[--[65.84.65.76]--]

HUDCO

Hsg & Urban Dev Corpn Ltd
206.4 -1.51 (-0.73%)
L: 204.05 H: 208.62
Max Pain - HUDCO
18 Dec 2025 02:28 PM IST
Live


Strike  180  has a total call value of 0  versus a total put value of  66,004,762,500 Combined total value = 66,004,762,500

Strike  182.5  has a total call value of 0  versus a total put value of  61,607,775,000 Combined total value = 61,607,775,000

Strike  185  has a total call value of 0  versus a total put value of  57,210,787,500 Combined total value = 57,210,787,500

Strike  187.5  has a total call value of 2,081,250  versus a total put value of  52,845,018,750 Combined total value = 52,847,100,000

Strike  190  has a total call value of 4,162,500  versus a total put value of  48,479,250,000 Combined total value = 48,483,412,500

Strike  192.5  has a total call value of 6,243,750  versus a total put value of  44,215,462,500 Combined total value = 44,221,706,250

Strike  195  has a total call value of 15,956,250  versus a total put value of  39,951,675,000 Combined total value = 39,967,631,250

Strike  197.5  has a total call value of 28,443,750  versus a total put value of  35,820,393,750 Combined total value = 35,848,837,500

Strike  200  has a total call value of 40,931,250  versus a total put value of  31,860,468,750 Combined total value = 31,901,400,000

Strike  202.5  has a total call value of 96,431,250  versus a total put value of  28,261,987,500 Combined total value = 28,358,418,750

Strike  205  has a total call value of 152,625,000  versus a total put value of  24,745,368,750 Combined total value = 24,897,993,750

Strike  207.5  has a total call value of 477,993,750  versus a total put value of  21,593,662,500 Combined total value = 22,071,656,250

Strike  210  has a total call value of 894,243,750  versus a total put value of  18,563,362,500 Combined total value = 19,457,606,250

Strike  212.5  has a total call value of 1,773,918,750  versus a total put value of  16,209,468,750 Combined total value = 17,983,387,500

Strike  215  has a total call value of 2,786,793,750  versus a total put value of  13,958,943,750 Combined total value = 16,745,737,500

Strike  217.5  has a total call value of 4,467,056,250  versus a total put value of  11,911,687,500 Combined total value = 16,378,743,750

Strike  220  has a total call value of 6,353,362,500  versus a total put value of  9,931,725,000 Combined total value = 16,285,087,500

Strike  222.5  has a total call value of 9,303,881,250  versus a total put value of  8,323,612,500 Combined total value = 17,627,493,750

Strike  225  has a total call value of 12,445,875,000  versus a total put value of  6,825,112,500 Combined total value = 19,270,987,500

Strike  227.5  has a total call value of 16,264,275,000  versus a total put value of  5,577,056,250 Combined total value = 21,841,331,250

Strike  230  has a total call value of 20,321,325,000  versus a total put value of  4,378,256,250 Combined total value = 24,699,581,250

Strike  232.5  has a total call value of 25,475,193,750  versus a total put value of  3,512,456,250 Combined total value = 28,987,650,000

Strike  235  has a total call value of 30,787,931,250  versus a total put value of  2,705,625,000 Combined total value = 33,493,556,250

Strike  237.5  has a total call value of 36,759,037,500  versus a total put value of  2,054,193,750 Combined total value = 38,813,231,250

Strike  240  has a total call value of 42,861,262,500  versus a total put value of  1,486,012,500 Combined total value = 44,347,275,000

Strike  242.5  has a total call value of 50,704,106,250  versus a total put value of  1,209,900,000 Combined total value = 51,914,006,250

Strike  245  has a total call value of 58,621,181,250  versus a total put value of  965,006,250 Combined total value = 59,586,187,500

Strike  247.5  has a total call value of 67,191,768,750  versus a total put value of  767,981,250 Combined total value = 67,959,750,000

Strike  250  has a total call value of 75,846,993,750  versus a total put value of  577,200,000 Combined total value = 76,424,193,750

Strike  252.5  has a total call value of 85,419,356,250  versus a total put value of  505,743,750 Combined total value = 85,925,100,000

Strike  255  has a total call value of 95,027,793,750  versus a total put value of  434,287,500 Combined total value = 95,462,081,250

Strike  257.5  has a total call value of 104,739,600,000  versus a total put value of  362,831,250 Combined total value = 105,102,431,250

Strike  260  has a total call value of 114,461,812,500  versus a total put value of  291,375,000 Combined total value = 114,753,187,500

Strike  262.5  has a total call value of 124,324,162,500  versus a total put value of  236,568,750 Combined total value = 124,560,731,250

Strike  265  has a total call value of 134,188,593,750  versus a total put value of  181,762,500 Combined total value = 134,370,356,250

Strike  267.5  has a total call value of 144,111,993,750  versus a total put value of  132,506,250 Combined total value = 144,244,500,000

Strike  270  has a total call value of 154,052,737,500  versus a total put value of  83,250,000 Combined total value = 154,135,987,500

Strike  272.5  has a total call value of 164,187,037,500  versus a total put value of  59,662,500 Combined total value = 164,246,700,000

Strike  275  has a total call value of 174,331,050,000  versus a total put value of  36,075,000 Combined total value = 174,367,125,000

Strike  277.5  has a total call value of 184,523,625,000  versus a total put value of  18,037,500 Combined total value = 184,541,662,500

Strike  280  has a total call value of 194,716,200,000  versus a total put value of  0 Combined total value = 194,716,200,000

Max-Pain Table for Stocks
  Note:- click on symbol to see more detailed view
Max Pain Table (Stocks)
Symbol Symbol Ltp Max Pain
360ONE 1145.5 1140
ABB 5087.5 5200
ABCAPITAL 345.05 350
ADANIENSOL 977.8 990
ADANIENT 2229.2 2300
ADANIGREEN 1010.9 1020
ADANIPORTS 1488.5 1500
ALKEM 5540 5650
AMBER 6576 6800
AMBUJACEM 536.8 550
ANGELONE 2480.5 2550
APLAPOLLO 1789.3 1760
APOLLOHOSP 6906 7100
ASHOKLEY 171.96 162
ASIANPAINT 2762.6 2800
ASTRAL 1408.5 1440
AUBANK 988.6 960
AUROPHARMA 1206.4 1200
AXISBANK 1229.6 1240
BAJAJ-AUTO 8799 9000
BAJAJFINSV 2024.2 2060
BAJFINANCE 1001.3 1020
BANDHANBNK 145.88 150
BANKBARODA 288.6 290
BANKINDIA 142.22 143
BDL 1339.8 1380
BEL 383 400
BHARATFORG 1404.1 1400
BHARTIARTL 2095.6 2100
BHEL 274 280
BIOCON 391.7 390
BLUESTARCO 1856.2 1800
BOSCHLTD 35675 36000
BPCL 362.8 365
BRITANNIA 6028.5 6000
BSE 2679.1 2700
CAMS 747.7 770
CANBK 149.54 150
CDSL 1482.9 1540
CGPOWER 660.4 680
CHOLAFIN 1674.6 1700
CIPLA 1499.5 1520
COALINDIA 385.7 384.75
COFORGE 1848.3 1840
COLPAL 2089.4 2160
CONCOR 497.75 520
CROMPTON 256 265
CUMMINSIND 4374.7 4400
CYIENT 1135.3 1140
DABUR 491.45 500
DALBHARAT 2025.6 2040
DELHIVERY 401.25 410
DIVISLAB 6377 6400
DIXON 13230 13750
DLF 682 710
DMART 3755.3 3900
DRREDDY 1277.5 1270
EICHERMOT 7085.5 7100
ETERNAL 284.25 295
EXIDEIND 358.5 370
FEDERALBNK 265.1 260
FORTIS 867.35 890
GAIL 167.62 175
GLENMARK 1952 1940
GMRAIRPORT 100.17 102
GODREJCP 1181.9 1160
GODREJPROP 2000 2060
GRASIM 2811 2800
HAL 4241.8 4450
HAVELLS 1400.5 1440
HCLTECH 1660.3 1660
HDFCAMC 2720 2680
HDFCBANK 982 990
HDFCLIFE 755.95 770
HEROMOTOCO 5742 5900
HFCL 64.32 67
HINDALCO 856.8 820
HINDPETRO 463.85 460
HINDUNILVR 2262.7 2300
HINDZINC 590.9 560
HUDCO 206.4 220
ICICIBANK 1360.1 1370
ICICIGI 1950.8 1960
ICICIPRULI 644.6 630
IDEA 11.29 11
IDFCFIRSTB 83.71 82
IEX 139.94 145
IIFL 559.25 560
INDHOTEL 719.65 730
INDIANB 775.3 820
INDIGO 5116 5100
INDUSINDBK 832.65 850
INDUSTOWER 408.75 410
INFY 1625.6 1600
INOXWIND 124.65 130
IOC 161.7 162
IRCTC 663 685
IREDA 131.21 137.5
IRFC 110.81 115
ITC 400.65 405
JINDALSTEL 982.7 1020
JIOFIN 291.75 305
JSWENERGY 469.25 490
JSWSTEEL 1082.4 1120
JUBLFOOD 556 580
KALYANKJIL 470.6 480
KAYNES 4064 4300
KEI 4080.9 4100
KFINTECH 1063.7 1060
KOTAKBANK 2165.6 2160
KPITTECH 1154.3 1200
LAURUSLABS 1014 1000
LICHSGFIN 527.15 550
LICI 843.1 870
LODHA 1069.5 1100
LT 4037.4 4020
LTF 299.9 302.5
LTIM 6205.5 6200
LUPIN 2115 2100
M&M 3572.6 3650
MANAPPURAM 288.4 280
MANKIND 2132 2200
MARICO 741.4 740
MARUTI 16367 16200
MAXHEALTH 1051.3 1100
MAZDOCK 2352.7 2500
MCX 10169 10100
MFSL 1679.9 1700
MOTHERSON 117.4 115
MPHASIS 2879.3 2900
MUTHOOTFIN 3745.8 3750
NATIONALUM 279.9 270
NAUKRI 1339.3 1360
NBCC 108.24 111
NCC 153.55 165
NESTLEIND 1240.3 1240
NHPC 74.81 78
NMDC 76.55 77
NTPC 318.6 325
NUVAMA 7271 7300
NYKAA 243.7 252.5
OBEROIRLTY 1657 1660
OFSS 7626 8000
OIL 399.65 410
ONGC 232.19 237.5
PAGEIND 35670 37000
PATANJALI 553.35 550
PAYTM 1288.3 1300
PERSISTENT 6303.5 6300
PETRONET 268.55 278
PFC 334.4 355
PGEL 565.9 560
PHOENIXLTD 1791 1760
PIDILITIND 1447.7 1480
PIIND 3210.1 3350
PNB 118.73 120
PNBHOUSING 895.65 900
POLICYBZR 1834.7 1840
POLYCAB 7086.5 7200
POWERGRID 257.25 270
POWERINDIA 18305 19000
PPLPHARMA 166.21 175
PRESTIGE 1598.9 1640
RBLBANK 298.45 305
RECLTD 337.35 350
RELIANCE 1546.1 1540
RVNL 305.15 310
SAIL 127.55 132
SAMMAANCAP 145.48 155
SBICARD 847.15 870
SBILIFE 2016.6 2020
SBIN 977 970
SHREECEM 25660 26500
SHRIRAMFIN 866.65 850
SIEMENS 3067 3150
SOLARINDS 11747 12500
SONACOMS 486.95 500
SRF 3048.2 3000
SUNPHARMA 1744.9 1760
SUPREMEIND 3345.4 3400
SUZLON 51.63 54
SYNGENE 653.85 650
TATACONSUM 1174.5 1180
TATAELXSI 4973.5 5000
TATAMOTORS 0 320
TATAPOWER 374.05 390
TATASTEEL 168.57 170
TATATECH 641 670
TCS 3272.9 3220
TECHM 1598.9 1560
TIINDIA 2575.5 2700
TITAGARH 770.2 800
TITAN 3901.8 3860
TMPV 345.05 360
TORNTPHARM 3739.8 3750
TORNTPOWER 1252.5 1300
TRENT 4013.9 4200
TVSMOTOR 3583.9 3600
ULTRACEMCO 11440 11600
UNIONBANK 154.3 155
UNITDSPR 1392.2 1440
UNOMINDA 1224.6 1280
UPL 743.6 750
VBL 471.65 470
VEDL 578.85 555
VOLTAS 1403.1 1400
WIPRO 262.42 257.5
YESBANK 21.45 22
ZYDUSLIFE 912.95 930

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.