[--[65.84.65.76]--]

NHPC

Nhpc Ltd
75.48 -0.53 (-0.70%)
L: 75 H: 76
Max Pain - NHPC
17 Dec 2025 09:23 AM IST
Live


Strike  62  has a total call value of 0  versus a total put value of  28,490,880,000 Combined total value = 28,490,880,000

Strike  63  has a total call value of 0  versus a total put value of  26,440,960,000 Combined total value = 26,440,960,000

Strike  64  has a total call value of 0  versus a total put value of  24,391,040,000 Combined total value = 24,391,040,000

Strike  65  has a total call value of 1,920,000  versus a total put value of  22,343,040,000 Combined total value = 22,344,960,000

Strike  66  has a total call value of 3,840,000  versus a total put value of  20,295,040,000 Combined total value = 20,298,880,000

Strike  67  has a total call value of 5,760,000  versus a total put value of  18,247,040,000 Combined total value = 18,252,800,000

Strike  68  has a total call value of 7,680,000  versus a total put value of  16,199,680,000 Combined total value = 16,207,360,000

Strike  69  has a total call value of 9,600,000  versus a total put value of  14,213,760,000 Combined total value = 14,223,360,000

Strike  70  has a total call value of 11,520,000  versus a total put value of  12,290,560,000 Combined total value = 12,302,080,000

Strike  71  has a total call value of 13,440,000  versus a total put value of  10,470,400,000 Combined total value = 10,483,840,000

Strike  72  has a total call value of 15,360,000  versus a total put value of  8,691,200,000 Combined total value = 8,706,560,000

Strike  73  has a total call value of 17,280,000  versus a total put value of  7,171,200,000 Combined total value = 7,188,480,000

Strike  74  has a total call value of 21,760,000  versus a total put value of  5,731,840,000 Combined total value = 5,753,600,000

Strike  75  has a total call value of 54,400,000  versus a total put value of  4,417,920,000 Combined total value = 4,472,320,000

Strike  76  has a total call value of 202,240,000  versus a total put value of  3,283,200,000 Combined total value = 3,485,440,000

Strike  77  has a total call value of 510,080,000  versus a total put value of  2,262,400,000 Combined total value = 2,772,480,000

Strike  78  has a total call value of 1,054,080,000  versus a total put value of  1,468,160,000 Combined total value = 2,522,240,000

Strike  79  has a total call value of 2,010,240,000  versus a total put value of  936,960,000 Combined total value = 2,947,200,000

Strike  80  has a total call value of 3,340,160,000  versus a total put value of  612,480,000 Combined total value = 3,952,640,000

Strike  81  has a total call value of 5,824,000,000  versus a total put value of  490,240,000 Combined total value = 6,314,240,000

Strike  82  has a total call value of 8,554,880,000  versus a total put value of  374,400,000 Combined total value = 8,929,280,000

Strike  83  has a total call value of 11,674,240,000  versus a total put value of  269,440,000 Combined total value = 11,943,680,000

Strike  84  has a total call value of 15,008,640,000  versus a total put value of  170,240,000 Combined total value = 15,178,880,000

Strike  85  has a total call value of 18,590,080,000  versus a total put value of  84,480,000 Combined total value = 18,674,560,000

Strike  86  has a total call value of 22,745,600,000  versus a total put value of  67,200,000 Combined total value = 22,812,800,000

Strike  87  has a total call value of 26,984,960,000  versus a total put value of  49,920,000 Combined total value = 27,034,880,000

Strike  88  has a total call value of 31,227,520,000  versus a total put value of  35,840,000 Combined total value = 31,263,360,000

Strike  89  has a total call value of 35,555,840,000  versus a total put value of  23,040,000 Combined total value = 35,578,880,000

Strike  90  has a total call value of 39,892,480,000  versus a total put value of  10,240,000 Combined total value = 39,902,720,000

Strike  91  has a total call value of 44,367,360,000  versus a total put value of  7,040,000 Combined total value = 44,374,400,000

Strike  92  has a total call value of 48,842,240,000  versus a total put value of  3,840,000 Combined total value = 48,846,080,000

Strike  93  has a total call value of 53,322,240,000  versus a total put value of  2,560,000 Combined total value = 53,324,800,000

Strike  94  has a total call value of 57,826,560,000  versus a total put value of  1,280,000 Combined total value = 57,827,840,000

Strike  95  has a total call value of 62,330,880,000  versus a total put value of  0 Combined total value = 62,330,880,000

Strike  96  has a total call value of 66,835,200,000  versus a total put value of  0 Combined total value = 66,835,200,000

Strike  97  has a total call value of 71,350,400,000  versus a total put value of  0 Combined total value = 71,350,400,000

Strike  98  has a total call value of 75,865,600,000  versus a total put value of  0 Combined total value = 75,865,600,000

Strike  99  has a total call value of 80,389,120,000  versus a total put value of  0 Combined total value = 80,389,120,000

Strike  100  has a total call value of 84,912,640,000  versus a total put value of  0 Combined total value = 84,912,640,000

Max-Pain Table for Stocks
  Note:- click on symbol to see more detailed view
Max Pain Table (Stocks)
Symbol Symbol Ltp Max Pain
360ONE 1141.9 1140
ABB 5236 5200
ABCAPITAL 352.5 350
ADANIENSOL 991.85 990
ADANIENT 2252.7 2300
ADANIGREEN 1025.4 1020
ADANIPORTS 1499.8 1500
ALKEM 5690 5700
AMBER 6776.5 6800
AMBUJACEM 549.7 555
ANGELONE 2539 2600
APLAPOLLO 1733.9 1740
APOLLOHOSP 7082 7200
ASHOKLEY 166.5 160
ASIANPAINT 2795.4 2800
ASTRAL 1457.3 1460
AUBANK 991.7 960
AUROPHARMA 1177 1200
AXISBANK 1234.8 1240
BAJAJ-AUTO 8995 9000
BAJAJFINSV 2041.7 2060
BAJFINANCE 1010.3 1020
BANDHANBNK 149.69 150
BANKBARODA 284.6 290
BANKINDIA 141.63 143
BDL 1350.9 1400
BEL 387.6 400
BHARATFORG 1412.5 1400
BHARTIARTL 2112.4 2100
BHEL 279.5 280
BIOCON 387.45 390
BLUESTARCO 1815 1780
BOSCHLTD 36290 36500
BPCL 371.1 362.5
BRITANNIA 6081 6000
BSE 2637.7 2700
CAMS 752.2 780
CANBK 149.39 148
CDSL 1498.4 1560
CGPOWER 686.7 680
CHOLAFIN 1729.9 1700
CIPLA 1498.1 1520
COALINDIA 382.15 384.75
COFORGE 1881 1840
COLPAL 2134.9 2180
CONCOR 501 520
CROMPTON 252.7 265
CUMMINSIND 4501 4500
CYIENT 1144.7 1160
DABUR 497.4 505
DALBHARAT 2068.6 2040
DELHIVERY 401.25 410
DIVISLAB 6360.5 6400
DIXON 13523 13750
DLF 688.25 720
DMART 3841 3900
DRREDDY 1274 1270
EICHERMOT 7158 7100
ETERNAL 288.4 295
EXIDEIND 364.5 375
FEDERALBNK 262.7 260
FORTIS 877.45 890
GAIL 170.42 175
GLENMARK 1955.9 1940
GMRAIRPORT 103.87 102
GODREJCP 1176.2 1160
GODREJPROP 2033 2080
GRASIM 2794 2800
HAL 4268.3 4500
HAVELLS 1404.2 1440
HCLTECH 1660.1 1660
HDFCAMC 2595.9 2620
HDFCBANK 991 1000
HDFCLIFE 762.3 770
HEROMOTOCO 5940 6050
HFCL 65.53 68
HINDALCO 847.75 820
HINDPETRO 470.15 460
HINDUNILVR 2283 2300
HINDZINC 581.65 545
HUDCO 210.99 220
ICICIBANK 1354.1 1370
ICICIGI 1955.5 1980
ICICIPRULI 638.75 630
IDEA 11.3 11
IDFCFIRSTB 83.81 81
IEX 140.49 145
IIFL 572.55 560
INDHOTEL 725.75 740
INDIANB 777.1 820
INDIGO 4963 5000
INDUSINDBK 843.4 850
INDUSTOWER 408.55 410
INFY 1598.2 1600
INOXWIND 126.35 130
IOC 168.62 166
IRCTC 670.55 690
IREDA 133.79 140
IRFC 112.02 116
ITC 402.35 405
JINDALSTEL 1009.4 1020
JIOFIN 295.45 305
JSWENERGY 479.1 490
JSWSTEEL 1093 1130
JUBLFOOD 561.3 580
KALYANKJIL 480.45 480
KAYNES 4225 4400
KEI 4075.2 4100
KFINTECH 1035.4 1060
KOTAKBANK 2183.1 2160
KPITTECH 1172.9 1200
LAURUSLABS 1016.9 1000
LICHSGFIN 529.75 550
LICI 856.3 880
LODHA 1084.2 1100
LT 4071.2 4040
LTF 305.8 302.5
LTIM 6263 6150
LUPIN 2120.5 2080
M&M 3633.4 3650
MANAPPURAM 286.5 280
MANKIND 2108.4 2200
MARICO 735.95 740
MARUTI 16466 16300
MAXHEALTH 1068.7 1100
MAZDOCK 2412 2550
MCX 10200 10100
MFSL 1677 1700
MOTHERSON 119.87 116
MPHASIS 2889.7 2900
MUTHOOTFIN 3839.3 3750
NATIONALUM 279.35 270
NAUKRI 1358 1360
NBCC 111.38 112
NCC 157.26 167.5
NESTLEIND 1235.2 1240
NHPC 75.48 78
NMDC 77.26 77
NTPC 321.5 325
NUVAMA 7259.5 7200
NYKAA 247.95 255
OBEROIRLTY 1638.3 1640
OFSS 7830.5 8000
OIL 400.6 410
ONGC 232.54 240
PAGEIND 36290 37500
PATANJALI 534.85 545
PAYTM 1287.1 1300
PERSISTENT 6298 6300
PETRONET 267.7 277.5
PFC 337.05 355
PGEL 566.3 560
PHOENIXLTD 1787.3 1740
PIDILITIND 1464.6 1480
PIIND 3234.3 3350
PNB 118.07 120
PNBHOUSING 913 910
POLICYBZR 1807 1840
POLYCAB 7078 7300
POWERGRID 260.6 270
POWERINDIA 19500 19500
PPLPHARMA 168.88 180
PRESTIGE 1618.7 1660
RBLBANK 300.6 310
RECLTD 336.1 350
RELIANCE 1548.4 1540
RVNL 309.6 315
SAIL 130.39 133
SAMMAANCAP 147.09 155
SBICARD 849.8 870
SBILIFE 2044.2 2020
SBIN 972.95 970
SHREECEM 26095 26500
SHRIRAMFIN 869.2 850
SIEMENS 3155.7 3200
SOLARINDS 11949 12500
SONACOMS 485.85 500
SRF 3003 2950
SUNPHARMA 1778.7 1800
SUPREMEIND 3392.1 3400
SUZLON 52.49 54
SYNGENE 645.35 650
TATACONSUM 1173.2 1170
TATAELXSI 5009 5100
TATAMOTORS 0 320
TATAPOWER 380.75 390
TATASTEEL 171.16 170
TATATECH 650.45 670
TCS 3227.1 3200
TECHM 1579.8 1540
TIINDIA 2631 2700
TITAGARH 784.75 800
TITAN 3925.8 3880
TMPV 347.4 360
TORNTPHARM 3738.5 3800
TORNTPOWER 1285.9 1300
TRENT 4097.4 4200
TVSMOTOR 3651.7 3600
ULTRACEMCO 11576 11700
UNIONBANK 153.89 152.5
UNITDSPR 1447.1 1440
UNOMINDA 1265.8 1280
UPL 751.7 750
VBL 473.85 470
VEDL 575 550
VOLTAS 1389 1380
WIPRO 260.13 255
YESBANK 21.61 22
ZYDUSLIFE 919.65 930

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.