How is Max Pain Calculated?

Max Pain is calculated by determining the total dollar value of in-the-money options at each strike price. For each strike price: Calculate the difference between the current stock price and the strike price. Multiply this difference by the open interest (number of contracts) at that strike for both call and put options. Sum the values: Add together the dollar value for put options and call options at each strike price. Repeat for all strikes: Perform this calculation for every available strike price in the option chain. 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.

How Can Traders Use Max Pain in Their Strategy?

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.

What Does Max Pain Indicate About Stock Price Movement?

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.

How Often Does Max Pain Change?

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.

What's the Difference Between Max Pain and Spot Price?

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.

Is Max Pain Always Accurate for Predicting Stock Price?

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.

When is Max Pain Most Relevant for Options Trading?

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.

SAIL

Q: What is Max Pain in Options Trading?

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.

Steel Authority Of India

125.22 -2.05 (-1.61%)

L: 125.08 H: 127.74

Max Pain - SAIL

19 Dec 2025 09:51 AM IST

Live

Expiry

Max Pain for SAIL is 131

Historical data for SAIL-131-CE

LTP (131 CE)

0.73 -0.41

Open Interest

223 24

Historical data for SAIL-131-PE

LTP (131 PE)

6.2 1.56

Open Interest

120 0

Strike 108 has a total call value of 0 versus a total put value of 60,410,980,000 Combined total value = 60,410,980,000

Strike 109 has a total call value of 0 versus a total put value of 57,652,080,000 Combined total value = 57,652,080,000

Strike 110 has a total call value of 0 versus a total put value of 54,893,180,000 Combined total value = 54,893,180,000

Strike 111 has a total call value of 0 versus a total put value of 52,134,280,000 Combined total value = 52,134,280,000

Strike 112 has a total call value of 0 versus a total put value of 49,375,380,000 Combined total value = 49,375,380,000

Strike 113 has a total call value of 1,880,000 versus a total put value of 46,651,260,000 Combined total value = 46,653,140,000

Strike 114 has a total call value of 3,760,000 versus a total put value of 43,927,140,000 Combined total value = 43,930,900,000

Strike 115 has a total call value of 6,110,000 versus a total put value of 41,203,020,000 Combined total value = 41,209,130,000

Strike 116 has a total call value of 8,460,000 versus a total put value of 38,478,900,000 Combined total value = 38,487,360,000

Strike 117 has a total call value of 11,280,000 versus a total put value of 35,790,030,000 Combined total value = 35,801,310,000

Strike 118 has a total call value of 14,100,000 versus a total put value of 33,101,160,000 Combined total value = 33,115,260,000

Strike 119 has a total call value of 21,620,000 versus a total put value of 30,469,630,000 Combined total value = 30,491,250,000

Strike 120 has a total call value of 29,140,000 versus a total put value of 27,838,100,000 Combined total value = 27,867,240,000

Strike 121 has a total call value of 70,500,000 versus a total put value of 25,474,470,000 Combined total value = 25,544,970,000

Strike 122 has a total call value of 111,860,000 versus a total put value of 23,110,840,000 Combined total value = 23,222,700,000

Strike 123 has a total call value of 153,220,000 versus a total put value of 20,908,420,000 Combined total value = 21,061,640,000

Strike 124 has a total call value of 198,340,000 versus a total put value of 18,706,000,000 Combined total value = 18,904,340,000

Strike 125 has a total call value of 246,280,000 versus a total put value of 16,541,180,000 Combined total value = 16,787,460,000

Strike 126 has a total call value of 367,540,000 versus a total put value of 14,765,520,000 Combined total value = 15,133,060,000

Strike 127 has a total call value of 536,270,000 versus a total put value of 13,026,050,000 Combined total value = 13,562,320,000

Strike 128 has a total call value of 795,240,000 versus a total put value of 11,355,670,000 Combined total value = 12,150,910,000

Strike 129 has a total call value of 1,186,750,000 versus a total put value of 9,772,710,000 Combined total value = 10,959,460,000

Strike 130 has a total call value of 1,706,570,000 versus a total put value of 8,279,990,000 Combined total value = 9,986,560,000

Strike 131 has a total call value of 2,782,870,000 versus a total put value of 7,192,410,000 Combined total value = 9,975,280,000

Strike 132 has a total call value of 3,963,980,000 versus a total put value of 6,161,230,000 Combined total value = 10,125,210,000

Strike 133 has a total call value of 5,384,320,000 versus a total put value of 5,232,040,000 Combined total value = 10,616,360,000

Strike 134 has a total call value of 6,955,530,000 versus a total put value of 4,337,630,000 Combined total value = 11,293,160,000

Strike 135 has a total call value of 8,604,760,000 versus a total put value of 3,478,000,000 Combined total value = 12,082,760,000

Strike 136 has a total call value of 11,217,960,000 versus a total put value of 2,838,800,000 Combined total value = 14,056,760,000

Strike 137 has a total call value of 13,945,840,000 versus a total put value of 2,240,960,000 Combined total value = 16,186,800,000

Strike 138 has a total call value of 16,821,300,000 versus a total put value of 1,720,670,000 Combined total value = 18,541,970,000

Strike 139 has a total call value of 19,835,410,000 versus a total put value of 1,240,800,000 Combined total value = 21,076,210,000

Strike 140 has a total call value of 22,947,280,000 versus a total put value of 779,730,000 Combined total value = 23,727,010,000

Strike 141 has a total call value of 26,968,600,000 versus a total put value of 568,230,000 Combined total value = 27,536,830,000

Strike 142 has a total call value of 31,088,150,000 versus a total put value of 434,750,000 Combined total value = 31,522,900,000

Strike 143 has a total call value of 35,293,710,000 versus a total put value of 321,480,000 Combined total value = 35,615,190,000

Strike 144 has a total call value of 39,542,510,000 versus a total put value of 208,210,000 Combined total value = 39,750,720,000

Strike 145 has a total call value of 43,832,200,000 versus a total put value of 116,560,000 Combined total value = 43,948,760,000

Strike 146 has a total call value of 48,374,280,000 versus a total put value of 86,950,000 Combined total value = 48,461,230,000

Strike 147 has a total call value of 52,953,020,000 versus a total put value of 57,340,000 Combined total value = 53,010,360,000

Strike 148 has a total call value of 57,553,380,000 versus a total put value of 38,540,000 Combined total value = 57,591,920,000

Strike 149 has a total call value of 62,178,180,000 versus a total put value of 19,740,000 Combined total value = 62,197,920,000

Strike 150 has a total call value of 66,813,790,000 versus a total put value of 940,000 Combined total value = 66,814,730,000

Strike 151 has a total call value of 71,703,670,000 versus a total put value of 470,000 Combined total value = 71,704,140,000

Strike 152 has a total call value of 76,603,420,000 versus a total put value of 0 Combined total value = 76,603,420,000

Strike 153 has a total call value of 81,547,820,000 versus a total put value of 0 Combined total value = 81,547,820,000

Strike 154 has a total call value of 86,501,150,000 versus a total put value of 0 Combined total value = 86,501,150,000

Strike 155 has a total call value of 91,474,690,000 versus a total put value of 0 Combined total value = 91,474,690,000

Strike 156 has a total call value of 96,550,220,000 versus a total put value of 0 Combined total value = 96,550,220,000

Strike 157 has a total call value of 101,671,340,000 versus a total put value of 0 Combined total value = 101,671,340,000

Strike 158 has a total call value of 106,792,930,000 versus a total put value of 0 Combined total value = 106,792,930,000

Strike 159 has a total call value of 111,914,520,000 versus a total put value of 0 Combined total value = 111,914,520,000

Strike 160 has a total call value of 117,036,110,000 versus a total put value of 0 Combined total value = 117,036,110,000

Strike 161 has a total call value of 122,242,300,000 versus a total put value of 0 Combined total value = 122,242,300,000

Strike 162 has a total call value of 127,448,490,000 versus a total put value of 0 Combined total value = 127,448,490,000

Strike 163 has a total call value of 132,704,030,000 versus a total put value of 0 Combined total value = 132,704,030,000

Strike 164 has a total call value of 137,959,570,000 versus a total put value of 0 Combined total value = 137,959,570,000

Max-Pain Table for Stocks

Max-Pain Table Expiry

Note:- click on symbol to see more detailed view

Max Pain Table (Stocks)
Symbol	Symbol Ltp	Max Pain
360ONE	1139.4	1140
ABB	5150	5200
ABCAPITAL	345.4	345
ADANIENSOL	977.45	980
ADANIENT	2235	2300
ADANIGREEN	1015.3	1020
ADANIPORTS	1500	1500
ALKEM	5543.5	5650
AMBER	6659.5	6800
AMBUJACEM	537.2	550
ANGELONE	2474.8	2550
APLAPOLLO	1806.6	1760
APOLLOHOSP	6962	7100
ASHOKLEY	172.25	162
ASIANPAINT	2771.6	2800
ASTRAL	1414.2	1440
AUBANK	984.95	960
AUROPHARMA	1230	1220
AXISBANK	1237	1240
BAJAJ-AUTO	8886	9000
BAJAJFINSV	2054.9	2060
BAJFINANCE	1011.8	1020
BANDHANBNK	149.17	152.5
BANKBARODA	289.1	290
BANKINDIA	142.31	143
BDL	1352.4	1400
BEL	390.15	400
BHARATFORG	1421.2	1400
BHARTIARTL	2098.5	2100
BHEL	275.4	280
BIOCON	400.2	395
BLUESTARCO	1848.3	1800
BOSCHLTD	35745	36000
BPCL	365.6	365
BRITANNIA	6012	6000
BSE	2724	2700
CAMS	757.7	770
CANBK	149.24	150
CDSL	1496.6	1540
CGPOWER	666.6	680
CHOLAFIN	1681.5	1700
CIPLA	1508.5	1520
COALINDIA	385.7	385
COFORGE	1850.2	1840
COLPAL	2086.2	2160
CONCOR	499	520
CROMPTON	253.3	265
CUMMINSIND	4396.5	4450
CYIENT	1145.8	1140
DABUR	493.45	500
DALBHARAT	2024.8	2040
DELHIVERY	400.55	410
DIVISLAB	6586	6500
DIXON	13297	13500
DLF	685.95	710
DMART	3772.7	3900
DRREDDY	1287.3	1270
EICHERMOT	7202.5	7100
ETERNAL	287.8	295
EXIDEIND	360.8	370
FEDERALBNK	266.5	260
FORTIS	879.5	890
GAIL	168.52	175
GLENMARK	1986	1940
GMRAIRPORT	101.62	102
GODREJCP	1184.9	1160
GODREJPROP	2021.1	2060
GRASIM	2818.4	2800
HAL	4288.7	4500
HAVELLS	1409	1440
HCLTECH	1655	1660
HDFCAMC	2684	2700
HDFCBANK	984.3	990
HDFCLIFE	756.1	770
HEROMOTOCO	5738.5	5900
HFCL	64.63	67
HINDALCO	860.35	820
HINDPETRO	463.95	460
HINDUNILVR	2275	2300
HINDZINC	578.4	555
HUDCO	208.11	217.5
ICICIBANK	1356.7	1370
ICICIGI	1949.2	1960
ICICIPRULI	649.2	630
IDEA	11.62	11
IDFCFIRSTB	83.75	82
IEX	139.95	145
IIFL	564.1	560
INDHOTEL	729.4	730
INDIANB	777.5	820
INDIGO	5123.5	5100
INDUSINDBK	833.8	850
INDUSTOWER	411.6	410
INFY	1647.2	1600
INOXWIND	124.64	130
IOC	161.35	161
IRCTC	668.5	690
IREDA	131.77	137.5
IRFC	111.24	115
ITC	401.35	405
JINDALSTEL	991.5	1020
JIOFIN	296.1	305
JSWENERGY	472.7	490
JSWSTEEL	1083.5	1120
JUBLFOOD	559.05	580
KALYANKJIL	474.9	480
KAYNES	4065	4300
KEI	4174	4100
KFINTECH	1071.3	1080
KOTAKBANK	2168.2	2160
KPITTECH	1167	1200
LAURUSLABS	1043.7	1000
LICHSGFIN	529.15	550
LICI	848.75	870
LODHA	1084.5	1100
LT	4064.9	4040
LTF	300.3	300
LTIM	6055	6100
LUPIN	2138.5	2100
M&M	3586.3	3650
MANAPPURAM	284.95	280
MANKIND	2156.6	2200
MARICO	735.3	730
MARUTI	16397	16300
MAXHEALTH	1070.8	1080
MAZDOCK	2391.4	2500
MCX	10329	10100
MFSL	1677.5	1700
MOTHERSON	119.83	116
MPHASIS	2875.5	2900
MUTHOOTFIN	3726.5	3750
NATIONALUM	280.15	270
NAUKRI	1329.9	1360
NBCC	109.71	111
NCC	153.48	165
NESTLEIND	1236.6	1240
NHPC	75.23	78
NMDC	76.11	77
NTPC	318.8	325
NUVAMA	7177	7300
NYKAA	244.45	250
OBEROIRLTY	1672.1	1660
OFSS	7676	8000
OIL	401.05	410
ONGC	232.49	237.5
PAGEIND	35760	37000
PATANJALI	554.75	550
PAYTM	1308	1300
PERSISTENT	6310	6300
PETRONET	269.45	278
PFC	337.6	355
PGEL	571.2	560
PHOENIXLTD	1806.9	1760
PIDILITIND	1451.3	1480
PIIND	3213.2	3350
PNB	119	120
PNBHOUSING	902.2	900
POLICYBZR	1831.1	1840
POLYCAB	7309.5	7200
POWERGRID	260.25	270
POWERINDIA	18235	19000
PPLPHARMA	168.82	175
PRESTIGE	1617.3	1640
RBLBANK	299.15	305
RECLTD	339.9	355
RELIANCE	1563.3	1550
RVNL	310.15	310
SAIL	125.22	131
SAMMAANCAP	145.22	152.5
SBICARD	853.2	870
SBILIFE	2015.2	2020
SBIN	979.95	970
SHREECEM	25555	26250
SHRIRAMFIN	859.1	850
SIEMENS	3098.1	3150
SOLARINDS	11757	12500
SONACOMS	491	500
SRF	3050.6	3000
SUNPHARMA	1752.4	1760
SUPREMEIND	3357.2	3400
SUZLON	51.85	54
SYNGENE	658.9	650
TATACONSUM	1174.6	1170
TATAELXSI	5161	5100
TATAMOTORS	0	320
TATAPOWER	376.3	390
TATASTEEL	168.83	170
TATATECH	646.1	670
TCS	3304.1	3220
TECHM	1601.2	1560
TIINDIA	2602.9	2700
TITAGARH	773.15	800
TITAN	3927.8	3880
TMPV	352.1	360
TORNTPHARM	3771.3	3750
TORNTPOWER	1262	1300
TRENT	4050.6	4200
TVSMOTOR	3620	3600
ULTRACEMCO	11492	11600
UNIONBANK	154.01	155
UNITDSPR	1399.1	1430
UNOMINDA	1236.9	1280
UPL	745.2	750
VBL	475.25	470
VEDL	574	555
VOLTAS	1409.4	1400
WIPRO	264.88	260
YESBANK	21.57	22
ZYDUSLIFE	922.3	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:

For each strike price: Calculate the difference between the current stock price and the strike price.
Multiply by Open Interest: Multiply this difference by the open interest (number of contracts) at that strike for both call and put options.
Sum the values: Add together the dollar value for put options and call options at each strike price.
Repeat for all strikes: Perform this calculation for every available strike price in the option chain.
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.

Related Pages for SAIL

SAIL

360ONE

ABB

ABCAPITAL

ADANIENSOL

ADANIENT

ADANIGREEN

ADANIPORTS

ALKEM

AMBER

AMBUJACEM

ANGELONE

APLAPOLLO

APOLLOHOSP

ASHOKLEY

ASIANPAINT

ASTRAL

AUBANK

AUROPHARMA

AXISBANK

BAJAJ-AUTO

BAJAJFINSV

BAJFINANCE

BANDHANBNK

BANKBARODA

BANKEX

BANKINDIA

BANKNIFTY

BDL

BEL

BHARATFORG

BHARTIARTL

BHEL

BIOCON

BLUESTARCO

BOSCHLTD

BPCL

BRITANNIA

BSE

CAMS

CANBK

CDSL

CGPOWER

CHOLAFIN

CIPLA

COALINDIA

COFORGE

COLPAL

CONCOR

COPPER

CROMPTON

CRUDEOIL

CRUDEOILM

CUMMINSIND

CYIENT

DABUR

DALBHARAT

DELHIVERY

DIVISLAB

DIXON

DLF

DMART

DRREDDY

EICHERMOT

ETERNAL

EURINR

EURUSD

EXIDEIND

FEDERALBNK

FINNIFTY

FORTIS

GAIL

GBPINR

GBPUSD

GLENMARK

GMRAIRPORT

GODREJCP

GODREJPROP

GOLD