAANCAP 146.6 155
SBICARD 848.15 870
SBILIFE 2042.8 2020
SBIN 963.7 965
SHREECEM 25940 26500
SHRIRAMFIN 850.7 850
SIEMENS 3151.5 3200
SOLARINDS 11914 12500
SONACOMS 485 500
SRF 3014.7 2950
SUNPHARMA 1785.3 1800
SUPREMEIND 3395 3400
SUZLON 52.45 54
SYNGENE 650.25 650
TATACONSUM 1168.9 1170
TATAELXSI 5002 5100
TATAMOTORS 0 320
TATAPOWER 378.85 390
TATASTEEL 169.53 170
TATATECH 650 680
TCS 3198.4 3200
TECHM 1573.3 1540
TIINDIA 2621.5 2700
TITAGARH 788.85 800
TITAN 3909.6 3860
TMPV 344.4 360
TORNTPHARM 3774.5 3800
TORNTPOWER 1287.7 1280
TRENT 4105.2 4200
TVSMOTOR 3618.8 3600
ULTRACEMCO 11557 11700
UNIONBANK 152.69 152.5
UNITDSPR 1447.3 1440
UNOMINDA 1256 1280
UPL 748.2 750
VBL 477.2 470
VEDL 547.35 535
VOLTAS 1389.9 1360
WIPRO 259.14 255
YESBANK 21.45 22
ZYDUSLIFE 916.3 930

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.