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NBCC

Nbcc (India) Limited
109.23 -2.83 (-2.53%)
L: 109.11 H: 113.08
Max Pain - NBCC
08 Dec 2025 12:18 PM IST
Live


Strike  92  has a total call value of 0  versus a total put value of  35,649,250,000 Combined total value = 35,649,250,000

Strike  93  has a total call value of 0  versus a total put value of  33,754,500,000 Combined total value = 33,754,500,000

Strike  94  has a total call value of 0  versus a total put value of  31,859,750,000 Combined total value = 31,859,750,000

Strike  95  has a total call value of 0  versus a total put value of  29,979,300,000 Combined total value = 29,979,300,000

Strike  96  has a total call value of 0  versus a total put value of  28,098,850,000 Combined total value = 28,098,850,000

Strike  97  has a total call value of 0  versus a total put value of  26,230,750,000 Combined total value = 26,230,750,000

Strike  98  has a total call value of 0  versus a total put value of  24,362,650,000 Combined total value = 24,362,650,000

Strike  99  has a total call value of 0  versus a total put value of  22,496,500,000 Combined total value = 22,496,500,000

Strike  100  has a total call value of 0  versus a total put value of  20,653,100,000 Combined total value = 20,653,100,000

Strike  101  has a total call value of 2,600,000  versus a total put value of  18,949,450,000 Combined total value = 18,952,050,000

Strike  102  has a total call value of 5,200,000  versus a total put value of  17,245,800,000 Combined total value = 17,251,000,000

Strike  103  has a total call value of 7,800,000  versus a total put value of  15,577,250,000 Combined total value = 15,585,050,000

Strike  104  has a total call value of 10,400,000  versus a total put value of  13,930,150,000 Combined total value = 13,940,550,000

Strike  105  has a total call value of 13,000,000  versus a total put value of  12,283,050,000 Combined total value = 12,296,050,000

Strike  106  has a total call value of 33,800,000  versus a total put value of  10,786,750,000 Combined total value = 10,820,550,000

Strike  107  has a total call value of 54,600,000  versus a total put value of  9,315,800,000 Combined total value = 9,370,400,000

Strike  108  has a total call value of 75,400,000  versus a total put value of  7,883,850,000 Combined total value = 7,959,250,000

Strike  109  has a total call value of 113,750,000  versus a total put value of  6,571,500,000 Combined total value = 6,685,250,000

Strike  110  has a total call value of 152,750,000  versus a total put value of  5,274,100,000 Combined total value = 5,426,850,000

Strike  111  has a total call value of 365,950,000  versus a total put value of  4,415,450,000 Combined total value = 4,781,400,000

Strike  112  has a total call value of 610,350,000  versus a total put value of  3,591,900,000 Combined total value = 4,202,250,000

Strike  113  has a total call value of 941,200,000  versus a total put value of  2,834,650,000 Combined total value = 3,775,850,000

Strike  114  has a total call value of 1,376,050,000  versus a total put value of  2,126,800,000 Combined total value = 3,502,850,000

Strike  115  has a total call value of 1,957,800,000  versus a total put value of  1,459,250,000 Combined total value = 3,417,050,000

Strike  116  has a total call value of 3,112,200,000  versus a total put value of  1,080,950,000 Combined total value = 4,193,150,000

Strike  117  has a total call value of 4,403,750,000  versus a total put value of  733,200,000 Combined total value = 5,136,950,000

Strike  118  has a total call value of 5,900,050,000  versus a total put value of  477,750,000 Combined total value = 6,377,800,000

Strike  119  has a total call value of 7,714,850,000  versus a total put value of  302,250,000 Combined total value = 8,017,100,000

Strike  120  has a total call value of 9,614,150,000  versus a total put value of  150,150,000 Combined total value = 9,764,300,000

Strike  121  has a total call value of 12,543,050,000  versus a total put value of  116,350,000 Combined total value = 12,659,400,000

Strike  122  has a total call value of 15,503,800,000  versus a total put value of  86,450,000 Combined total value = 15,590,250,000

Strike  123  has a total call value of 18,558,150,000  versus a total put value of  63,700,000 Combined total value = 18,621,850,000

Strike  124  has a total call value of 21,662,550,000  versus a total put value of  44,850,000 Combined total value = 21,707,400,000

Strike  125  has a total call value of 24,807,900,000  versus a total put value of  26,650,000 Combined total value = 24,834,550,000

Strike  126  has a total call value of 28,216,500,000  versus a total put value of  20,800,000 Combined total value = 28,237,300,000

Strike  127  has a total call value of 31,653,050,000  versus a total put value of  15,600,000 Combined total value = 31,668,650,000

Strike  128  has a total call value of 35,118,200,000  versus a total put value of  10,400,000 Combined total value = 35,128,600,000

Strike  129  has a total call value of 38,611,300,000  versus a total put value of  5,200,000 Combined total value = 38,616,500,000

Strike  130  has a total call value of 42,104,400,000  versus a total put value of  0 Combined total value = 42,104,400,000

Strike  131  has a total call value of 45,819,150,000  versus a total put value of  0 Combined total value = 45,819,150,000

Strike  132  has a total call value of 49,533,900,000  versus a total put value of  0 Combined total value = 49,533,900,000

Strike  133  has a total call value of 53,277,900,000  versus a total put value of  0 Combined total value = 53,277,900,000

Strike  134  has a total call value of 57,021,900,000  versus a total put value of  0 Combined total value = 57,021,900,000

Strike  135  has a total call value of 60,784,750,000  versus a total put value of  0 Combined total value = 60,784,750,000

Max-Pain Table for Stocks
  Note:- click on symbol to see more detailed view
Max Pain Table (Stocks)
Symbol Symbol Ltp Max Pain
360ONE 1142.4 1140
ABB 5125 5200
ABCAPITAL 355.3 345
ADANIENSOL 964.55 980
ADANIENT 2235 2300
ADANIGREEN 1004 1040
ADANIPORTS 1492.2 1500
ALKEM 5688 5700
AMBER 6496 6500
AMBUJACEM 532.8 550
ANGELONE 2549.5 2650
APLAPOLLO 1733 1760
APOLLOHOSP 7120.5 7300
ASHOKLEY 159.56 157
ASIANPAINT 2940 2920
ASTRAL 1425.5 1460
AUBANK 954.15 940
AUROPHARMA 1193.8 1220
AXISBANK 1270.1 1280
BAJAJ-AUTO 9006 9100
BAJAJFINSV 2071.8 2080
BAJFINANCE 1029.2 1030
BANDHANBNK 138.55 150
BANKBARODA 285.25 290
BANKINDIA 138.8 145
BDL 1451.6 1500
BEL 391.9 410
BHARATFORG 1377 1400
BHARTIARTL 2089.2 2100
BHEL 271.8 285
BIOCON 387.1 400
BLUESTARCO 1711.7 1760
BOSCHLTD 36650 36500
BPCL 359.85 360
BRITANNIA 5861 5900
BSE 2838.4 2800
CAMS 751.9 780
CANBK 143.87 150
CDSL 1531.3 1600
CGPOWER 652.6 680
CHOLAFIN 1727.6 1700
CIPLA 1511 1520
COALINDIA 377.2 380
COFORGE 1940.6 1860
COLPAL 2150.9 2200
CONCOR 508.1 520
CROMPTON 254.6 270
CUMMINSIND 4464.5 4450
CYIENT 1147.2 1160
DABUR 504.1 515
DALBHARAT 1994.3 2000
DELHIVERY 400.5 420
DIVISLAB 6379.5 6450
DIXON 13716 14250
DLF 691.75 730
DMART 3892 4000
DRREDDY 1269.4 1270
EICHERMOT 7191.5 7100
ETERNAL 285.7 300
EXIDEIND 374.1 380
FEDERALBNK 256.55 255
FORTIS 861.05 900
GAIL 166.93 175
GLENMARK 1945.9 1940
GMRAIRPORT 100.49 102
GODREJCP 1123.7 1140
GODREJPROP 1984.4 2080
GRASIM 2746.4 2760
HAL 4370.7 4500
HAVELLS 1413.8 1440
HCLTECH 1690.5 1660
HDFCAMC 2573.4 2650
HDFCBANK 1004.6 1000
HDFCLIFE 772.95 770
HEROMOTOCO 6199 6200
HFCL 67.55 70
HINDALCO 824.15 800
HINDPETRO 447.1 455
HINDUNILVR 2335 2340
HINDZINC 493.8 490
HUDCO 216.25 230
ICICIBANK 1390.3 1390
ICICIGI 1964.7 2000
ICICIPRULI 627.55 620
IDEA 10.41 10
IDFCFIRSTB 79.8 80
IEX 142.77 145
IIFL 554.7 560
INDHOTEL 725.85 740
INDIANB 786.45 830
INDIGO 4963.5 5300
INDUSINDBK 846.65 860
INDUSTOWER 404.5 410
INFY 1618.7 1600
INOXWIND 126.24 137.5
IOC 162.81 165
IRCTC 669.85 690
IREDA 131.29 140
IRFC 112.1 118
ITC 404.65 405
JINDALSTEL 997.8 1030
JIOFIN 298.15 310
JSWENERGY 460.45 480
JSWSTEEL 1138.9 1150
JUBLFOOD 584.55 600
KALYANKJIL 480.85 490
KAYNES 4095 5000
KEI 4110 4100
KFINTECH 1054.2 1080
KOTAKBANK 2143.4 2120
KPITTECH 1232.1 1240
LAURUSLABS 1014.4 1000
LICHSGFIN 531.9 550
LICI 862.15 900
LODHA 1082.9 1140
LT 4001.7 4020
LTF 301.5 302.5
LTIM 6279 6150
LUPIN 2080.4 2080
M&M 3689.6 3700
MANAPPURAM 272.45 280
MANKIND 2191 2250
MARICO 731.55 730
MARUTI 16170 16100
MAXHEALTH 1082.4 1120
MAZDOCK 2522.5 2650
MCX 10277 10100
MFSL 1691.8 1700
MOTHERSON 116.01 115
MPHASIS 2883.3 2900
MUTHOOTFIN 3761.3 3700
NATIONALUM 271.35 265
NAUKRI 1365.9 1380
NBCC 109.23 115
NCC 164.04 175
NESTLEIND 1228 1260
NHPC 76.68 78
NMDC 75.13 76
NTPC 320.85 325
NUVAMA 7220 7200
NYKAA 252.25 260
OBEROIRLTY 1620.5 1660
OFSS 8053 8200
OIL 408.1 420
ONGC 241.01 244
PAGEIND 37170 38000
PATANJALI 545.55 550
PAYTM 1339.4 1320
PERSISTENT 6360 6400
PETRONET 272.5 280
PFC 345.4 365
PGEL 532.5 560
PHOENIXLTD 1714.7 1740
PIDILITIND 1461.7 1480
PIIND 3327 3450
PNB 117.59 122
PNBHOUSING 883.65 900
POLICYBZR 1917.1 1880
POLYCAB 7091.5 7300
POWERGRID 265.85 275
POWERINDIA 18685 20000
PPLPHARMA 174.7 185
PRESTIGE 1624.9 1680
RBLBANK 300.8 310
RECLTD 344.75 360
RELIANCE 1542.8 1540
RVNL 305.35 315
SAIL 130.26 135
SAMMAANCAP 142.81 160
SBICARD 879.45 880
SBILIFE 2028.6 2020
SBIN 958 970
SHREECEM 26205 26500
SHRIRAMFIN 842.45 840
SIEMENS 3260 3300
SOLARINDS 12610 13250
SONACOMS 487.9 500
SRF 2833.7 2900
SUNPHARMA 1799.5 1800
SUPREMEIND 3321.4 3500
SUZLON 52.17 55
SYNGENE 630.25 650
TATACONSUM 1155 1170
TATAELXSI 5129 5300
TATAMOTORS 0 320
TATAPOWER 377.3 390
TATASTEEL 165.43 170
TATATECH 656.6 680
TCS 3245 3200
TECHM 1579.8 1520
TIINDIA 2601 2800
TITAGARH 768.65 820
TITAN 3804.1 3860
TMPV 351.1 360
TORNTPHARM 3762.2 3750
TORNTPOWER 1259.2 1300
TRENT 4145.8 4300
TVSMOTOR 3602.8 3600
ULTRACEMCO 11599 11700
UNIONBANK 148.67 152.5
UNITDSPR 1437.2 1450
UNOMINDA 1264.8 1300
UPL 746.45 750
VBL 469.5 470
VEDL 517.9 520
VOLTAS 1318.8 1360
WIPRO 260.75 255
YESBANK 22.12 23
ZYDUSLIFE 930.8 940

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.