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.

MIDCPNIFTY

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.

Nifty Midcap Select

13834.25 -164.25 (-1.17%)

L: 13832.85 H: 14052.85

Max Pain - MIDCPNIFTY

08 Dec 2025 12:20 PM IST

Live

Expiry

Max Pain for MIDCPNIFTY is 14000

Historical data for MIDCPNIFTY-14000-CE

LTP (14000 CE)

140.15 -89.65

Open Interest

7685 1281

Historical data for MIDCPNIFTY-14000-PE

LTP (14000 PE)

271.35 97.05

Open Interest

6942 100

Strike 11100 has a total call value of 0 versus a total put value of 1,576,016,050,000 Combined total value = 1,576,016,050,000

Strike 11125 has a total call value of 350,000 versus a total put value of 1,559,896,100,000 Combined total value = 1,559,896,450,000

Strike 11150 has a total call value of 700,000 versus a total put value of 1,543,776,150,000 Combined total value = 1,543,776,850,000

Strike 11175 has a total call value of 1,050,000 versus a total put value of 1,527,656,200,000 Combined total value = 1,527,657,250,000

Strike 11200 has a total call value of 1,400,000 versus a total put value of 1,511,536,250,000 Combined total value = 1,511,537,650,000

Strike 11225 has a total call value of 1,750,000 versus a total put value of 1,495,421,200,000 Combined total value = 1,495,422,950,000

Strike 11250 has a total call value of 2,100,000 versus a total put value of 1,479,306,150,000 Combined total value = 1,479,308,250,000

Strike 11275 has a total call value of 2,450,000 versus a total put value of 1,463,191,100,000 Combined total value = 1,463,193,550,000

Strike 11300 has a total call value of 2,800,000 versus a total put value of 1,447,076,050,000 Combined total value = 1,447,078,850,000

Strike 11325 has a total call value of 3,150,000 versus a total put value of 1,430,965,900,000 Combined total value = 1,430,969,050,000

Strike 11350 has a total call value of 3,500,000 versus a total put value of 1,414,855,750,000 Combined total value = 1,414,859,250,000

Strike 11375 has a total call value of 3,850,000 versus a total put value of 1,398,745,600,000 Combined total value = 1,398,749,450,000

Strike 11400 has a total call value of 4,200,000 versus a total put value of 1,382,635,450,000 Combined total value = 1,382,639,650,000

Strike 11425 has a total call value of 4,550,000 versus a total put value of 1,366,529,500,000 Combined total value = 1,366,534,050,000

Strike 11450 has a total call value of 4,900,000 versus a total put value of 1,350,423,550,000 Combined total value = 1,350,428,450,000

Strike 11475 has a total call value of 5,250,000 versus a total put value of 1,334,317,600,000 Combined total value = 1,334,322,850,000

Strike 11500 has a total call value of 5,600,000 versus a total put value of 1,318,211,650,000 Combined total value = 1,318,217,250,000

Strike 11525 has a total call value of 8,050,000 versus a total put value of 1,302,113,050,000 Combined total value = 1,302,121,100,000

Strike 11550 has a total call value of 10,500,000 versus a total put value of 1,286,014,450,000 Combined total value = 1,286,024,950,000

Strike 11575 has a total call value of 12,950,000 versus a total put value of 1,269,915,850,000 Combined total value = 1,269,928,800,000

Strike 11600 has a total call value of 15,400,000 versus a total put value of 1,253,817,250,000 Combined total value = 1,253,832,650,000

Strike 11625 has a total call value of 17,850,000 versus a total put value of 1,237,723,200,000 Combined total value = 1,237,741,050,000

Strike 11650 has a total call value of 20,300,000 versus a total put value of 1,221,629,150,000 Combined total value = 1,221,649,450,000

Strike 11675 has a total call value of 22,750,000 versus a total put value of 1,205,535,100,000 Combined total value = 1,205,557,850,000

Strike 11700 has a total call value of 25,200,000 versus a total put value of 1,189,441,050,000 Combined total value = 1,189,466,250,000

Strike 11725 has a total call value of 27,650,000 versus a total put value of 1,173,351,200,000 Combined total value = 1,173,378,850,000

Strike 11750 has a total call value of 30,100,000 versus a total put value of 1,157,261,350,000 Combined total value = 1,157,291,450,000

Strike 11775 has a total call value of 32,550,000 versus a total put value of 1,141,171,500,000 Combined total value = 1,141,204,050,000

Strike 11800 has a total call value of 35,000,000 versus a total put value of 1,125,081,650,000 Combined total value = 1,125,116,650,000

Strike 11825 has a total call value of 37,450,000 versus a total put value of 1,108,993,200,000 Combined total value = 1,109,030,650,000

Strike 11850 has a total call value of 39,900,000 versus a total put value of 1,092,904,750,000 Combined total value = 1,092,944,650,000

Strike 11875 has a total call value of 42,350,000 versus a total put value of 1,076,816,300,000 Combined total value = 1,076,858,650,000

Strike 11900 has a total call value of 44,800,000 versus a total put value of 1,060,729,950,000 Combined total value = 1,060,774,750,000

Strike 11925 has a total call value of 47,250,000 versus a total put value of 1,044,646,050,000 Combined total value = 1,044,693,300,000

Strike 11950 has a total call value of 49,700,000 versus a total put value of 1,028,562,150,000 Combined total value = 1,028,611,850,000

Strike 11975 has a total call value of 52,150,000 versus a total put value of 1,012,478,250,000 Combined total value = 1,012,530,400,000

Strike 12000 has a total call value of 54,600,000 versus a total put value of 996,394,350,000 Combined total value = 996,448,950,000

Strike 12025 has a total call value of 59,500,000 versus a total put value of 980,519,050,000 Combined total value = 980,578,550,000

Strike 12050 has a total call value of 64,400,000 versus a total put value of 964,647,950,000 Combined total value = 964,712,350,000

Strike 12075 has a total call value of 69,300,000 versus a total put value of 948,781,050,000 Combined total value = 948,850,350,000

Strike 12100 has a total call value of 74,200,000 versus a total put value of 932,918,700,000 Combined total value = 932,992,900,000

Strike 12125 has a total call value of 81,900,000 versus a total put value of 917,063,000,000 Combined total value = 917,144,900,000

Strike 12150 has a total call value of 89,600,000 versus a total put value of 901,212,200,000 Combined total value = 901,301,800,000

Strike 12175 has a total call value of 97,300,000 versus a total put value of 885,364,550,000 Combined total value = 885,461,850,000

Strike 12200 has a total call value of 105,000,000 versus a total put value of 869,524,950,000 Combined total value = 869,629,950,000

Strike 12225 has a total call value of 112,700,000 versus a total put value of 853,691,300,000 Combined total value = 853,804,000,000

Strike 12250 has a total call value of 120,400,000 versus a total put value of 837,859,750,000 Combined total value = 837,980,150,000

Strike 12275 has a total call value of 128,100,000 versus a total put value of 822,032,050,000 Combined total value = 822,160,150,000

Strike 12300 has a total call value of 135,800,000 versus a total put value of 806,209,950,000 Combined total value = 806,345,750,000

Strike 12325 has a total call value of 143,500,000 versus a total put value of 790,393,450,000 Combined total value = 790,536,950,000

Strike 12350 has a total call value of 151,200,000 versus a total put value of 774,579,750,000 Combined total value = 774,730,950,000

Strike 12375 has a total call value of 158,900,000 versus a total put value of 758,768,850,000 Combined total value = 758,927,750,000

Strike 12400 has a total call value of 166,600,000 versus a total put value of 742,960,750,000 Combined total value = 743,127,350,000

Strike 12425 has a total call value of 174,300,000 versus a total put value of 727,158,950,000 Combined total value = 727,333,250,000

Strike 12450 has a total call value of 182,000,000 versus a total put value of 711,361,000,000 Combined total value = 711,543,000,000

Strike 12475 has a total call value of 189,700,000 versus a total put value of 695,566,550,000 Combined total value = 695,756,250,000

Strike 12500 has a total call value of 197,400,000 versus a total put value of 679,774,900,000 Combined total value = 679,972,300,000

Strike 12525 has a total call value of 265,650,000 versus a total put value of 664,298,950,000 Combined total value = 664,564,600,000

Strike 12550 has a total call value of 333,900,000 versus a total put value of 648,825,800,000 Combined total value = 649,159,700,000

Strike 12575 has a total call value of 402,150,000 versus a total put value of 633,356,850,000 Combined total value = 633,759,000,000

Strike 12600 has a total call value of 470,400,000 versus a total put value of 617,891,050,000 Combined total value = 618,361,450,000

Strike 12625 has a total call value of 538,650,000 versus a total put value of 602,445,550,000 Combined total value = 602,984,200,000

Strike 12650 has a total call value of 606,900,000 versus a total put value of 587,003,550,000 Combined total value = 587,610,450,000

Strike 12675 has a total call value of 675,150,000 versus a total put value of 571,565,400,000 Combined total value = 572,240,550,000

Strike 12700 has a total call value of 743,400,000 versus a total put value of 556,131,450,000 Combined total value = 556,874,850,000

Strike 12725 has a total call value of 811,650,000 versus a total put value of 540,747,900,000 Combined total value = 541,559,550,000

Strike 12750 has a total call value of 879,900,000 versus a total put value of 525,372,050,000 Combined total value = 526,251,950,000

Strike 12775 has a total call value of 948,150,000 versus a total put value of 510,018,600,000 Combined total value = 510,966,750,000

Strike 12800 has a total call value of 1,016,400,000 versus a total put value of 494,668,650,000 Combined total value = 495,685,050,000

Strike 12825 has a total call value of 1,084,650,000 versus a total put value of 479,700,550,000 Combined total value = 480,785,200,000

Strike 12850 has a total call value of 1,152,900,000 versus a total put value of 464,735,600,000 Combined total value = 465,888,500,000

Strike 12875 has a total call value of 1,221,150,000 versus a total put value of 449,779,750,000 Combined total value = 451,000,900,000

Strike 12900 has a total call value of 1,289,400,000 versus a total put value of 434,832,650,000 Combined total value = 436,122,050,000

Strike 12925 has a total call value of 1,358,000,000 versus a total put value of 419,982,150,000 Combined total value = 421,340,150,000

Strike 12950 has a total call value of 1,426,600,000 versus a total put value of 405,135,850,000 Combined total value = 406,562,450,000

Strike 12975 has a total call value of 1,495,200,000 versus a total put value of 390,295,150,000 Combined total value = 391,790,350,000

Strike 13000 has a total call value of 1,563,800,000 versus a total put value of 375,473,350,000 Combined total value = 377,037,150,000

Strike 13025 has a total call value of 1,710,450,000 versus a total put value of 362,032,650,000 Combined total value = 363,743,100,000

Strike 13050 has a total call value of 1,857,100,000 versus a total put value of 348,600,000,000 Combined total value = 350,457,100,000

Strike 13075 has a total call value of 2,003,750,000 versus a total put value of 335,174,350,000 Combined total value = 337,178,100,000

Strike 13100 has a total call value of 2,150,400,000 versus a total put value of 321,750,800,000 Combined total value = 323,901,200,000

Strike 13125 has a total call value of 2,297,050,000 versus a total put value of 309,279,250,000 Combined total value = 311,576,300,000

Strike 13150 has a total call value of 2,443,700,000 versus a total put value of 296,819,600,000 Combined total value = 299,263,300,000

Strike 13175 has a total call value of 2,590,350,000 versus a total put value of 284,368,000,000 Combined total value = 286,958,350,000

Strike 13200 has a total call value of 2,737,000,000 versus a total put value of 271,921,300,000 Combined total value = 274,658,300,000

Strike 13225 has a total call value of 2,883,650,000 versus a total put value of 260,350,300,000 Combined total value = 263,233,950,000

Strike 13250 has a total call value of 3,030,300,000 versus a total put value of 248,794,000,000 Combined total value = 251,824,300,000

Strike 13275 has a total call value of 3,176,950,000 versus a total put value of 237,245,050,000 Combined total value = 240,422,000,000

Strike 13300 has a total call value of 3,323,600,000 versus a total put value of 225,724,100,000 Combined total value = 229,047,700,000

Strike 13325 has a total call value of 3,471,650,000 versus a total put value of 215,195,400,000 Combined total value = 218,667,050,000

Strike 13350 has a total call value of 3,619,700,000 versus a total put value of 204,669,150,000 Combined total value = 208,288,850,000

Strike 13375 has a total call value of 3,768,100,000 versus a total put value of 194,162,150,000 Combined total value = 197,930,250,000

Strike 13400 has a total call value of 3,916,500,000 versus a total put value of 183,682,100,000 Combined total value = 187,598,600,000

Strike 13425 has a total call value of 4,066,300,000 versus a total put value of 173,872,300,000 Combined total value = 177,938,600,000

Strike 13450 has a total call value of 4,216,100,000 versus a total put value of 164,062,500,000 Combined total value = 168,278,600,000

Strike 13475 has a total call value of 4,365,900,000 versus a total put value of 154,252,700,000 Combined total value = 158,618,600,000

Strike 13500 has a total call value of 4,515,700,000 versus a total put value of 144,461,450,000 Combined total value = 148,977,150,000

Strike 13525 has a total call value of 4,956,700,000 versus a total put value of 136,240,300,000 Combined total value = 141,197,000,000

Strike 13550 has a total call value of 5,401,200,000 versus a total put value of 128,038,400,000 Combined total value = 133,439,600,000

Strike 13575 has a total call value of 5,845,700,000 versus a total put value of 119,869,050,000 Combined total value = 125,714,750,000

Strike 13600 has a total call value of 6,290,200,000 versus a total put value of 111,718,600,000 Combined total value = 118,008,800,000

Strike 13625 has a total call value of 6,756,050,000 versus a total put value of 104,299,300,000 Combined total value = 111,055,350,000

Strike 13650 has a total call value of 7,221,900,000 versus a total put value of 96,933,200,000 Combined total value = 104,155,100,000

Strike 13675 has a total call value of 7,691,950,000 versus a total put value of 89,592,650,000 Combined total value = 97,284,600,000

Strike 13700 has a total call value of 8,162,350,000 versus a total put value of 82,272,400,000 Combined total value = 90,434,750,000

Strike 13725 has a total call value of 8,754,200,000 versus a total put value of 75,654,950,000 Combined total value = 84,409,150,000

Strike 13750 has a total call value of 9,353,750,000 versus a total put value of 69,060,600,000 Combined total value = 78,414,350,000

Strike 13775 has a total call value of 9,975,350,000 versus a total put value of 62,517,000,000 Combined total value = 72,492,350,000

Strike 13800 has a total call value of 10,605,350,000 versus a total put value of 56,013,650,000 Combined total value = 66,619,000,000

Strike 13825 has a total call value of 11,582,200,000 versus a total put value of 50,402,800,000 Combined total value = 61,985,000,000

Strike 13850 has a total call value of 12,581,450,000 versus a total put value of 44,848,650,000 Combined total value = 57,430,100,000

Strike 13875 has a total call value of 13,661,200,000 versus a total put value of 39,417,000,000 Combined total value = 53,078,200,000

Strike 13900 has a total call value of 14,792,750,000 versus a total put value of 34,044,850,000 Combined total value = 48,837,600,000

Strike 13925 has a total call value of 16,617,650,000 versus a total put value of 29,374,800,000 Combined total value = 45,992,450,000

Strike 13950 has a total call value of 18,525,500,000 versus a total put value of 24,783,500,000 Combined total value = 43,309,000,000

Strike 13975 has a total call value of 20,713,700,000 versus a total put value of 20,335,350,000 Combined total value = 41,049,050,000

Strike 14000 has a total call value of 23,071,300,000 versus a total put value of 15,968,050,000 Combined total value = 39,039,350,000

Strike 14025 has a total call value of 28,118,650,000 versus a total put value of 14,030,450,000 Combined total value = 42,149,100,000

Strike 14050 has a total call value of 33,276,250,000 versus a total put value of 12,168,450,000 Combined total value = 45,444,700,000

Strike 14075 has a total call value of 38,743,250,000 versus a total put value of 10,451,000,000 Combined total value = 49,194,250,000

Strike 14100 has a total call value of 44,301,250,000 versus a total put value of 8,796,900,000 Combined total value = 53,098,150,000

Strike 14125 has a total call value of 51,899,750,000 versus a total put value of 8,040,550,000 Combined total value = 59,940,300,000

Strike 14150 has a total call value of 59,572,800,000 versus a total put value of 7,320,250,000 Combined total value = 66,893,050,000

Strike 14175 has a total call value of 67,413,850,000 versus a total put value of 6,674,500,000 Combined total value = 74,088,350,000

Strike 14200 has a total call value of 75,294,800,000 versus a total put value of 6,053,250,000 Combined total value = 81,348,050,000

Strike 14225 has a total call value of 84,044,100,000 versus a total put value of 5,591,950,000 Combined total value = 89,636,050,000

Strike 14250 has a total call value of 92,834,700,000 versus a total put value of 5,139,400,000 Combined total value = 97,974,100,000

Strike 14275 has a total call value of 101,756,550,000 versus a total put value of 4,706,800,000 Combined total value = 106,463,350,000

Strike 14300 has a total call value of 110,715,850,000 versus a total put value of 4,287,500,000 Combined total value = 115,003,350,000

Strike 14325 has a total call value of 120,753,150,000 versus a total put value of 4,039,700,000 Combined total value = 124,792,850,000

Strike 14350 has a total call value of 130,831,050,000 versus a total put value of 3,791,900,000 Combined total value = 134,622,950,000

Strike 14375 has a total call value of 141,395,100,000 versus a total put value of 3,544,100,000 Combined total value = 144,939,200,000

Strike 14400 has a total call value of 151,959,150,000 versus a total put value of 3,296,300,000 Combined total value = 155,255,450,000

Strike 14425 has a total call value of 163,477,300,000 versus a total put value of 3,084,550,000 Combined total value = 166,561,850,000

Strike 14450 has a total call value of 175,040,600,000 versus a total put value of 2,872,800,000 Combined total value = 177,913,400,000

Strike 14475 has a total call value of 186,686,850,000 versus a total put value of 2,661,400,000 Combined total value = 189,348,250,000

Strike 14500 has a total call value of 198,358,300,000 versus a total put value of 2,450,000,000 Combined total value = 200,808,300,000

Strike 14525 has a total call value of 212,107,700,000 versus a total put value of 2,331,350,000 Combined total value = 214,439,050,000

Strike 14550 has a total call value of 225,857,100,000 versus a total put value of 2,212,700,000 Combined total value = 228,069,800,000

Strike 14575 has a total call value of 239,606,500,000 versus a total put value of 2,094,050,000 Combined total value = 241,700,550,000

Strike 14600 has a total call value of 253,355,900,000 versus a total put value of 1,975,400,000 Combined total value = 255,331,300,000

Strike 14625 has a total call value of 267,850,100,000 versus a total put value of 1,856,750,000 Combined total value = 269,706,850,000

Strike 14650 has a total call value of 282,344,650,000 versus a total put value of 1,738,100,000 Combined total value = 284,082,750,000

Strike 14675 has a total call value of 296,933,000,000 versus a total put value of 1,619,450,000 Combined total value = 298,552,450,000

Strike 14700 has a total call value of 311,547,950,000 versus a total put value of 1,500,800,000 Combined total value = 313,048,750,000

Strike 14725 has a total call value of 327,041,750,000 versus a total put value of 1,382,150,000 Combined total value = 328,423,900,000

Strike 14750 has a total call value of 342,535,900,000 versus a total put value of 1,263,500,000 Combined total value = 343,799,400,000

Strike 14775 has a total call value of 358,030,400,000 versus a total put value of 1,144,850,000 Combined total value = 359,175,250,000

Strike 14800 has a total call value of 373,524,900,000 versus a total put value of 1,026,200,000 Combined total value = 374,551,100,000

Strike 14825 has a total call value of 390,451,950,000 versus a total put value of 907,550,000 Combined total value = 391,359,500,000

Strike 14850 has a total call value of 407,379,000,000 versus a total put value of 788,900,000 Combined total value = 408,167,900,000

Strike 14875 has a total call value of 424,306,050,000 versus a total put value of 670,250,000 Combined total value = 424,976,300,000

Strike 14900 has a total call value of 441,233,100,000 versus a total put value of 551,600,000 Combined total value = 441,784,700,000

Strike 14925 has a total call value of 458,474,100,000 versus a total put value of 432,950,000 Combined total value = 458,907,050,000

Strike 14950 has a total call value of 475,715,100,000 versus a total put value of 314,300,000 Combined total value = 476,029,400,000

Strike 14975 has a total call value of 492,956,100,000 versus a total put value of 195,650,000 Combined total value = 493,151,750,000

Strike 15000 has a total call value of 510,197,100,000 versus a total put value of 77,000,000 Combined total value = 510,274,100,000

Strike 15025 has a total call value of 529,463,200,000 versus a total put value of 73,150,000 Combined total value = 529,536,350,000

Strike 15050 has a total call value of 548,729,300,000 versus a total put value of 69,300,000 Combined total value = 548,798,600,000

Strike 15075 has a total call value of 567,995,400,000 versus a total put value of 65,450,000 Combined total value = 568,060,850,000

Strike 15100 has a total call value of 587,261,500,000 versus a total put value of 61,600,000 Combined total value = 587,323,100,000

Strike 15125 has a total call value of 606,579,050,000 versus a total put value of 57,750,000 Combined total value = 606,636,800,000

Strike 15150 has a total call value of 625,896,600,000 versus a total put value of 53,900,000 Combined total value = 625,950,500,000

Strike 15175 has a total call value of 645,214,150,000 versus a total put value of 50,050,000 Combined total value = 645,264,200,000

Strike 15200 has a total call value of 664,531,700,000 versus a total put value of 46,200,000 Combined total value = 664,577,900,000

Strike 15225 has a total call value of 683,861,850,000 versus a total put value of 42,350,000 Combined total value = 683,904,200,000

Strike 15250 has a total call value of 703,192,000,000 versus a total put value of 38,500,000 Combined total value = 703,230,500,000

Strike 15275 has a total call value of 722,522,150,000 versus a total put value of 34,650,000 Combined total value = 722,556,800,000

Strike 15300 has a total call value of 741,852,300,000 versus a total put value of 30,800,000 Combined total value = 741,883,100,000

Strike 15325 has a total call value of 761,300,050,000 versus a total put value of 26,950,000 Combined total value = 761,327,000,000

Strike 15350 has a total call value of 780,747,800,000 versus a total put value of 23,100,000 Combined total value = 780,770,900,000

Strike 15375 has a total call value of 800,195,550,000 versus a total put value of 19,250,000 Combined total value = 800,214,800,000

Strike 15400 has a total call value of 819,643,300,000 versus a total put value of 15,400,000 Combined total value = 819,658,700,000

Strike 15425 has a total call value of 839,098,750,000 versus a total put value of 11,550,000 Combined total value = 839,110,300,000

Strike 15450 has a total call value of 858,554,200,000 versus a total put value of 7,700,000 Combined total value = 858,561,900,000

Strike 15475 has a total call value of 878,009,650,000 versus a total put value of 3,850,000 Combined total value = 878,013,500,000

Strike 15500 has a total call value of 897,465,100,000 versus a total put value of 0 Combined total value = 897,465,100,000

Strike 15525 has a total call value of 917,154,350,000 versus a total put value of 0 Combined total value = 917,154,350,000

Strike 15550 has a total call value of 936,843,600,000 versus a total put value of 0 Combined total value = 936,843,600,000

Strike 15575 has a total call value of 956,532,850,000 versus a total put value of 0 Combined total value = 956,532,850,000

Strike 15600 has a total call value of 976,222,100,000 versus a total put value of 0 Combined total value = 976,222,100,000

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	1142.4	1140
ABB	5125	5200
ABCAPITAL	355.4	345
ADANIENSOL	964.65	980
ADANIENT	2234.4	2300
ADANIGREEN	1004	1040
ADANIPORTS	1492.2	1500
ALKEM	5691.5	5700
AMBER	6495.5	6500
AMBUJACEM	532.95	550
ANGELONE	2548.6	2650
APLAPOLLO	1734.2	1760
APOLLOHOSP	7119	7300
ASHOKLEY	159.41	157
ASIANPAINT	2938.7	2920
ASTRAL	1425.5	1460
AUBANK	954.2	940
AUROPHARMA	1194	1220
AXISBANK	1269.7	1280
BAJAJ-AUTO	9008	9100
BAJAJFINSV	2070.5	2080
BAJFINANCE	1029.3	1030
BANDHANBNK	138.51	150
BANKBARODA	285.3	290
BANKINDIA	138.74	145
BDL	1452.4	1500
BEL	392	410
BHARATFORG	1377	1400
BHARTIARTL	2088.9	2100
BHEL	271.65	285
BIOCON	387.05	400
BLUESTARCO	1711.5	1760
BOSCHLTD	36650	36500
BPCL	359.65	360
BRITANNIA	5862	5900
BSE	2837.6	2800
CAMS	752.1	780
CANBK	143.78	150
CDSL	1530	1600
CGPOWER	652.3	680
CHOLAFIN	1727.6	1700
CIPLA	1511	1520
COALINDIA	377.3	380
COFORGE	1941.4	1860
COLPAL	2151.4	2200
CONCOR	508.15	520
CROMPTON	254.65	270
CUMMINSIND	4464.8	4450
CYIENT	1147.1	1160
DABUR	503.95	515
DALBHARAT	1995.2	2000
DELHIVERY	400.4	420
DIVISLAB	6379	6450
DIXON	13721	14250
DLF	691.55	730
DMART	3892.4	4000
DRREDDY	1269.5	1270
EICHERMOT	7190.5	7100
ETERNAL	285.5	300
EXIDEIND	373.95	380
FEDERALBNK	256.5	255
FORTIS	861.2	900
GAIL	166.95	175
GLENMARK	1946	1940
GMRAIRPORT	100.48	102
GODREJCP	1123.8	1140
GODREJPROP	1984.8	2080
GRASIM	2747.1	2760
HAL	4371	4500
HAVELLS	1415	1440
HCLTECH	1689.4	1660
HDFCAMC	2573.8	2650
HDFCBANK	1004.8	1000
HDFCLIFE	772.8	770
HEROMOTOCO	6198.5	6200
HFCL	67.56	70
HINDALCO	823.8	800
HINDPETRO	447	455
HINDUNILVR	2334.9	2340
HINDZINC	494.2	490
HUDCO	216.47	230
ICICIBANK	1390.5	1390
ICICIGI	1967.1	2000
ICICIPRULI	627.45	620
IDEA	10.42	10
IDFCFIRSTB	79.83	80
IEX	142.83	145
IIFL	554.4	560
INDHOTEL	725.8	740
INDIANB	786.1	830
INDIGO	4967	5300
INDUSINDBK	846.4	860
INDUSTOWER	404.75	410
INFY	1618.4	1600
INOXWIND	126.39	137.5
IOC	162.85	165
IRCTC	670.3	690
IREDA	131.28	140
IRFC	112.09	118
ITC	404.85	405
JINDALSTEL	998	1030
JIOFIN	298.15	310
JSWENERGY	460.45	480
JSWSTEEL	1139	1150
JUBLFOOD	584.1	600
KALYANKJIL	480.9	490
KAYNES	4094.5	5000
KEI	4110	4100
KFINTECH	1054.4	1080
KOTAKBANK	2143.7	2120
KPITTECH	1232.5	1240
LAURUSLABS	1014.1	1000
LICHSGFIN	531.85	550
LICI	862.05	900
LODHA	1083.3	1140
LT	4003.5	4020
LTF	301.25	302.5
LTIM	6272.5	6150
LUPIN	2080.2	2080
M&M	3689	3700
MANAPPURAM	272.4	280
MANKIND	2189.5	2250
MARICO	731.6	730
MARUTI	16167	16100
MAXHEALTH	1082.3	1120
MAZDOCK	2521.6	2650
MCX	10280	10100
MFSL	1691	1700
MOTHERSON	115.92	115
MPHASIS	2884.1	2900
MUTHOOTFIN	3762.3	3700
NATIONALUM	271.35	265
NAUKRI	1366.7	1380
NBCC	109.28	115
NCC	164.04	175
NESTLEIND	1228.7	1260
NHPC	76.68	78
NMDC	75.16	76
NTPC	320.75	325
NUVAMA	7220	7200
NYKAA	252.2	260
OBEROIRLTY	1620.8	1660
OFSS	8045	8200
OIL	407.9	420
ONGC	240.95	244
PAGEIND	37115	38000
PATANJALI	545.5	550
PAYTM	1338	1320
PERSISTENT	6356.5	6400
PETRONET	272.5	280
PFC	345.4	365
PGEL	531.7	560
PHOENIXLTD	1715.1	1740
PIDILITIND	1462.5	1480
PIIND	3329.2	3450
PNB	117.62	122
PNBHOUSING	883.35	900
POLICYBZR	1917.1	1880
POLYCAB	7100	7300
POWERGRID	266.05	275
POWERINDIA	18595	20000
PPLPHARMA	174.84	185
PRESTIGE	1625	1680
RBLBANK	300.45	310
RECLTD	345.05	360
RELIANCE	1542.9	1540
RVNL	305.2	315
SAIL	130.28	135
SAMMAANCAP	142.9	160
SBICARD	878.9	880
SBILIFE	2028.5	2020
SBIN	958.1	970
SHREECEM	26190	26500
SHRIRAMFIN	842.65	840
SIEMENS	3256.5	3300
SOLARINDS	12611	13250
SONACOMS	487.75	500
SRF	2835.8	2900
SUNPHARMA	1799.1	1800
SUPREMEIND	3320.6	3500
SUZLON	52.18	55
SYNGENE	630.25	650
TATACONSUM	1155	1170
TATAELXSI	5128.5	5300
TATAMOTORS	0	320
TATAPOWER	378	390
TATASTEEL	165.47	170
TATATECH	656.25	680
TCS	3244.8	3200
TECHM	1579.1	1520
TIINDIA	2602	2800
TITAGARH	768.25	820
TITAN	3808.7	3860
TMPV	350.95	360
TORNTPHARM	3763.4	3750
TORNTPOWER	1259.2	1300
TRENT	4145.2	4300
TVSMOTOR	3602.4	3600
ULTRACEMCO	11600	11700
UNIONBANK	148.7	152.5
UNITDSPR	1437.1	1450
UNOMINDA	1264.6	1300
UPL	746.4	750
VBL	469.6	470
VEDL	517.7	520
VOLTAS	1319.5	1360
WIPRO	260.75	255
YESBANK	22.13	23
ZYDUSLIFE	931.35	940

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 MIDCPNIFTY

MIDCPNIFTY

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

BHEL

BIOCON

BLUESTARCO

BOSCHLTD

BPCL

BRITANNIA

BSE

CAMS

CANBK

CDSL

CGPOWER

CHOLAFIN

CIPLA

COALINDIA

COFORGE

COLPAL

CONCOR

COPPER

CROMPTON

CRUDEOIL

CRUDEOILM

CUMMINSIND

CYIENT

DABUR

DALBHARAT

DELHIVERY

DIVISLAB

DIXON

DLF

DMART

DRREDDY

EICHERMOT

ETERNAL

EURINR

EURUSD

EXIDEIND

FEDERALBNK

FINNIFTY

FORTIS

GAIL

GBPINR

GBPUSD

GLENMARK

GMRAIRPORT

GODREJCP

GODREJPROP

GOLD