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GRASIM

Grasim Industries Ltd
2812.1 +4.50 (0.16%)
L: 2790.1 H: 2831.1
Max Pain - GRASIM
19 Dec 2025 01:26 PM IST
Live


Strike  2400  has a total call value of 0  versus a total put value of  70,480,000,000 Combined total value = 70,480,000,000

Strike  2420  has a total call value of 0  versus a total put value of  65,787,500,000 Combined total value = 65,787,500,000

Strike  2440  has a total call value of 0  versus a total put value of  61,096,000,000 Combined total value = 61,096,000,000

Strike  2460  has a total call value of 0  versus a total put value of  56,404,500,000 Combined total value = 56,404,500,000

Strike  2480  has a total call value of 0  versus a total put value of  51,714,500,000 Combined total value = 51,714,500,000

Strike  2500  has a total call value of 0  versus a total put value of  47,035,500,000 Combined total value = 47,035,500,000

Strike  2520  has a total call value of 2,000,000  versus a total put value of  42,669,000,000 Combined total value = 42,671,000,000

Strike  2540  has a total call value of 4,000,000  versus a total put value of  38,377,500,000 Combined total value = 38,381,500,000

Strike  2560  has a total call value of 7,000,000  versus a total put value of  34,261,500,000 Combined total value = 34,268,500,000

Strike  2580  has a total call value of 10,500,000  versus a total put value of  30,196,500,000 Combined total value = 30,207,000,000

Strike  2600  has a total call value of 14,500,000  versus a total put value of  26,156,500,000 Combined total value = 26,171,000,000

Strike  2620  has a total call value of 32,500,000  versus a total put value of  22,560,500,000 Combined total value = 22,593,000,000

Strike  2640  has a total call value of 63,500,000  versus a total put value of  19,037,500,000 Combined total value = 19,101,000,000

Strike  2660  has a total call value of 94,500,000  versus a total put value of  15,587,500,000 Combined total value = 15,682,000,000

Strike  2680  has a total call value of 132,000,000  versus a total put value of  12,320,000,000 Combined total value = 12,452,000,000

Strike  2700  has a total call value of 177,500,000  versus a total put value of  9,127,000,000 Combined total value = 9,304,500,000

Strike  2720  has a total call value of 446,500,000  versus a total put value of  7,172,500,000 Combined total value = 7,619,000,000

Strike  2740  has a total call value of 775,500,000  versus a total put value of  5,332,500,000 Combined total value = 6,108,000,000

Strike  2760  has a total call value of 1,176,500,000  versus a total put value of  3,610,000,000 Combined total value = 4,786,500,000

Strike  2780  has a total call value of 1,823,000,000  versus a total put value of  2,645,500,000 Combined total value = 4,468,500,000

Strike  2800  has a total call value of 2,559,000,000  versus a total put value of  1,822,500,000 Combined total value = 4,381,500,000

Strike  2820  has a total call value of 4,055,500,000  versus a total put value of  1,390,000,000 Combined total value = 5,445,500,000

Strike  2840  has a total call value of 5,699,500,000  versus a total put value of  1,073,500,000 Combined total value = 6,773,000,000

Strike  2860  has a total call value of 7,624,500,000  versus a total put value of  885,500,000 Combined total value = 8,510,000,000

Strike  2880  has a total call value of 9,673,500,000  versus a total put value of  730,000,000 Combined total value = 10,403,500,000

Strike  2900  has a total call value of 11,794,500,000  versus a total put value of  575,000,000 Combined total value = 12,369,500,000

Strike  2920  has a total call value of 14,517,000,000  versus a total put value of  499,000,000 Combined total value = 15,016,000,000

Strike  2940  has a total call value of 17,466,000,000  versus a total put value of  425,500,000 Combined total value = 17,891,500,000

Strike  2960  has a total call value of 20,556,000,000  versus a total put value of  369,500,000 Combined total value = 20,925,500,000

Strike  2980  has a total call value of 23,736,500,000  versus a total put value of  315,000,000 Combined total value = 24,051,500,000

Strike  3000  has a total call value of 26,956,000,000  versus a total put value of  261,000,000 Combined total value = 27,217,000,000

Strike  3020  has a total call value of 30,900,000,000  versus a total put value of  230,500,000 Combined total value = 31,130,500,000

Strike  3040  has a total call value of 34,865,000,000  versus a total put value of  200,500,000 Combined total value = 35,065,500,000

Strike  3060  has a total call value of 38,862,000,000  versus a total put value of  170,500,000 Combined total value = 39,032,500,000

Strike  3080  has a total call value of 42,881,500,000  versus a total put value of  142,000,000 Combined total value = 43,023,500,000

Strike  3100  has a total call value of 46,928,500,000  versus a total put value of  113,500,000 Combined total value = 47,042,000,000

Strike  3120  has a total call value of 51,036,500,000  versus a total put value of  87,000,000 Combined total value = 51,123,500,000

Strike  3140  has a total call value of 55,191,500,000  versus a total put value of  65,000,000 Combined total value = 55,256,500,000

Strike  3160  has a total call value of 59,370,500,000  versus a total put value of  43,000,000 Combined total value = 59,413,500,000

Strike  3180  has a total call value of 63,551,500,000  versus a total put value of  21,500,000 Combined total value = 63,573,000,000

Strike  3200  has a total call value of 67,732,500,000  versus a total put value of  0 Combined total value = 67,732,500,000

Strike  3220  has a total call value of 71,919,500,000  versus a total put value of  0 Combined total value = 71,919,500,000

Strike  3240  has a total call value of 76,106,500,000  versus a total put value of  0 Combined total value = 76,106,500,000

Max-Pain Table for Stocks
  Note:- click on symbol to see more detailed view
Max Pain Table (Stocks)
Symbol Symbol Ltp Max Pain
360ONE 1135.1 1140
ABB 5135.5 5200
ABCAPITAL 347.25 345
ADANIENSOL 978.4 980
ADANIENT 2219 2300
ADANIGREEN 1012.7 1020
ADANIPORTS 1495.3 1500
ALKEM 5553.5 5650
AMBER 6635 6700
AMBUJACEM 536 550
ANGELONE 2482 2550
APLAPOLLO 1807.8 1760
APOLLOHOSP 6999.5 7100
ASHOKLEY 173.5 164
ASIANPAINT 2791.8 2800
ASTRAL 1414.6 1440
AUBANK 986.55 960
AUROPHARMA 1220.1 1220
AXISBANK 1233.9 1240
BAJAJ-AUTO 8979 9000
BAJAJFINSV 2038 2060
BAJFINANCE 1005 1020
BANDHANBNK 149.62 150
BANKBARODA 290.2 290
BANKINDIA 142.61 143
BDL 1356.5 1400
BEL 390.95 400
BHARATFORG 1422.2 1400
BHARTIARTL 2086.2 2100
BHEL 275 280
BIOCON 397.4 395
BLUESTARCO 1775.9 1780
BOSCHLTD 35780 36000
BPCL 363.55 365
BRITANNIA 6096.5 6000
BSE 2708.7 2700
CAMS 753.2 770
CANBK 147.75 150
CDSL 1493.7 1540
CGPOWER 667.3 680
CHOLAFIN 1624.5 1700
CIPLA 1510.3 1520
COALINDIA 384.65 385
COFORGE 1846.1 1840
COLPAL 2096.1 2160
CONCOR 498 520
CROMPTON 252.1 260
CUMMINSIND 4350.4 4400
CYIENT 1145.2 1140
DABUR 492.75 500
DALBHARAT 2016.9 2020
DELHIVERY 404.25 410
DIVISLAB 6480.5 6500
DIXON 13201 13500
DLF 684.85 710
DMART 3790.8 3900
DRREDDY 1274.2 1270
EICHERMOT 7214 7100
ETERNAL 287.65 295
EXIDEIND 360.7 370
FEDERALBNK 266.95 260
FORTIS 886 890
GAIL 168.48 175
GLENMARK 1969 1940
GMRAIRPORT 100.99 102
GODREJCP 1177.9 1160
GODREJPROP 2021.4 2060
GRASIM 2812.1 2800
HAL 4298.5 4450
HAVELLS 1407.5 1440
HCLTECH 1639.4 1660
HDFCAMC 2654.8 2675
HDFCBANK 984.3 990
HDFCLIFE 766.55 770
HEROMOTOCO 5764 5900
HFCL 63.95 67
HINDALCO 849.2 820
HINDPETRO 467.7 460
HINDUNILVR 2281.2 2300
HINDZINC 587.45 560
HUDCO 209.29 217.5
ICICIBANK 1352.5 1370
ICICIGI 1944.2 1960
ICICIPRULI 649.55 630
IDEA 11.62 11
IDFCFIRSTB 84.58 82
IEX 140.74 145
IIFL 560.7 560
INDHOTEL 727.1 730
INDIANB 777.8 810
INDIGO 5158 5100
INDUSINDBK 839.65 850
INDUSTOWER 411.25 410
INFY 1632.5 1600
INOXWIND 125.34 130
IOC 161.35 161
IRCTC 668.75 690
IREDA 132.12 140
IRFC 112.1 115
ITC 402 405
JINDALSTEL 986.1 1020
JIOFIN 296.85 305
JSWENERGY 474.75 490
JSWSTEEL 1080.1 1120
JUBLFOOD 564 580
KALYANKJIL 475.8 480
KAYNES 4132 4300
KEI 4193 4100
KFINTECH 1082.5 1080
KOTAKBANK 2163.2 2160
KPITTECH 1192.1 1200
LAURUSLABS 1039.2 1010
LICHSGFIN 529.05 550
LICI 848.5 870
LODHA 1079.7 1100
LT 4081.5 4040
LTF 298.85 300
LTIM 6168 6100
LUPIN 2123.7 2100
M&M 3606.7 3650
MANAPPURAM 288.25 280
MANKIND 2156.4 2200
MARICO 741 730
MARUTI 16442 16300
MAXHEALTH 1077 1100
MAZDOCK 2386.3 2500
MCX 10287 10100
MFSL 1675.8 1680
MOTHERSON 120 116
MPHASIS 2879.8 2900
MUTHOOTFIN 3753 3750
NATIONALUM 277.55 272.5
NAUKRI 1327.6 1360
NBCC 112.21 111
NCC 154.65 162.5
NESTLEIND 1244.1 1240
NHPC 75.51 78
NMDC 75.88 77
NTPC 318.2 325
NUVAMA 7080.5 7200
NYKAA 246.45 250
OBEROIRLTY 1661.3 1660
OFSS 7709 7900
OIL 404.65 410
ONGC 232.43 237.5
PAGEIND 35785 36500
PATANJALI 559.1 550
PAYTM 1316.8 1300
PERSISTENT 6324 6300
PETRONET 272.8 278
PFC 337.1 355
PGEL 573.3 560
PHOENIXLTD 1818.8 1760
PIDILITIND 1449.9 1480
PIIND 3230.1 3350
PNB 119.06 120
PNBHOUSING 909.45 900
POLICYBZR 1882.1 1840
POLYCAB 7344.5 7300
POWERGRID 262.05 270
POWERINDIA 18255 18500
PPLPHARMA 169.68 175
PRESTIGE 1609 1640
RBLBANK 298.2 305
RECLTD 338 350
RELIANCE 1567.7 1550
RVNL 313.4 310
SAIL 124.4 130
SAMMAANCAP 144.59 155
SBICARD 862 870
SBILIFE 2027.7 2020
SBIN 979.65 970
SHREECEM 25445 26000
SHRIRAMFIN 907.6 880
SIEMENS 3089 3150
SOLARINDS 11777 12500
SONACOMS 495.6 500
SRF 3073.4 3000
SUNPHARMA 1747.6 1760
SUPREMEIND 3366.9 3400
SUZLON 51.94 54
SYNGENE 650.7 650
TATACONSUM 1182.9 1180
TATAELXSI 5373.5 5300
TATAMOTORS 0 320
TATAPOWER 377.6 390
TATASTEEL 168.24 170
TATATECH 649.5 670
TCS 3293.5 3240
TECHM 1608.6 1560
TIINDIA 2607.6 2700
TITAGARH 774.85 800
TITAN 3946.9 3880
TMPV 351.1 360
TORNTPHARM 3754.6 3750
TORNTPOWER 1265 1300
TRENT 4066.7 4200
TVSMOTOR 3655.9 3600
ULTRACEMCO 11492 11600
UNIONBANK 153.44 155
UNITDSPR 1402.3 1430
UNOMINDA 1253 1280
UPL 744.65 750
VBL 470.5 470
VEDL 575.5 555
VOLTAS 1370.4 1380
WIPRO 264.36 260
YESBANK 21.55 22
ZYDUSLIFE 914.95 930

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.