[--[65.84.65.76]--]

NCC

Ncc Limited
161.64 +0.80 (0.50%)
L: 158.85 H: 162.25
Max Pain - NCC
11 Dec 2025 01:55 PM IST
Live


Strike  140  has a total call value of 0  versus a total put value of  25,785,675,000 Combined total value = 25,785,675,000

Strike  142.5  has a total call value of 2,700,000  versus a total put value of  23,492,025,000 Combined total value = 23,494,725,000

Strike  145  has a total call value of 5,400,000  versus a total put value of  21,198,375,000 Combined total value = 21,203,775,000

Strike  147.5  has a total call value of 8,100,000  versus a total put value of  18,974,925,000 Combined total value = 18,983,025,000

Strike  150  has a total call value of 10,800,000  versus a total put value of  16,751,475,000 Combined total value = 16,762,275,000

Strike  152.5  has a total call value of 18,225,000  versus a total put value of  14,735,925,000 Combined total value = 14,754,150,000

Strike  155  has a total call value of 25,650,000  versus a total put value of  12,740,625,000 Combined total value = 12,766,275,000

Strike  157.5  has a total call value of 49,275,000  versus a total put value of  10,993,725,000 Combined total value = 11,043,000,000

Strike  160  has a total call value of 72,900,000  versus a total put value of  9,317,025,000 Combined total value = 9,389,925,000

Strike  162.5  has a total call value of 180,225,000  versus a total put value of  7,943,400,000 Combined total value = 8,123,625,000

Strike  165  has a total call value of 371,925,000  versus a total put value of  6,635,250,000 Combined total value = 7,007,175,000

Strike  167.5  has a total call value of 780,300,000  versus a total put value of  5,546,475,000 Combined total value = 6,326,775,000

Strike  170  has a total call value of 1,251,450,000  versus a total put value of  4,525,200,000 Combined total value = 5,776,650,000

Strike  172.5  has a total call value of 2,155,275,000  versus a total put value of  3,741,525,000 Combined total value = 5,896,800,000

Strike  175  has a total call value of 3,249,450,000  versus a total put value of  3,024,675,000 Combined total value = 6,274,125,000

Strike  177.5  has a total call value of 4,963,275,000  versus a total put value of  2,489,400,000 Combined total value = 7,452,675,000

Strike  180  has a total call value of 6,865,425,000  versus a total put value of  2,009,475,000 Combined total value = 8,874,900,000

Strike  182.5  has a total call value of 9,664,650,000  versus a total put value of  1,742,175,000 Combined total value = 11,406,825,000

Strike  185  has a total call value of 12,560,400,000  versus a total put value of  1,495,800,000 Combined total value = 14,056,200,000

Strike  187.5  has a total call value of 15,793,650,000  versus a total put value of  1,279,800,000 Combined total value = 17,073,450,000

Strike  190  has a total call value of 19,050,525,000  versus a total put value of  1,065,150,000 Combined total value = 20,115,675,000

Strike  192.5  has a total call value of 22,998,600,000  versus a total put value of  922,725,000 Combined total value = 23,921,325,000

Strike  195  has a total call value of 26,966,925,000  versus a total put value of  780,300,000 Combined total value = 27,747,225,000

Strike  197.5  has a total call value of 31,020,300,000  versus a total put value of  648,000,000 Combined total value = 31,668,300,000

Strike  200  has a total call value of 35,073,675,000  versus a total put value of  515,700,000 Combined total value = 35,589,375,000

Strike  202.5  has a total call value of 39,508,425,000  versus a total put value of  436,050,000 Combined total value = 39,944,475,000

Strike  205  has a total call value of 43,958,700,000  versus a total put value of  356,400,000 Combined total value = 44,315,100,000

Strike  207.5  has a total call value of 48,455,550,000  versus a total put value of  288,225,000 Combined total value = 48,743,775,000

Strike  210  has a total call value of 52,963,200,000  versus a total put value of  220,050,000 Combined total value = 53,183,250,000

Strike  212.5  has a total call value of 57,572,100,000  versus a total put value of  186,300,000 Combined total value = 57,758,400,000

Strike  215  has a total call value of 62,181,000,000  versus a total put value of  154,575,000 Combined total value = 62,335,575,000

Strike  217.5  has a total call value of 66,790,575,000  versus a total put value of  124,875,000 Combined total value = 66,915,450,000

Strike  220  has a total call value of 71,400,150,000  versus a total put value of  97,200,000 Combined total value = 71,497,350,000

Strike  222.5  has a total call value of 76,139,325,000  versus a total put value of  78,975,000 Combined total value = 76,218,300,000

Strike  225  has a total call value of 80,879,175,000  versus a total put value of  60,750,000 Combined total value = 80,939,925,000

Strike  227.5  has a total call value of 85,668,975,000  versus a total put value of  50,625,000 Combined total value = 85,719,600,000

Strike  230  has a total call value of 90,458,775,000  versus a total put value of  40,500,000 Combined total value = 90,499,275,000

Strike  232.5  has a total call value of 95,261,400,000  versus a total put value of  30,375,000 Combined total value = 95,291,775,000

Strike  235  has a total call value of 100,064,025,000  versus a total put value of  20,250,000 Combined total value = 100,084,275,000

Strike  237.5  has a total call value of 104,868,000,000  versus a total put value of  10,125,000 Combined total value = 104,878,125,000

Strike  240  has a total call value of 109,672,650,000  versus a total put value of  0 Combined total value = 109,672,650,000

Strike  242.5  has a total call value of 114,480,000,000  versus a total put value of  0 Combined total value = 114,480,000,000

Strike  245  has a total call value of 119,287,350,000  versus a total put value of  0 Combined total value = 119,287,350,000

Max-Pain Table for Stocks
  Note:- click on symbol to see more detailed view
Max Pain Table (Stocks)
Symbol Symbol Ltp Max Pain
360ONE 1129.6 1140
ABB 5229 5200
ABCAPITAL 355.65 350
ADANIENSOL 1004.05 980
ADANIENT 2277.9 2300
ADANIGREEN 1019.1 1020
ADANIPORTS 1513.9 1500
ALKEM 5616 5700
AMBER 6556 6700
AMBUJACEM 535.9 550
ANGELONE 2570 2600
APLAPOLLO 1725 1740
APOLLOHOSP 7013.5 7200
ASHOKLEY 160.32 157
ASIANPAINT 2784.1 2840
ASTRAL 1408.7 1440
AUBANK 976.6 950
AUROPHARMA 1171.9 1200
AXISBANK 1275.9 1280
BAJAJ-AUTO 9072.5 9100
BAJAJFINSV 2066.4 2080
BAJFINANCE 1003.3 1020
BANDHANBNK 143.8 150
BANKBARODA 285.55 290
BANKINDIA 141.13 144
BDL 1413.5 1460
BEL 388.4 400
BHARATFORG 1407.6 1400
BHARTIARTL 2053.7 2100
BHEL 277.65 280
BIOCON 381.15 390
BLUESTARCO 1753.5 1760
BOSCHLTD 36940 37000
BPCL 351.75 360
BRITANNIA 5866.5 5850
BSE 2687.7 2750
CAMS 754 780
CANBK 147 148
CDSL 1522.4 1580
CGPOWER 666 680
CHOLAFIN 1727.3 1700
CIPLA 1510.4 1520
COALINDIA 385 384.75
COFORGE 1839.8 1840
COLPAL 2156.9 2200
CONCOR 507.3 520
CROMPTON 251.95 265
CUMMINSIND 4541.8 4500
CYIENT 1150.1 1160
DABUR 502.9 510
DALBHARAT 1984.3 2000
DELHIVERY 406.45 420
DIVISLAB 6434 6400
DIXON 12835 13250
DLF 692.4 720
DMART 3845.8 3950
DRREDDY 1274.5 1270
EICHERMOT 7259.5 7200
ETERNAL 290.85 300
EXIDEIND 373.8 380
FEDERALBNK 261.5 257.5
FORTIS 854.3 900
GAIL 169.8 175
GLENMARK 1953.2 1940
GMRAIRPORT 98.33 101
GODREJCP 1141.9 1140
GODREJPROP 2033.4 2080
GRASIM 2799.8 2760
HAL 4328.2 4500
HAVELLS 1399.1 1440
HCLTECH 1665.5 1660
HDFCAMC 2645.3 2650
HDFCBANK 999.5 1000
HDFCLIFE 772 770
HEROMOTOCO 5978.5 6100
HFCL 67.2 70
HINDALCO 825 810
HINDPETRO 447.9 455
HINDUNILVR 2306.2 2340
HINDZINC 521.95 505
HUDCO 213.05 225
ICICIBANK 1361.3 1380
ICICIGI 1940.6 1980
ICICIPRULI 634.55 630
IDEA 10.98 10
IDFCFIRSTB 80.64 80
IEX 142.52 145
IIFL 570.95 560
INDHOTEL 727 740
INDIANB 784.1 820
INDIGO 4833 5000
INDUSINDBK 836.85 850
INDUSTOWER 408.3 410
INFY 1590.9 1600
INOXWIND 122.35 130
IOC 161.55 164
IRCTC 669.7 690
IREDA 134.56 140
IRFC 113.2 117
ITC 402.6 405
JINDALSTEL 1011 1020
JIOFIN 297.55 305
JSWENERGY 458.35 480
JSWSTEEL 1101.8 1140
JUBLFOOD 596.8 600
KALYANKJIL 470.8 480
KAYNES 4045 4400
KEI 4054.4 4050
KFINTECH 1073.1 1080
KOTAKBANK 2193 2160
KPITTECH 1230.7 1220
LAURUSLABS 1024.6 1000
LICHSGFIN 533.1 550
LICI 863.65 890
LODHA 1081.5 1120
LT 4005 4000
LTF 301.25 302.5
LTIM 6277 6150
LUPIN 2085 2060
M&M 3658.5 3700
MANAPPURAM 282.15 280
MANKIND 2171 2200
MARICO 727.6 730
MARUTI 16294 16200
MAXHEALTH 1082.3 1120
MAZDOCK 2476.4 2600
MCX 9948 10000
MFSL 1713.8 1700
MOTHERSON 120 115
MPHASIS 2895 2900
MUTHOOTFIN 3745 3700
NATIONALUM 263.6 265
NAUKRI 1345.6 1360
NBCC 108.53 112
NCC 161.64 170
NESTLEIND 1218.2 1240
NHPC 76.72 78
NMDC 75.43 76
NTPC 322.8 325
NUVAMA 7202 7200
NYKAA 249.25 257.5
OBEROIRLTY 1639 1660
OFSS 7997.5 8100
OIL 405.55 415
ONGC 238.75 241.5
PAGEIND 37065 38000
PATANJALI 534 550
PAYTM 1280.4 1300
PERSISTENT 6134.5 6200
PETRONET 271.55 280
PFC 341.5 360
PGEL 550.25 560
PHOENIXLTD 1739 1740
PIDILITIND 1467 1480
PIIND 3369.6 3450
PNB 117.65 120
PNBHOUSING 892.2 900
POLICYBZR 1934.3 1900
POLYCAB 7199.5 7300
POWERGRID 265.7 275
POWERINDIA 19110 19500
PPLPHARMA 171.78 182.5
PRESTIGE 1643.7 1660
RBLBANK 311.35 310
RECLTD 343.15 360
RELIANCE 1546.5 1540
RVNL 312.75 315
SAIL 129.2 134
SAMMAANCAP 144.57 160
SBICARD 878 880
SBILIFE 2012.1 2020
SBIN 965.05 970
SHREECEM 26200 26500
SHRIRAMFIN 845 840
SIEMENS 3174.2 3250
SOLARINDS 12461 13000
SONACOMS 491.1 500
SRF 2936 2900
SUNPHARMA 1801.5 1800
SUPREMEIND 3233.1 3400
SUZLON 51.86 54
SYNGENE 640.8 640
TATACONSUM 1148.5 1170
TATAELXSI 4959 5100
TATAMOTORS 0 320
TATAPOWER 381.6 390
TATASTEEL 165.45 170
TATATECH 650.9 680
TCS 3186.4 3200
TECHM 1559.5 1540
TIINDIA 2641.6 2750
TITAGARH 771.05 800
TITAN 3839.1 3840
TMPV 347.8 360
TORNTPHARM 3780.3 3750
TORNTPOWER 1287.9 1300
TRENT 4039.8 4200
TVSMOTOR 3626.6 3600
ULTRACEMCO 11446 11600
UNIONBANK 150.6 152.5
UNITDSPR 1440.8 1440
UNOMINDA 1235.8 1280
UPL 746.75 750
VBL 474.05 470
VEDL 530.05 520
VOLTAS 1352.3 1360
WIPRO 258.65 255
YESBANK 21.95 23
ZYDUSLIFE 925.35 940

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.