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NBCC

Nbcc (India) Limited
111.72 +0.04 (0.04%)
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Max Pain - NBCC
17 Dec 2025 09:23 AM IST
Live


Strike  92  has a total call value of 0  versus a total put value of  36,959,650,000 Combined total value = 36,959,650,000

Strike  93  has a total call value of 0  versus a total put value of  34,906,950,000 Combined total value = 34,906,950,000

Strike  94  has a total call value of 0  versus a total put value of  32,854,250,000 Combined total value = 32,854,250,000

Strike  95  has a total call value of 1,300,000  versus a total put value of  30,822,350,000 Combined total value = 30,823,650,000

Strike  96  has a total call value of 2,600,000  versus a total put value of  28,790,450,000 Combined total value = 28,793,050,000

Strike  97  has a total call value of 3,900,000  versus a total put value of  26,770,900,000 Combined total value = 26,774,800,000

Strike  98  has a total call value of 5,200,000  versus a total put value of  24,752,000,000 Combined total value = 24,757,200,000

Strike  99  has a total call value of 6,500,000  versus a total put value of  22,747,400,000 Combined total value = 22,753,900,000

Strike  100  has a total call value of 13,650,000  versus a total put value of  20,754,500,000 Combined total value = 20,768,150,000

Strike  101  has a total call value of 28,600,000  versus a total put value of  18,890,950,000 Combined total value = 18,919,550,000

Strike  102  has a total call value of 43,550,000  versus a total put value of  17,032,600,000 Combined total value = 17,076,150,000

Strike  103  has a total call value of 58,500,000  versus a total put value of  15,224,950,000 Combined total value = 15,283,450,000

Strike  104  has a total call value of 73,450,000  versus a total put value of  13,456,300,000 Combined total value = 13,529,750,000

Strike  105  has a total call value of 88,400,000  versus a total put value of  11,687,650,000 Combined total value = 11,776,050,000

Strike  106  has a total call value of 135,850,000  versus a total put value of  10,077,600,000 Combined total value = 10,213,450,000

Strike  107  has a total call value of 209,300,000  versus a total put value of  8,529,950,000 Combined total value = 8,739,250,000

Strike  108  has a total call value of 299,650,000  versus a total put value of  7,108,400,000 Combined total value = 7,408,050,000

Strike  109  has a total call value of 436,800,000  versus a total put value of  5,821,400,000 Combined total value = 6,258,200,000

Strike  110  has a total call value of 615,550,000  versus a total put value of  4,573,400,000 Combined total value = 5,188,950,000

Strike  111  has a total call value of 1,015,300,000  versus a total put value of  3,693,950,000 Combined total value = 4,709,250,000

Strike  112  has a total call value of 1,550,250,000  versus a total put value of  2,876,900,000 Combined total value = 4,427,150,000

Strike  113  has a total call value of 2,262,000,000  versus a total put value of  2,225,600,000 Combined total value = 4,487,600,000

Strike  114  has a total call value of 3,108,300,000  versus a total put value of  1,649,050,000 Combined total value = 4,757,350,000

Strike  115  has a total call value of 4,133,350,000  versus a total put value of  1,140,750,000 Combined total value = 5,274,100,000

Strike  116  has a total call value of 5,854,550,000  versus a total put value of  824,200,000 Combined total value = 6,678,750,000

Strike  117  has a total call value of 7,785,700,000  versus a total put value of  579,150,000 Combined total value = 8,364,850,000

Strike  118  has a total call value of 9,919,000,000  versus a total put value of  396,500,000 Combined total value = 10,315,500,000

Strike  119  has a total call value of 12,367,550,000  versus a total put value of  256,750,000 Combined total value = 12,624,300,000

Strike  120  has a total call value of 14,900,600,000  versus a total put value of  133,900,000 Combined total value = 15,034,500,000

Strike  121  has a total call value of 18,412,550,000  versus a total put value of  104,650,000 Combined total value = 18,517,200,000

Strike  122  has a total call value of 21,991,450,000  versus a total put value of  79,300,000 Combined total value = 22,070,750,000

Strike  123  has a total call value of 25,729,600,000  versus a total put value of  57,850,000 Combined total value = 25,787,450,000

Strike  124  has a total call value of 29,531,450,000  versus a total put value of  40,300,000 Combined total value = 29,571,750,000

Strike  125  has a total call value of 33,373,600,000  versus a total put value of  23,400,000 Combined total value = 33,397,000,000

Strike  126  has a total call value of 37,505,650,000  versus a total put value of  18,200,000 Combined total value = 37,523,850,000

Strike  127  has a total call value of 41,687,100,000  versus a total put value of  13,650,000 Combined total value = 41,700,750,000

Strike  128  has a total call value of 45,889,350,000  versus a total put value of  9,100,000 Combined total value = 45,898,450,000

Strike  129  has a total call value of 50,147,500,000  versus a total put value of  4,550,000 Combined total value = 50,152,050,000

Strike  130  has a total call value of 54,418,000,000  versus a total put value of  0 Combined total value = 54,418,000,000

Strike  131  has a total call value of 59,000,500,000  versus a total put value of  0 Combined total value = 59,000,500,000

Strike  132  has a total call value of 63,583,000,000  versus a total put value of  0 Combined total value = 63,583,000,000

Strike  133  has a total call value of 68,194,750,000  versus a total put value of  0 Combined total value = 68,194,750,000

Strike  134  has a total call value of 72,806,500,000  versus a total put value of  0 Combined total value = 72,806,500,000

Strike  135  has a total call value of 77,433,200,000  versus a total put value of  0 Combined total value = 77,433,200,000

Max-Pain Table for Stocks
  Note:- click on symbol to see more detailed view
Max Pain Table (Stocks)
Symbol Symbol Ltp Max Pain
360ONE 1146.9 1140
ABB 5233 5200
ABCAPITAL 353.2 350
ADANIENSOL 990.35 990
ADANIENT 2249.5 2300
ADANIGREEN 1023.9 1020
ADANIPORTS 1498 1500
ALKEM 5680 5700
AMBER 6772 6800
AMBUJACEM 548.65 555
ANGELONE 2543.9 2600
APLAPOLLO 1731 1740
APOLLOHOSP 7079.5 7200
ASHOKLEY 166.33 160
ASIANPAINT 2792.5 2800
ASTRAL 1455.8 1460
AUBANK 991.55 960
AUROPHARMA 1175.4 1200
AXISBANK 1230.9 1240
BAJAJ-AUTO 8991.5 9000
BAJAJFINSV 2040.7 2060
BAJFINANCE 1007.6 1020
BANDHANBNK 150.02 150
BANKBARODA 285 290
BANKINDIA 141.71 143
BDL 1347.5 1400
BEL 387.05 400
BHARATFORG 1411.5 1400
BHARTIARTL 2111.5 2100
BHEL 279.45 280
BIOCON 386.85 390
BLUESTARCO 1815.4 1780
BOSCHLTD 36290 36500
BPCL 370.5 362.5
BRITANNIA 6079 6000
BSE 2632 2700
CAMS 751.5 780
CANBK 149.22 148
CDSL 1500.8 1560
CGPOWER 685.15 680
CHOLAFIN 1729.5 1700
CIPLA 1499.7 1520
COALINDIA 381.75 382.5
COFORGE 1878.8 1840
COLPAL 2135.3 2180
CONCOR 500.35 520
CROMPTON 252.5 265
CUMMINSIND 4503.4 4500
CYIENT 1143 1160
DABUR 496.55 505
DALBHARAT 2068.6 2040
DELHIVERY 400.3 410
DIVISLAB 6354 6400
DIXON 13501 13750
DLF 688.65 720
DMART 3840 3900
DRREDDY 1272.6 1270
EICHERMOT 7171.5 7100
ETERNAL 286.9 295
EXIDEIND 364.5 375
FEDERALBNK 263.2 260
FORTIS 877.3 890
GAIL 169.7 175
GLENMARK 1958.1 1940
GMRAIRPORT 103.22 102
GODREJCP 1180.8 1160
GODREJPROP 2029 2080
GRASIM 2796.5 2800
HAL 4254 4500
HAVELLS 1402.8 1440
HCLTECH 1658 1660
HDFCAMC 2590.5 2620
HDFCBANK 990.7 1000
HDFCLIFE 762.3 770
HEROMOTOCO 5945 6050
HFCL 65.35 68
HINDALCO 848.15 820
HINDPETRO 469.8 460
HINDUNILVR 2282.9 2300
HINDZINC 580.8 545
HUDCO 210.9 220
ICICIBANK 1354 1380
ICICIGI 1952.8 1980
ICICIPRULI 639.1 630
IDEA 11.25 11
IDFCFIRSTB 84.05 81
IEX 140.41 145
IIFL 573.15 560
INDHOTEL 724.2 740
INDIANB 779.15 820
INDIGO 4962.5 5000
INDUSINDBK 845.1 850
INDUSTOWER 408.4 410
INFY 1596.6 1600
INOXWIND 126.45 130
IOC 169.25 166
IRCTC 669.75 690
IREDA 133.76 140
IRFC 111.96 116
ITC 402.65 405
JINDALSTEL 1011.3 1020
JIOFIN 295.5 305
JSWENERGY 478.75 490
JSWSTEEL 1092.6 1130
JUBLFOOD 558.85 580
KALYANKJIL 480.95 480
KAYNES 4208 4400
KEI 4064 4100
KFINTECH 1037.4 1060
KOTAKBANK 2186 2160
KPITTECH 1174.4 1200
LAURUSLABS 1015.5 1000
LICHSGFIN 529.7 550
LICI 856.8 880
LODHA 1082.8 1100
LT 4066.4 4040
LTF 305.95 302.5
LTIM 6270.5 6150
LUPIN 2120.5 2080
M&M 3634.2 3650
MANAPPURAM 286.45 280
MANKIND 2106.5 2200
MARICO 735.4 740
MARUTI 16479 16200
MAXHEALTH 1070.6 1100
MAZDOCK 2402.7 2550
MCX 10174 10100
MFSL 1676.4 1700
MOTHERSON 119.77 116
MPHASIS 2888.1 2900
MUTHOOTFIN 3850.2 3750
NATIONALUM 279.75 270
NAUKRI 1352.2 1360
NBCC 111.72 112
NCC 157.66 167.5
NESTLEIND 1237.1 1240
NHPC 75.35 78
NMDC 77.34 77
NTPC 321.45 325
NUVAMA 7254 7200
NYKAA 247.3 255
OBEROIRLTY 1640.6 1640
OFSS 7818 8000
OIL 400.5 410
ONGC 232.24 240
PAGEIND 36290 37500
PATANJALI 535.5 545
PAYTM 1285.1 1300
PERSISTENT 6280.5 6200
PETRONET 267.45 277.5
PFC 337.1 355
PGEL 566.5 560
PHOENIXLTD 1786.2 1740
PIDILITIND 1464.6 1480
PIIND 3230.5 3350
PNB 118.07 120
PNBHOUSING 915.25 910
POLICYBZR 1804.1 1840
POLYCAB 7032.5 7300
POWERGRID 260.75 270
POWERINDIA 19505 19500
PPLPHARMA 169 180
PRESTIGE 1622.8 1660
RBLBANK 301.65 310
RECLTD 336.2 350
RELIANCE 1547.8 1540
RVNL 309.4 315
SAIL 130.4 133
SAMMAANCAP 147.32 155
SBICARD 850.4 870
SBILIFE 2045.1 2020
SBIN 973.2 970
SHREECEM 26075 26500
SHRIRAMFIN 872.2 850
SIEMENS 3151.5 3200
SOLARINDS 11935 12500
SONACOMS 485.65 500
SRF 2993.3 2950
SUNPHARMA 1780.1 1800
SUPREMEIND 3386.3 3400
SUZLON 52.46 54
SYNGENE 645.6 650
TATACONSUM 1174.8 1170
TATAELXSI 5001.5 5100
TATAMOTORS 0 320
TATAPOWER 380.85 390
TATASTEEL 170.91 170
TATATECH 650.25 670
TCS 3228.7 3200
TECHM 1580 1540
TIINDIA 2615.6 2700
TITAGARH 783.2 800
TITAN 3927.3 3880
TMPV 347.3 360
TORNTPHARM 3740.3 3800
TORNTPOWER 1285 1300
TRENT 4098.6 4200
TVSMOTOR 3658.6 3600
ULTRACEMCO 11565 11700
UNIONBANK 154.23 152.5
UNITDSPR 1446.6 1440
UNOMINDA 1264.6 1280
UPL 751.95 750
VBL 471.95 470
VEDL 577.2 545
VOLTAS 1387.2 1380
WIPRO 260.1 255
YESBANK 21.65 22
ZYDUSLIFE 918.5 930

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.