NIFTY
Nifty
Max pain for NIFTY
21 Nov 2024 11:59 AM IST
Max Pain for NIFTY is 23350
Strike 21700 has a total call value of 0 versus a total put value of 24,959,075,250,000 Combined total value = 24,959,075,250,000
Strike 21750 has a total call value of 375,000 versus a total put value of 23,961,633,250,000 Combined total value = 23,961,633,625,000
Strike 21800 has a total call value of 875,000 versus a total put value of 22,970,067,750,000 Combined total value = 22,970,068,625,000
Strike 21850 has a total call value of 2,500,000 versus a total put value of 22,001,847,500,000 Combined total value = 22,001,850,000,000
Strike 21900 has a total call value of 4,125,000 versus a total put value of 21,041,019,250,000 Combined total value = 21,041,023,375,000
Strike 21950 has a total call value of 5,750,000 versus a total put value of 20,089,811,625,000 Combined total value = 20,089,817,375,000
Strike 22000 has a total call value of 7,375,000 versus a total put value of 19,142,857,375,000 Combined total value = 19,142,864,750,000
Strike 22050 has a total call value of 9,000,000 versus a total put value of 18,218,344,250,000 Combined total value = 18,218,353,250,000
Strike 22100 has a total call value of 10,625,000 versus a total put value of 17,297,541,500,000 Combined total value = 17,297,552,125,000
Strike 22150 has a total call value of 12,250,000 versus a total put value of 16,387,425,875,000 Combined total value = 16,387,438,125,000
Strike 22200 has a total call value of 13,875,000 versus a total put value of 15,483,915,250,000 Combined total value = 15,483,929,125,000
Strike 22250 has a total call value of 15,500,000 versus a total put value of 14,591,836,750,000 Combined total value = 14,591,852,250,000
Strike 22300 has a total call value of 21,000,000 versus a total put value of 13,707,493,500,000 Combined total value = 13,707,514,500,000
Strike 22350 has a total call value of 29,250,000 versus a total put value of 12,841,059,625,000 Combined total value = 12,841,088,875,000
Strike 22400 has a total call value of 39,500,000 versus a total put value of 11,981,765,000,000 Combined total value = 11,981,804,500,000
Strike 22450 has a total call value of 60,875,000 versus a total put value of 11,140,268,000,000 Combined total value = 11,140,328,875,000
Strike 22500 has a total call value of 84,000,000 versus a total put value of 10,309,649,250,000 Combined total value = 10,309,733,250,000
Strike 22550 has a total call value of 376,500,000 versus a total put value of 9,523,377,750,000 Combined total value = 9,523,754,250,000
Strike 22600 has a total call value of 672,500,000 versus a total put value of 8,744,749,250,000 Combined total value = 8,745,421,750,000
Strike 22650 has a total call value of 982,500,000 versus a total put value of 7,988,673,875,000 Combined total value = 7,989,656,375,000
Strike 22700 has a total call value of 1,299,000,000 versus a total put value of 7,246,682,375,000 Combined total value = 7,247,981,375,000
Strike 22750 has a total call value of 1,643,500,000 versus a total put value of 6,541,360,000,000 Combined total value = 6,543,003,500,000
Strike 22800 has a total call value of 1,995,125,000 versus a total put value of 5,857,483,375,000 Combined total value = 5,859,478,500,000
Strike 22850 has a total call value of 2,472,000,000 versus a total put value of 5,219,612,250,000 Combined total value = 5,222,084,250,000
Strike 22900 has a total call value of 2,969,375,000 versus a total put value of 4,597,998,000,000 Combined total value = 4,600,967,375,000
Strike 22950 has a total call value of 3,599,625,000 versus a total put value of 4,002,986,500,000 Combined total value = 4,006,586,125,000
Strike 23000 has a total call value of 4,270,750,000 versus a total put value of 3,422,602,500,000 Combined total value = 3,426,873,250,000
Strike 23050 has a total call value of 6,526,750,000 versus a total put value of 2,900,996,125,000 Combined total value = 2,907,522,875,000
Strike 23100 has a total call value of 9,168,375,000 versus a total put value of 2,393,044,875,000 Combined total value = 2,402,213,250,000
Strike 23150 has a total call value of 13,357,000,000 versus a total put value of 1,917,679,125,000 Combined total value = 1,931,036,125,000
Strike 23200 has a total call value of 19,568,375,000 versus a total put value of 1,467,028,625,000 Combined total value = 1,486,597,000,000
Strike 23250 has a total call value of 36,435,375,000 versus a total put value of 1,073,695,250,000 Combined total value = 1,110,130,625,000
Strike 23300 has a total call value of 68,450,125,000 versus a total put value of 736,155,625,000 Combined total value = 804,605,750,000
Strike 23350 has a total call value of 202,947,125,000 versus a total put value of 582,737,750,000 Combined total value = 785,684,875,000
Strike 23400 has a total call value of 498,008,125,000 versus a total put value of 484,202,500,000 Combined total value = 982,210,625,000
Strike 23450 has a total call value of 908,188,500,000 versus a total put value of 418,892,500,000 Combined total value = 1,327,081,000,000
Strike 23500 has a total call value of 1,369,688,875,000 versus a total put value of 362,569,000,000 Combined total value = 1,732,257,875,000
Strike 23550 has a total call value of 1,925,069,000,000 versus a total put value of 320,260,875,000 Combined total value = 2,245,329,875,000
Strike 23600 has a total call value of 2,518,549,500,000 versus a total put value of 284,609,125,000 Combined total value = 2,803,158,625,000
Strike 23650 has a total call value of 3,168,731,750,000 versus a total put value of 254,655,000,000 Combined total value = 3,423,386,750,000
Strike 23700 has a total call value of 3,844,451,375,000 versus a total put value of 226,374,625,000 Combined total value = 4,070,826,000,000
Strike 23750 has a total call value of 4,566,208,125,000 versus a total put value of 203,057,125,000 Combined total value = 4,769,265,250,000
Strike 23800 has a total call value of 5,314,819,750,000 versus a total put value of 182,340,250,000 Combined total value = 5,497,160,000,000
Strike 23850 has a total call value of 6,110,162,125,000 versus a total put value of 164,575,000,000 Combined total value = 6,274,737,125,000
Strike 23900 has a total call value of 6,930,028,625,000 versus a total put value of 147,741,250,000 Combined total value = 7,077,769,875,000
Strike 23950 has a total call value of 7,792,907,375,000 versus a total put value of 132,740,875,000 Combined total value = 7,925,648,250,000
Strike 24000 has a total call value of 8,677,891,625,000 versus a total put value of 118,183,875,000 Combined total value = 8,796,075,500,000
Strike 24050 has a total call value of 9,625,827,625,000 versus a total put value of 106,486,500,000 Combined total value = 9,732,314,125,000
Strike 24100 has a total call value of 10,595,380,875,000 versus a total put value of 95,035,875,000 Combined total value = 10,690,416,750,000
Strike 24150 has a total call value of 11,605,780,875,000 versus a total put value of 84,438,000,000 Combined total value = 11,690,218,875,000
Strike 24200 has a total call value of 12,629,696,500,000 versus a total put value of 74,864,375,000 Combined total value = 12,704,560,875,000
Strike 24250 has a total call value of 13,692,127,750,000 versus a total put value of 66,989,250,000 Combined total value = 13,759,117,000,000
Strike 24300 has a total call value of 14,767,132,000,000 versus a total put value of 59,504,250,000 Combined total value = 14,826,636,250,000
Strike 24350 has a total call value of 15,870,909,625,000 versus a total put value of 53,009,875,000 Combined total value = 15,923,919,500,000
Strike 24400 has a total call value of 16,984,632,875,000 versus a total put value of 46,563,000,000 Combined total value = 17,031,195,875,000
Strike 24450 has a total call value of 18,118,265,375,000 versus a total put value of 41,946,500,000 Combined total value = 18,160,211,875,000
Strike 24500 has a total call value of 19,259,906,625,000 versus a total put value of 37,372,750,000 Combined total value = 19,297,279,375,000
Strike 24550 has a total call value of 20,446,427,125,000 versus a total put value of 34,770,750,000 Combined total value = 20,481,197,875,000
Strike 24600 has a total call value of 21,639,748,750,000 versus a total put value of 32,201,750,000 Combined total value = 21,671,950,500,000
Strike 24650 has a total call value of 22,844,309,625,000 versus a total put value of 29,858,375,000 Combined total value = 22,874,168,000,000
Strike 24700 has a total call value of 24,056,969,500,000 versus a total put value of 27,538,000,000 Combined total value = 24,084,507,500,000
Strike 24750 has a total call value of 25,283,028,375,000 versus a total put value of 25,343,250,000 Combined total value = 25,308,371,625,000
Strike 24800 has a total call value of 26,516,171,000,000 versus a total put value of 23,160,125,000 Combined total value = 26,539,331,125,000
Strike 24850 has a total call value of 27,759,542,500,000 versus a total put value of 21,297,625,000 Combined total value = 27,780,840,125,000
Strike 24900 has a total call value of 29,007,437,125,000 versus a total put value of 19,443,750,000 Combined total value = 29,026,880,875,000
Strike 24950 has a total call value of 30,265,297,250,000 versus a total put value of 17,622,250,000 Combined total value = 30,282,919,500,000
Strike 25000 has a total call value of 31,527,927,750,000 versus a total put value of 15,801,750,000 Combined total value = 31,543,729,500,000
Strike 25050 has a total call value of 32,817,584,875,000 versus a total put value of 14,747,500,000 Combined total value = 32,832,332,375,000
Strike 25100 has a total call value of 34,115,650,125,000 versus a total put value of 13,693,250,000 Combined total value = 34,129,343,375,000
Strike 25150 has a total call value of 35,424,127,750,000 versus a total put value of 12,664,500,000 Combined total value = 35,436,792,250,000
Strike 25200 has a total call value of 36,733,686,500,000 versus a total put value of 11,635,750,000 Combined total value = 36,745,322,250,000
Strike 25250 has a total call value of 38,046,473,375,000 versus a total put value of 10,686,875,000 Combined total value = 38,057,160,250,000
Strike 25300 has a total call value of 39,360,605,125,000 versus a total put value of 9,738,000,000 Combined total value = 39,370,343,125,000
Strike 25350 has a total call value of 40,676,870,375,000 versus a total put value of 8,832,250,000 Combined total value = 40,685,702,625,000
Strike 25400 has a total call value of 41,993,907,625,000 versus a total put value of 7,926,500,000 Combined total value = 42,001,834,125,000
Strike 25450 has a total call value of 43,312,168,625,000 versus a total put value of 7,077,500,000 Combined total value = 43,319,246,125,000
Strike 25500 has a total call value of 44,631,061,375,000 versus a total put value of 6,228,500,000 Combined total value = 44,637,289,875,000
Strike 25550 has a total call value of 45,959,242,875,000 versus a total put value of 5,580,250,000 Combined total value = 45,964,823,125,000
Strike 25600 has a total call value of 47,288,015,625,000 versus a total put value of 4,932,000,000 Combined total value = 47,292,947,625,000
Strike 25650 has a total call value of 48,618,433,250,000 versus a total put value of 4,312,875,000 Combined total value = 48,622,746,125,000
Strike 25700 has a total call value of 49,949,354,125,000 versus a total put value of 3,693,750,000 Combined total value = 49,953,047,875,000
Strike 25750 has a total call value of 51,281,697,000,000 versus a total put value of 3,098,000,000 Combined total value = 51,284,795,000,000
Strike 25800 has a total call value of 52,614,607,750,000 versus a total put value of 2,504,625,000 Combined total value = 52,617,112,375,000
Strike 25850 has a total call value of 53,948,446,000,000 versus a total put value of 1,947,250,000 Combined total value = 53,950,393,250,000
Strike 25900 has a total call value of 55,282,918,875,000 versus a total put value of 1,390,250,000 Combined total value = 55,284,309,125,000
Strike 25950 has a total call value of 56,618,291,500,000 versus a total put value of 888,125,000 Combined total value = 56,619,179,625,000
Strike 26000 has a total call value of 57,954,112,000,000 versus a total put value of 386,000,000 Combined total value = 57,954,498,000,000
Strike 26050 has a total call value of 59,302,914,000,000 versus a total put value of 322,000,000 Combined total value = 59,303,236,000,000
Strike 26100 has a total call value of 60,652,245,000,000 versus a total put value of 267,500,000 Combined total value = 60,652,512,500,000
Strike 26150 has a total call value of 62,003,564,625,000 versus a total put value of 221,500,000 Combined total value = 62,003,786,125,000
Strike 26200 has a total call value of 63,355,777,500,000 versus a total put value of 175,500,000 Combined total value = 63,355,953,000,000
Strike 26250 has a total call value of 64,710,761,250,000 versus a total put value of 142,625,000 Combined total value = 64,710,903,875,000
Strike 26300 has a total call value of 66,066,751,125,000 versus a total put value of 109,750,000 Combined total value = 66,066,860,875,000
Strike 26350 has a total call value of 67,424,144,750,000 versus a total put value of 78,250,000 Combined total value = 67,424,223,000,000
Strike 26400 has a total call value of 68,783,498,500,000 versus a total put value of 46,750,000 Combined total value = 68,783,545,250,000
Strike 26450 has a total call value of 70,154,151,125,000 versus a total put value of 23,375,000 Combined total value = 70,154,174,500,000
Strike 26500 has a total call value of 71,534,510,125,000 versus a total put value of 0 Combined total value = 71,534,510,125,000
Strike 26550 has a total call value of 72,941,554,625,000 versus a total put value of 0 Combined total value = 72,941,554,625,000
Strike 26600 has a total call value of 74,363,843,250,000 versus a total put value of 0 Combined total value = 74,363,843,250,000
Max-Pain Table for Monthly Expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| AARTIIND | 426.4 | 460 |
| ABB | 6781.6 | 7000 |
| ABBOTINDIA | 27002.45 | 28000 |
| ABCAPITAL | 181.48 | 200 |
| ABFRL | 286.5 | 300 |
| ACC | 2013.9 | 2260 |
| ADANIENT | 2271.6 | 2780 |
| ADANIPORTS | 1077.25 | 1200 |
| ALKEM | 5635.75 | 5600 |
| AMBUJACEM | 489.9 | 550 |
| APOLLOHOSP | 6695.95 | 6900 |
| APOLLOTYRE | 485.6 | 480 |
| ASHOKLEY | 218.76 | 220 |
| ASIANPAINT | 2447.55 | 2560 |
| ASTRAL | 1718.2 | 1780 |
| ATUL | 7276.65 | 7500 |
| AUBANK | 593.75 | 590 |
| AUROPHARMA | 1232.7 | 1300 |
| AXISBANK | 1147.95 | 1150 |
| BAJAJ-AUTO | 9496.5 | 9700 |
| BAJAJFINSV | 1579.2 | 1620 |
| BAJFINANCE | 6492.15 | 6700 |
| BALKRISIND | 2734.05 | 2800 |
| BANDHANBNK | 166.03 | 177.5 |
| BANKBARODA | 228.45 | 240 |
| BATAINDIA | 1284.05 | 1310 |
| BEL | 276.05 | 285 |
| BERGEPAINT | 466.45 | 495 |
| BHARATFORG | 1308.6 | 1340 |
| BHARTIARTL | 1512.4 | 1560 |
| BHEL | 224.49 | 230 |
| BIOCON | 324.95 | 330 |
| BOSCHLTD | 34130.85 | 34000 |
| BPCL | 283.35 | 300 |
| BRITANNIA | 4764.65 | 5000 |
| BSOFT | 545.75 | 560 |
| CANBK | 94.55 | 100 |
| CANFINHOME | 823.2 | 830 |
| CHAMBLFERT | 462.35 | 480 |
| CHOLAFIN | 1213.4 | 1260 |
| CIPLA | 1467.05 | 1520 |
| COALINDIA | 406.7 | 425 |
| COFORGE | 8213.4 | 8000 |
| COLPAL | 2705 | 2800 |
| CONCOR | 772.45 | 810 |
| COROMANDEL | 1773.45 | 1720 |
| CROMPTON | 386.65 | 390 |
| CUB | 169.4 | 175 |
| CUMMINSIND | 3297.75 | 3400 |
| DABUR | 506.15 | 525 |
| DALBHARAT | 1743 | 1740 |
| DEEPAKNTR | 2653.15 | 2650 |
| DIVISLAB | 5961.8 | 5900 |
| DIXON | 15114 | 14750 |
| DLF | 773.25 | 780 |
| DRREDDY | 1200.05 | 1220 |
| EICHERMOT | 4909.25 | 4900 |
| ESCORTS | 3415 | 3600 |
| EXIDEIND | 416.15 | 440 |
| FEDERALBNK | 208.69 | 205 |
| GAIL | 187.97 | 195 |
| GLENMARK | 1474.95 | 1540 |
| GMRINFRA | 76.82 | 82 |
| GNFC | 558.3 | 590 |
| GODREJCP | 1183.2 | 1200 |
| GODREJPROP | 2720.2 | 2750 |
| GRANULES | 544.6 | 580 |
| GRASIM | 2533.95 | 2540 |
| GUJGASLTD | 458.3 | 470 |
| HAL | 4000.95 | 4200 |
| HAVELLS | 1630.15 | 1640 |
| HCLTECH | 1826.6 | 1820 |
| HDFCAMC | 4200 | 4300 |
| HDFCBANK | 1746.65 | 1730 |
| HDFCLIFE | 671.25 | 680 |
| HEROMOTOCO | 4790.9 | 4800 |
| HINDALCO | 649.5 | 650 |
| HINDCOPPER | 262.75 | 290 |
| HINDPETRO | 362.1 | 380 |
| HINDUNILVR | 2389 | 2480 |
| ICICIBANK | 1250.2 | 1260 |
| ICICIGI | 1831.8 | 1860 |
| ICICIPRULI | 684.9 | 690 |
| IDEA | 6.9 | 8 |
| IDFCFIRSTB | 63.51 | 66 |
| IEX | 161.67 | 170 |
| IGL | 312.25 | 330 |
| INDHOTEL | 787 | 750 |
| INDIAMART | 2254.4 | 2350 |
| INDIGO | 4067.95 | 4000 |
| INDUSINDBK | 976 | 1040 |
| INDUSTOWER | 332.65 | 340 |
| INFY | 1825.5 | 1800 |
| IOC | 131.34 | 140 |
| IPCALAB | 1579.05 | 1560 |
| IRCTC | 795.15 | 820 |
| ITC | 458.5 | 475 |
| JINDALSTEL | 875.65 | 900 |
| JKCEMENT | 3989 | 4000 |
| JSWSTEEL | 945.5 | 960 |
| JUBLFOOD | 610.1 | 610 |
| KOTAKBANK | 1733.4 | 1760 |
| LALPATHLAB | 3027.05 | 3100 |
| LAURUSLABS | 490.75 | 490 |
| LICHSGFIN | 611.25 | 630 |
| LT | 3483.8 | 3600 |
| LTF | 138.15 | 140 |
| LTIM | 5900.45 | 5900 |
| LTTS | 5128.7 | 5150 |
| LUPIN | 2053.9 | 2100 |
| M&M | 2935 | 2900 |
| M&MFIN | 258 | 265 |
| MANAPPURAM | 150.8 | 155 |
| MARICO | 588.65 | 600 |
| MARUTI | 10898.05 | 11000 |
| MCX | 6230.9 | 6200 |
| METROPOLIS | 2010.75 | 2060 |
| MFSL | 1177.1 | 1200 |
| MGL | 1120.25 | 1160 |
| MOTHERSON | 162.7 | 172.5 |
| MPHASIS | 2781.55 | 2850 |
| MRF | 123835.15 | 122500 |
| MUTHOOTFIN | 1895.5 | 1880 |
| NATIONALUM | 251.2 | 240 |
| NAUKRI | 7514.05 | 7600 |
| NAVINFLUOR | 3293.6 | 3400 |
| NESTLEIND | 2208.35 | 2280 |
| NMDC | 220.04 | 225 |
| NTPC | 359.15 | 375 |
| OBEROIRLTY | 1949 | 1960 |
| OFSS | 11198.85 | 11500 |
| ONGC | 244.5 | 254 |
| PAGEIND | 44780.05 | 45500 |
| PEL | 1054.7 | 1060 |
| PERSISTENT | 5744 | 5600 |
| PETRONET | 320.8 | 328 |
| PFC | 450 | 460 |
| PIDILITIND | 2987.95 | 3080 |
| PIIND | 4132.3 | 4200 |
| PNB | 97.03 | 102 |
| POLYCAB | 6479.15 | 6500 |
| POWERGRID | 321.3 | 320 |
| PVRINOX | 1453.35 | 1500 |
| RAMCOCEM | 914.7 | 890 |
| RBLBANK | 158.25 | 160 |
| RECLTD | 492.3 | 510 |
| RELIANCE | 1224 | 1290 |
| SAIL | 111.55 | 115 |
| SBICARD | 675.65 | 690 |
| SBILIFE | 1480.6 | 1540 |
| SBIN | 776.95 | 800 |
| SHREECEM | 24259.4 | 24250 |
| SHRIRAMFIN | 2794.2 | 2900 |
| SIEMENS | 6699.25 | 6800 |
| SRF | 2164.5 | 2260 |
| SUNPHARMA | 1778 | 1800 |
| SUNTV | 728.85 | 730 |
| SYNGENE | 850.8 | 860 |
| TATACHEM | 1056 | 1100 |
| TATACOMM | 1714.8 | 1780 |
| TATACONSUM | 914.8 | 950 |
| TATAMOTORS | 782.25 | 800 |
| TATAPOWER | 408.75 | 420 |
| TATASTEEL | 140.83 | 145 |
| TCS | 4044 | 4100 |
| TECHM | 1686.15 | 1680 |
| TITAN | 3158.8 | 3200 |
| TORNTPHARM | 3097.8 | 3150 |
| TRENT | 6451.95 | 6600 |
| TVSMOTOR | 2411.4 | 2450 |
| UBL | 1824.7 | 1880 |
| ULTRACEMCO | 10842.45 | 11000 |
| UNITDSPR | 1488.6 | 1460 |
| UPL | 555.7 | 540 |
| VEDL | 443.75 | 460 |
| VOLTAS | 1689.2 | 1700 |
| WIPRO | 557.8 | 560 |
| ZYDUSLIFE | 943.75 | 960 |
Note:
| Stock LTP > Max Pain | Bearish Trend |
| Stock LTP < Max Pain | Bullish Trend |
What is Max Pain?
Max pain, or the max pain price, is the strike price with the most open contract puts and calls - and the price at which the stock would cause financial losses for the largest number of option holders at expiration.
Calculating Max Pain
Max pain is a simple but time consuming calculation. Essentially, it is the sum of the outstanding put and call dollar value of each in-the-money strike price. For each in-the-money strike price for both puts and calls:
- Find the difference between stock price and strike price
- Multiply the result by open interest at that strike
- Add together the dollar value for the put and call at that strike
- Repeat for each strike price
- Find the highest value strike price. This price is equivalent to max pain price.
How can a trader benefit?
As the option expiration approaches, option writers will try to buy or sell shares of stock to drive the price toward a closing price that is profitable for them, or at least to hedge their payouts to option holders. Call writers sell shares to drive share price down and Put holders buy shares to drive share price up. The max pain strike price exists somewhere in the middle.
