[--[65.84.65.76]--]

MOTHERSON

Samvrdhna Mthrsn Intl Ltd
120.15 -1.15 (-0.95%)
L: 119.31 H: 121.03
Max Pain - MOTHERSON
15 Dec 2025 11:57 AM IST
Live


Strike  92  has a total call value of 0  versus a total put value of  86,950,545,000 Combined total value = 86,950,545,000

Strike  93  has a total call value of 3,075,000  versus a total put value of  82,750,095,000 Combined total value = 82,753,170,000

Strike  94  has a total call value of 6,150,000  versus a total put value of  78,549,645,000 Combined total value = 78,555,795,000

Strike  95  has a total call value of 9,225,000  versus a total put value of  74,349,195,000 Combined total value = 74,358,420,000

Strike  96  has a total call value of 12,300,000  versus a total put value of  70,148,745,000 Combined total value = 70,161,045,000

Strike  97  has a total call value of 15,375,000  versus a total put value of  65,948,295,000 Combined total value = 65,963,670,000

Strike  98  has a total call value of 18,450,000  versus a total put value of  61,747,845,000 Combined total value = 61,766,295,000

Strike  99  has a total call value of 21,525,000  versus a total put value of  57,599,670,000 Combined total value = 57,621,195,000

Strike  100  has a total call value of 24,600,000  versus a total put value of  53,451,495,000 Combined total value = 53,476,095,000

Strike  101  has a total call value of 72,570,000  versus a total put value of  49,605,285,000 Combined total value = 49,677,855,000

Strike  102  has a total call value of 120,540,000  versus a total put value of  45,759,075,000 Combined total value = 45,879,615,000

Strike  103  has a total call value of 168,510,000  versus a total put value of  41,987,280,000 Combined total value = 42,155,790,000

Strike  104  has a total call value of 216,480,000  versus a total put value of  38,257,920,000 Combined total value = 38,474,400,000

Strike  105  has a total call value of 264,450,000  versus a total put value of  34,528,560,000 Combined total value = 34,793,010,000

Strike  106  has a total call value of 312,420,000  versus a total put value of  31,066,110,000 Combined total value = 31,378,530,000

Strike  107  has a total call value of 360,390,000  versus a total put value of  27,603,660,000 Combined total value = 27,964,050,000

Strike  108  has a total call value of 408,360,000  versus a total put value of  24,221,160,000 Combined total value = 24,629,520,000

Strike  109  has a total call value of 456,330,000  versus a total put value of  20,929,065,000 Combined total value = 21,385,395,000

Strike  110  has a total call value of 523,365,000  versus a total put value of  17,743,980,000 Combined total value = 18,267,345,000

Strike  111  has a total call value of 995,685,000  versus a total put value of  15,282,750,000 Combined total value = 16,278,435,000

Strike  112  has a total call value of 1,624,215,000  versus a total put value of  12,920,535,000 Combined total value = 14,544,750,000

Strike  113  has a total call value of 2,399,730,000  versus a total put value of  10,724,370,000 Combined total value = 13,124,100,000

Strike  114  has a total call value of 3,242,895,000  versus a total put value of  8,754,525,000 Combined total value = 11,997,420,000

Strike  115  has a total call value of 4,086,060,000  versus a total put value of  6,955,650,000 Combined total value = 11,041,710,000

Strike  116  has a total call value of 5,245,335,000  versus a total put value of  5,536,845,000 Combined total value = 10,782,180,000

Strike  117  has a total call value of 6,531,300,000  versus a total put value of  4,295,775,000 Combined total value = 10,827,075,000

Strike  118  has a total call value of 7,926,735,000  versus a total put value of  3,218,295,000 Combined total value = 11,145,030,000

Strike  119  has a total call value of 9,469,155,000  versus a total put value of  2,332,695,000 Combined total value = 11,801,850,000

Strike  120  has a total call value of 11,210,835,000  versus a total put value of  1,619,910,000 Combined total value = 12,830,745,000

Strike  121  has a total call value of 13,894,080,000  versus a total put value of  1,240,455,000 Combined total value = 15,134,535,000

Strike  122  has a total call value of 16,803,030,000  versus a total put value of  1,041,810,000 Combined total value = 17,844,840,000

Strike  123  has a total call value of 19,896,480,000  versus a total put value of  881,910,000 Combined total value = 20,778,390,000

Strike  124  has a total call value of 23,160,900,000  versus a total put value of  744,765,000 Combined total value = 23,905,665,000

Strike  125  has a total call value of 26,549,550,000  versus a total put value of  607,620,000 Combined total value = 27,157,170,000

Strike  126  has a total call value of 30,608,550,000  versus a total put value of  525,210,000 Combined total value = 31,133,760,000

Strike  127  has a total call value of 34,951,680,000  versus a total put value of  442,800,000 Combined total value = 35,394,480,000

Strike  128  has a total call value of 39,608,460,000  versus a total put value of  367,770,000 Combined total value = 39,976,230,000

Strike  129  has a total call value of 44,473,725,000  versus a total put value of  292,740,000 Combined total value = 44,766,465,000

Strike  130  has a total call value of 49,338,990,000  versus a total put value of  217,710,000 Combined total value = 49,556,700,000

Strike  131  has a total call value of 54,600,930,000  versus a total put value of  181,425,000 Combined total value = 54,782,355,000

Strike  132  has a total call value of 59,862,870,000  versus a total put value of  145,140,000 Combined total value = 60,008,010,000

Strike  133  has a total call value of 65,233,050,000  versus a total put value of  108,855,000 Combined total value = 65,341,905,000

Strike  134  has a total call value of 70,603,230,000  versus a total put value of  72,570,000 Combined total value = 70,675,800,000

Strike  135  has a total call value of 76,052,130,000  versus a total put value of  36,285,000 Combined total value = 76,088,415,000

Strike  136  has a total call value of 81,501,030,000  versus a total put value of  0 Combined total value = 81,501,030,000

Max-Pain Table for Stocks
  Note:- click on symbol to see more detailed view
Max Pain Table (Stocks)
Symbol Symbol Ltp Max Pain
360ONE 1136.8 1140
ABB 5272.5 5200
ABCAPITAL 355.65 350
ADANIENSOL 1015.9 990
ADANIENT 2290 2300
ADANIGREEN 1048.3 1040
ADANIPORTS 1516.4 1500
ALKEM 5601 5700
AMBER 6789 6700
AMBUJACEM 553.4 550
ANGELONE 2581 2600
APLAPOLLO 1728 1740
APOLLOHOSP 7073.5 7200
ASHOKLEY 166.02 160
ASIANPAINT 2794.9 2820
ASTRAL 1420.1 1440
AUBANK 973.6 960
AUROPHARMA 1185 1200
AXISBANK 1287.1 1280
BAJAJ-AUTO 8897 9000
BAJAJFINSV 2074.8 2060
BAJFINANCE 1015.7 1020
BANDHANBNK 150.54 150
BANKBARODA 286.2 290
BANKINDIA 142.15 142
BDL 1406 1440
BEL 391.3 400
BHARATFORG 1400 1400
BHARTIARTL 2072.4 2100
BHEL 283 282.5
BIOCON 385.65 390
BLUESTARCO 1811.5 1780
BOSCHLTD 36550 36500
BPCL 366.15 365
BRITANNIA 6017 5950
BSE 2693.2 2750
CAMS 754.4 780
CANBK 148.9 148
CDSL 1518.4 1560
CGPOWER 663.05 680
CHOLAFIN 1720.8 1700
CIPLA 1508.1 1520
COALINDIA 383.95 382.25
COFORGE 1861.5 1840
COLPAL 2157.6 2180
CONCOR 504.75 510
CROMPTON 253 260
CUMMINSIND 4535.2 4500
CYIENT 1156 1160
DABUR 496.7 500
DALBHARAT 2090.5 2020
DELHIVERY 408.85 420
DIVISLAB 6384.5 6400
DIXON 13668 13500
DLF 696.1 710
DMART 3834.5 3900
DRREDDY 1273.4 1270
EICHERMOT 7117 7150
ETERNAL 299.5 300
EXIDEIND 371.55 375
FEDERALBNK 264.6 260
FORTIS 865.2 880
GAIL 170 172.5
GLENMARK 1967 1940
GMRAIRPORT 105.34 102
GODREJCP 1155.3 1140
GODREJPROP 2062.5 2040
GRASIM 2826.2 2800
HAL 4337.9 4500
HAVELLS 1412.2 1420
HCLTECH 1681.6 1660
HDFCAMC 2616.9 2650
HDFCBANK 996.9 1000
HDFCLIFE 771.6 770
HEROMOTOCO 5912.5 6000
HFCL 66.34 68
HINDALCO 849.5 820
HINDPETRO 464.3 460
HINDUNILVR 2277.5 2300
HINDZINC 562.9 540
HUDCO 215.8 220
ICICIBANK 1366.9 1380
ICICIGI 1928.6 1960
ICICIPRULI 646.2 630
IDEA 11.56 11
IDFCFIRSTB 83.82 80
IEX 142.95 145
IIFL 573.2 560
INDHOTEL 733.2 730
INDIANB 791.25 800
INDIGO 4977.5 5000
INDUSINDBK 849 850
INDUSTOWER 409.45 410
INFY 1604.8 1600
INOXWIND 125.44 130
IOC 166.75 165
IRCTC 673.2 680
IREDA 135.82 140
IRFC 113.57 115
ITC 402.1 405
JINDALSTEL 1026.8 1020
JIOFIN 299.5 300
JSWENERGY 484.25 490
JSWSTEEL 1115.2 1140
JUBLFOOD 578.4 590
KALYANKJIL 486.1 480
KAYNES 4205 4400
KEI 4174.6 4100
KFINTECH 1050.6 1060
KOTAKBANK 2164.5 2160
KPITTECH 1231 1220
LAURUSLABS 1006.8 1000
LICHSGFIN 531 550
LICI 859.4 880
LODHA 1097.1 1100
LT 4085.5 4040
LTF 305.55 305
LTIM 6282 6200
LUPIN 2091.5 2080
M&M 3624 3700
MANAPPURAM 286.95 280
MANKIND 2151.5 2200
MARICO 734.6 730
MARUTI 16418 16300
MAXHEALTH 1074.9 1100
MAZDOCK 2452.5 2500
MCX 10232 10000
MFSL 1683.8 1700
MOTHERSON 120.15 116
MPHASIS 2895.9 2900
MUTHOOTFIN 3852.3 3750
NATIONALUM 279.55 270
NAUKRI 1353.4 1360
NBCC 115.48 113
NCC 161.33 167.5
NESTLEIND 1241.2 1230
NHPC 77 77
NMDC 77.89 76
NTPC 324.1 325
NUVAMA 7285 7200
NYKAA 248.5 255
OBEROIRLTY 1649.1 1640
OFSS 7993 8000
OIL 403.4 410
ONGC 233.02 239
PAGEIND 36735 37000
PATANJALI 532.7 540
PAYTM 1303.3 1300
PERSISTENT 6307 6300
PETRONET 269 275
PFC 340.5 360
PGEL 568.4 560
PHOENIXLTD 1778 1740
PIDILITIND 1474.5 1480
PIIND 3264.6 3350
PNB 118.91 120
PNBHOUSING 913.15 910
POLICYBZR 1904.2 1900
POLYCAB 7308.5 7300
POWERGRID 261.75 270
POWERINDIA 19350 19500
PPLPHARMA 172.48 177.5
PRESTIGE 1640 1660
RBLBANK 306.05 310
RECLTD 341.2 355
RELIANCE 1553.7 1540
RVNL 313.25 315
SAIL 131.2 132
SAMMAANCAP 148.78 155
SBICARD 868.45 880
SBILIFE 2027.2 2020
SBIN 968.45 965
SHREECEM 26260 26500
SHRIRAMFIN 857.1 840
SIEMENS 3163 3200
SOLARINDS 12234 12750
SONACOMS 486.9 495
SRF 3000.2 2950
SUNPHARMA 1793.3 1800
SUPREMEIND 3259.8 3350
SUZLON 53.08 54
SYNGENE 655.45 640
TATACONSUM 1158.3 1170
TATAELXSI 5062.5 5000
TATAMOTORS 0 320
TATAPOWER 381.4 390
TATASTEEL 173 170
TATATECH 657.55 670
TCS 3221.9 3200
TECHM 1582 1560
TIINDIA 2632.6 2650
TITAGARH 783.15 800
TITAN 3861.6 3840
TMPV 345.85 360
TORNTPHARM 3781.6 3750
TORNTPOWER 1286.2 1300
TRENT 4069.6 4200
TVSMOTOR 3623.6 3600
ULTRACEMCO 11687 11700
UNIONBANK 152.83 152.5
UNITDSPR 1441 1440
UNOMINDA 1236.5 1280
UPL 750.6 750
VBL 476.25 475
VEDL 545 530
VOLTAS 1376.5 1360
WIPRO 260.92 255
YESBANK 21.83 22
ZYDUSLIFE 919.85 930

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:

  1. For each strike price: Calculate the difference between the current stock price and the strike price.
  2. Multiply by Open Interest: Multiply this difference by the open interest (number of contracts) at that strike for both call and put options.
  3. Sum the values: Add together the dollar value for put options and call options at each strike price.
  4. Repeat for all strikes: Perform this calculation for every available strike price in the option chain.
  5. 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.