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

13835.65 +90.50 (0.66%)

L: 13727.85 H: 13848.55

Max Pain - MIDCPNIFTY

19 Dec 2025 02:57 PM IST

Live

Expiry

Max Pain for MIDCPNIFTY is 13800

Historical data for MIDCPNIFTY-13800-CE

LTP (13800 CE)

154.15 28.5

Open Interest

4413 -226

Historical data for MIDCPNIFTY-13800-PE

LTP (13800 PE)

100.45 -46.5

Open Interest

3856 1585

Strike 11100 has a total call value of 0 versus a total put value of 2,226,109,900,000 Combined total value = 2,226,109,900,000

Strike 11125 has a total call value of 350,000 versus a total put value of 2,201,745,350,000 Combined total value = 2,201,745,700,000

Strike 11150 has a total call value of 700,000 versus a total put value of 2,177,380,800,000 Combined total value = 2,177,381,500,000

Strike 11175 has a total call value of 1,050,000 versus a total put value of 2,153,016,250,000 Combined total value = 2,153,017,300,000

Strike 11200 has a total call value of 1,400,000 versus a total put value of 2,128,651,700,000 Combined total value = 2,128,653,100,000

Strike 11225 has a total call value of 1,750,000 versus a total put value of 2,104,292,400,000 Combined total value = 2,104,294,150,000

Strike 11250 has a total call value of 2,100,000 versus a total put value of 2,079,933,100,000 Combined total value = 2,079,935,200,000

Strike 11275 has a total call value of 2,450,000 versus a total put value of 2,055,573,800,000 Combined total value = 2,055,576,250,000

Strike 11300 has a total call value of 2,800,000 versus a total put value of 2,031,214,500,000 Combined total value = 2,031,217,300,000

Strike 11325 has a total call value of 3,150,000 versus a total put value of 2,006,865,700,000 Combined total value = 2,006,868,850,000

Strike 11350 has a total call value of 3,500,000 versus a total put value of 1,982,516,900,000 Combined total value = 1,982,520,400,000

Strike 11375 has a total call value of 3,850,000 versus a total put value of 1,958,168,100,000 Combined total value = 1,958,171,950,000

Strike 11400 has a total call value of 4,200,000 versus a total put value of 1,933,819,300,000 Combined total value = 1,933,823,500,000

Strike 11425 has a total call value of 4,550,000 versus a total put value of 1,909,477,150,000 Combined total value = 1,909,481,700,000

Strike 11450 has a total call value of 4,900,000 versus a total put value of 1,885,135,000,000 Combined total value = 1,885,139,900,000

Strike 11475 has a total call value of 5,250,000 versus a total put value of 1,860,792,850,000 Combined total value = 1,860,798,100,000

Strike 11500 has a total call value of 5,600,000 versus a total put value of 1,836,450,700,000 Combined total value = 1,836,456,300,000

Strike 11525 has a total call value of 8,050,000 versus a total put value of 1,812,133,400,000 Combined total value = 1,812,141,450,000

Strike 11550 has a total call value of 10,500,000 versus a total put value of 1,787,816,100,000 Combined total value = 1,787,826,600,000

Strike 11575 has a total call value of 12,950,000 versus a total put value of 1,763,498,800,000 Combined total value = 1,763,511,750,000

Strike 11600 has a total call value of 15,400,000 versus a total put value of 1,739,181,500,000 Combined total value = 1,739,196,900,000

Strike 11625 has a total call value of 17,850,000 versus a total put value of 1,714,868,400,000 Combined total value = 1,714,886,250,000

Strike 11650 has a total call value of 20,300,000 versus a total put value of 1,690,555,300,000 Combined total value = 1,690,575,600,000

Strike 11675 has a total call value of 22,750,000 versus a total put value of 1,666,242,200,000 Combined total value = 1,666,264,950,000

Strike 11700 has a total call value of 25,200,000 versus a total put value of 1,641,929,100,000 Combined total value = 1,641,954,300,000

Strike 11725 has a total call value of 27,650,000 versus a total put value of 1,617,624,050,000 Combined total value = 1,617,651,700,000

Strike 11750 has a total call value of 30,100,000 versus a total put value of 1,593,319,000,000 Combined total value = 1,593,349,100,000

Strike 11775 has a total call value of 32,550,000 versus a total put value of 1,569,013,950,000 Combined total value = 1,569,046,500,000

Strike 11800 has a total call value of 35,000,000 versus a total put value of 1,544,708,900,000 Combined total value = 1,544,743,900,000

Strike 11825 has a total call value of 37,450,000 versus a total put value of 1,520,407,000,000 Combined total value = 1,520,444,450,000

Strike 11850 has a total call value of 39,900,000 versus a total put value of 1,496,105,100,000 Combined total value = 1,496,145,000,000

Strike 11875 has a total call value of 42,350,000 versus a total put value of 1,471,847,650,000 Combined total value = 1,471,890,000,000

Strike 11900 has a total call value of 44,800,000 versus a total put value of 1,447,598,600,000 Combined total value = 1,447,643,400,000

Strike 11925 has a total call value of 47,250,000 versus a total put value of 1,423,364,250,000 Combined total value = 1,423,411,500,000

Strike 11950 has a total call value of 49,700,000 versus a total put value of 1,399,143,550,000 Combined total value = 1,399,193,250,000

Strike 11975 has a total call value of 52,150,000 versus a total put value of 1,374,940,000,000 Combined total value = 1,374,992,150,000

Strike 12000 has a total call value of 54,600,000 versus a total put value of 1,350,749,400,000 Combined total value = 1,350,804,000,000

Strike 12025 has a total call value of 58,800,000 versus a total put value of 1,327,125,800,000 Combined total value = 1,327,184,600,000

Strike 12050 has a total call value of 63,000,000 versus a total put value of 1,303,507,100,000 Combined total value = 1,303,570,100,000

Strike 12075 has a total call value of 67,200,000 versus a total put value of 1,279,893,300,000 Combined total value = 1,279,960,500,000

Strike 12100 has a total call value of 71,400,000 versus a total put value of 1,256,284,750,000 Combined total value = 1,256,356,150,000

Strike 12125 has a total call value of 78,050,000 versus a total put value of 1,232,684,250,000 Combined total value = 1,232,762,300,000

Strike 12150 has a total call value of 84,700,000 versus a total put value of 1,209,088,650,000 Combined total value = 1,209,173,350,000

Strike 12175 has a total call value of 91,350,000 versus a total put value of 1,185,499,700,000 Combined total value = 1,185,591,050,000

Strike 12200 has a total call value of 98,000,000 versus a total put value of 1,161,915,650,000 Combined total value = 1,162,013,650,000

Strike 12225 has a total call value of 104,650,000 versus a total put value of 1,138,341,400,000 Combined total value = 1,138,446,050,000

Strike 12250 has a total call value of 111,300,000 versus a total put value of 1,114,770,650,000 Combined total value = 1,114,881,950,000

Strike 12275 has a total call value of 117,950,000 versus a total put value of 1,091,206,900,000 Combined total value = 1,091,324,850,000

Strike 12300 has a total call value of 124,600,000 versus a total put value of 1,067,647,000,000 Combined total value = 1,067,771,600,000

Strike 12325 has a total call value of 131,250,000 versus a total put value of 1,044,130,500,000 Combined total value = 1,044,261,750,000

Strike 12350 has a total call value of 137,900,000 versus a total put value of 1,020,616,800,000 Combined total value = 1,020,754,700,000

Strike 12375 has a total call value of 144,550,000 versus a total put value of 997,105,550,000 Combined total value = 997,250,100,000

Strike 12400 has a total call value of 151,200,000 versus a total put value of 973,598,150,000 Combined total value = 973,749,350,000

Strike 12425 has a total call value of 157,850,000 versus a total put value of 950,120,150,000 Combined total value = 950,278,000,000

Strike 12450 has a total call value of 164,500,000 versus a total put value of 926,647,050,000 Combined total value = 926,811,550,000

Strike 12475 has a total call value of 171,150,000 versus a total put value of 903,184,450,000 Combined total value = 903,355,600,000

Strike 12500 has a total call value of 177,800,000 versus a total put value of 879,736,200,000 Combined total value = 879,914,000,000

Strike 12525 has a total call value of 245,700,000 versus a total put value of 856,902,550,000 Combined total value = 857,148,250,000

Strike 12550 has a total call value of 313,600,000 versus a total put value of 834,081,150,000 Combined total value = 834,394,750,000

Strike 12575 has a total call value of 381,500,000 versus a total put value of 811,263,950,000 Combined total value = 811,645,450,000

Strike 12600 has a total call value of 449,400,000 versus a total put value of 788,451,300,000 Combined total value = 788,900,700,000

Strike 12625 has a total call value of 517,300,000 versus a total put value of 765,794,750,000 Combined total value = 766,312,050,000

Strike 12650 has a total call value of 585,200,000 versus a total put value of 743,142,750,000 Combined total value = 743,727,950,000

Strike 12675 has a total call value of 653,100,000 versus a total put value of 720,500,200,000 Combined total value = 721,153,300,000

Strike 12700 has a total call value of 721,000,000 versus a total put value of 697,860,800,000 Combined total value = 698,581,800,000

Strike 12725 has a total call value of 788,900,000 versus a total put value of 675,512,250,000 Combined total value = 676,301,150,000

Strike 12750 has a total call value of 856,800,000 versus a total put value of 653,168,250,000 Combined total value = 654,025,050,000

Strike 12775 has a total call value of 924,700,000 versus a total put value of 630,865,550,000 Combined total value = 631,790,250,000

Strike 12800 has a total call value of 992,600,000 versus a total put value of 608,582,100,000 Combined total value = 609,574,700,000

Strike 12825 has a total call value of 1,060,500,000 versus a total put value of 587,000,050,000 Combined total value = 588,060,550,000

Strike 12850 has a total call value of 1,128,400,000 versus a total put value of 565,437,950,000 Combined total value = 566,566,350,000

Strike 12875 has a total call value of 1,196,300,000 versus a total put value of 543,896,150,000 Combined total value = 545,092,450,000

Strike 12900 has a total call value of 1,264,200,000 versus a total put value of 522,359,600,000 Combined total value = 523,623,800,000

Strike 12925 has a total call value of 1,332,450,000 versus a total put value of 501,227,650,000 Combined total value = 502,560,100,000

Strike 12950 has a total call value of 1,400,700,000 versus a total put value of 480,100,250,000 Combined total value = 481,500,950,000

Strike 12975 has a total call value of 1,468,950,000 versus a total put value of 459,159,050,000 Combined total value = 460,628,000,000

Strike 13000 has a total call value of 1,537,200,000 versus a total put value of 438,231,850,000 Combined total value = 439,769,050,000

Strike 13025 has a total call value of 1,687,700,000 versus a total put value of 419,877,150,000 Combined total value = 421,564,850,000

Strike 13050 has a total call value of 1,838,200,000 versus a total put value of 401,538,550,000 Combined total value = 403,376,750,000

Strike 13075 has a total call value of 1,988,700,000 versus a total put value of 383,282,900,000 Combined total value = 385,271,600,000

Strike 13100 has a total call value of 2,139,200,000 versus a total put value of 365,038,100,000 Combined total value = 367,177,300,000

Strike 13125 has a total call value of 2,289,700,000 versus a total put value of 348,066,950,000 Combined total value = 350,356,650,000

Strike 13150 has a total call value of 2,440,200,000 versus a total put value of 331,121,000,000 Combined total value = 333,561,200,000

Strike 13175 has a total call value of 2,590,700,000 versus a total put value of 314,336,400,000 Combined total value = 316,927,100,000

Strike 13200 has a total call value of 2,742,250,000 versus a total put value of 297,589,600,000 Combined total value = 300,331,850,000

Strike 13225 has a total call value of 2,900,450,000 versus a total put value of 282,234,050,000 Combined total value = 285,134,500,000

Strike 13250 has a total call value of 3,062,150,000 versus a total put value of 266,922,250,000 Combined total value = 269,984,400,000

Strike 13275 has a total call value of 3,227,350,000 versus a total put value of 251,948,200,000 Combined total value = 255,175,550,000

Strike 13300 has a total call value of 3,393,250,000 versus a total put value of 237,032,950,000 Combined total value = 240,426,200,000

Strike 13325 has a total call value of 3,571,050,000 versus a total put value of 223,001,800,000 Combined total value = 226,572,850,000

Strike 13350 has a total call value of 3,749,900,000 versus a total put value of 209,014,400,000 Combined total value = 212,764,300,000

Strike 13375 has a total call value of 3,929,450,000 versus a total put value of 195,172,250,000 Combined total value = 199,101,700,000

Strike 13400 has a total call value of 4,109,000,000 versus a total put value of 181,384,700,000 Combined total value = 185,493,700,000

Strike 13425 has a total call value of 4,313,750,000 versus a total put value of 168,763,000,000 Combined total value = 173,076,750,000

Strike 13450 has a total call value of 4,519,900,000 versus a total put value of 156,171,750,000 Combined total value = 160,691,650,000

Strike 13475 has a total call value of 4,729,900,000 versus a total put value of 143,746,400,000 Combined total value = 148,476,300,000

Strike 13500 has a total call value of 4,940,250,000 versus a total put value of 131,363,750,000 Combined total value = 136,304,000,000

Strike 13525 has a total call value of 5,589,850,000 versus a total put value of 121,396,100,000 Combined total value = 126,985,950,000

Strike 13550 has a total call value of 6,249,950,000 versus a total put value of 111,501,250,000 Combined total value = 117,751,200,000

Strike 13575 has a total call value of 6,957,650,000 versus a total put value of 101,828,650,000 Combined total value = 108,786,300,000

Strike 13600 has a total call value of 7,687,400,000 versus a total put value of 92,237,600,000 Combined total value = 99,925,000,000

Strike 13625 has a total call value of 8,835,750,000 versus a total put value of 84,407,050,000 Combined total value = 93,242,800,000

Strike 13650 has a total call value of 10,009,300,000 versus a total put value of 76,703,200,000 Combined total value = 86,712,500,000

Strike 13675 has a total call value of 11,404,050,000 versus a total put value of 69,302,800,000 Combined total value = 80,706,850,000

Strike 13700 has a total call value of 12,864,250,000 versus a total put value of 62,000,400,000 Combined total value = 74,864,650,000

Strike 13725 has a total call value of 15,130,500,000 versus a total put value of 56,015,400,000 Combined total value = 71,145,900,000

Strike 13750 has a total call value of 17,471,300,000 versus a total put value of 50,148,350,000 Combined total value = 67,619,650,000

Strike 13775 has a total call value of 20,063,400,000 versus a total put value of 44,708,300,000 Combined total value = 64,771,700,000

Strike 13800 has a total call value of 22,753,150,000 versus a total put value of 39,421,900,000 Combined total value = 62,175,050,000

Strike 13825 has a total call value of 26,987,450,000 versus a total put value of 35,485,100,000 Combined total value = 62,472,550,000

Strike 13850 has a total call value of 31,371,900,000 versus a total put value of 31,687,250,000 Combined total value = 63,059,150,000

Strike 13875 has a total call value of 36,055,600,000 versus a total put value of 28,101,150,000 Combined total value = 64,156,750,000

Strike 13900 has a total call value of 40,847,450,000 versus a total put value of 24,584,700,000 Combined total value = 65,432,150,000

Strike 13925 has a total call value of 46,684,400,000 versus a total put value of 21,695,100,000 Combined total value = 68,379,500,000

Strike 13950 has a total call value of 52,642,800,000 versus a total put value of 18,835,600,000 Combined total value = 71,478,400,000

Strike 13975 has a total call value of 58,830,450,000 versus a total put value of 16,056,250,000 Combined total value = 74,886,700,000

Strike 14000 has a total call value of 65,111,900,000 versus a total put value of 13,313,300,000 Combined total value = 78,425,200,000

Strike 14025 has a total call value of 74,173,750,000 versus a total put value of 11,786,250,000 Combined total value = 85,960,000,000

Strike 14050 has a total call value of 83,334,650,000 versus a total put value of 10,294,200,000 Combined total value = 93,628,850,000

Strike 14075 has a total call value of 92,851,850,000 versus a total put value of 8,871,800,000 Combined total value = 101,723,650,000

Strike 14100 has a total call value of 102,474,050,000 versus a total put value of 7,485,800,000 Combined total value = 109,959,850,000

Strike 14125 has a total call value of 113,780,450,000 versus a total put value of 6,901,300,000 Combined total value = 120,681,750,000

Strike 14150 has a total call value of 125,162,450,000 versus a total put value of 6,349,700,000 Combined total value = 131,512,150,000

Strike 14175 has a total call value of 136,756,900,000 versus a total put value of 5,862,500,000 Combined total value = 142,619,400,000

Strike 14200 has a total call value of 148,409,450,000 versus a total put value of 5,390,700,000 Combined total value = 153,800,150,000

Strike 14225 has a total call value of 161,880,600,000 versus a total put value of 5,037,200,000 Combined total value = 166,917,800,000

Strike 14250 has a total call value of 175,382,900,000 versus a total put value of 4,692,100,000 Combined total value = 180,075,000,000

Strike 14275 has a total call value of 189,304,850,000 versus a total put value of 4,367,300,000 Combined total value = 193,672,150,000

Strike 14300 has a total call value of 203,276,150,000 versus a total put value of 4,055,100,000 Combined total value = 207,331,250,000

Strike 14325 has a total call value of 218,889,300,000 versus a total put value of 3,845,450,000 Combined total value = 222,734,750,000

Strike 14350 has a total call value of 234,530,100,000 versus a total put value of 3,635,800,000 Combined total value = 238,165,900,000

Strike 14375 has a total call value of 250,332,950,000 versus a total put value of 3,426,150,000 Combined total value = 253,759,100,000

Strike 14400 has a total call value of 266,167,300,000 versus a total put value of 3,216,500,000 Combined total value = 269,383,800,000

Strike 14425 has a total call value of 283,248,350,000 versus a total put value of 3,034,500,000 Combined total value = 286,282,850,000

Strike 14450 has a total call value of 300,355,300,000 versus a total put value of 2,852,500,000 Combined total value = 303,207,800,000

Strike 14475 has a total call value of 317,602,600,000 versus a total put value of 2,670,850,000 Combined total value = 320,273,450,000

Strike 14500 has a total call value of 334,865,650,000 versus a total put value of 2,489,200,000 Combined total value = 337,354,850,000

Strike 14525 has a total call value of 354,792,200,000 versus a total put value of 2,368,450,000 Combined total value = 357,160,650,000

Strike 14550 has a total call value of 374,730,650,000 versus a total put value of 2,247,700,000 Combined total value = 376,978,350,000

Strike 14575 has a total call value of 394,755,200,000 versus a total put value of 2,126,950,000 Combined total value = 396,882,150,000

Strike 14600 has a total call value of 414,791,650,000 versus a total put value of 2,006,200,000 Combined total value = 416,797,850,000

Strike 14625 has a total call value of 435,561,350,000 versus a total put value of 1,885,450,000 Combined total value = 437,446,800,000

Strike 14650 has a total call value of 456,335,950,000 versus a total put value of 1,764,700,000 Combined total value = 458,100,650,000

Strike 14675 has a total call value of 477,184,750,000 versus a total put value of 1,643,950,000 Combined total value = 478,828,700,000

Strike 14700 has a total call value of 498,041,950,000 versus a total put value of 1,523,200,000 Combined total value = 499,565,150,000

Strike 14725 has a total call value of 519,764,700,000 versus a total put value of 1,402,450,000 Combined total value = 521,167,150,000

Strike 14750 has a total call value of 541,495,500,000 versus a total put value of 1,281,700,000 Combined total value = 542,777,200,000

Strike 14775 has a total call value of 563,232,950,000 versus a total put value of 1,160,950,000 Combined total value = 564,393,900,000

Strike 14800 has a total call value of 584,970,400,000 versus a total put value of 1,040,200,000 Combined total value = 586,010,600,000

Strike 14825 has a total call value of 607,555,900,000 versus a total put value of 919,800,000 Combined total value = 608,475,700,000

Strike 14850 has a total call value of 630,142,800,000 versus a total put value of 799,400,000 Combined total value = 630,942,200,000

Strike 14875 has a total call value of 652,729,700,000 versus a total put value of 679,000,000 Combined total value = 653,408,700,000

Strike 14900 has a total call value of 675,316,600,000 versus a total put value of 558,600,000 Combined total value = 675,875,200,000

Strike 14925 has a total call value of 698,124,700,000 versus a total put value of 438,200,000 Combined total value = 698,562,900,000

Strike 14950 has a total call value of 720,932,800,000 versus a total put value of 317,800,000 Combined total value = 721,250,600,000

Strike 14975 has a total call value of 743,740,900,000 versus a total put value of 197,400,000 Combined total value = 743,938,300,000

Strike 15000 has a total call value of 766,549,000,000 versus a total put value of 77,000,000 Combined total value = 766,626,000,000

Strike 15025 has a total call value of 791,058,450,000 versus a total put value of 73,150,000 Combined total value = 791,131,600,000

Strike 15050 has a total call value of 815,567,900,000 versus a total put value of 69,300,000 Combined total value = 815,637,200,000

Strike 15075 has a total call value of 840,077,350,000 versus a total put value of 65,450,000 Combined total value = 840,142,800,000

Strike 15100 has a total call value of 864,586,800,000 versus a total put value of 61,600,000 Combined total value = 864,648,400,000

Strike 15125 has a total call value of 889,136,850,000 versus a total put value of 57,750,000 Combined total value = 889,194,600,000

Strike 15150 has a total call value of 913,686,900,000 versus a total put value of 53,900,000 Combined total value = 913,740,800,000

Strike 15175 has a total call value of 938,236,950,000 versus a total put value of 50,050,000 Combined total value = 938,287,000,000

Strike 15200 has a total call value of 962,787,000,000 versus a total put value of 46,200,000 Combined total value = 962,833,200,000

Strike 15225 has a total call value of 987,351,050,000 versus a total put value of 42,350,000 Combined total value = 987,393,400,000

Strike 15250 has a total call value of 1,011,915,100,000 versus a total put value of 38,500,000 Combined total value = 1,011,953,600,000

Strike 15275 has a total call value of 1,036,479,150,000 versus a total put value of 34,650,000 Combined total value = 1,036,513,800,000

Strike 15300 has a total call value of 1,061,043,200,000 versus a total put value of 30,800,000 Combined total value = 1,061,074,000,000

Strike 15325 has a total call value of 1,085,653,800,000 versus a total put value of 26,950,000 Combined total value = 1,085,680,750,000

Strike 15350 has a total call value of 1,110,264,400,000 versus a total put value of 23,100,000 Combined total value = 1,110,287,500,000

Strike 15375 has a total call value of 1,134,875,000,000 versus a total put value of 19,250,000 Combined total value = 1,134,894,250,000

Strike 15400 has a total call value of 1,159,485,600,000 versus a total put value of 15,400,000 Combined total value = 1,159,501,000,000

Strike 15425 has a total call value of 1,184,110,200,000 versus a total put value of 11,550,000 Combined total value = 1,184,121,750,000

Strike 15450 has a total call value of 1,208,734,800,000 versus a total put value of 7,700,000 Combined total value = 1,208,742,500,000

Strike 15475 has a total call value of 1,233,359,400,000 versus a total put value of 3,850,000 Combined total value = 1,233,363,250,000

Strike 15500 has a total call value of 1,257,984,000,000 versus a total put value of 0 Combined total value = 1,257,984,000,000

Strike 15525 has a total call value of 1,282,929,200,000 versus a total put value of 0 Combined total value = 1,282,929,200,000

Strike 15550 has a total call value of 1,307,874,400,000 versus a total put value of 0 Combined total value = 1,307,874,400,000

Strike 15575 has a total call value of 1,332,819,600,000 versus a total put value of 0 Combined total value = 1,332,819,600,000

Strike 15600 has a total call value of 1,357,764,800,000 versus a total put value of 0 Combined total value = 1,357,764,800,000

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	1137.8	1140
ABB	5155.5	5200
ABCAPITAL	348.2	345
ADANIENSOL	987.95	980
ADANIENT	2235	2300
ADANIGREEN	1023.7	1020
ADANIPORTS	1495.4	1500
ALKEM	5555	5650
AMBER	6662.5	6700
AMBUJACEM	539.85	550
ANGELONE	2517	2550
APLAPOLLO	1817.2	1780
APOLLOHOSP	6999.5	7100
ASHOKLEY	173.72	164
ASIANPAINT	2787.8	2800
ASTRAL	1420.6	1440
AUBANK	984.8	960
AUROPHARMA	1220.8	1220
AXISBANK	1230.4	1240
BAJAJ-AUTO	8981.5	9000
BAJAJFINSV	2040.7	2060
BAJFINANCE	1005.8	1020
BANDHANBNK	149.73	150
BANKBARODA	291.75	290
BANKINDIA	142.94	143
BDL	1365.2	1400
BEL	392	400
BHARATFORG	1436.7	1400
BHARTIARTL	2094.2	2100
BHEL	276.5	280
BIOCON	397.3	395
BLUESTARCO	1777.7	1780
BOSCHLTD	35675	36000
BPCL	363.75	365
BRITANNIA	6104.5	6000
BSE	2688.7	2700
CAMS	756.4	770
CANBK	148.14	150
CDSL	1497.3	1560
CGPOWER	672.7	680
CHOLAFIN	1645	1700
CIPLA	1512.1	1520
COALINDIA	385.25	385
COFORGE	1843.6	1840
COLPAL	2103.6	2160
CONCOR	499.7	520
CROMPTON	254.85	265
CUMMINSIND	4378.8	4400
CYIENT	1157.5	1140
DABUR	494.55	500
DALBHARAT	2017.7	2020
DELHIVERY	405.7	410
DIVISLAB	6455.5	6450
DIXON	13180	13500
DLF	688.05	710
DMART	3817.5	3900
DRREDDY	1272.9	1270
EICHERMOT	7205.5	7150
ETERNAL	286.65	295
EXIDEIND	363	370
FEDERALBNK	267.95	260
FORTIS	893.35	890
GAIL	169.26	175
GLENMARK	1983	1940
GMRAIRPORT	101.11	102
GODREJCP	1184.9	1160
GODREJPROP	2036.3	2080
GRASIM	2813.1	2800
HAL	4305.7	4500
HAVELLS	1414.6	1440
HCLTECH	1642.3	1660
HDFCAMC	2671.2	2660
HDFCBANK	987.3	995
HDFCLIFE	763.45	770
HEROMOTOCO	5759	5850
HFCL	63.82	67
HINDALCO	851.6	820
HINDPETRO	467.95	460
HINDUNILVR	2277	2300
HINDZINC	588.05	560
HUDCO	209.71	220
ICICIBANK	1355.1	1370
ICICIGI	1949.4	1960
ICICIPRULI	649.65	630
IDEA	11.94	11
IDFCFIRSTB	84.55	82
IEX	141.57	145
IIFL	559.85	560
INDHOTEL	732.1	730
INDIANB	780.25	810
INDIGO	5146.5	5100
INDUSINDBK	843.4	850
INDUSTOWER	413.9	410
INFY	1632.5	1600
INOXWIND	125.84	130
IOC	161.85	161
IRCTC	671.45	690
IREDA	132.75	140
IRFC	112.76	116
ITC	401.3	405
JINDALSTEL	986.6	1020
JIOFIN	296.75	305
JSWENERGY	476.95	490
JSWSTEEL	1078.1	1120
JUBLFOOD	564.1	580
KALYANKJIL	481	480
KAYNES	4163.5	4300
KEI	4247.9	4100
KFINTECH	1072.2	1080
KOTAKBANK	2162.8	2160
KPITTECH	1224.8	1220
LAURUSLABS	1044	1010
LICHSGFIN	532.1	550
LICI	848.15	870
LODHA	1086.6	1120
LT	4075.8	4040
LTF	299.6	300
LTIM	6188	6100
LUPIN	2123.4	2100
M&M	3608.9	3650
MANAPPURAM	290.45	282.5
MANKIND	2164.9	2200
MARICO	742	740
MARUTI	16450	16300
MAXHEALTH	1079.9	1100
MAZDOCK	2407	2500
MCX	10306	10100
MFSL	1691.2	1680
MOTHERSON	120.72	117
MPHASIS	2889	2900
MUTHOOTFIN	3769.5	3750
NATIONALUM	277.7	272.5
NAUKRI	1340	1360
NBCC	112.77	112
NCC	155.17	165
NESTLEIND	1241.6	1240
NHPC	76.45	78
NMDC	76.09	77
NTPC	318.75	325
NUVAMA	7156	7200
NYKAA	248.4	252.5
OBEROIRLTY	1670.4	1660
OFSS	7776.5	8000
OIL	407.2	410
ONGC	232.5	237.5
PAGEIND	35795	37000
PATANJALI	558.95	550
PAYTM	1323.5	1300
PERSISTENT	6352.5	6300
PETRONET	273.65	280
PFC	337.35	355
PGEL	580.75	560
PHOENIXLTD	1830.5	1760
PIDILITIND	1454.4	1480
PIIND	3231.1	3350
PNB	119.56	120
PNBHOUSING	918.95	900
POLICYBZR	1888.6	1860
POLYCAB	7414	7300
POWERGRID	262.95	270
POWERINDIA	18485	18500
PPLPHARMA	170.72	175
PRESTIGE	1617.5	1640
RBLBANK	300.3	305
RECLTD	338.2	350
RELIANCE	1566.5	1550
RVNL	314.8	315
SAIL	125.28	130
SAMMAANCAP	144.95	155
SBICARD	865.25	870
SBILIFE	2029.9	2020
SBIN	978.35	970
SHREECEM	25625	26000
SHRIRAMFIN	901.15	880
SIEMENS	3108	3200
SOLARINDS	11885	12500
SONACOMS	497.75	500
SRF	3088.6	3000
SUNPHARMA	1746	1760
SUPREMEIND	3372.2	3400
SUZLON	52.25	54
SYNGENE	651.8	650
TATACONSUM	1183.5	1180
TATAELXSI	5424	5300
TATAMOTORS	0	320
TATAPOWER	379.4	390
TATASTEEL	168.38	170
TATATECH	653.55	670
TCS	3292.4	3240
TECHM	1612.2	1560
TIINDIA	2626.9	2700
TITAGARH	781.35	800
TITAN	3933.2	3880
TMPV	351.6	360
TORNTPHARM	3790.2	3750
TORNTPOWER	1279.1	1300
TRENT	4059	4200
TVSMOTOR	3665.5	3600
ULTRACEMCO	11505	11600
UNIONBANK	153.8	155
UNITDSPR	1410	1430
UNOMINDA	1260.9	1280
UPL	748.7	750
VBL	469.35	470
VEDL	577.6	555
VOLTAS	1377.1	1380
WIPRO	264.23	260
YESBANK	21.65	22
ZYDUSLIFE	917.75	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