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NCC

Ncc Limited
156.7 -1.15 (-0.73%)
L: 155.52 H: 158.45
Max Pain - NCC
17 Dec 2025 12:03 PM IST
Live


Strike  130  has a total call value of 0  versus a total put value of  35,810,100,000 Combined total value = 35,810,100,000

Strike  132.5  has a total call value of 2,025,000  versus a total put value of  33,291,000,000 Combined total value = 33,293,025,000

Strike  135  has a total call value of 4,050,000  versus a total put value of  30,771,900,000 Combined total value = 30,775,950,000

Strike  137.5  has a total call value of 6,075,000  versus a total put value of  28,252,800,000 Combined total value = 28,258,875,000

Strike  140  has a total call value of 8,100,000  versus a total put value of  25,733,700,000 Combined total value = 25,741,800,000

Strike  142.5  has a total call value of 16,875,000  versus a total put value of  23,322,600,000 Combined total value = 23,339,475,000

Strike  145  has a total call value of 25,650,000  versus a total put value of  20,911,500,000 Combined total value = 20,937,150,000

Strike  147.5  has a total call value of 34,425,000  versus a total put value of  18,619,200,000 Combined total value = 18,653,625,000

Strike  150  has a total call value of 43,200,000  versus a total put value of  16,350,525,000 Combined total value = 16,393,725,000

Strike  152.5  has a total call value of 62,775,000  versus a total put value of  14,368,725,000 Combined total value = 14,431,500,000

Strike  155  has a total call value of 82,350,000  versus a total put value of  12,453,750,000 Combined total value = 12,536,100,000

Strike  157.5  has a total call value of 157,275,000  versus a total put value of  10,712,925,000 Combined total value = 10,870,200,000

Strike  160  has a total call value of 305,775,000  versus a total put value of  9,085,500,000 Combined total value = 9,391,275,000

Strike  162.5  has a total call value of 922,050,000  versus a total put value of  7,792,875,000 Combined total value = 8,714,925,000

Strike  165  has a total call value of 1,687,500,000  versus a total put value of  6,565,050,000 Combined total value = 8,252,550,000

Strike  167.5  has a total call value of 2,797,200,000  versus a total put value of  5,511,375,000 Combined total value = 8,308,575,000

Strike  170  has a total call value of 4,020,300,000  versus a total put value of  4,517,775,000 Combined total value = 8,538,075,000

Strike  172.5  has a total call value of 5,886,675,000  versus a total put value of  3,748,275,000 Combined total value = 9,634,950,000

Strike  175  has a total call value of 7,955,550,000  versus a total put value of  3,039,525,000 Combined total value = 10,995,075,000

Strike  177.5  has a total call value of 10,655,550,000  versus a total put value of  2,502,900,000 Combined total value = 13,158,450,000

Strike  180  has a total call value of 13,583,700,000  versus a total put value of  2,021,625,000 Combined total value = 15,605,325,000

Strike  182.5  has a total call value of 17,475,750,000  versus a total put value of  1,756,350,000 Combined total value = 19,232,100,000

Strike  185  has a total call value of 21,502,125,000  versus a total put value of  1,512,000,000 Combined total value = 23,014,125,000

Strike  187.5  has a total call value of 25,951,050,000  versus a total put value of  1,297,350,000 Combined total value = 27,248,400,000

Strike  190  has a total call value of 30,422,250,000  versus a total put value of  1,084,050,000 Combined total value = 31,506,300,000

Strike  192.5  has a total call value of 35,595,450,000  versus a total put value of  939,600,000 Combined total value = 36,535,050,000

Strike  195  has a total call value of 40,781,475,000  versus a total put value of  795,150,000 Combined total value = 41,576,625,000

Strike  197.5  has a total call value of 46,048,500,000  versus a total put value of  660,825,000 Combined total value = 46,709,325,000

Strike  200  has a total call value of 51,315,525,000  versus a total put value of  526,500,000 Combined total value = 51,842,025,000

Strike  202.5  has a total call value of 56,914,650,000  versus a total put value of  444,150,000 Combined total value = 57,358,800,000

Strike  205  has a total call value of 62,529,300,000  versus a total put value of  361,800,000 Combined total value = 62,891,100,000

Strike  207.5  has a total call value of 68,190,525,000  versus a total put value of  290,925,000 Combined total value = 68,481,450,000

Strike  210  has a total call value of 73,861,200,000  versus a total put value of  220,050,000 Combined total value = 74,081,250,000

Strike  212.5  has a total call value of 79,614,225,000  versus a total put value of  186,300,000 Combined total value = 79,800,525,000

Strike  215  has a total call value of 85,367,250,000  versus a total put value of  154,575,000 Combined total value = 85,521,825,000

Strike  217.5  has a total call value of 91,120,950,000  versus a total put value of  124,875,000 Combined total value = 91,245,825,000

Strike  220  has a total call value of 96,874,650,000  versus a total put value of  97,200,000 Combined total value = 96,971,850,000

Strike  222.5  has a total call value of 102,737,700,000  versus a total put value of  78,975,000 Combined total value = 102,816,675,000

Strike  225  has a total call value of 108,601,425,000  versus a total put value of  60,750,000 Combined total value = 108,662,175,000

Strike  227.5  has a total call value of 114,515,100,000  versus a total put value of  50,625,000 Combined total value = 114,565,725,000

Strike  230  has a total call value of 120,428,775,000  versus a total put value of  40,500,000 Combined total value = 120,469,275,000

Strike  232.5  has a total call value of 126,354,600,000  versus a total put value of  30,375,000 Combined total value = 126,384,975,000

Strike  235  has a total call value of 132,280,425,000  versus a total put value of  20,250,000 Combined total value = 132,300,675,000

Strike  237.5  has a total call value of 138,207,600,000  versus a total put value of  10,125,000 Combined total value = 138,217,725,000

Strike  240  has a total call value of 144,135,450,000  versus a total put value of  0 Combined total value = 144,135,450,000

Strike  242.5  has a total call value of 150,066,000,000  versus a total put value of  0 Combined total value = 150,066,000,000

Strike  245  has a total call value of 155,996,550,000  versus a total put value of  0 Combined total value = 155,996,550,000

Max-Pain Table for Stocks
  Note:- click on symbol to see more detailed view
Max Pain Table (Stocks)
Symbol Symbol Ltp Max Pain
360ONE 1131.6 1140
ABB 5204 5200
ABCAPITAL 349.2 350
ADANIENSOL 986.3 990
ADANIENT 2239 2300
ADANIGREEN 1028.5 1020
ADANIPORTS 1487 1500
ALKEM 5641.5 5700
AMBER 6651 6800
AMBUJACEM 544.25 555
ANGELONE 2512 2600
APLAPOLLO 1739.3 1740
APOLLOHOSP 6977 7200
ASHOKLEY 165.36 160
ASIANPAINT 2782 2800
ASTRAL 1434.5 1460
AUBANK 993.5 960
AUROPHARMA 1187.1 1200
AXISBANK 1229.2 1240
BAJAJ-AUTO 8945 9000
BAJAJFINSV 2024.5 2060
BAJFINANCE 1000.1 1020
BANDHANBNK 148.7 150
BANKBARODA 286.6 290
BANKINDIA 142.27 143
BDL 1335 1400
BEL 386.25 400
BHARATFORG 1416 1400
BHARTIARTL 2100.7 2100
BHEL 277 280
BIOCON 388.1 390
BLUESTARCO 1822 1780
BOSCHLTD 36025 36500
BPCL 366.75 365
BRITANNIA 6090.5 6000
BSE 2654.6 2700
CAMS 744.5 780
CANBK 150.12 150
CDSL 1485.9 1560
CGPOWER 680.3 680
CHOLAFIN 1697.8 1700
CIPLA 1492.3 1520
COALINDIA 383.75 384.75
COFORGE 1853 1840
COLPAL 2114.9 2180
CONCOR 497.35 520
CROMPTON 251.15 265
CUMMINSIND 4513.5 4500
CYIENT 1145.7 1160
DABUR 495.5 500
DALBHARAT 2062.3 2040
DELHIVERY 400.9 410
DIVISLAB 6318.5 6400
DIXON 13327 13750
DLF 681.4 710
DMART 3819.6 3900
DRREDDY 1278.4 1270
EICHERMOT 7160 7150
ETERNAL 285.1 295
EXIDEIND 362.05 375
FEDERALBNK 263.9 260
FORTIS 874.75 890
GAIL 169.04 175
GLENMARK 1951 1940
GMRAIRPORT 102.09 102
GODREJCP 1174.5 1160
GODREJPROP 2023.7 2080
GRASIM 2794.7 2800
HAL 4250 4500
HAVELLS 1399.4 1440
HCLTECH 1650 1660
HDFCAMC 2561.2 2620
HDFCBANK 984.2 1000
HDFCLIFE 751.7 770
HEROMOTOCO 5818.5 6000
HFCL 64.73 68
HINDALCO 846.05 820
HINDPETRO 468.05 460
HINDUNILVR 2272 2300
HINDZINC 582.55 550
HUDCO 208.91 220
ICICIBANK 1351 1370
ICICIGI 1936 1980
ICICIPRULI 632.1 630
IDEA 11.28 11
IDFCFIRSTB 83.75 82
IEX 141.18 145
IIFL 568.5 560
INDHOTEL 719.5 730
INDIANB 775.65 820
INDIGO 4974 5000
INDUSINDBK 835.9 850
INDUSTOWER 406.8 410
INFY 1599 1600
INOXWIND 126.63 130
IOC 168.13 166
IRCTC 667.65 690
IREDA 132.4 140
IRFC 111.41 116
ITC 400.2 405
JINDALSTEL 1006.2 1030
JIOFIN 293.5 305
JSWENERGY 481 490
JSWSTEEL 1084.9 1130
JUBLFOOD 553.25 580
KALYANKJIL 475.6 480
KAYNES 4191.5 4400
KEI 4097 4100
KFINTECH 1033.9 1060
KOTAKBANK 2169 2160
KPITTECH 1170.2 1200
LAURUSLABS 1008.5 1000
LICHSGFIN 525.95 550
LICI 846.1 870
LODHA 1068.4 1100
LT 4059.9 4040
LTF 302.4 302.5
LTIM 6238 6150
LUPIN 2113.7 2080
M&M 3601.5 3650
MANAPPURAM 284.55 280
MANKIND 2096.7 2200
MARICO 739.4 740
MARUTI 16418 16300
MAXHEALTH 1042.9 1100
MAZDOCK 2383.9 2500
MCX 10097 10100
MFSL 1650.4 1680
MOTHERSON 119.88 116
MPHASIS 2869.2 2900
MUTHOOTFIN 3803.4 3750
NATIONALUM 279.45 270
NAUKRI 1346.2 1360
NBCC 110.51 112
NCC 156.7 165
NESTLEIND 1230.8 1240
NHPC 75.67 78
NMDC 77.39 77
NTPC 320.3 325
NUVAMA 7244.5 7200
NYKAA 244.45 255
OBEROIRLTY 1627.6 1640
OFSS 7769 8000
OIL 402 410
ONGC 232.52 239
PAGEIND 36190 37000
PATANJALI 531.1 540
PAYTM 1268.8 1300
PERSISTENT 6294.5 6300
PETRONET 268.35 278
PFC 336.5 355
PGEL 565.8 560
PHOENIXLTD 1788.8 1740
PIDILITIND 1449.1 1480
PIIND 3217.1 3350
PNB 119.21 120
PNBHOUSING 906.45 910
POLICYBZR 1793.7 1840
POLYCAB 7106.5 7200
POWERGRID 262.25 270
POWERINDIA 19195 19500
PPLPHARMA 169.63 180
PRESTIGE 1613.2 1660
RBLBANK 297.6 310
RECLTD 334.15 350
RELIANCE 1542.6 1540
RVNL 308.3 315
SAIL 129.5 132
SAMMAANCAP 151.55 155
SBICARD 837.5 870
SBILIFE 1999.5 2020
SBIN 975.8 970
SHREECEM 26020 26500
SHRIRAMFIN 864 850
SIEMENS 3141.6 3200
SOLARINDS 11906 12500
SONACOMS 489.5 500
SRF 3016.9 2950
SUNPHARMA 1783.6 1800
SUPREMEIND 3335.4 3400
SUZLON 52.18 54
SYNGENE 651.4 650
TATACONSUM 1180.4 1180
TATAELXSI 4990.5 5100
TATAMOTORS 0 320
TATAPOWER 380 390
TATASTEEL 169.91 170
TATATECH 649.2 670
TCS 3218.1 3200
TECHM 1577 1540
TIINDIA 2613 2700
TITAGARH 780.9 800
TITAN 3901.3 3880
TMPV 346.9 360
TORNTPHARM 3740.2 3750
TORNTPOWER 1291.6 1300
TRENT 4059.9 4200
TVSMOTOR 3642.2 3600
ULTRACEMCO 11515 11700
UNIONBANK 153.42 155
UNITDSPR 1444.4 1440
UNOMINDA 1245.6 1280
UPL 745.5 750
VBL 477.05 470
VEDL 572.15 550
VOLTAS 1381.8 1380
WIPRO 260.74 255
YESBANK 21.58 22
ZYDUSLIFE 916.75 930

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.