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

13764.7 -233.80 (-1.67%)

L: 13707.2 H: 14052.85

Max Pain - MIDCPNIFTY

08 Dec 2025 04:12 PM IST Market Closed

Expiry

Max Pain for MIDCPNIFTY is 14000

Historical data for MIDCPNIFTY-14000-CE

LTP (14000 CE)

107.6 -122.2

Open Interest

8529 2125

Historical data for MIDCPNIFTY-14000-PE

LTP (14000 PE)

324 149.7

Open Interest

6665 -177

Strike 11100 has a total call value of 0 versus a total put value of 1,615,196,800,000 Combined total value = 1,615,196,800,000

Strike 11125 has a total call value of 350,000 versus a total put value of 1,598,262,750,000 Combined total value = 1,598,263,100,000

Strike 11150 has a total call value of 700,000 versus a total put value of 1,581,328,700,000 Combined total value = 1,581,329,400,000

Strike 11175 has a total call value of 1,050,000 versus a total put value of 1,564,394,650,000 Combined total value = 1,564,395,700,000

Strike 11200 has a total call value of 1,400,000 versus a total put value of 1,547,460,600,000 Combined total value = 1,547,462,000,000

Strike 11225 has a total call value of 1,750,000 versus a total put value of 1,530,531,450,000 Combined total value = 1,530,533,200,000

Strike 11250 has a total call value of 2,100,000 versus a total put value of 1,513,602,300,000 Combined total value = 1,513,604,400,000

Strike 11275 has a total call value of 2,450,000 versus a total put value of 1,496,673,150,000 Combined total value = 1,496,675,600,000

Strike 11300 has a total call value of 2,800,000 versus a total put value of 1,479,744,000,000 Combined total value = 1,479,746,800,000

Strike 11325 has a total call value of 3,150,000 versus a total put value of 1,462,819,750,000 Combined total value = 1,462,822,900,000

Strike 11350 has a total call value of 3,500,000 versus a total put value of 1,445,895,500,000 Combined total value = 1,445,899,000,000

Strike 11375 has a total call value of 3,850,000 versus a total put value of 1,428,971,250,000 Combined total value = 1,428,975,100,000

Strike 11400 has a total call value of 4,200,000 versus a total put value of 1,412,047,000,000 Combined total value = 1,412,051,200,000

Strike 11425 has a total call value of 4,550,000 versus a total put value of 1,395,126,950,000 Combined total value = 1,395,131,500,000

Strike 11450 has a total call value of 4,900,000 versus a total put value of 1,378,206,900,000 Combined total value = 1,378,211,800,000

Strike 11475 has a total call value of 5,250,000 versus a total put value of 1,361,286,850,000 Combined total value = 1,361,292,100,000

Strike 11500 has a total call value of 5,600,000 versus a total put value of 1,344,366,800,000 Combined total value = 1,344,372,400,000

Strike 11525 has a total call value of 8,050,000 versus a total put value of 1,327,454,100,000 Combined total value = 1,327,462,150,000

Strike 11550 has a total call value of 10,500,000 versus a total put value of 1,310,541,400,000 Combined total value = 1,310,551,900,000

Strike 11575 has a total call value of 12,950,000 versus a total put value of 1,293,628,700,000 Combined total value = 1,293,641,650,000

Strike 11600 has a total call value of 15,400,000 versus a total put value of 1,276,716,000,000 Combined total value = 1,276,731,400,000

Strike 11625 has a total call value of 17,850,000 versus a total put value of 1,259,807,850,000 Combined total value = 1,259,825,700,000

Strike 11650 has a total call value of 20,300,000 versus a total put value of 1,242,899,700,000 Combined total value = 1,242,920,000,000

Strike 11675 has a total call value of 22,750,000 versus a total put value of 1,225,991,550,000 Combined total value = 1,226,014,300,000

Strike 11700 has a total call value of 25,200,000 versus a total put value of 1,209,083,400,000 Combined total value = 1,209,108,600,000

Strike 11725 has a total call value of 27,650,000 versus a total put value of 1,192,179,450,000 Combined total value = 1,192,207,100,000

Strike 11750 has a total call value of 30,100,000 versus a total put value of 1,175,275,500,000 Combined total value = 1,175,305,600,000

Strike 11775 has a total call value of 32,550,000 versus a total put value of 1,158,371,550,000 Combined total value = 1,158,404,100,000

Strike 11800 has a total call value of 35,000,000 versus a total put value of 1,141,467,600,000 Combined total value = 1,141,502,600,000

Strike 11825 has a total call value of 37,450,000 versus a total put value of 1,124,565,050,000 Combined total value = 1,124,602,500,000

Strike 11850 has a total call value of 39,900,000 versus a total put value of 1,107,662,500,000 Combined total value = 1,107,702,400,000

Strike 11875 has a total call value of 42,350,000 versus a total put value of 1,090,759,950,000 Combined total value = 1,090,802,300,000

Strike 11900 has a total call value of 44,800,000 versus a total put value of 1,073,859,500,000 Combined total value = 1,073,904,300,000

Strike 11925 has a total call value of 47,250,000 versus a total put value of 1,056,962,200,000 Combined total value = 1,057,009,450,000

Strike 11950 has a total call value of 49,700,000 versus a total put value of 1,040,064,900,000 Combined total value = 1,040,114,600,000

Strike 11975 has a total call value of 52,150,000 versus a total put value of 1,023,167,600,000 Combined total value = 1,023,219,750,000

Strike 12000 has a total call value of 54,600,000 versus a total put value of 1,006,270,300,000 Combined total value = 1,006,324,900,000

Strike 12025 has a total call value of 59,500,000 versus a total put value of 989,786,000,000 Combined total value = 989,845,500,000

Strike 12050 has a total call value of 64,400,000 versus a total put value of 973,305,900,000 Combined total value = 973,370,300,000

Strike 12075 has a total call value of 69,300,000 versus a total put value of 956,830,000,000 Combined total value = 956,899,300,000

Strike 12100 has a total call value of 74,200,000 versus a total put value of 940,358,650,000 Combined total value = 940,432,850,000

Strike 12125 has a total call value of 81,900,000 versus a total put value of 923,894,650,000 Combined total value = 923,976,550,000

Strike 12150 has a total call value of 89,600,000 versus a total put value of 907,435,550,000 Combined total value = 907,525,150,000

Strike 12175 has a total call value of 97,300,000 versus a total put value of 890,980,650,000 Combined total value = 891,077,950,000

Strike 12200 has a total call value of 105,000,000 versus a total put value of 874,533,800,000 Combined total value = 874,638,800,000

Strike 12225 has a total call value of 112,700,000 versus a total put value of 858,092,900,000 Combined total value = 858,205,600,000

Strike 12250 has a total call value of 120,400,000 versus a total put value of 841,654,100,000 Combined total value = 841,774,500,000

Strike 12275 has a total call value of 128,100,000 versus a total put value of 825,219,150,000 Combined total value = 825,347,250,000

Strike 12300 has a total call value of 135,800,000 versus a total put value of 808,789,800,000 Combined total value = 808,925,600,000

Strike 12325 has a total call value of 143,500,000 versus a total put value of 792,366,050,000 Combined total value = 792,509,550,000

Strike 12350 has a total call value of 151,200,000 versus a total put value of 775,945,100,000 Combined total value = 776,096,300,000

Strike 12375 has a total call value of 158,900,000 versus a total put value of 759,526,950,000 Combined total value = 759,685,850,000

Strike 12400 has a total call value of 166,600,000 versus a total put value of 743,111,600,000 Combined total value = 743,278,200,000

Strike 12425 has a total call value of 174,300,000 versus a total put value of 726,702,550,000 Combined total value = 726,876,850,000

Strike 12450 has a total call value of 182,000,000 versus a total put value of 710,299,100,000 Combined total value = 710,481,100,000

Strike 12475 has a total call value of 189,700,000 versus a total put value of 693,900,200,000 Combined total value = 694,089,900,000

Strike 12500 has a total call value of 197,400,000 versus a total put value of 677,505,500,000 Combined total value = 677,702,900,000

Strike 12525 has a total call value of 265,650,000 versus a total put value of 661,544,100,000 Combined total value = 661,809,750,000

Strike 12550 has a total call value of 333,900,000 versus a total put value of 645,587,600,000 Combined total value = 645,921,500,000

Strike 12575 has a total call value of 402,150,000 versus a total put value of 629,636,000,000 Combined total value = 630,038,150,000

Strike 12600 has a total call value of 470,400,000 versus a total put value of 613,688,950,000 Combined total value = 614,159,350,000

Strike 12625 has a total call value of 538,650,000 versus a total put value of 597,790,550,000 Combined total value = 598,329,200,000

Strike 12650 has a total call value of 606,900,000 versus a total put value of 581,897,050,000 Combined total value = 582,503,950,000

Strike 12675 has a total call value of 675,150,000 versus a total put value of 566,008,800,000 Combined total value = 566,683,950,000

Strike 12700 has a total call value of 743,400,000 versus a total put value of 550,126,150,000 Combined total value = 550,869,550,000

Strike 12725 has a total call value of 811,650,000 versus a total put value of 534,385,600,000 Combined total value = 535,197,250,000

Strike 12750 has a total call value of 879,900,000 versus a total put value of 518,654,500,000 Combined total value = 519,534,400,000

Strike 12775 has a total call value of 948,150,000 versus a total put value of 502,952,800,000 Combined total value = 503,900,950,000

Strike 12800 has a total call value of 1,016,400,000 versus a total put value of 487,260,550,000 Combined total value = 488,276,950,000

Strike 12825 has a total call value of 1,084,650,000 versus a total put value of 471,969,050,000 Combined total value = 473,053,700,000

Strike 12850 has a total call value of 1,152,900,000 versus a total put value of 456,691,200,000 Combined total value = 457,844,100,000

Strike 12875 has a total call value of 1,221,150,000 versus a total put value of 441,438,550,000 Combined total value = 442,659,700,000

Strike 12900 has a total call value of 1,289,400,000 versus a total put value of 426,195,350,000 Combined total value = 427,484,750,000

Strike 12925 has a total call value of 1,358,000,000 versus a total put value of 411,080,250,000 Combined total value = 412,438,250,000

Strike 12950 has a total call value of 1,426,600,000 versus a total put value of 395,974,600,000 Combined total value = 397,401,200,000

Strike 12975 has a total call value of 1,495,200,000 versus a total put value of 380,879,100,000 Combined total value = 382,374,300,000

Strike 13000 has a total call value of 1,563,800,000 versus a total put value of 365,802,150,000 Combined total value = 367,365,950,000

Strike 13025 has a total call value of 1,708,350,000 versus a total put value of 352,348,850,000 Combined total value = 354,057,200,000

Strike 13050 has a total call value of 1,852,900,000 versus a total put value of 338,909,200,000 Combined total value = 340,762,100,000

Strike 13075 has a total call value of 1,997,450,000 versus a total put value of 325,479,000,000 Combined total value = 327,476,450,000

Strike 13100 has a total call value of 2,142,000,000 versus a total put value of 312,053,000,000 Combined total value = 314,195,000,000

Strike 13125 has a total call value of 2,286,550,000 versus a total put value of 299,852,350,000 Combined total value = 302,138,900,000

Strike 13150 has a total call value of 2,431,100,000 versus a total put value of 287,665,000,000 Combined total value = 290,096,100,000

Strike 13175 has a total call value of 2,575,650,000 versus a total put value of 275,487,800,000 Combined total value = 278,063,450,000

Strike 13200 has a total call value of 2,720,200,000 versus a total put value of 263,317,250,000 Combined total value = 266,037,450,000

Strike 13225 has a total call value of 2,864,750,000 versus a total put value of 252,040,250,000 Combined total value = 254,905,000,000

Strike 13250 has a total call value of 3,009,300,000 versus a total put value of 240,790,550,000 Combined total value = 243,799,850,000

Strike 13275 has a total call value of 3,159,100,000 versus a total put value of 229,552,050,000 Combined total value = 232,711,150,000

Strike 13300 has a total call value of 3,308,900,000 versus a total put value of 218,344,350,000 Combined total value = 221,653,250,000

Strike 13325 has a total call value of 3,460,100,000 versus a total put value of 208,030,900,000 Combined total value = 211,491,000,000

Strike 13350 has a total call value of 3,611,300,000 versus a total put value of 197,731,450,000 Combined total value = 201,342,750,000

Strike 13375 has a total call value of 3,762,850,000 versus a total put value of 187,453,000,000 Combined total value = 191,215,850,000

Strike 13400 has a total call value of 3,914,400,000 versus a total put value of 177,202,900,000 Combined total value = 181,117,300,000

Strike 13425 has a total call value of 4,067,350,000 versus a total put value of 167,681,150,000 Combined total value = 171,748,500,000

Strike 13450 has a total call value of 4,220,300,000 versus a total put value of 158,159,400,000 Combined total value = 162,379,700,000

Strike 13475 has a total call value of 4,373,250,000 versus a total put value of 148,637,650,000 Combined total value = 153,010,900,000

Strike 13500 has a total call value of 4,526,200,000 versus a total put value of 139,134,100,000 Combined total value = 143,660,300,000

Strike 13525 has a total call value of 4,905,950,000 versus a total put value of 130,983,650,000 Combined total value = 135,889,600,000

Strike 13550 has a total call value of 5,290,250,000 versus a total put value of 122,858,400,000 Combined total value = 128,148,650,000

Strike 13575 has a total call value of 5,674,550,000 versus a total put value of 114,766,400,000 Combined total value = 120,440,950,000

Strike 13600 has a total call value of 6,058,850,000 versus a total put value of 106,689,100,000 Combined total value = 112,747,950,000

Strike 13625 has a total call value of 6,473,250,000 versus a total put value of 99,396,850,000 Combined total value = 105,870,100,000

Strike 13650 has a total call value of 6,887,650,000 versus a total put value of 92,147,300,000 Combined total value = 99,034,950,000

Strike 13675 has a total call value of 7,307,300,000 versus a total put value of 84,945,700,000 Combined total value = 92,253,000,000

Strike 13700 has a total call value of 7,728,700,000 versus a total put value of 77,878,850,000 Combined total value = 85,607,550,000

Strike 13725 has a total call value of 8,365,350,000 versus a total put value of 71,571,500,000 Combined total value = 79,936,850,000

Strike 13750 has a total call value of 9,032,800,000 versus a total put value of 65,291,100,000 Combined total value = 74,323,900,000

Strike 13775 has a total call value of 9,846,550,000 versus a total put value of 59,104,850,000 Combined total value = 68,951,400,000

Strike 13800 has a total call value of 10,706,150,000 versus a total put value of 52,959,550,000 Combined total value = 63,665,700,000

Strike 13825 has a total call value of 12,295,850,000 versus a total put value of 47,818,400,000 Combined total value = 60,114,250,000

Strike 13850 has a total call value of 13,933,850,000 versus a total put value of 42,731,500,000 Combined total value = 56,665,350,000

Strike 13875 has a total call value of 15,682,450,000 versus a total put value of 37,751,000,000 Combined total value = 53,433,450,000

Strike 13900 has a total call value of 17,490,200,000 versus a total put value of 32,808,300,000 Combined total value = 50,298,500,000

Strike 13925 has a total call value of 20,014,050,000 versus a total put value of 28,380,100,000 Combined total value = 48,394,150,000

Strike 13950 has a total call value of 22,615,950,000 versus a total put value of 24,017,000,000 Combined total value = 46,632,950,000

Strike 13975 has a total call value of 25,451,650,000 versus a total put value of 19,765,900,000 Combined total value = 45,217,550,000

Strike 14000 has a total call value of 28,396,550,000 versus a total put value of 15,577,450,000 Combined total value = 43,974,000,000

Strike 14025 has a total call value of 34,326,600,000 versus a total put value of 13,721,750,000 Combined total value = 48,048,350,000

Strike 14050 has a total call value of 40,363,750,000 versus a total put value of 11,926,250,000 Combined total value = 52,290,000,000

Strike 14075 has a total call value of 46,749,150,000 versus a total put value of 10,244,850,000 Combined total value = 56,994,000,000

Strike 14100 has a total call value of 53,217,850,000 versus a total put value of 8,624,350,000 Combined total value = 61,842,200,000

Strike 14125 has a total call value of 61,583,550,000 versus a total put value of 7,890,750,000 Combined total value = 69,474,300,000

Strike 14150 has a total call value of 70,019,950,000 versus a total put value of 7,192,150,000 Combined total value = 77,212,100,000

Strike 14175 has a total call value of 78,655,850,000 versus a total put value of 6,566,000,000 Combined total value = 85,221,850,000

Strike 14200 has a total call value of 87,343,900,000 versus a total put value of 5,959,450,000 Combined total value = 93,303,350,000

Strike 14225 has a total call value of 97,021,750,000 versus a total put value of 5,510,050,000 Combined total value = 102,531,800,000

Strike 14250 has a total call value of 106,749,300,000 versus a total put value of 5,069,400,000 Combined total value = 111,818,700,000

Strike 14275 has a total call value of 116,604,600,000 versus a total put value of 4,647,300,000 Combined total value = 121,251,900,000

Strike 14300 has a total call value of 126,508,900,000 versus a total put value of 4,238,500,000 Combined total value = 130,747,400,000

Strike 14325 has a total call value of 137,681,250,000 versus a total put value of 3,998,050,000 Combined total value = 141,679,300,000

Strike 14350 has a total call value of 148,892,450,000 versus a total put value of 3,757,600,000 Combined total value = 152,650,050,000

Strike 14375 has a total call value of 160,326,250,000 versus a total put value of 3,517,150,000 Combined total value = 163,843,400,000

Strike 14400 has a total call value of 171,760,050,000 versus a total put value of 3,276,700,000 Combined total value = 175,036,750,000

Strike 14425 has a total call value of 184,375,100,000 versus a total put value of 3,069,850,000 Combined total value = 187,444,950,000

Strike 14450 has a total call value of 197,018,850,000 versus a total put value of 2,863,000,000 Combined total value = 199,881,850,000

Strike 14475 has a total call value of 209,751,850,000 versus a total put value of 2,656,500,000 Combined total value = 212,408,350,000

Strike 14500 has a total call value of 222,500,950,000 versus a total put value of 2,450,000,000 Combined total value = 224,950,950,000

Strike 14525 has a total call value of 237,437,550,000 versus a total put value of 2,331,350,000 Combined total value = 239,768,900,000

Strike 14550 has a total call value of 252,374,150,000 versus a total put value of 2,212,700,000 Combined total value = 254,586,850,000

Strike 14575 has a total call value of 267,310,750,000 versus a total put value of 2,094,050,000 Combined total value = 269,404,800,000

Strike 14600 has a total call value of 282,247,350,000 versus a total put value of 1,975,400,000 Combined total value = 284,222,750,000

Strike 14625 has a total call value of 297,907,400,000 versus a total put value of 1,856,750,000 Combined total value = 299,764,150,000

Strike 14650 has a total call value of 313,567,800,000 versus a total put value of 1,738,100,000 Combined total value = 315,305,900,000

Strike 14675 has a total call value of 329,334,950,000 versus a total put value of 1,619,450,000 Combined total value = 330,954,400,000

Strike 14700 has a total call value of 345,134,300,000 versus a total put value of 1,500,800,000 Combined total value = 346,635,100,000

Strike 14725 has a total call value of 361,708,900,000 versus a total put value of 1,382,150,000 Combined total value = 363,091,050,000

Strike 14750 has a total call value of 378,283,850,000 versus a total put value of 1,263,500,000 Combined total value = 379,547,350,000

Strike 14775 has a total call value of 394,859,150,000 versus a total put value of 1,144,850,000 Combined total value = 396,004,000,000

Strike 14800 has a total call value of 411,434,450,000 versus a total put value of 1,026,200,000 Combined total value = 412,460,650,000

Strike 14825 has a total call value of 429,160,900,000 versus a total put value of 907,550,000 Combined total value = 430,068,450,000

Strike 14850 has a total call value of 446,887,350,000 versus a total put value of 788,900,000 Combined total value = 447,676,250,000

Strike 14875 has a total call value of 464,613,800,000 versus a total put value of 670,250,000 Combined total value = 465,284,050,000

Strike 14900 has a total call value of 482,340,250,000 versus a total put value of 551,600,000 Combined total value = 482,891,850,000

Strike 14925 has a total call value of 500,379,950,000 versus a total put value of 432,950,000 Combined total value = 500,812,900,000

Strike 14950 has a total call value of 518,419,650,000 versus a total put value of 314,300,000 Combined total value = 518,733,950,000

Strike 14975 has a total call value of 536,459,350,000 versus a total put value of 195,650,000 Combined total value = 536,655,000,000

Strike 15000 has a total call value of 554,499,050,000 versus a total put value of 77,000,000 Combined total value = 554,576,050,000

Strike 15025 has a total call value of 574,668,150,000 versus a total put value of 73,150,000 Combined total value = 574,741,300,000

Strike 15050 has a total call value of 594,837,250,000 versus a total put value of 69,300,000 Combined total value = 594,906,550,000

Strike 15075 has a total call value of 615,006,350,000 versus a total put value of 65,450,000 Combined total value = 615,071,800,000

Strike 15100 has a total call value of 635,175,450,000 versus a total put value of 61,600,000 Combined total value = 635,237,050,000

Strike 15125 has a total call value of 655,392,150,000 versus a total put value of 57,750,000 Combined total value = 655,449,900,000

Strike 15150 has a total call value of 675,608,850,000 versus a total put value of 53,900,000 Combined total value = 675,662,750,000

Strike 15175 has a total call value of 695,825,550,000 versus a total put value of 50,050,000 Combined total value = 695,875,600,000

Strike 15200 has a total call value of 716,042,250,000 versus a total put value of 46,200,000 Combined total value = 716,088,450,000

Strike 15225 has a total call value of 736,272,600,000 versus a total put value of 42,350,000 Combined total value = 736,314,950,000

Strike 15250 has a total call value of 756,502,950,000 versus a total put value of 38,500,000 Combined total value = 756,541,450,000

Strike 15275 has a total call value of 776,733,300,000 versus a total put value of 34,650,000 Combined total value = 776,767,950,000

Strike 15300 has a total call value of 796,963,650,000 versus a total put value of 30,800,000 Combined total value = 796,994,450,000

Strike 15325 has a total call value of 817,299,700,000 versus a total put value of 26,950,000 Combined total value = 817,326,650,000

Strike 15350 has a total call value of 837,635,750,000 versus a total put value of 23,100,000 Combined total value = 837,658,850,000

Strike 15375 has a total call value of 857,971,800,000 versus a total put value of 19,250,000 Combined total value = 857,991,050,000

Strike 15400 has a total call value of 878,307,850,000 versus a total put value of 15,400,000 Combined total value = 878,323,250,000

Strike 15425 has a total call value of 898,651,250,000 versus a total put value of 11,550,000 Combined total value = 898,662,800,000

Strike 15450 has a total call value of 918,994,650,000 versus a total put value of 7,700,000 Combined total value = 919,002,350,000

Strike 15475 has a total call value of 939,338,050,000 versus a total put value of 3,850,000 Combined total value = 939,341,900,000

Strike 15500 has a total call value of 959,681,450,000 versus a total put value of 0 Combined total value = 959,681,450,000

Strike 15525 has a total call value of 980,289,450,000 versus a total put value of 0 Combined total value = 980,289,450,000

Strike 15550 has a total call value of 1,000,897,450,000 versus a total put value of 0 Combined total value = 1,000,897,450,000

Strike 15575 has a total call value of 1,021,505,450,000 versus a total put value of 0 Combined total value = 1,021,505,450,000

Strike 15600 has a total call value of 1,042,113,450,000 versus a total put value of 0 Combined total value = 1,042,113,450,000

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	1128.2	1140
ABB	5057.5	5200
ABCAPITAL	357.1	345
ADANIENSOL	960.5	980
ADANIENT	2216.2	2300
ADANIGREEN	993.8	1020
ADANIPORTS	1480.5	1500
ALKEM	5599	5700
AMBER	6451	6500
AMBUJACEM	528.95	550
ANGELONE	2542.6	2600
APLAPOLLO	1736.1	1760
APOLLOHOSP	7096	7300
ASHOKLEY	159.28	157
ASIANPAINT	2928.3	2900
ASTRAL	1433.3	1460
AUBANK	952.55	940
AUROPHARMA	1177.4	1220
AXISBANK	1273.8	1270
BAJAJ-AUTO	9026	9100
BAJAJFINSV	2059.2	2080
BAJFINANCE	1026.4	1030
BANDHANBNK	135.47	150
BANKBARODA	285.2	290
BANKINDIA	138.15	145
BDL	1423.1	1500
BEL	386.4	405
BHARATFORG	1373.6	1400
BHARTIARTL	2086.2	2100
BHEL	269.7	282.5
BIOCON	383.8	395
BLUESTARCO	1723.2	1760
BOSCHLTD	36595	36500
BPCL	357.55	360
BRITANNIA	5847.5	5900
BSE	2798.8	2800
CAMS	753.4	780
CANBK	142.84	149
CDSL	1520.9	1580
CGPOWER	647.15	680
CHOLAFIN	1724.4	1700
CIPLA	1497.6	1520
COALINDIA	377.35	380
COFORGE	1951.3	1860
COLPAL	2146.4	2200
CONCOR	500.15	520
CROMPTON	252.7	270
CUMMINSIND	4467	4450
CYIENT	1141.9	1160
DABUR	504.45	515
DALBHARAT	1993.8	2000
DELHIVERY	398.05	420
DIVISLAB	6328.5	6450
DIXON	13563	14250
DLF	687.45	720
DMART	3867.6	4000
DRREDDY	1266.5	1270
EICHERMOT	7142	7100
ETERNAL	285.25	300
EXIDEIND	373.25	380
FEDERALBNK	257.45	255
FORTIS	860.8	900
GAIL	166.81	175
GLENMARK	1921.9	1940
GMRAIRPORT	98.71	102
GODREJCP	1121.6	1140
GODREJPROP	1975.1	2060
GRASIM	2744.2	2760
HAL	4287.1	4500
HAVELLS	1407.3	1440
HCLTECH	1688.6	1660
HDFCAMC	2551.5	2650
HDFCBANK	1003.1	1000
HDFCLIFE	764.05	770
HEROMOTOCO	6167	6200
HFCL	66.49	70
HINDALCO	819.45	800
HINDPETRO	445.95	455
HINDUNILVR	2314	2340
HINDZINC	490.45	490
HUDCO	212.79	225
ICICIBANK	1389.6	1390
ICICIGI	1961.1	2000
ICICIPRULI	616.25	620
IDEA	10.29	10
IDFCFIRSTB	79.12	80
IEX	141.91	145
IIFL	554.65	560
INDHOTEL	718.1	740
INDIANB	779.1	830
INDIGO	4923.5	5200
INDUSINDBK	841.4	860
INDUSTOWER	403	410
INFY	1610.8	1600
INOXWIND	124.48	135
IOC	162.1	164
IRCTC	661.3	690
IREDA	131.21	140
IRFC	111.36	117
ITC	402.3	405
JINDALSTEL	997.5	1020
JIOFIN	297.2	310
JSWENERGY	453.85	480
JSWSTEEL	1119.1	1150
JUBLFOOD	584.2	600
KALYANKJIL	475.05	490
KAYNES	3807	5000
KEI	4095.2	4050
KFINTECH	1042	1080
KOTAKBANK	2131.6	2120
KPITTECH	1220.5	1240
LAURUSLABS	1004.1	1000
LICHSGFIN	522.8	550
LICI	857.55	890
LODHA	1072	1140
LT	3996.7	4020
LTF	299.3	300
LTIM	6256	6150
LUPIN	2070.7	2060
M&M	3681.7	3700
MANAPPURAM	271.75	280
MANKIND	2185.5	2250
MARICO	729.3	730
MARUTI	16187	16100
MAXHEALTH	1079.4	1120
MAZDOCK	2483.7	2650
MCX	10183	10100
MFSL	1695.3	1700
MOTHERSON	115.3	115
MPHASIS	2896.8	2900
MUTHOOTFIN	3775.7	3700
NATIONALUM	268.35	265
NAUKRI	1372.1	1380
NBCC	107.98	114
NCC	162.89	172.5
NESTLEIND	1214.8	1250
NHPC	76.43	78
NMDC	74.66	76
NTPC	319.5	325
NUVAMA	7127	7200
NYKAA	252.6	260
OBEROIRLTY	1610	1660
OFSS	8026	8200
OIL	403.95	415
ONGC	238.52	244
PAGEIND	37235	38000
PATANJALI	547.85	550
PAYTM	1321	1320
PERSISTENT	6347	6400
PETRONET	270.8	280
PFC	342.45	365
PGEL	529.6	550
PHOENIXLTD	1721.1	1740
PIDILITIND	1456.1	1480
PIIND	3329.7	3450
PNB	116	121
PNBHOUSING	873.15	900
POLICYBZR	1913.9	1880
POLYCAB	7025	7300
POWERGRID	265.2	275
POWERINDIA	19040	20000
PPLPHARMA	174.65	185
PRESTIGE	1610	1660
RBLBANK	300	310
RECLTD	342.6	360
RELIANCE	1543	1540
RVNL	307.15	310
SAIL	129.75	135
SAMMAANCAP	141.43	160
SBICARD	870.1	880
SBILIFE	2020.7	2020
SBIN	956.4	970
SHREECEM	26135	26500
SHRIRAMFIN	834.25	840
SIEMENS	3204.2	3300
SOLARINDS	12436	13250
SONACOMS	486.35	500
SRF	2831.9	2900
SUNPHARMA	1796.2	1800
SUPREMEIND	3348.4	3500
SUZLON	51.78	54
SYNGENE	632.15	640
TATACONSUM	1145.8	1170
TATAELXSI	5034.5	5200
TATAMOTORS	0	320
TATAPOWER	374.15	390
TATASTEEL	163.47	170
TATATECH	650.85	680
TCS	3236.5	3200
TECHM	1591.8	1540
TIINDIA	2566.8	2750
TITAGARH	763.05	820
TITAN	3767	3840
TMPV	348.3	360
TORNTPHARM	3760	3750
TORNTPOWER	1255.1	1300
TRENT	4090.5	4300
TVSMOTOR	3612.7	3550
ULTRACEMCO	11540	11700
UNIONBANK	148.36	152.5
UNITDSPR	1429.4	1440
UNOMINDA	1258.2	1300
UPL	739.85	750
VBL	469.8	470
VEDL	511.25	520
VOLTAS	1322.5	1360
WIPRO	261.38	255
YESBANK	21.9	23
ZYDUSLIFE	924.6	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