How is Max Pain Calculated?

Max Pain is calculated by determining the total dollar value of in-the-money options at each strike price. For each strike price: Calculate the difference between the current stock price and the strike price. Multiply this difference by the open interest (number of contracts) at that strike for both call and put options. Sum the values: Add together the dollar value for put options and call options at each strike price. Repeat for all strikes: Perform this calculation for every available strike price in the option chain. 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.

How Can Traders Use Max Pain in Their Strategy?

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.

What Does Max Pain Indicate About Stock Price Movement?

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.

How Often Does Max Pain Change?

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.

What's the Difference Between Max Pain and Spot Price?

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.

Is Max Pain Always Accurate for Predicting Stock Price?

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.

When is Max Pain Most Relevant for Options Trading?

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.

HINDZINC

Q: What is Max Pain in Options Trading?

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.

Hindustan Zinc Limited

593.35 +15.05 (2.60%)

L: 576.85 H: 594.35

Max Pain - HINDZINC

18 Dec 2025 01:03 PM IST

Live

Expiry

Max Pain for HINDZINC is 560

Historical data for HINDZINC-560-CE

LTP (560 CE)

36.3 9.9

Open Interest

1416 -70

Historical data for HINDZINC-560-PE

LTP (560 PE)

3.6 -3.6

Open Interest

1955 419

Strike 380 has a total call value of 0 versus a total put value of 522,346,125,000 Combined total value = 522,346,125,000

Strike 385 has a total call value of 0 versus a total put value of 505,378,650,000 Combined total value = 505,378,650,000

Strike 390 has a total call value of 0 versus a total put value of 488,411,175,000 Combined total value = 488,411,175,000

Strike 395 has a total call value of 0 versus a total put value of 471,450,437,500 Combined total value = 471,450,437,500

Strike 400 has a total call value of 0 versus a total put value of 454,489,700,000 Combined total value = 454,489,700,000

Strike 405 has a total call value of 2,450,000 versus a total put value of 437,588,375,000 Combined total value = 437,590,825,000

Strike 410 has a total call value of 4,900,000 versus a total put value of 420,687,050,000 Combined total value = 420,691,950,000

Strike 415 has a total call value of 11,025,000 versus a total put value of 403,815,125,000 Combined total value = 403,826,150,000

Strike 420 has a total call value of 17,762,500 versus a total put value of 386,949,937,500 Combined total value = 386,967,700,000

Strike 425 has a total call value of 30,012,500 versus a total put value of 370,142,325,000 Combined total value = 370,172,337,500

Strike 430 has a total call value of 42,262,500 versus a total put value of 353,351,862,500 Combined total value = 353,394,125,000

Strike 435 has a total call value of 55,737,500 versus a total put value of 336,613,462,500 Combined total value = 336,669,200,000

Strike 440 has a total call value of 69,212,500 versus a total put value of 319,921,612,500 Combined total value = 319,990,825,000

Strike 445 has a total call value of 119,437,500 versus a total put value of 303,466,800,000 Combined total value = 303,586,237,500

Strike 450 has a total call value of 171,500,000 versus a total put value of 287,043,837,500 Combined total value = 287,215,337,500

Strike 455 has a total call value of 294,612,500 versus a total put value of 270,894,050,000 Combined total value = 271,188,662,500

Strike 460 has a total call value of 435,487,500 versus a total put value of 254,805,512,500 Combined total value = 255,241,000,000

Strike 465 has a total call value of 715,400,000 versus a total put value of 238,984,637,500 Combined total value = 239,700,037,500

Strike 470 has a total call value of 1,043,700,000 versus a total put value of 223,255,025,000 Combined total value = 224,298,725,000

Strike 475 has a total call value of 1,542,887,500 versus a total put value of 207,773,475,000 Combined total value = 209,316,362,500

Strike 480 has a total call value of 2,131,500,000 versus a total put value of 192,379,512,500 Combined total value = 194,511,012,500

Strike 485 has a total call value of 2,946,737,500 versus a total put value of 177,416,750,000 Combined total value = 180,363,487,500

Strike 490 has a total call value of 3,851,400,000 versus a total put value of 162,599,762,500 Combined total value = 166,451,162,500

Strike 495 has a total call value of 4,957,575,000 versus a total put value of 148,143,537,500 Combined total value = 153,101,112,500

Strike 500 has a total call value of 6,268,325,000 versus a total put value of 133,890,662,500 Combined total value = 140,158,987,500

Strike 505 has a total call value of 7,921,462,500 versus a total put value of 120,633,100,000 Combined total value = 128,554,562,500

Strike 510 has a total call value of 9,692,812,500 versus a total put value of 107,583,787,500 Combined total value = 117,276,600,000

Strike 515 has a total call value of 11,821,250,000 versus a total put value of 95,355,837,500 Combined total value = 107,177,087,500

Strike 520 has a total call value of 14,085,050,000 versus a total put value of 83,356,350,000 Combined total value = 97,441,400,000

Strike 525 has a total call value of 16,753,712,500 versus a total put value of 72,415,875,000 Combined total value = 89,169,587,500

Strike 530 has a total call value of 19,584,687,500 versus a total put value of 61,749,187,500 Combined total value = 81,333,875,000

Strike 535 has a total call value of 22,740,900,000 versus a total put value of 51,887,937,500 Combined total value = 74,628,837,500

Strike 540 has a total call value of 26,079,637,500 versus a total put value of 42,449,925,000 Combined total value = 68,529,562,500

Strike 545 has a total call value of 30,218,912,500 versus a total put value of 34,675,462,500 Combined total value = 64,894,375,000

Strike 550 has a total call value of 34,548,062,500 versus a total put value of 27,368,950,000 Combined total value = 61,917,012,500

Strike 555 has a total call value of 39,555,250,000 versus a total put value of 21,575,925,000 Combined total value = 61,131,175,000

Strike 560 has a total call value of 44,685,550,000 versus a total put value of 16,226,962,500 Combined total value = 60,912,512,500

Strike 565 has a total call value of 50,683,150,000 versus a total put value of 12,075,437,500 Combined total value = 62,758,587,500

Strike 570 has a total call value of 56,862,050,000 versus a total put value of 8,503,950,000 Combined total value = 65,366,000,000

Strike 575 has a total call value of 63,767,375,000 versus a total put value of 5,670,525,000 Combined total value = 69,437,900,000

Strike 580 has a total call value of 71,009,575,000 versus a total put value of 3,216,237,500 Combined total value = 74,225,812,500

Strike 585 has a total call value of 79,558,850,000 versus a total put value of 1,784,825,000 Combined total value = 81,343,675,000

Strike 590 has a total call value of 88,730,425,000 versus a total put value of 809,725,000 Combined total value = 89,540,150,000

Strike 595 has a total call value of 99,539,212,500 versus a total put value of 406,087,500 Combined total value = 99,945,300,000

Strike 600 has a total call value of 110,879,650,000 versus a total put value of 128,012,500 Combined total value = 111,007,662,500

Strike 605 has a total call value of 124,772,375,000 versus a total put value of 72,275,000 Combined total value = 124,844,650,000

Strike 610 has a total call value of 139,112,225,000 versus a total put value of 45,937,500 Combined total value = 139,158,162,500

Strike 615 has a total call value of 154,597,450,000 versus a total put value of 22,662,500 Combined total value = 154,620,112,500

Strike 620 has a total call value of 170,599,012,500 versus a total put value of 0 Combined total value = 170,599,012,500

Strike 625 has a total call value of 188,455,837,500 versus a total put value of 0 Combined total value = 188,455,837,500

Strike 630 has a total call value of 206,312,662,500 versus a total put value of 0 Combined total value = 206,312,662,500

Strike 635 has a total call value of 225,749,125,000 versus a total put value of 0 Combined total value = 225,749,125,000

Strike 640 has a total call value of 245,185,587,500 versus a total put value of 0 Combined total value = 245,185,587,500

Strike 645 has a total call value of 265,879,512,500 versus a total put value of 0 Combined total value = 265,879,512,500

Strike 650 has a total call value of 286,573,437,500 versus a total put value of 0 Combined total value = 286,573,437,500

Max-Pain Table for Stocks

Max-Pain Table Expiry

Note:- click on symbol to see more detailed view

Max Pain Table (Stocks)
Symbol	Symbol Ltp	Max Pain
360ONE	1139.9	1140
ABB	5134	5200
ABCAPITAL	347.95	350
ADANIENSOL	986.15	990
ADANIENT	2239.1	2300
ADANIGREEN	1017	1020
ADANIPORTS	1491.5	1500
ALKEM	5559.5	5700
AMBER	6595.5	6800
AMBUJACEM	539.85	550
ANGELONE	2491.1	2550
APLAPOLLO	1793.7	1760
APOLLOHOSP	6930.5	7100
ASHOKLEY	169.74	160
ASIANPAINT	2767.2	2800
ASTRAL	1425.7	1460
AUBANK	987.85	960
AUROPHARMA	1211.3	1200
AXISBANK	1236.3	1240
BAJAJ-AUTO	8830.5	9000
BAJAJFINSV	2031.6	2060
BAJFINANCE	1005.1	1020
BANDHANBNK	146.71	150
BANKBARODA	290.35	290
BANKINDIA	143.2	143
BDL	1344.3	1380
BEL	384.65	400
BHARATFORG	1406.8	1400
BHARTIARTL	2107.6	2100
BHEL	274	280
BIOCON	393.15	390
BLUESTARCO	1851.9	1800
BOSCHLTD	35710	36000
BPCL	362.4	365
BRITANNIA	6034	6000
BSE	2696.8	2700
CAMS	745.2	770
CANBK	150.55	150
CDSL	1490.8	1540
CGPOWER	666.55	680
CHOLAFIN	1687.3	1700
CIPLA	1501.8	1520
COALINDIA	385.6	384.75
COFORGE	1846	1840
COLPAL	2089.6	2160
CONCOR	498.45	520
CROMPTON	259.2	265
CUMMINSIND	4380.6	4400
CYIENT	1144.3	1140
DABUR	493	500
DALBHARAT	2042.8	2040
DELHIVERY	402.75	410
DIVISLAB	6389.5	6400
DIXON	13375	13750
DLF	685.15	710
DMART	3767.6	3900
DRREDDY	1276.3	1270
EICHERMOT	7109	7100
ETERNAL	284.75	290
EXIDEIND	360.3	370
FEDERALBNK	265.95	260
FORTIS	866.85	890
GAIL	168.05	175
GLENMARK	1957.8	1940
GMRAIRPORT	100.25	102
GODREJCP	1181.4	1160
GODREJPROP	2000	2060
GRASIM	2819.4	2800
HAL	4260.2	4450
HAVELLS	1407.2	1440
HCLTECH	1661.3	1660
HDFCAMC	2716	2660
HDFCBANK	982.5	995
HDFCLIFE	757	770
HEROMOTOCO	5744	5900
HFCL	65.07	67
HINDALCO	861	820
HINDPETRO	463.2	460
HINDUNILVR	2273.9	2300
HINDZINC	593.35	560
HUDCO	208.32	220
ICICIBANK	1363	1370
ICICIGI	1952.3	1960
ICICIPRULI	640.9	630
IDEA	11.47	11
IDFCFIRSTB	84.16	82
IEX	141.34	145
IIFL	566	560
INDHOTEL	720.5	730
INDIANB	780.85	820
INDIGO	5123.5	5050
INDUSINDBK	838.7	850
INDUSTOWER	409.85	410
INFY	1625.5	1600
INOXWIND	125.37	130
IOC	162.25	162
IRCTC	666.1	690
IREDA	132.21	140
IRFC	111.65	116
ITC	401.25	405
JINDALSTEL	993.2	1020
JIOFIN	292.9	305
JSWENERGY	472.8	490
JSWSTEEL	1089	1120
JUBLFOOD	559.25	580
KALYANKJIL	471.9	480
KAYNES	4112	4300
KEI	4078.4	4100
KFINTECH	1056.9	1060
KOTAKBANK	2173.1	2160
KPITTECH	1164.7	1200
LAURUSLABS	1017.4	1000
LICHSGFIN	527.75	550
LICI	843.3	870
LODHA	1073.9	1100
LT	4061.9	4040
LTF	302.9	302.5
LTIM	6228.5	6200
LUPIN	2121.1	2100
M&M	3582.2	3650
MANAPPURAM	290.4	280
MANKIND	2118.2	2200
MARICO	741.95	740
MARUTI	16383	16200
MAXHEALTH	1056.7	1080
MAZDOCK	2370.8	2500
MCX	10186	10000
MFSL	1680	1680
MOTHERSON	117.04	116
MPHASIS	2895.5	2900
MUTHOOTFIN	3772.1	3750
NATIONALUM	282.05	270
NAUKRI	1345.5	1360
NBCC	108.49	111
NCC	154.61	165
NESTLEIND	1243.5	1240
NHPC	75.05	78
NMDC	77.09	77
NTPC	317.9	325
NUVAMA	7356	7300
NYKAA	244	252.5
OBEROIRLTY	1665.7	1660
OFSS	7707.5	8000
OIL	398.9	410
ONGC	232.52	237.5
PAGEIND	35900	37000
PATANJALI	553.1	550
PAYTM	1283.6	1300
PERSISTENT	6317	6300
PETRONET	268.5	278
PFC	336.8	355
PGEL	568.05	560
PHOENIXLTD	1804.4	1760
PIDILITIND	1451.1	1480
PIIND	3213.4	3350
PNB	119.41	120
PNBHOUSING	903.15	900
POLICYBZR	1821.3	1840
POLYCAB	7112	7200
POWERGRID	256.85	270
POWERINDIA	18375	19000
PPLPHARMA	166.36	177.5
PRESTIGE	1607	1640
RBLBANK	300.45	305
RECLTD	337.95	350
RELIANCE	1548.4	1540
RVNL	306.65	310
SAIL	129.8	132
SAMMAANCAP	145.93	155
SBICARD	851.5	870
SBILIFE	2016	2020
SBIN	979.1	970
SHREECEM	25845	26500
SHRIRAMFIN	873.2	850
SIEMENS	3080.6	3150
SOLARINDS	11754	12500
SONACOMS	485.9	500
SRF	3043	3000
SUNPHARMA	1743.6	1760
SUPREMEIND	3347.7	3400
SUZLON	51.79	54
SYNGENE	655.2	650
TATACONSUM	1180.4	1180
TATAELXSI	5003	5000
TATAMOTORS	0	320
TATAPOWER	375.1	390
TATASTEEL	169.65	170
TATATECH	644.5	670
TCS	3278.4	3200
TECHM	1595.6	1560
TIINDIA	2593.2	2700
TITAGARH	774.8	800
TITAN	3918.1	3860
TMPV	345.25	360
TORNTPHARM	3733.2	3750
TORNTPOWER	1261.5	1300
TRENT	4016.5	4200
TVSMOTOR	3595.4	3600
ULTRACEMCO	11514	11600
UNIONBANK	155.02	155
UNITDSPR	1397.8	1440
UNOMINDA	1229.8	1280
UPL	747.55	750
VBL	471.7	470
VEDL	580.85	550
VOLTAS	1414.6	1380
WIPRO	263.2	257.5
YESBANK	21.54	22
ZYDUSLIFE	915.3	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:

For each strike price: Calculate the difference between the current stock price and the strike price.
Multiply by Open Interest: Multiply this difference by the open interest (number of contracts) at that strike for both call and put options.
Sum the values: Add together the dollar value for put options and call options at each strike price.
Repeat for all strikes: Perform this calculation for every available strike price in the option chain.
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.

Related Pages for HINDZINC

HINDZINC

360ONE

ABB

ABCAPITAL

ADANIENSOL

ADANIENT

ADANIGREEN

ADANIPORTS

ALKEM

AMBER

AMBUJACEM

ANGELONE

APLAPOLLO

APOLLOHOSP

ASHOKLEY

ASIANPAINT

ASTRAL

AUBANK

AUROPHARMA

AXISBANK

BAJAJ-AUTO

BAJAJFINSV

BAJFINANCE

BANDHANBNK

BANKBARODA

BANKEX

BANKINDIA

BANKNIFTY

BDL

BEL

BHARATFORG

BHARTIARTL

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