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NBCC

Nbcc (India) Limited
108.31 +1.62 (1.52%)
L: 106.34 H: 108.77
Max Pain - NBCC
11 Dec 2025 04:15 PM IST Market Closed


Strike  92  has a total call value of 0  versus a total put value of  36,468,900,000 Combined total value = 36,468,900,000

Strike  93  has a total call value of 0  versus a total put value of  34,425,950,000 Combined total value = 34,425,950,000

Strike  94  has a total call value of 0  versus a total put value of  32,383,000,000 Combined total value = 32,383,000,000

Strike  95  has a total call value of 0  versus a total put value of  30,355,000,000 Combined total value = 30,355,000,000

Strike  96  has a total call value of 0  versus a total put value of  28,327,000,000 Combined total value = 28,327,000,000

Strike  97  has a total call value of 0  versus a total put value of  26,311,350,000 Combined total value = 26,311,350,000

Strike  98  has a total call value of 0  versus a total put value of  24,295,700,000 Combined total value = 24,295,700,000

Strike  99  has a total call value of 0  versus a total put value of  22,302,800,000 Combined total value = 22,302,800,000

Strike  100  has a total call value of 0  versus a total put value of  20,341,100,000 Combined total value = 20,341,100,000

Strike  101  has a total call value of 7,800,000  versus a total put value of  18,526,300,000 Combined total value = 18,534,100,000

Strike  102  has a total call value of 15,600,000  versus a total put value of  16,711,500,000 Combined total value = 16,727,100,000

Strike  103  has a total call value of 23,400,000  versus a total put value of  14,944,800,000 Combined total value = 14,968,200,000

Strike  104  has a total call value of 31,200,000  versus a total put value of  13,232,050,000 Combined total value = 13,263,250,000

Strike  105  has a total call value of 39,000,000  versus a total put value of  11,519,300,000 Combined total value = 11,558,300,000

Strike  106  has a total call value of 90,350,000  versus a total put value of  9,994,400,000 Combined total value = 10,084,750,000

Strike  107  has a total call value of 184,600,000  versus a total put value of  8,535,800,000 Combined total value = 8,720,400,000

Strike  108  has a total call value of 310,050,000  versus a total put value of  7,203,950,000 Combined total value = 7,514,000,000

Strike  109  has a total call value of 538,200,000  versus a total put value of  6,004,700,000 Combined total value = 6,542,900,000

Strike  110  has a total call value of 850,200,000  versus a total put value of  4,836,650,000 Combined total value = 5,686,850,000

Strike  111  has a total call value of 1,521,000,000  versus a total put value of  4,050,800,000 Combined total value = 5,571,800,000

Strike  112  has a total call value of 2,238,600,000  versus a total put value of  3,305,900,000 Combined total value = 5,544,500,000

Strike  113  has a total call value of 3,071,900,000  versus a total put value of  2,617,550,000 Combined total value = 5,689,450,000

Strike  114  has a total call value of 4,015,050,000  versus a total put value of  1,971,450,000 Combined total value = 5,986,500,000

Strike  115  has a total call value of 5,120,050,000  versus a total put value of  1,365,650,000 Combined total value = 6,485,700,000

Strike  116  has a total call value of 6,824,350,000  versus a total put value of  1,015,300,000 Combined total value = 7,839,650,000

Strike  117  has a total call value of 8,747,050,000  versus a total put value of  692,250,000 Combined total value = 9,439,300,000

Strike  118  has a total call value of 10,882,300,000  versus a total put value of  451,750,000 Combined total value = 11,334,050,000

Strike  119  has a total call value of 13,384,800,000  versus a total put value of  286,000,000 Combined total value = 13,670,800,000

Strike  120  has a total call value of 15,977,000,000  versus a total put value of  143,650,000 Combined total value = 16,120,650,000

Strike  121  has a total call value of 19,533,150,000  versus a total put value of  113,100,000 Combined total value = 19,646,250,000

Strike  122  has a total call value of 23,129,600,000  versus a total put value of  86,450,000 Combined total value = 23,216,050,000

Strike  123  has a total call value of 26,817,700,000  versus a total put value of  63,700,000 Combined total value = 26,881,400,000

Strike  124  has a total call value of 30,540,250,000  versus a total put value of  44,850,000 Combined total value = 30,585,100,000

Strike  125  has a total call value of 34,290,100,000  versus a total put value of  26,650,000 Combined total value = 34,316,750,000

Strike  126  has a total call value of 38,282,400,000  versus a total put value of  20,800,000 Combined total value = 38,303,200,000

Strike  127  has a total call value of 42,298,750,000  versus a total put value of  15,600,000 Combined total value = 42,314,350,000

Strike  128  has a total call value of 46,335,250,000  versus a total put value of  10,400,000 Combined total value = 46,345,650,000

Strike  129  has a total call value of 50,397,750,000  versus a total put value of  5,200,000 Combined total value = 50,402,950,000

Strike  130  has a total call value of 54,460,250,000  versus a total put value of  0 Combined total value = 54,460,250,000

Strike  131  has a total call value of 58,686,550,000  versus a total put value of  0 Combined total value = 58,686,550,000

Strike  132  has a total call value of 62,912,850,000  versus a total put value of  0 Combined total value = 62,912,850,000

Strike  133  has a total call value of 67,167,750,000  versus a total put value of  0 Combined total value = 67,167,750,000

Strike  134  has a total call value of 71,422,650,000  versus a total put value of  0 Combined total value = 71,422,650,000

Strike  135  has a total call value of 75,691,850,000  versus a total put value of  0 Combined total value = 75,691,850,000

Max-Pain Table for Stocks
  Note:- click on symbol to see more detailed view
Max Pain Table (Stocks)
Symbol Symbol Ltp Max Pain
360ONE 1135.8 1140
ABB 5242.5 5200
ABCAPITAL 354.45 350
ADANIENSOL 999.6 980
ADANIENT 2277.7 2300
ADANIGREEN 1018.8 1020
ADANIPORTS 1504 1500
ALKEM 5626 5700
AMBER 6521.5 6700
AMBUJACEM 536.1 550
ANGELONE 2577.4 2600
APLAPOLLO 1723 1740
APOLLOHOSP 7009.5 7200
ASHOKLEY 160.33 157
ASIANPAINT 2779.4 2840
ASTRAL 1406.7 1440
AUBANK 973 950
AUROPHARMA 1172.2 1200
AXISBANK 1272.7 1270
BAJAJ-AUTO 9053.5 9100
BAJAJFINSV 2065.8 2080
BAJFINANCE 1006.4 1020
BANDHANBNK 145.29 150
BANKBARODA 285 290
BANKINDIA 140.76 144
BDL 1413.4 1460
BEL 387.5 400
BHARATFORG 1407.4 1400
BHARTIARTL 2053.2 2100
BHEL 276.5 280
BIOCON 381.75 390
BLUESTARCO 1746.2 1760
BOSCHLTD 36880 37000
BPCL 351.3 360
BRITANNIA 5847 5850
BSE 2698.8 2750
CAMS 756.7 780
CANBK 146.8 148
CDSL 1522.7 1580
CGPOWER 666.5 680
CHOLAFIN 1719.4 1700
CIPLA 1512.3 1520
COALINDIA 384 384.75
COFORGE 1841.4 1840
COLPAL 2154.1 2200
CONCOR 505.95 520
CROMPTON 251.5 265
CUMMINSIND 4531.9 4500
CYIENT 1154.4 1160
DABUR 501.75 510
DALBHARAT 1987.1 2000
DELHIVERY 410.7 420
DIVISLAB 6430 6400
DIXON 12988 13500
DLF 693.65 720
DMART 3830.8 3950
DRREDDY 1273.5 1270
EICHERMOT 7256 7200
ETERNAL 290.95 300
EXIDEIND 374.6 380
FEDERALBNK 260.9 257.5
FORTIS 855.85 900
GAIL 168.95 175
GLENMARK 1956 1940
GMRAIRPORT 98.16 101
GODREJCP 1147.9 1140
GODREJPROP 2035.6 2080
GRASIM 2797.8 2760
HAL 4320.8 4500
HAVELLS 1402.4 1440
HCLTECH 1672.4 1660
HDFCAMC 2664.7 2650
HDFCBANK 1000.3 1000
HDFCLIFE 775.2 770
HEROMOTOCO 5979.5 6100
HFCL 66.84 70
HINDALCO 824.35 810
HINDPETRO 448.05 455
HINDUNILVR 2305.6 2340
HINDZINC 522.65 505
HUDCO 212.53 225
ICICIBANK 1360 1380
ICICIGI 1939.7 1980
ICICIPRULI 635.85 630
IDEA 11.25 11
IDFCFIRSTB 80.61 80
IEX 142.45 145
IIFL 568.2 560
INDHOTEL 729 740
INDIANB 782.65 820
INDIGO 4819 5000
INDUSINDBK 835.55 850
INDUSTOWER 410.35 405
INFY 1598 1600
INOXWIND 121.55 130
IOC 161.75 164
IRCTC 669.85 690
IREDA 134.48 140
IRFC 113.29 117
ITC 402.9 405
JINDALSTEL 1012.9 1020
JIOFIN 298.45 305
JSWENERGY 457.8 480
JSWSTEEL 1105.4 1140
JUBLFOOD 597.9 600
KALYANKJIL 470.05 480
KAYNES 4041.5 4400
KEI 4057.3 4050
KFINTECH 1074 1080
KOTAKBANK 2180.2 2160
KPITTECH 1232.5 1220
LAURUSLABS 1019.3 1000
LICHSGFIN 533.4 550
LICI 858.35 890
LODHA 1080.5 1120
LT 4003.9 4000
LTF 301.7 302.5
LTIM 6294.5 6150
LUPIN 2081.8 2060
M&M 3665.2 3700
MANAPPURAM 283.15 280
MANKIND 2166.8 2200
MARICO 724.7 730
MARUTI 16248 16200
MAXHEALTH 1087.9 1120
MAZDOCK 2467.5 2600
MCX 9938 10000
MFSL 1703.6 1700
MOTHERSON 119.8 115
MPHASIS 2894.9 2900
MUTHOOTFIN 3734.2 3700
NATIONALUM 264.3 265
NAUKRI 1343.5 1360
NBCC 108.31 112
NCC 160.94 170
NESTLEIND 1215 1240
NHPC 76.69 78
NMDC 75.31 76
NTPC 322.6 325
NUVAMA 7230.5 7200
NYKAA 249.55 257.5
OBEROIRLTY 1632.8 1660
OFSS 8005 8100
OIL 404.85 415
ONGC 238.41 240
PAGEIND 37065 38000
PATANJALI 534.05 550
PAYTM 1280.5 1300
PERSISTENT 6204 6200
PETRONET 271.1 280
PFC 342.55 360
PGEL 548.2 560
PHOENIXLTD 1743.8 1740
PIDILITIND 1467.4 1480
PIIND 3376 3450
PNB 117.57 120
PNBHOUSING 900.15 900
POLICYBZR 1948.1 1900
POLYCAB 7218.5 7300
POWERGRID 264.8 275
POWERINDIA 19230 19500
PPLPHARMA 171.79 182.5
PRESTIGE 1652.2 1660
RBLBANK 311.2 310
RECLTD 344 360
RELIANCE 1545 1540
RVNL 311.9 315
SAIL 129.54 134
SAMMAANCAP 144.43 160
SBICARD 873.2 880
SBILIFE 2006.9 2020
SBIN 963.25 970
SHREECEM 26080 26500
SHRIRAMFIN 847.15 840
SIEMENS 3196.5 3250
SOLARINDS 12458 13000
SONACOMS 483.15 500
SRF 2943.7 2900
SUNPHARMA 1807.2 1800
SUPREMEIND 3234.2 3400
SUZLON 52.04 54
SYNGENE 640.85 640
TATACONSUM 1142.1 1170
TATAELXSI 5016.5 5100
TATAMOTORS 0 320
TATAPOWER 380.15 390
TATASTEEL 166.38 170
TATATECH 655.75 680
TCS 3191.9 3200
TECHM 1568.2 1540
TIINDIA 2651.1 2750
TITAGARH 770.2 800
TITAN 3844.8 3840
TMPV 346.65 360
TORNTPHARM 3799 3750
TORNTPOWER 1282.7 1300
TRENT 4047.5 4200
TVSMOTOR 3637.4 3600
ULTRACEMCO 11472 11600
UNIONBANK 150.53 152.5
UNITDSPR 1437.2 1440
UNOMINDA 1234.9 1280
UPL 745.85 750
VBL 478.5 470
VEDL 529.05 520
VOLTAS 1353.4 1360
WIPRO 259.25 255
YESBANK 21.94 23
ZYDUSLIFE 922.55 940

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:

  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.