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

13729.4 -18.60 (-0.14%)

L: 13724.45 H: 13743.9

Max Pain - MIDCPNIFTY

17 Dec 2025 09:15 AM IST

Live

Expiry

Max Pain for MIDCPNIFTY is 13825

Historical data for MIDCPNIFTY-13825-CE

LTP (13825 CE)

128 -5.95

Open Interest

581 0

Historical data for MIDCPNIFTY-13825-PE

LTP (13825 PE)

193.55 67

Open Interest

226 0

Strike 11100 has a total call value of 0 versus a total put value of 2,026,788,400,000 Combined total value = 2,026,788,400,000

Strike 11125 has a total call value of 350,000 versus a total put value of 2,004,388,750,000 Combined total value = 2,004,389,100,000

Strike 11150 has a total call value of 700,000 versus a total put value of 1,981,989,100,000 Combined total value = 1,981,989,800,000

Strike 11175 has a total call value of 1,050,000 versus a total put value of 1,959,589,450,000 Combined total value = 1,959,590,500,000

Strike 11200 has a total call value of 1,400,000 versus a total put value of 1,937,189,800,000 Combined total value = 1,937,191,200,000

Strike 11225 has a total call value of 1,750,000 versus a total put value of 1,914,795,400,000 Combined total value = 1,914,797,150,000

Strike 11250 has a total call value of 2,100,000 versus a total put value of 1,892,401,000,000 Combined total value = 1,892,403,100,000

Strike 11275 has a total call value of 2,450,000 versus a total put value of 1,870,006,600,000 Combined total value = 1,870,009,050,000

Strike 11300 has a total call value of 2,800,000 versus a total put value of 1,847,612,200,000 Combined total value = 1,847,615,000,000

Strike 11325 has a total call value of 3,150,000 versus a total put value of 1,825,224,100,000 Combined total value = 1,825,227,250,000

Strike 11350 has a total call value of 3,500,000 versus a total put value of 1,802,836,000,000 Combined total value = 1,802,839,500,000

Strike 11375 has a total call value of 3,850,000 versus a total put value of 1,780,447,900,000 Combined total value = 1,780,451,750,000

Strike 11400 has a total call value of 4,200,000 versus a total put value of 1,758,059,800,000 Combined total value = 1,758,064,000,000

Strike 11425 has a total call value of 4,550,000 versus a total put value of 1,735,676,250,000 Combined total value = 1,735,680,800,000

Strike 11450 has a total call value of 4,900,000 versus a total put value of 1,713,292,700,000 Combined total value = 1,713,297,600,000

Strike 11475 has a total call value of 5,250,000 versus a total put value of 1,690,909,150,000 Combined total value = 1,690,914,400,000

Strike 11500 has a total call value of 5,600,000 versus a total put value of 1,668,525,600,000 Combined total value = 1,668,531,200,000

Strike 11525 has a total call value of 8,050,000 versus a total put value of 1,646,169,350,000 Combined total value = 1,646,177,400,000

Strike 11550 has a total call value of 10,500,000 versus a total put value of 1,623,813,100,000 Combined total value = 1,623,823,600,000

Strike 11575 has a total call value of 12,950,000 versus a total put value of 1,601,456,850,000 Combined total value = 1,601,469,800,000

Strike 11600 has a total call value of 15,400,000 versus a total put value of 1,579,100,600,000 Combined total value = 1,579,116,000,000

Strike 11625 has a total call value of 17,850,000 versus a total put value of 1,556,748,550,000 Combined total value = 1,556,766,400,000

Strike 11650 has a total call value of 20,300,000 versus a total put value of 1,534,396,500,000 Combined total value = 1,534,416,800,000

Strike 11675 has a total call value of 22,750,000 versus a total put value of 1,512,044,450,000 Combined total value = 1,512,067,200,000

Strike 11700 has a total call value of 25,200,000 versus a total put value of 1,489,692,400,000 Combined total value = 1,489,717,600,000

Strike 11725 has a total call value of 27,650,000 versus a total put value of 1,467,347,350,000 Combined total value = 1,467,375,000,000

Strike 11750 has a total call value of 30,100,000 versus a total put value of 1,445,002,300,000 Combined total value = 1,445,032,400,000

Strike 11775 has a total call value of 32,550,000 versus a total put value of 1,422,657,250,000 Combined total value = 1,422,689,800,000

Strike 11800 has a total call value of 35,000,000 versus a total put value of 1,400,312,200,000 Combined total value = 1,400,347,200,000

Strike 11825 has a total call value of 37,450,000 versus a total put value of 1,377,970,300,000 Combined total value = 1,378,007,750,000

Strike 11850 has a total call value of 39,900,000 versus a total put value of 1,355,628,400,000 Combined total value = 1,355,668,300,000

Strike 11875 has a total call value of 42,350,000 versus a total put value of 1,333,286,500,000 Combined total value = 1,333,328,850,000

Strike 11900 has a total call value of 44,800,000 versus a total put value of 1,310,952,650,000 Combined total value = 1,310,997,450,000

Strike 11925 has a total call value of 47,250,000 versus a total put value of 1,288,633,500,000 Combined total value = 1,288,680,750,000

Strike 11950 has a total call value of 49,700,000 versus a total put value of 1,266,314,350,000 Combined total value = 1,266,364,050,000

Strike 11975 has a total call value of 52,150,000 versus a total put value of 1,243,995,200,000 Combined total value = 1,244,047,350,000

Strike 12000 has a total call value of 54,600,000 versus a total put value of 1,221,676,050,000 Combined total value = 1,221,730,650,000

Strike 12025 has a total call value of 58,800,000 versus a total put value of 1,200,001,950,000 Combined total value = 1,200,060,750,000

Strike 12050 has a total call value of 63,000,000 versus a total put value of 1,178,332,750,000 Combined total value = 1,178,395,750,000

Strike 12075 has a total call value of 67,200,000 versus a total put value of 1,156,669,500,000 Combined total value = 1,156,736,700,000

Strike 12100 has a total call value of 71,400,000 versus a total put value of 1,135,011,500,000 Combined total value = 1,135,082,900,000

Strike 12125 has a total call value of 78,050,000 versus a total put value of 1,113,361,550,000 Combined total value = 1,113,439,600,000

Strike 12150 has a total call value of 84,700,000 versus a total put value of 1,091,716,500,000 Combined total value = 1,091,801,200,000

Strike 12175 has a total call value of 91,350,000 versus a total put value of 1,070,078,100,000 Combined total value = 1,070,169,450,000

Strike 12200 has a total call value of 98,000,000 versus a total put value of 1,048,444,600,000 Combined total value = 1,048,542,600,000

Strike 12225 has a total call value of 104,650,000 versus a total put value of 1,026,827,550,000 Combined total value = 1,026,932,200,000

Strike 12250 has a total call value of 111,300,000 versus a total put value of 1,005,214,000,000 Combined total value = 1,005,325,300,000

Strike 12275 has a total call value of 117,950,000 versus a total put value of 983,607,450,000 Combined total value = 983,725,400,000

Strike 12300 has a total call value of 124,600,000 versus a total put value of 962,004,750,000 Combined total value = 962,129,350,000

Strike 12325 has a total call value of 131,250,000 versus a total put value of 940,446,150,000 Combined total value = 940,577,400,000

Strike 12350 has a total call value of 137,900,000 versus a total put value of 918,890,350,000 Combined total value = 919,028,250,000

Strike 12375 has a total call value of 144,550,000 versus a total put value of 897,337,000,000 Combined total value = 897,481,550,000

Strike 12400 has a total call value of 151,200,000 versus a total put value of 875,787,500,000 Combined total value = 875,938,700,000

Strike 12425 has a total call value of 157,850,000 versus a total put value of 854,271,950,000 Combined total value = 854,429,800,000

Strike 12450 has a total call value of 164,500,000 versus a total put value of 832,761,300,000 Combined total value = 832,925,800,000

Strike 12475 has a total call value of 171,150,000 versus a total put value of 811,265,350,000 Combined total value = 811,436,500,000

Strike 12500 has a total call value of 177,800,000 versus a total put value of 789,783,750,000 Combined total value = 789,961,550,000

Strike 12525 has a total call value of 245,700,000 versus a total put value of 769,107,850,000 Combined total value = 769,353,550,000

Strike 12550 has a total call value of 313,600,000 versus a total put value of 748,446,300,000 Combined total value = 748,759,900,000

Strike 12575 has a total call value of 381,500,000 versus a total put value of 727,791,400,000 Combined total value = 728,172,900,000

Strike 12600 has a total call value of 449,400,000 versus a total put value of 707,143,500,000 Combined total value = 707,592,900,000

Strike 12625 has a total call value of 517,300,000 versus a total put value of 686,641,200,000 Combined total value = 687,158,500,000

Strike 12650 has a total call value of 585,200,000 versus a total put value of 666,145,900,000 Combined total value = 666,731,100,000

Strike 12675 has a total call value of 653,100,000 versus a total put value of 645,661,800,000 Combined total value = 646,314,900,000

Strike 12700 has a total call value of 721,000,000 versus a total put value of 625,182,250,000 Combined total value = 625,903,250,000

Strike 12725 has a total call value of 788,900,000 versus a total put value of 604,994,600,000 Combined total value = 605,783,500,000

Strike 12750 has a total call value of 856,800,000 versus a total put value of 584,842,650,000 Combined total value = 585,699,450,000

Strike 12775 has a total call value of 924,700,000 versus a total put value of 564,856,250,000 Combined total value = 565,780,950,000

Strike 12800 has a total call value of 992,600,000 versus a total put value of 544,897,850,000 Combined total value = 545,890,450,000

Strike 12825 has a total call value of 1,060,500,000 versus a total put value of 525,809,200,000 Combined total value = 526,869,700,000

Strike 12850 has a total call value of 1,128,400,000 versus a total put value of 506,743,650,000 Combined total value = 507,872,050,000

Strike 12875 has a total call value of 1,196,300,000 versus a total put value of 487,708,200,000 Combined total value = 488,904,500,000

Strike 12900 has a total call value of 1,264,200,000 versus a total put value of 468,689,550,000 Combined total value = 469,953,750,000

Strike 12925 has a total call value of 1,332,450,000 versus a total put value of 449,962,800,000 Combined total value = 451,295,250,000

Strike 12950 has a total call value of 1,400,700,000 versus a total put value of 431,254,950,000 Combined total value = 432,655,650,000

Strike 12975 has a total call value of 1,468,950,000 versus a total put value of 412,572,650,000 Combined total value = 414,041,600,000

Strike 13000 has a total call value of 1,537,200,000 versus a total put value of 393,915,900,000 Combined total value = 395,453,100,000

Strike 13025 has a total call value of 1,685,250,000 versus a total put value of 377,555,150,000 Combined total value = 379,240,400,000

Strike 13050 has a total call value of 1,833,300,000 versus a total put value of 361,206,650,000 Combined total value = 363,039,950,000

Strike 13075 has a total call value of 1,981,350,000 versus a total put value of 344,894,900,000 Combined total value = 346,876,250,000

Strike 13100 has a total call value of 2,129,400,000 versus a total put value of 328,589,800,000 Combined total value = 330,719,200,000

Strike 13125 has a total call value of 2,277,450,000 versus a total put value of 313,530,700,000 Combined total value = 315,808,150,000

Strike 13150 has a total call value of 2,425,500,000 versus a total put value of 298,478,250,000 Combined total value = 300,903,750,000

Strike 13175 has a total call value of 2,573,550,000 versus a total put value of 283,472,350,000 Combined total value = 286,045,900,000

Strike 13200 has a total call value of 2,722,650,000 versus a total put value of 268,483,250,000 Combined total value = 271,205,900,000

Strike 13225 has a total call value of 2,878,400,000 versus a total put value of 254,732,100,000 Combined total value = 257,610,500,000

Strike 13250 has a total call value of 3,037,650,000 versus a total put value of 241,007,550,000 Combined total value = 244,045,200,000

Strike 13275 has a total call value of 3,200,400,000 versus a total put value of 227,625,300,000 Combined total value = 230,825,700,000

Strike 13300 has a total call value of 3,363,850,000 versus a total put value of 214,273,500,000 Combined total value = 217,637,350,000

Strike 13325 has a total call value of 3,541,300,000 versus a total put value of 201,624,150,000 Combined total value = 205,165,450,000

Strike 13350 has a total call value of 3,719,800,000 versus a total put value of 189,000,350,000 Combined total value = 192,720,150,000

Strike 13375 has a total call value of 3,899,000,000 versus a total put value of 176,495,200,000 Combined total value = 180,394,200,000

Strike 13400 has a total call value of 4,078,200,000 versus a total put value of 164,026,800,000 Combined total value = 168,105,000,000

Strike 13425 has a total call value of 4,273,850,000 versus a total put value of 152,574,800,000 Combined total value = 156,848,650,000

Strike 13450 has a total call value of 4,470,900,000 versus a total put value of 141,149,050,000 Combined total value = 145,619,950,000

Strike 13475 has a total call value of 4,671,450,000 versus a total put value of 129,812,200,000 Combined total value = 134,483,650,000

Strike 13500 has a total call value of 4,872,000,000 versus a total put value of 118,508,950,000 Combined total value = 123,380,950,000

Strike 13525 has a total call value of 5,482,050,000 versus a total put value of 110,035,450,000 Combined total value = 115,517,500,000

Strike 13550 has a total call value of 6,103,300,000 versus a total put value of 101,595,200,000 Combined total value = 107,698,500,000

Strike 13575 has a total call value of 6,796,650,000 versus a total put value of 93,342,200,000 Combined total value = 100,138,850,000

Strike 13600 has a total call value of 7,513,800,000 versus a total put value of 85,143,450,000 Combined total value = 92,657,250,000

Strike 13625 has a total call value of 8,590,050,000 versus a total put value of 78,431,850,000 Combined total value = 87,021,900,000

Strike 13650 has a total call value of 9,692,550,000 versus a total put value of 71,769,950,000 Combined total value = 81,462,500,000

Strike 13675 has a total call value of 10,922,450,000 versus a total put value of 65,268,700,000 Combined total value = 76,191,150,000

Strike 13700 has a total call value of 12,190,850,000 versus a total put value of 58,832,550,000 Combined total value = 71,023,400,000

Strike 13725 has a total call value of 14,045,500,000 versus a total put value of 53,504,850,000 Combined total value = 67,550,350,000

Strike 13750 has a total call value of 15,964,550,000 versus a total put value of 48,349,700,000 Combined total value = 64,314,250,000

Strike 13775 has a total call value of 18,245,500,000 versus a total put value of 43,445,850,000 Combined total value = 61,691,350,000

Strike 13800 has a total call value of 20,618,500,000 versus a total put value of 38,589,250,000 Combined total value = 59,207,750,000

Strike 13825 has a total call value of 24,227,700,000 versus a total put value of 34,880,300,000 Combined total value = 59,108,000,000

Strike 13850 has a total call value of 28,040,250,000 versus a total put value of 31,250,450,000 Combined total value = 59,290,700,000

Strike 13875 has a total call value of 32,012,750,000 versus a total put value of 27,745,550,000 Combined total value = 59,758,300,000

Strike 13900 has a total call value of 36,074,500,000 versus a total put value of 24,286,850,000 Combined total value = 60,361,350,000

Strike 13925 has a total call value of 41,148,800,000 versus a total put value of 21,385,350,000 Combined total value = 62,534,150,000

Strike 13950 has a total call value of 46,291,700,000 versus a total put value of 18,513,950,000 Combined total value = 64,805,650,000

Strike 13975 has a total call value of 51,583,700,000 versus a total put value of 15,740,550,000 Combined total value = 67,324,250,000

Strike 14000 has a total call value of 56,950,600,000 versus a total put value of 13,006,700,000 Combined total value = 69,957,300,000

Strike 14025 has a total call value of 64,741,250,000 versus a total put value of 11,576,250,000 Combined total value = 76,317,500,000

Strike 14050 has a total call value of 72,614,850,000 versus a total put value of 10,185,350,000 Combined total value = 82,800,200,000

Strike 14075 has a total call value of 80,778,950,000 versus a total put value of 8,870,400,000 Combined total value = 89,649,350,000

Strike 14100 has a total call value of 89,051,900,000 versus a total put value of 7,592,200,000 Combined total value = 96,644,100,000

Strike 14125 has a total call value of 98,840,000,000 versus a total put value of 6,995,450,000 Combined total value = 105,835,450,000

Strike 14150 has a total call value of 108,696,350,000 versus a total put value of 6,431,600,000 Combined total value = 115,127,950,000

Strike 14175 has a total call value of 118,735,050,000 versus a total put value of 5,932,150,000 Combined total value = 124,667,200,000

Strike 14200 has a total call value of 128,839,550,000 versus a total put value of 5,451,950,000 Combined total value = 134,291,500,000

Strike 14225 has a total call value of 140,880,950,000 versus a total put value of 5,076,750,000 Combined total value = 145,957,700,000

Strike 14250 has a total call value of 152,954,200,000 versus a total put value of 4,707,500,000 Combined total value = 157,661,700,000

Strike 14275 has a total call value of 165,436,250,000 versus a total put value of 4,367,300,000 Combined total value = 169,803,550,000

Strike 14300 has a total call value of 177,959,600,000 versus a total put value of 4,039,700,000 Combined total value = 181,999,300,000

Strike 14325 has a total call value of 192,138,450,000 versus a total put value of 3,831,450,000 Combined total value = 195,969,900,000

Strike 14350 has a total call value of 206,364,200,000 versus a total put value of 3,623,200,000 Combined total value = 209,987,400,000

Strike 14375 has a total call value of 220,681,650,000 versus a total put value of 3,414,950,000 Combined total value = 224,096,600,000

Strike 14400 has a total call value of 235,025,350,000 versus a total put value of 3,206,700,000 Combined total value = 238,232,050,000

Strike 14425 has a total call value of 250,678,050,000 versus a total put value of 3,025,400,000 Combined total value = 253,703,450,000

Strike 14450 has a total call value of 266,373,800,000 versus a total put value of 2,844,100,000 Combined total value = 269,217,900,000

Strike 14475 has a total call value of 282,196,950,000 versus a total put value of 2,663,150,000 Combined total value = 284,860,100,000

Strike 14500 has a total call value of 298,042,150,000 versus a total put value of 2,482,200,000 Combined total value = 300,524,350,000

Strike 14525 has a total call value of 316,783,250,000 versus a total put value of 2,361,800,000 Combined total value = 319,145,050,000

Strike 14550 has a total call value of 335,539,750,000 versus a total put value of 2,241,400,000 Combined total value = 337,781,150,000

Strike 14575 has a total call value of 354,651,850,000 versus a total put value of 2,121,000,000 Combined total value = 356,772,850,000

Strike 14600 has a total call value of 373,776,900,000 versus a total put value of 2,000,600,000 Combined total value = 375,777,500,000

Strike 14625 has a total call value of 393,556,800,000 versus a total put value of 1,880,200,000 Combined total value = 395,437,000,000

Strike 14650 has a total call value of 413,343,000,000 versus a total put value of 1,759,800,000 Combined total value = 415,102,800,000

Strike 14675 has a total call value of 433,216,000,000 versus a total put value of 1,639,400,000 Combined total value = 434,855,400,000

Strike 14700 has a total call value of 453,113,150,000 versus a total put value of 1,519,000,000 Combined total value = 454,632,150,000

Strike 14725 has a total call value of 474,000,100,000 versus a total put value of 1,398,600,000 Combined total value = 475,398,700,000

Strike 14750 has a total call value of 494,895,100,000 versus a total put value of 1,278,200,000 Combined total value = 496,173,300,000

Strike 14775 has a total call value of 515,821,600,000 versus a total put value of 1,157,800,000 Combined total value = 516,979,400,000

Strike 14800 has a total call value of 536,748,100,000 versus a total put value of 1,037,400,000 Combined total value = 537,785,500,000

Strike 14825 has a total call value of 558,754,700,000 versus a total put value of 917,350,000 Combined total value = 559,672,050,000

Strike 14850 has a total call value of 580,761,300,000 versus a total put value of 797,300,000 Combined total value = 581,558,600,000

Strike 14875 has a total call value of 602,767,900,000 versus a total put value of 677,250,000 Combined total value = 603,445,150,000

Strike 14900 has a total call value of 624,774,500,000 versus a total put value of 557,200,000 Combined total value = 625,331,700,000

Strike 14925 has a total call value of 647,045,350,000 versus a total put value of 437,150,000 Combined total value = 647,482,500,000

Strike 14950 has a total call value of 669,316,200,000 versus a total put value of 317,100,000 Combined total value = 669,633,300,000

Strike 14975 has a total call value of 691,587,050,000 versus a total put value of 197,050,000 Combined total value = 691,784,100,000

Strike 15000 has a total call value of 713,857,900,000 versus a total put value of 77,000,000 Combined total value = 713,934,900,000

Strike 15025 has a total call value of 737,855,300,000 versus a total put value of 73,150,000 Combined total value = 737,928,450,000

Strike 15050 has a total call value of 761,852,700,000 versus a total put value of 69,300,000 Combined total value = 761,922,000,000

Strike 15075 has a total call value of 785,850,100,000 versus a total put value of 65,450,000 Combined total value = 785,915,550,000

Strike 15100 has a total call value of 809,847,500,000 versus a total put value of 61,600,000 Combined total value = 809,909,100,000

Strike 15125 has a total call value of 833,923,300,000 versus a total put value of 57,750,000 Combined total value = 833,981,050,000

Strike 15150 has a total call value of 857,999,100,000 versus a total put value of 53,900,000 Combined total value = 858,053,000,000

Strike 15175 has a total call value of 882,074,900,000 versus a total put value of 50,050,000 Combined total value = 882,124,950,000

Strike 15200 has a total call value of 906,150,700,000 versus a total put value of 46,200,000 Combined total value = 906,196,900,000

Strike 15225 has a total call value of 930,237,000,000 versus a total put value of 42,350,000 Combined total value = 930,279,350,000

Strike 15250 has a total call value of 954,323,300,000 versus a total put value of 38,500,000 Combined total value = 954,361,800,000

Strike 15275 has a total call value of 978,409,600,000 versus a total put value of 34,650,000 Combined total value = 978,444,250,000

Strike 15300 has a total call value of 1,002,495,900,000 versus a total put value of 30,800,000 Combined total value = 1,002,526,700,000

Strike 15325 has a total call value of 1,026,654,650,000 versus a total put value of 26,950,000 Combined total value = 1,026,681,600,000

Strike 15350 has a total call value of 1,050,813,400,000 versus a total put value of 23,100,000 Combined total value = 1,050,836,500,000

Strike 15375 has a total call value of 1,074,972,150,000 versus a total put value of 19,250,000 Combined total value = 1,074,991,400,000

Strike 15400 has a total call value of 1,099,130,900,000 versus a total put value of 15,400,000 Combined total value = 1,099,146,300,000

Strike 15425 has a total call value of 1,123,305,400,000 versus a total put value of 11,550,000 Combined total value = 1,123,316,950,000

Strike 15450 has a total call value of 1,147,479,900,000 versus a total put value of 7,700,000 Combined total value = 1,147,487,600,000

Strike 15475 has a total call value of 1,171,654,400,000 versus a total put value of 3,850,000 Combined total value = 1,171,658,250,000

Strike 15500 has a total call value of 1,195,828,900,000 versus a total put value of 0 Combined total value = 1,195,828,900,000

Strike 15525 has a total call value of 1,220,316,300,000 versus a total put value of 0 Combined total value = 1,220,316,300,000

Strike 15550 has a total call value of 1,244,803,700,000 versus a total put value of 0 Combined total value = 1,244,803,700,000

Strike 15575 has a total call value of 1,269,291,100,000 versus a total put value of 0 Combined total value = 1,269,291,100,000

Strike 15600 has a total call value of 1,293,778,500,000 versus a total put value of 0 Combined total value = 1,293,778,500,000

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	1139.1	1140
ABB	5233.5	5200
ABCAPITAL	348.3	350
ADANIENSOL	991.05	990
ADANIENT	2246.4	2300
ADANIGREEN	1023.3	1020
ADANIPORTS	1495.5	1500
ALKEM	5676	5700
AMBER	6773.5	6800
AMBUJACEM	548.3	555
ANGELONE	2549.5	2600
APLAPOLLO	1729.8	1740
APOLLOHOSP	7056	7200
ASHOKLEY	165.86	160
ASIANPAINT	2796.6	2800
ASTRAL	1459.6	1460
AUBANK	982.3	960
AUROPHARMA	1176	1200
AXISBANK	1227.1	1240
BAJAJ-AUTO	8982	9000
BAJAJFINSV	2033.4	2060
BAJFINANCE	1002.5	1020
BANDHANBNK	149.88	150
BANKBARODA	283.05	290
BANKINDIA	139.95	143
BDL	1350.6	1400
BEL	387	400
BHARATFORG	1412.5	1400
BHARTIARTL	2112	2100
BHEL	279.3	280
BIOCON	384.95	390
BLUESTARCO	1816.7	1780
BOSCHLTD	36125	36500
BPCL	369.4	362.5
BRITANNIA	6066	6000
BSE	2623.7	2700
CAMS	755.5	780
CANBK	147.52	148
CDSL	1506.2	1560
CGPOWER	682.3	680
CHOLAFIN	1718.3	1700
CIPLA	1500.3	1520
COALINDIA	381	384.75
COFORGE	1874.9	1840
COLPAL	2125.8	2180
CONCOR	500.6	520
CROMPTON	252.95	265
CUMMINSIND	4495.1	4500
CYIENT	1142	1160
DABUR	495	505
DALBHARAT	2062.9	2040
DELHIVERY	399.6	410
DIVISLAB	6334	6400
DIXON	13515	13750
DLF	689.4	720
DMART	3859.6	3900
DRREDDY	1270.4	1270
EICHERMOT	7131	7100
ETERNAL	285.9	295
EXIDEIND	365.05	375
FEDERALBNK	261.5	260
FORTIS	876.65	890
GAIL	168.92	175
GLENMARK	1955.4	1940
GMRAIRPORT	103.38	102
GODREJCP	1180.3	1160
GODREJPROP	2019.6	2080
GRASIM	2791.9	2800
HAL	4257.5	4500
HAVELLS	1406.9	1440
HCLTECH	1648.1	1660
HDFCAMC	2590	2620
HDFCBANK	991.5	1000
HDFCLIFE	758.4	770
HEROMOTOCO	5960.5	6050
HFCL	65.33	68
HINDALCO	843.55	820
HINDPETRO	466.6	460
HINDUNILVR	2278.9	2300
HINDZINC	582.65	540
HUDCO	210.84	220
ICICIBANK	1357.6	1380
ICICIGI	1955.1	1980
ICICIPRULI	637.75	630
IDEA	11.3	11
IDFCFIRSTB	83.43	81
IEX	140.12	145
IIFL	566.85	560
INDHOTEL	720.85	740
INDIANB	772.6	820
INDIGO	4984	5000
INDUSINDBK	838.15	850
INDUSTOWER	407.4	410
INFY	1587.7	1600
INOXWIND	126.82	130
IOC	168	166
IRCTC	670.65	690
IREDA	133.32	140
IRFC	111.87	116
ITC	402.2	405
JINDALSTEL	1007.7	1020
JIOFIN	295.4	305
JSWENERGY	478.35	490
JSWSTEEL	1085.3	1130
JUBLFOOD	559.9	580
KALYANKJIL	478.25	480
KAYNES	4244	4400
KEI	4103	4100
KFINTECH	1036.5	1060
KOTAKBANK	2184.3	2160
KPITTECH	1165.7	1200
LAURUSLABS	1006.8	1000
LICHSGFIN	527.3	550
LICI	854.3	880
LODHA	1091.5	1120
LT	4050	4040
LTF	304.35	302.5
LTIM	6222	6150
LUPIN	2122.2	2080
M&M	3631.6	3650
MANAPPURAM	285	280
MANKIND	2110.1	2200
MARICO	735.75	740
MARUTI	16389	16200
MAXHEALTH	1068.5	1100
MAZDOCK	2405.7	2550
MCX	10184	10100
MFSL	1664.2	1700
MOTHERSON	119.1	116
MPHASIS	2871.1	2900
MUTHOOTFIN	3855.3	3750
NATIONALUM	278.2	270
NAUKRI	1344.1	1360
NBCC	111.71	112
NCC	156.9	167.5
NESTLEIND	1237	1240
NHPC	75.02	78
NMDC	76.94	77
NTPC	320.5	325
NUVAMA	7206	7200
NYKAA	246.25	255
OBEROIRLTY	1636.4	1640
OFSS	7786	8000
OIL	399.45	410
ONGC	229.74	240
PAGEIND	36335	37500
PATANJALI	536.95	545
PAYTM	1286	1300
PERSISTENT	6260.5	6200
PETRONET	265.15	277.5
PFC	337.1	355
PGEL	567.1	560
PHOENIXLTD	1788.2	1740
PIDILITIND	1467.6	1480
PIIND	3240.9	3350
PNB	117.32	120
PNBHOUSING	915.6	910
POLICYBZR	1796.3	1840
POLYCAB	7131.5	7300
POWERGRID	260.45	270
POWERINDIA	19365	19500
PPLPHARMA	170.1	180
PRESTIGE	1616.8	1660
RBLBANK	302.5	310
RECLTD	335.65	350
RELIANCE	1543.3	1540
RVNL	310.3	315
SAIL	129.64	133
SAMMAANCAP	147.78	155
SBICARD	846.5	870
SBILIFE	2036.2	2020
SBIN	968.1	965
SHREECEM	26030	26500
SHRIRAMFIN	865.1	850
SIEMENS	3172.1	3200
SOLARINDS	11898	12500
SONACOMS	482.7	500
SRF	3005	2950
SUNPHARMA	1778.9	1800
SUPREMEIND	3394.5	3400
SUZLON	52.6	54
SYNGENE	645.65	650
TATACONSUM	1173.6	1170
TATAELXSI	4991.5	5100
TATAMOTORS	0	320
TATAPOWER	381.1	390
TATASTEEL	170.58	170
TATATECH	649.9	670
TCS	3213.9	3200
TECHM	1573	1540
TIINDIA	2608.9	2700
TITAGARH	785.25	800
TITAN	3922.7	3880
TMPV	346.45	360
TORNTPHARM	3751.9	3800
TORNTPOWER	1281.2	1300
TRENT	4112.6	4200
TVSMOTOR	3641.1	3600
ULTRACEMCO	11543	11700
UNIONBANK	152.9	152.5
UNITDSPR	1454.5	1440
UNOMINDA	1260.9	1280
UPL	752.5	750
VBL	476.15	470
VEDL	576.8	545
VOLTAS	1391.4	1380
WIPRO	258.98	255
YESBANK	21.52	22
ZYDUSLIFE	915.9	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 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