M&M
Mahindra & Mahindra Ltd
Max pain for M&M
13 Mar 2025 04:11 PM IST
Max Pain for M&M is 2700
Strike 2100 has a total call value of 0 versus a total put value of 239,816,500,000 Combined total value = 239,816,500,000
Strike 2150 has a total call value of 0 versus a total put value of 216,013,875,000 Combined total value = 216,013,875,000
Strike 2200 has a total call value of 0 versus a total put value of 192,211,250,000 Combined total value = 192,211,250,000
Strike 2250 has a total call value of 0 versus a total put value of 170,081,625,000 Combined total value = 170,081,625,000
Strike 2300 has a total call value of 0 versus a total put value of 148,274,000,000 Combined total value = 148,274,000,000
Strike 2350 has a total call value of 59,500,000 versus a total put value of 127,946,875,000 Combined total value = 128,006,375,000
Strike 2400 has a total call value of 119,000,000 versus a total put value of 108,128,125,000 Combined total value = 108,247,125,000
Strike 2450 has a total call value of 280,000,000 versus a total put value of 90,058,500,000 Combined total value = 90,338,500,000
Strike 2500 has a total call value of 441,000,000 versus a total put value of 72,766,750,000 Combined total value = 73,207,750,000
Strike 2550 has a total call value of 1,228,500,000 versus a total put value of 58,834,125,000 Combined total value = 60,062,625,000
Strike 2600 has a total call value of 2,505,125,000 versus a total put value of 46,327,750,000 Combined total value = 48,832,875,000
Strike 2650 has a total call value of 4,795,000,000 versus a total put value of 36,273,125,000 Combined total value = 41,068,125,000
Strike 2700 has a total call value of 8,604,750,000 versus a total put value of 27,911,625,000 Combined total value = 36,516,375,000
Strike 2750 has a total call value of 16,004,625,000 versus a total put value of 21,982,625,000 Combined total value = 37,987,250,000
Strike 2800 has a total call value of 26,777,625,000 versus a total put value of 17,288,250,000 Combined total value = 44,065,875,000
Strike 2850 has a total call value of 42,467,250,000 versus a total put value of 13,846,000,000 Combined total value = 56,313,250,000
Strike 2900 has a total call value of 60,080,125,000 versus a total put value of 10,640,000,000 Combined total value = 70,720,125,000
Strike 2950 has a total call value of 80,886,750,000 versus a total put value of 8,214,500,000 Combined total value = 89,101,250,000
Strike 3000 has a total call value of 103,217,625,000 versus a total put value of 5,789,000,000 Combined total value = 109,006,625,000
Strike 3050 has a total call value of 132,692,875,000 versus a total put value of 4,207,875,000 Combined total value = 136,900,750,000
Strike 3100 has a total call value of 163,887,500,000 versus a total put value of 2,672,250,000 Combined total value = 166,559,750,000
Strike 3150 has a total call value of 197,526,000,000 versus a total put value of 1,810,375,000 Combined total value = 199,336,375,000
Strike 3200 has a total call value of 231,693,875,000 versus a total put value of 948,500,000 Combined total value = 232,642,375,000
Strike 3250 has a total call value of 268,128,875,000 versus a total put value of 474,250,000 Combined total value = 268,603,125,000
Strike 3300 has a total call value of 304,877,125,000 versus a total put value of 0 Combined total value = 304,877,125,000
Strike 3350 has a total call value of 343,161,000,000 versus a total put value of 0 Combined total value = 343,161,000,000
Strike 3400 has a total call value of 381,444,875,000 versus a total put value of 0 Combined total value = 381,444,875,000
Strike 3450 has a total call value of 420,245,000,000 versus a total put value of 0 Combined total value = 420,245,000,000
Strike 3500 has a total call value of 459,045,125,000 versus a total put value of 0 Combined total value = 459,045,125,000
Strike 3550 has a total call value of 498,486,625,000 versus a total put value of 0 Combined total value = 498,486,625,000
Strike 3600 has a total call value of 537,928,125,000 versus a total put value of 0 Combined total value = 537,928,125,000
Max-Pain Table for stock monthly expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| AARTIIND | 382.75 | 400 |
| ABB | 5118.55 | 5200 |
| ABCAPITAL | 162.19 | 162.5 |
| ABFRL | 240.05 | 250 |
| ACC | 1854 | 1860 |
| ADANIENSOL | 783.2 | 760 |
| ADANIENT | 2221.1 | 2380 |
| ADANIGREEN | 873.65 | 840 |
| ADANIPORTS | 1119.2 | 1120 |
| ALKEM | 4706.95 | 4700 |
| AMBUJACEM | 485.8 | 485 |
| ANGELONE | 1953.5 | 2000 |
| APLAPOLLO | 1372.8 | 1400 |
| APOLLOHOSP | 6105.65 | 6150 |
| APOLLOTYRE | 400.95 | 400 |
| ASHOKLEY | 196.63 | 205 |
| ASIANPAINT | 2231.3 | 2260 |
| ASTRAL | 1238.3 | 1300 |
| ATGL | 604.35 | 580 |
| AUBANK | 502.85 | 530 |
| AUROPHARMA | 1094.75 | 1100 |
| AXISBANK | 1010.2 | 1020 |
| BAJAJ-AUTO | 7504.7 | 7600 |
| BAJAJFINSV | 1807.45 | 1820 |
| BAJFINANCE | 8420.45 | 8400 |
| BALKRISIND | 2499.05 | 2520 |
| BANDHANBNK | 139.84 | 145 |
| BANKBARODA | 205.52 | 210 |
| BANKINDIA | 94.12 | 96 |
| BEL | 280.07 | 275 |
| BERGEPAINT | 488.2 | 490 |
| BHARATFORG | 1039.25 | 1040 |
| BHARTIARTL | 1632.5 | 1640 |
| BHEL | 193.33 | 200 |
| BIOCON | 323.05 | 320 |
| BOSCHLTD | 26378.35 | 27000 |
| BPCL | 264.41 | 260 |
| BRITANNIA | 4728.25 | 4750 |
| BSE | 3926.25 | 4300 |
| BSOFT | 385.75 | 400 |
| CAMS | 3410.1 | 3400 |
| CANBK | 82.9 | 85 |
| CDSL | 1071 | 1100 |
| CESC | 138.67 | 135 |
| CGPOWER | 599.1 | 600 |
| CHAMBLFERT | 556.55 | 560 |
| CHOLAFIN | 1444.7 | 1420 |
| CIPLA | 1461.9 | 1440 |
| COALINDIA | 378.3 | 380 |
| COFORGE | 7292.25 | 7500 |
| COLPAL | 2411.7 | 2480 |
| CONCOR | 640.25 | 670 |
| CROMPTON | 344.25 | 350 |
| CUMMINSIND | 2835.25 | 2850 |
| CYIENT | 1192.35 | 1240 |
| DABUR | 500.95 | 500 |
| DALBHARAT | 1607.1 | 1680 |
| DEEPAKNTR | 1948.6 | 1900 |
| DELHIVERY | 241.76 | 250 |
| DIVISLAB | 5620.45 | 5650 |
| DIXON | 13324.05 | 13500 |
| DLF | 658.1 | 660 |
| DMART | 3797.1 | 3750 |
| DRREDDY | 1107.95 | 1120 |
| EICHERMOT | 5015.25 | 5000 |
| ESCORTS | 2908.5 | 3000 |
| EXIDEIND | 333 | 350 |
| FEDERALBNK | 176.6 | 180 |
| GAIL | 157.96 | 160 |
| GLENMARK | 1405.15 | 1380 |
| GMRAIRPORT | 74.33 | 72 |
| GODREJCP | 1025.8 | 1030 |
| GODREJPROP | 1969.1 | 2000 |
| GRANULES | 470.65 | 490 |
| GRASIM | 2370.2 | 2400 |
| HAL | 3396.15 | 3450 |
| HAVELLS | 1458.65 | 1460 |
| HCLTECH | 1534.75 | 1560 |
| HDFCAMC | 3725.1 | 3750 |
| HDFCBANK | 1706.6 | 1720 |
| HDFCLIFE | 622.4 | 620 |
| HEROMOTOCO | 3529.15 | 3650 |
| HFCL | 77.55 | 82.5 |
| HINDALCO | 677.35 | 660 |
| HINDCOPPER | 215.8 | 225 |
| HINDPETRO | 323.7 | 325 |
| HINDUNILVR | 2174.8 | 2220 |
| HUDCO | 180.76 | 180 |
| ICICIBANK | 1250.05 | 1250 |
| ICICIGI | 1678.75 | 1680 |
| ICICIPRULI | 536.6 | 550 |
| IDEA | 6.95 | 8 |
| IDFCFIRSTB | 53.48 | 57 |
| IEX | 153.56 | 160 |
| IGL | 184.88 | 190 |
| IIFL | 313.25 | 310 |
| INDHOTEL | 750.45 | 750 |
| INDIANB | 490.4 | 500 |
| INDIGO | 4700.85 | 4600 |
| INDUSINDBK | 672.35 | 750 |
| INDUSTOWER | 327 | 330 |
| INFY | 1579.85 | 1600 |
| IOC | 125.67 | 125 |
| IRB | 42.8 | 45 |
| IRCTC | 689.05 | 700 |
| IREDA | 139.85 | 140 |
| IRFC | 117.69 | 117.5 |
| ITC | 412.05 | 410 |
| JINDALSTEL | 889.7 | 900 |
| JIOFIN | 222.6 | 220 |
| JKCEMENT | 4271.3 | 4400 |
| JSL | 632.3 | 640 |
| JSWENERGY | 514.1 | 500 |
| JSWSTEEL | 1001.2 | 1000 |
| JUBLFOOD | 596.35 | 610 |
| KALYANKJIL | 430.9 | 420 |
| KEI | 3053.95 | 3000 |
| KOTAKBANK | 1985.1 | 1960 |
| KPITTECH | 1206.45 | 1260 |
| LAURUSLABS | 574.05 | 560 |
| LICHSGFIN | 515.6 | 520 |
| LICI | 740.15 | 760 |
| LODHA | 1055.25 | 1100 |
| LT | 3187.3 | 3250 |
| LTF | 138.64 | 140 |
| LTIM | 4467.05 | 4700 |
| LTTS | 4378.2 | 4500 |
| LUPIN | 1968.45 | 1980 |
| M&M | 2643.5 | 2700 |
| M&MFIN | 271.35 | 275 |
| MANAPPURAM | 208.14 | 200 |
| MARICO | 606.3 | 610 |
| MARUTI | 11513.8 | 11700 |
| MAXHEALTH | 990.7 | 1000 |
| MCX | 4808.45 | 4900 |
| MFSL | 1052.55 | 1040 |
| MGL | 1285.95 | 1300 |
| MOTHERSON | 121.76 | 125 |
| MPHASIS | 2205.15 | 2250 |
| MRF | 105041.6 | 105000 |
| MUTHOOTFIN | 2196.35 | 2180 |
| NATIONALUM | 187.87 | 190 |
| NAUKRI | 6382.55 | 6700 |
| NBCC | 77.89 | 80 |
| NCC | 185.86 | 185 |
| NESTLEIND | 2191.95 | 2220 |
| NHPC | 77.57 | 77 |
| NMDC | 63.8 | 65 |
| NTPC | 331.9 | 325 |
| NYKAA | 164.56 | 165 |
| OBEROIRLTY | 1533.5 | 1560 |
| OFSS | 7328 | 7500 |
| OIL | 375.5 | 370 |
| ONGC | 225.43 | 227.5 |
| PAGEIND | 40099.25 | 40000 |
| PATANJALI | 1718.6 | 1700 |
| PAYTM | 682.85 | 700 |
| PEL | 885.95 | 920 |
| PERSISTENT | 5125.75 | 5200 |
| PETRONET | 281 | 290 |
| PFC | 388.35 | 390 |
| PHOENIXLTD | 1564.5 | 1600 |
| PIDILITIND | 2729.9 | 2740 |
| PIIND | 3297.3 | 3200 |
| PNB | 87.2 | 90 |
| POLICYBZR | 1331.9 | 1400 |
| POLYCAB | 5003.1 | 5000 |
| POONAWALLA | 281.35 | 280 |
| POWERGRID | 267.65 | 265 |
| PRESTIGE | 1129.6 | 1150 |
| RAMCOCEM | 801.55 | 820 |
| RBLBANK | 156.32 | 160 |
| RECLTD | 406.65 | 400 |
| RELIANCE | 1247.9 | 1240 |
| SAIL | 105.89 | 110 |
| SBICARD | 829.85 | 840 |
| SBILIFE | 1385.55 | 1420 |
| SBIN | 727.85 | 730 |
| SHREECEM | 27495.15 | 27750 |
| SHRIRAMFIN | 619.55 | 620 |
| SIEMENS | 4927.9 | 5000 |
| SJVN | 85.42 | 85 |
| SOLARINDS | 10097.15 | 9800 |
| SONACOMS | 485.8 | 500 |
| SRF | 2951.8 | 2860 |
| SUNPHARMA | 1683.45 | 1640 |
| SUPREMEIND | 3343.75 | 3400 |
| SYNGENE | 666.2 | 680 |
| TATACHEM | 796.1 | 820 |
| TATACOMM | 1503.95 | 1460 |
| TATACONSUM | 946.1 | 960 |
| TATAELXSI | 5236.75 | 5400 |
| TATAMOTORS | 655.5 | 650 |
| TATAPOWER | 350.75 | 360 |
| TATASTEEL | 150.88 | 150 |
| TATATECH | 636.8 | 650 |
| TCS | 3511.05 | 3600 |
| TECHM | 1440.65 | 1480 |
| TIINDIA | 2926.55 | 2800 |
| TITAGARH | 694.3 | 700 |
| TITAN | 3010.15 | 3100 |
| TORNTPHARM | 3056.05 | 3000 |
| TORNTPOWER | 1291.2 | 1340 |
| TRENT | 5022.4 | 5000 |
| TVSMOTOR | 2250.9 | 2300 |
| ULTRACEMCO | 10452.1 | 10400 |
| UNIONBANK | 113.7 | 115 |
| UNITDSPR | 1353.7 | 1300 |
| UPL | 601.45 | 620 |
| USDINR | 87.09 | 77.25 |
| VBL | 488.15 | 480 |
| VEDL | 442.95 | 440 |
| VOLTAS | 1402.55 | 1380 |
| WIPRO | 264 | 270 |
| YESBANK | 16.19 | 17 |
| ZOMATO | 201.43 | 210 |
| ZYDUSLIFE | 883.1 | 900 |
Note:
| Stock LTP > Max Pain | Bearish Trend |
| Stock LTP < Max Pain | Bullish Trend |
What is Max Pain?
Max pain, or the max pain price, is the strike price with the most open contract puts and calls - and the price at which the stock would cause financial losses for the largest number of option holders at expiration.
Calculating Max Pain
Max pain is a simple but time consuming calculation. Essentially, it is the sum of the outstanding put and call dollar value of each in-the-money strike price. For each in-the-money strike price for both puts and calls:
- Find the difference between stock price and strike price
- Multiply the result by open interest at that strike
- Add together the dollar value for the put and call at that strike
- Repeat for each strike price
- Find the highest value strike price. This price is equivalent to max pain price.
How can a trader benefit?
As the option expiration approaches, option writers will try to buy or sell shares of stock to drive the price toward a closing price that is profitable for them, or at least to hedge their payouts to option holders. Call writers sell shares to drive share price down and Put holders buy shares to drive share price up. The max pain strike price exists somewhere in the middle.
