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.

SILVER

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.

Silver

207531 +3966.00 (1.95%)

L: 202656 H: 207980

Max Pain - SILVER

19 Dec 2025 10:10 PM IST

Live

Expiry

Max Pain for SILVER is 205000

Historical data for SILVER-205000-CE

LTP (205000 CE)

5450 1273

Open Interest

1790 318

Historical data for SILVER-205000-PE

LTP (205000 PE)

2894 -2582.5

Open Interest

1217 158

Strike 140000 has a total call value of 0 versus a total put value of 1,697,574,000,000 Combined total value = 1,697,574,000,000

Strike 140250 has a total call value of 0 versus a total put value of 1,687,590,750,000 Combined total value = 1,687,590,750,000

Strike 140500 has a total call value of 0 versus a total put value of 1,677,607,500,000 Combined total value = 1,677,607,500,000

Strike 140750 has a total call value of 0 versus a total put value of 1,667,624,250,000 Combined total value = 1,667,624,250,000

Strike 141000 has a total call value of 0 versus a total put value of 1,657,641,000,000 Combined total value = 1,657,641,000,000

Strike 141250 has a total call value of 0 versus a total put value of 1,647,657,750,000 Combined total value = 1,647,657,750,000

Strike 141500 has a total call value of 0 versus a total put value of 1,637,674,500,000 Combined total value = 1,637,674,500,000

Strike 141750 has a total call value of 0 versus a total put value of 1,627,691,250,000 Combined total value = 1,627,691,250,000

Strike 142000 has a total call value of 0 versus a total put value of 1,617,708,000,000 Combined total value = 1,617,708,000,000

Strike 142250 has a total call value of 0 versus a total put value of 1,607,724,750,000 Combined total value = 1,607,724,750,000

Strike 142500 has a total call value of 0 versus a total put value of 1,597,741,500,000 Combined total value = 1,597,741,500,000

Strike 142750 has a total call value of 0 versus a total put value of 1,587,758,250,000 Combined total value = 1,587,758,250,000

Strike 143000 has a total call value of 0 versus a total put value of 1,577,775,000,000 Combined total value = 1,577,775,000,000

Strike 143250 has a total call value of 0 versus a total put value of 1,567,791,750,000 Combined total value = 1,567,791,750,000

Strike 143500 has a total call value of 0 versus a total put value of 1,557,808,500,000 Combined total value = 1,557,808,500,000

Strike 143750 has a total call value of 0 versus a total put value of 1,547,825,250,000 Combined total value = 1,547,825,250,000

Strike 144000 has a total call value of 0 versus a total put value of 1,537,842,000,000 Combined total value = 1,537,842,000,000

Strike 144250 has a total call value of 0 versus a total put value of 1,527,858,750,000 Combined total value = 1,527,858,750,000

Strike 144500 has a total call value of 0 versus a total put value of 1,517,875,500,000 Combined total value = 1,517,875,500,000

Strike 144750 has a total call value of 0 versus a total put value of 1,507,892,250,000 Combined total value = 1,507,892,250,000

Strike 145000 has a total call value of 0 versus a total put value of 1,497,909,000,000 Combined total value = 1,497,909,000,000

Strike 145250 has a total call value of 0 versus a total put value of 1,487,925,750,000 Combined total value = 1,487,925,750,000

Strike 145500 has a total call value of 0 versus a total put value of 1,477,942,500,000 Combined total value = 1,477,942,500,000

Strike 145750 has a total call value of 0 versus a total put value of 1,467,959,250,000 Combined total value = 1,467,959,250,000

Strike 146000 has a total call value of 0 versus a total put value of 1,457,976,000,000 Combined total value = 1,457,976,000,000

Strike 146250 has a total call value of 0 versus a total put value of 1,447,992,750,000 Combined total value = 1,447,992,750,000

Strike 146500 has a total call value of 0 versus a total put value of 1,438,009,500,000 Combined total value = 1,438,009,500,000

Strike 146750 has a total call value of 0 versus a total put value of 1,428,026,250,000 Combined total value = 1,428,026,250,000

Strike 147000 has a total call value of 0 versus a total put value of 1,418,043,000,000 Combined total value = 1,418,043,000,000

Strike 147250 has a total call value of 0 versus a total put value of 1,408,059,750,000 Combined total value = 1,408,059,750,000

Strike 147500 has a total call value of 0 versus a total put value of 1,398,076,500,000 Combined total value = 1,398,076,500,000

Strike 147750 has a total call value of 0 versus a total put value of 1,388,093,250,000 Combined total value = 1,388,093,250,000

Strike 148000 has a total call value of 0 versus a total put value of 1,378,110,000,000 Combined total value = 1,378,110,000,000

Strike 148250 has a total call value of 0 versus a total put value of 1,368,126,750,000 Combined total value = 1,368,126,750,000

Strike 148500 has a total call value of 0 versus a total put value of 1,358,143,500,000 Combined total value = 1,358,143,500,000

Strike 148750 has a total call value of 0 versus a total put value of 1,348,160,250,000 Combined total value = 1,348,160,250,000

Strike 149000 has a total call value of 0 versus a total put value of 1,338,177,000,000 Combined total value = 1,338,177,000,000

Strike 149250 has a total call value of 0 versus a total put value of 1,328,193,750,000 Combined total value = 1,328,193,750,000

Strike 149500 has a total call value of 0 versus a total put value of 1,318,210,500,000 Combined total value = 1,318,210,500,000

Strike 149750 has a total call value of 0 versus a total put value of 1,308,227,250,000 Combined total value = 1,308,227,250,000

Strike 150000 has a total call value of 0 versus a total put value of 1,298,244,000,000 Combined total value = 1,298,244,000,000

Strike 150250 has a total call value of 0 versus a total put value of 1,289,187,750,000 Combined total value = 1,289,187,750,000

Strike 150500 has a total call value of 0 versus a total put value of 1,280,131,500,000 Combined total value = 1,280,131,500,000

Strike 150750 has a total call value of 0 versus a total put value of 1,271,075,250,000 Combined total value = 1,271,075,250,000

Strike 151000 has a total call value of 0 versus a total put value of 1,262,019,000,000 Combined total value = 1,262,019,000,000

Strike 151250 has a total call value of 0 versus a total put value of 1,252,962,750,000 Combined total value = 1,252,962,750,000

Strike 151500 has a total call value of 0 versus a total put value of 1,243,906,500,000 Combined total value = 1,243,906,500,000

Strike 151750 has a total call value of 0 versus a total put value of 1,234,850,250,000 Combined total value = 1,234,850,250,000

Strike 152000 has a total call value of 0 versus a total put value of 1,225,794,000,000 Combined total value = 1,225,794,000,000

Strike 152250 has a total call value of 0 versus a total put value of 1,216,737,750,000 Combined total value = 1,216,737,750,000

Strike 152500 has a total call value of 0 versus a total put value of 1,207,681,500,000 Combined total value = 1,207,681,500,000

Strike 152750 has a total call value of 0 versus a total put value of 1,198,625,250,000 Combined total value = 1,198,625,250,000

Strike 153000 has a total call value of 0 versus a total put value of 1,189,569,000,000 Combined total value = 1,189,569,000,000

Strike 153250 has a total call value of 0 versus a total put value of 1,180,512,750,000 Combined total value = 1,180,512,750,000

Strike 153500 has a total call value of 0 versus a total put value of 1,171,456,500,000 Combined total value = 1,171,456,500,000

Strike 153750 has a total call value of 0 versus a total put value of 1,162,400,250,000 Combined total value = 1,162,400,250,000

Strike 154000 has a total call value of 0 versus a total put value of 1,153,344,000,000 Combined total value = 1,153,344,000,000

Strike 154250 has a total call value of 0 versus a total put value of 1,144,287,750,000 Combined total value = 1,144,287,750,000

Strike 154500 has a total call value of 0 versus a total put value of 1,135,231,500,000 Combined total value = 1,135,231,500,000

Strike 154750 has a total call value of 0 versus a total put value of 1,126,175,250,000 Combined total value = 1,126,175,250,000

Strike 155000 has a total call value of 0 versus a total put value of 1,117,119,000,000 Combined total value = 1,117,119,000,000

Strike 155250 has a total call value of 0 versus a total put value of 1,108,338,000,000 Combined total value = 1,108,338,000,000

Strike 155500 has a total call value of 0 versus a total put value of 1,099,557,000,000 Combined total value = 1,099,557,000,000

Strike 155750 has a total call value of 0 versus a total put value of 1,090,776,000,000 Combined total value = 1,090,776,000,000

Strike 156000 has a total call value of 0 versus a total put value of 1,081,995,000,000 Combined total value = 1,081,995,000,000

Strike 156250 has a total call value of 0 versus a total put value of 1,073,214,000,000 Combined total value = 1,073,214,000,000

Strike 156500 has a total call value of 0 versus a total put value of 1,064,433,000,000 Combined total value = 1,064,433,000,000

Strike 156750 has a total call value of 0 versus a total put value of 1,055,652,000,000 Combined total value = 1,055,652,000,000

Strike 157000 has a total call value of 0 versus a total put value of 1,046,871,000,000 Combined total value = 1,046,871,000,000

Strike 157250 has a total call value of 0 versus a total put value of 1,038,090,000,000 Combined total value = 1,038,090,000,000

Strike 157500 has a total call value of 0 versus a total put value of 1,029,309,000,000 Combined total value = 1,029,309,000,000

Strike 157750 has a total call value of 0 versus a total put value of 1,020,528,000,000 Combined total value = 1,020,528,000,000

Strike 158000 has a total call value of 0 versus a total put value of 1,011,747,000,000 Combined total value = 1,011,747,000,000

Strike 158250 has a total call value of 0 versus a total put value of 1,002,966,000,000 Combined total value = 1,002,966,000,000

Strike 158500 has a total call value of 0 versus a total put value of 994,185,000,000 Combined total value = 994,185,000,000

Strike 158750 has a total call value of 0 versus a total put value of 985,404,000,000 Combined total value = 985,404,000,000

Strike 159000 has a total call value of 0 versus a total put value of 976,623,000,000 Combined total value = 976,623,000,000

Strike 159250 has a total call value of 0 versus a total put value of 967,842,000,000 Combined total value = 967,842,000,000

Strike 159500 has a total call value of 0 versus a total put value of 959,061,000,000 Combined total value = 959,061,000,000

Strike 159750 has a total call value of 0 versus a total put value of 950,280,000,000 Combined total value = 950,280,000,000

Strike 160000 has a total call value of 0 versus a total put value of 941,499,000,000 Combined total value = 941,499,000,000

Strike 160250 has a total call value of 0 versus a total put value of 933,382,500,000 Combined total value = 933,382,500,000

Strike 160500 has a total call value of 0 versus a total put value of 925,266,000,000 Combined total value = 925,266,000,000

Strike 160750 has a total call value of 0 versus a total put value of 917,149,500,000 Combined total value = 917,149,500,000

Strike 161000 has a total call value of 0 versus a total put value of 909,033,000,000 Combined total value = 909,033,000,000

Strike 161250 has a total call value of 0 versus a total put value of 900,916,500,000 Combined total value = 900,916,500,000

Strike 161500 has a total call value of 0 versus a total put value of 892,800,000,000 Combined total value = 892,800,000,000

Strike 161750 has a total call value of 0 versus a total put value of 884,683,500,000 Combined total value = 884,683,500,000

Strike 162000 has a total call value of 0 versus a total put value of 876,567,000,000 Combined total value = 876,567,000,000

Strike 162250 has a total call value of 0 versus a total put value of 868,450,500,000 Combined total value = 868,450,500,000

Strike 162500 has a total call value of 0 versus a total put value of 860,334,000,000 Combined total value = 860,334,000,000

Strike 162750 has a total call value of 0 versus a total put value of 852,217,500,000 Combined total value = 852,217,500,000

Strike 163000 has a total call value of 0 versus a total put value of 844,101,000,000 Combined total value = 844,101,000,000

Strike 163250 has a total call value of 0 versus a total put value of 835,984,500,000 Combined total value = 835,984,500,000

Strike 163500 has a total call value of 0 versus a total put value of 827,868,000,000 Combined total value = 827,868,000,000

Strike 163750 has a total call value of 0 versus a total put value of 819,751,500,000 Combined total value = 819,751,500,000

Strike 164000 has a total call value of 0 versus a total put value of 811,635,000,000 Combined total value = 811,635,000,000

Strike 164250 has a total call value of 0 versus a total put value of 803,518,500,000 Combined total value = 803,518,500,000

Strike 164500 has a total call value of 0 versus a total put value of 795,402,000,000 Combined total value = 795,402,000,000

Strike 164750 has a total call value of 0 versus a total put value of 787,285,500,000 Combined total value = 787,285,500,000

Strike 165000 has a total call value of 0 versus a total put value of 779,169,000,000 Combined total value = 779,169,000,000

Strike 165250 has a total call value of 0 versus a total put value of 771,378,750,000 Combined total value = 771,378,750,000

Strike 165500 has a total call value of 0 versus a total put value of 763,588,500,000 Combined total value = 763,588,500,000

Strike 165750 has a total call value of 0 versus a total put value of 755,798,250,000 Combined total value = 755,798,250,000

Strike 166000 has a total call value of 0 versus a total put value of 748,008,000,000 Combined total value = 748,008,000,000

Strike 166250 has a total call value of 0 versus a total put value of 740,217,750,000 Combined total value = 740,217,750,000

Strike 166500 has a total call value of 0 versus a total put value of 732,427,500,000 Combined total value = 732,427,500,000

Strike 166750 has a total call value of 0 versus a total put value of 724,637,250,000 Combined total value = 724,637,250,000

Strike 167000 has a total call value of 0 versus a total put value of 716,847,000,000 Combined total value = 716,847,000,000

Strike 167250 has a total call value of 0 versus a total put value of 709,056,750,000 Combined total value = 709,056,750,000

Strike 167500 has a total call value of 0 versus a total put value of 701,266,500,000 Combined total value = 701,266,500,000

Strike 167750 has a total call value of 0 versus a total put value of 693,476,250,000 Combined total value = 693,476,250,000

Strike 168000 has a total call value of 0 versus a total put value of 685,686,000,000 Combined total value = 685,686,000,000

Strike 168250 has a total call value of 0 versus a total put value of 677,895,750,000 Combined total value = 677,895,750,000

Strike 168500 has a total call value of 0 versus a total put value of 670,105,500,000 Combined total value = 670,105,500,000

Strike 168750 has a total call value of 0 versus a total put value of 662,315,250,000 Combined total value = 662,315,250,000

Strike 169000 has a total call value of 0 versus a total put value of 654,525,000,000 Combined total value = 654,525,000,000

Strike 169250 has a total call value of 0 versus a total put value of 646,734,750,000 Combined total value = 646,734,750,000

Strike 169500 has a total call value of 0 versus a total put value of 638,944,500,000 Combined total value = 638,944,500,000

Strike 169750 has a total call value of 0 versus a total put value of 631,154,250,000 Combined total value = 631,154,250,000

Strike 170000 has a total call value of 0 versus a total put value of 623,364,000,000 Combined total value = 623,364,000,000

Strike 170250 has a total call value of 0 versus a total put value of 616,392,000,000 Combined total value = 616,392,000,000

Strike 170500 has a total call value of 0 versus a total put value of 609,420,000,000 Combined total value = 609,420,000,000

Strike 170750 has a total call value of 0 versus a total put value of 602,448,000,000 Combined total value = 602,448,000,000

Strike 171000 has a total call value of 0 versus a total put value of 595,476,000,000 Combined total value = 595,476,000,000

Strike 171250 has a total call value of 0 versus a total put value of 588,504,000,000 Combined total value = 588,504,000,000

Strike 171500 has a total call value of 0 versus a total put value of 581,532,000,000 Combined total value = 581,532,000,000

Strike 171750 has a total call value of 0 versus a total put value of 574,560,000,000 Combined total value = 574,560,000,000

Strike 172000 has a total call value of 0 versus a total put value of 567,588,000,000 Combined total value = 567,588,000,000

Strike 172250 has a total call value of 0 versus a total put value of 560,616,000,000 Combined total value = 560,616,000,000

Strike 172500 has a total call value of 0 versus a total put value of 553,644,000,000 Combined total value = 553,644,000,000

Strike 172750 has a total call value of 0 versus a total put value of 546,672,000,000 Combined total value = 546,672,000,000

Strike 173000 has a total call value of 0 versus a total put value of 539,700,000,000 Combined total value = 539,700,000,000

Strike 173250 has a total call value of 0 versus a total put value of 532,728,000,000 Combined total value = 532,728,000,000

Strike 173500 has a total call value of 0 versus a total put value of 525,756,000,000 Combined total value = 525,756,000,000

Strike 173750 has a total call value of 0 versus a total put value of 518,784,000,000 Combined total value = 518,784,000,000

Strike 174000 has a total call value of 0 versus a total put value of 511,812,000,000 Combined total value = 511,812,000,000

Strike 174250 has a total call value of 0 versus a total put value of 504,881,250,000 Combined total value = 504,881,250,000

Strike 174500 has a total call value of 0 versus a total put value of 497,950,500,000 Combined total value = 497,950,500,000

Strike 174750 has a total call value of 0 versus a total put value of 491,019,750,000 Combined total value = 491,019,750,000

Strike 175000 has a total call value of 0 versus a total put value of 484,089,000,000 Combined total value = 484,089,000,000

Strike 175250 has a total call value of 0 versus a total put value of 477,793,500,000 Combined total value = 477,793,500,000

Strike 175500 has a total call value of 0 versus a total put value of 471,498,000,000 Combined total value = 471,498,000,000

Strike 175750 has a total call value of 0 versus a total put value of 465,202,500,000 Combined total value = 465,202,500,000

Strike 176000 has a total call value of 0 versus a total put value of 458,907,000,000 Combined total value = 458,907,000,000

Strike 176250 has a total call value of 0 versus a total put value of 452,611,500,000 Combined total value = 452,611,500,000

Strike 176500 has a total call value of 0 versus a total put value of 446,316,000,000 Combined total value = 446,316,000,000

Strike 176750 has a total call value of 0 versus a total put value of 440,020,500,000 Combined total value = 440,020,500,000

Strike 177000 has a total call value of 0 versus a total put value of 433,725,000,000 Combined total value = 433,725,000,000

Strike 177250 has a total call value of 0 versus a total put value of 427,429,500,000 Combined total value = 427,429,500,000

Strike 177500 has a total call value of 0 versus a total put value of 421,134,000,000 Combined total value = 421,134,000,000

Strike 177750 has a total call value of 0 versus a total put value of 414,838,500,000 Combined total value = 414,838,500,000

Strike 178000 has a total call value of 0 versus a total put value of 408,543,000,000 Combined total value = 408,543,000,000

Strike 178250 has a total call value of 0 versus a total put value of 402,247,500,000 Combined total value = 402,247,500,000

Strike 178500 has a total call value of 0 versus a total put value of 395,952,000,000 Combined total value = 395,952,000,000

Strike 178750 has a total call value of 0 versus a total put value of 389,656,500,000 Combined total value = 389,656,500,000

Strike 179000 has a total call value of 0 versus a total put value of 383,361,000,000 Combined total value = 383,361,000,000

Strike 179250 has a total call value of 0 versus a total put value of 377,065,500,000 Combined total value = 377,065,500,000

Strike 179500 has a total call value of 0 versus a total put value of 370,770,000,000 Combined total value = 370,770,000,000

Strike 179750 has a total call value of 0 versus a total put value of 364,474,500,000 Combined total value = 364,474,500,000

Strike 180000 has a total call value of 0 versus a total put value of 358,179,000,000 Combined total value = 358,179,000,000

Strike 180250 has a total call value of 0 versus a total put value of 352,698,750,000 Combined total value = 352,698,750,000

Strike 180500 has a total call value of 0 versus a total put value of 347,218,500,000 Combined total value = 347,218,500,000

Strike 180750 has a total call value of 0 versus a total put value of 341,738,250,000 Combined total value = 341,738,250,000

Strike 181000 has a total call value of 0 versus a total put value of 336,258,000,000 Combined total value = 336,258,000,000

Strike 181250 has a total call value of 0 versus a total put value of 330,777,750,000 Combined total value = 330,777,750,000

Strike 181500 has a total call value of 0 versus a total put value of 325,297,500,000 Combined total value = 325,297,500,000

Strike 181750 has a total call value of 0 versus a total put value of 319,817,250,000 Combined total value = 319,817,250,000

Strike 182000 has a total call value of 0 versus a total put value of 314,337,000,000 Combined total value = 314,337,000,000

Strike 182250 has a total call value of 0 versus a total put value of 308,928,000,000 Combined total value = 308,928,000,000

Strike 182500 has a total call value of 0 versus a total put value of 303,519,000,000 Combined total value = 303,519,000,000

Strike 182750 has a total call value of 0 versus a total put value of 298,110,000,000 Combined total value = 298,110,000,000

Strike 183000 has a total call value of 0 versus a total put value of 292,701,000,000 Combined total value = 292,701,000,000

Strike 183250 has a total call value of 0 versus a total put value of 287,365,500,000 Combined total value = 287,365,500,000

Strike 183500 has a total call value of 0 versus a total put value of 282,030,000,000 Combined total value = 282,030,000,000

Strike 183750 has a total call value of 0 versus a total put value of 276,694,500,000 Combined total value = 276,694,500,000

Strike 184000 has a total call value of 0 versus a total put value of 271,359,000,000 Combined total value = 271,359,000,000

Strike 184250 has a total call value of 0 versus a total put value of 266,023,500,000 Combined total value = 266,023,500,000

Strike 184500 has a total call value of 0 versus a total put value of 260,688,000,000 Combined total value = 260,688,000,000

Strike 184750 has a total call value of 0 versus a total put value of 255,352,500,000 Combined total value = 255,352,500,000

Strike 185000 has a total call value of 0 versus a total put value of 250,017,000,000 Combined total value = 250,017,000,000

Strike 185250 has a total call value of 0 versus a total put value of 245,250,750,000 Combined total value = 245,250,750,000

Strike 185500 has a total call value of 0 versus a total put value of 240,484,500,000 Combined total value = 240,484,500,000

Strike 185750 has a total call value of 0 versus a total put value of 235,718,250,000 Combined total value = 235,718,250,000

Strike 186000 has a total call value of 0 versus a total put value of 230,952,000,000 Combined total value = 230,952,000,000

Strike 186250 has a total call value of 0 versus a total put value of 226,185,750,000 Combined total value = 226,185,750,000

Strike 186500 has a total call value of 0 versus a total put value of 221,419,500,000 Combined total value = 221,419,500,000

Strike 186750 has a total call value of 0 versus a total put value of 216,653,250,000 Combined total value = 216,653,250,000

Strike 187000 has a total call value of 0 versus a total put value of 211,887,000,000 Combined total value = 211,887,000,000

Strike 187250 has a total call value of 0 versus a total put value of 207,120,750,000 Combined total value = 207,120,750,000

Strike 187500 has a total call value of 0 versus a total put value of 202,354,500,000 Combined total value = 202,354,500,000

Strike 187750 has a total call value of 0 versus a total put value of 197,588,250,000 Combined total value = 197,588,250,000

Strike 188000 has a total call value of 0 versus a total put value of 192,822,000,000 Combined total value = 192,822,000,000

Strike 188250 has a total call value of 0 versus a total put value of 188,106,750,000 Combined total value = 188,106,750,000

Strike 188500 has a total call value of 0 versus a total put value of 183,391,500,000 Combined total value = 183,391,500,000

Strike 188750 has a total call value of 0 versus a total put value of 178,676,250,000 Combined total value = 178,676,250,000

Strike 189000 has a total call value of 0 versus a total put value of 173,961,000,000 Combined total value = 173,961,000,000

Strike 189250 has a total call value of 0 versus a total put value of 169,245,750,000 Combined total value = 169,245,750,000

Strike 189500 has a total call value of 0 versus a total put value of 164,530,500,000 Combined total value = 164,530,500,000

Strike 189750 has a total call value of 0 versus a total put value of 159,815,250,000 Combined total value = 159,815,250,000

Strike 190000 has a total call value of 0 versus a total put value of 155,100,000,000 Combined total value = 155,100,000,000

Strike 190250 has a total call value of 0 versus a total put value of 151,186,500,000 Combined total value = 151,186,500,000

Strike 190500 has a total call value of 0 versus a total put value of 147,273,000,000 Combined total value = 147,273,000,000

Strike 190750 has a total call value of 0 versus a total put value of 143,359,500,000 Combined total value = 143,359,500,000

Strike 191000 has a total call value of 0 versus a total put value of 139,446,000,000 Combined total value = 139,446,000,000

Strike 191250 has a total call value of 0 versus a total put value of 135,590,250,000 Combined total value = 135,590,250,000

Strike 191500 has a total call value of 0 versus a total put value of 131,734,500,000 Combined total value = 131,734,500,000

Strike 191750 has a total call value of 0 versus a total put value of 127,878,750,000 Combined total value = 127,878,750,000

Strike 192000 has a total call value of 0 versus a total put value of 124,023,000,000 Combined total value = 124,023,000,000

Strike 192250 has a total call value of 0 versus a total put value of 120,315,750,000 Combined total value = 120,315,750,000

Strike 192500 has a total call value of 0 versus a total put value of 116,608,500,000 Combined total value = 116,608,500,000

Strike 192750 has a total call value of 0 versus a total put value of 112,901,250,000 Combined total value = 112,901,250,000

Strike 193000 has a total call value of 0 versus a total put value of 109,194,000,000 Combined total value = 109,194,000,000

Strike 193250 has a total call value of 0 versus a total put value of 105,570,000,000 Combined total value = 105,570,000,000

Strike 193500 has a total call value of 0 versus a total put value of 101,946,000,000 Combined total value = 101,946,000,000

Strike 193750 has a total call value of 0 versus a total put value of 98,322,000,000 Combined total value = 98,322,000,000

Strike 194000 has a total call value of 0 versus a total put value of 94,698,000,000 Combined total value = 94,698,000,000

Strike 194250 has a total call value of 25,500,000 versus a total put value of 91,182,000,000 Combined total value = 91,207,500,000

Strike 194500 has a total call value of 51,000,000 versus a total put value of 87,666,000,000 Combined total value = 87,717,000,000

Strike 194750 has a total call value of 76,500,000 versus a total put value of 84,150,000,000 Combined total value = 84,226,500,000

Strike 195000 has a total call value of 102,000,000 versus a total put value of 80,634,000,000 Combined total value = 80,736,000,000

Strike 195250 has a total call value of 296,250,000 versus a total put value of 77,902,500,000 Combined total value = 78,198,750,000

Strike 195500 has a total call value of 490,500,000 versus a total put value of 75,171,000,000 Combined total value = 75,661,500,000

Strike 195750 has a total call value of 684,750,000 versus a total put value of 72,439,500,000 Combined total value = 73,124,250,000

Strike 196000 has a total call value of 879,000,000 versus a total put value of 69,708,000,000 Combined total value = 70,587,000,000

Strike 196250 has a total call value of 1,073,250,000 versus a total put value of 67,034,250,000 Combined total value = 68,107,500,000

Strike 196500 has a total call value of 1,267,500,000 versus a total put value of 64,360,500,000 Combined total value = 65,628,000,000

Strike 196750 has a total call value of 1,461,750,000 versus a total put value of 61,686,750,000 Combined total value = 63,148,500,000

Strike 197000 has a total call value of 1,656,000,000 versus a total put value of 59,013,000,000 Combined total value = 60,669,000,000

Strike 197250 has a total call value of 1,868,250,000 versus a total put value of 56,427,750,000 Combined total value = 58,296,000,000

Strike 197500 has a total call value of 2,080,500,000 versus a total put value of 53,842,500,000 Combined total value = 55,923,000,000

Strike 197750 has a total call value of 2,292,750,000 versus a total put value of 51,257,250,000 Combined total value = 53,550,000,000

Strike 198000 has a total call value of 2,505,000,000 versus a total put value of 48,672,000,000 Combined total value = 51,177,000,000

Strike 198250 has a total call value of 2,717,250,000 versus a total put value of 46,241,250,000 Combined total value = 48,958,500,000

Strike 198500 has a total call value of 2,929,500,000 versus a total put value of 43,810,500,000 Combined total value = 46,740,000,000

Strike 198750 has a total call value of 3,141,750,000 versus a total put value of 41,379,750,000 Combined total value = 44,521,500,000

Strike 199000 has a total call value of 3,354,000,000 versus a total put value of 38,949,000,000 Combined total value = 42,303,000,000

Strike 199250 has a total call value of 3,566,250,000 versus a total put value of 36,581,250,000 Combined total value = 40,147,500,000

Strike 199500 has a total call value of 3,778,500,000 versus a total put value of 34,213,500,000 Combined total value = 37,992,000,000

Strike 199750 has a total call value of 3,990,750,000 versus a total put value of 31,845,750,000 Combined total value = 35,836,500,000

Strike 200000 has a total call value of 4,203,000,000 versus a total put value of 29,478,000,000 Combined total value = 33,681,000,000

Strike 200250 has a total call value of 4,824,000,000 versus a total put value of 27,880,500,000 Combined total value = 32,704,500,000

Strike 200500 has a total call value of 5,445,000,000 versus a total put value of 26,283,000,000 Combined total value = 31,728,000,000

Strike 200750 has a total call value of 6,066,000,000 versus a total put value of 24,685,500,000 Combined total value = 30,751,500,000

Strike 201000 has a total call value of 6,687,000,000 versus a total put value of 23,088,000,000 Combined total value = 29,775,000,000

Strike 201250 has a total call value of 7,333,500,000 versus a total put value of 21,553,500,000 Combined total value = 28,887,000,000

Strike 201500 has a total call value of 7,980,000,000 versus a total put value of 20,019,000,000 Combined total value = 27,999,000,000

Strike 201750 has a total call value of 8,626,500,000 versus a total put value of 18,484,500,000 Combined total value = 27,111,000,000

Strike 202000 has a total call value of 9,273,000,000 versus a total put value of 16,950,000,000 Combined total value = 26,223,000,000

Strike 202250 has a total call value of 9,966,000,000 versus a total put value of 15,508,500,000 Combined total value = 25,474,500,000

Strike 202500 has a total call value of 10,659,000,000 versus a total put value of 14,067,000,000 Combined total value = 24,726,000,000

Strike 202750 has a total call value of 11,352,000,000 versus a total put value of 12,625,500,000 Combined total value = 23,977,500,000

Strike 203000 has a total call value of 12,045,000,000 versus a total put value of 11,184,000,000 Combined total value = 23,229,000,000

Strike 203250 has a total call value of 12,850,500,000 versus a total put value of 9,872,250,000 Combined total value = 22,722,750,000

Strike 203500 has a total call value of 13,656,000,000 versus a total put value of 8,560,500,000 Combined total value = 22,216,500,000

Strike 203750 has a total call value of 14,461,500,000 versus a total put value of 7,248,750,000 Combined total value = 21,710,250,000

Strike 204000 has a total call value of 15,267,000,000 versus a total put value of 5,937,000,000 Combined total value = 21,204,000,000

Strike 204250 has a total call value of 16,195,500,000 versus a total put value of 4,761,000,000 Combined total value = 20,956,500,000

Strike 204500 has a total call value of 17,124,000,000 versus a total put value of 3,585,000,000 Combined total value = 20,709,000,000

Strike 204750 has a total call value of 18,052,500,000 versus a total put value of 2,409,000,000 Combined total value = 20,461,500,000

Strike 205000 has a total call value of 18,981,000,000 versus a total put value of 1,233,000,000 Combined total value = 20,214,000,000

Strike 205250 has a total call value of 21,252,000,000 versus a total put value of 969,750,000 Combined total value = 22,221,750,000

Strike 205500 has a total call value of 23,523,000,000 versus a total put value of 706,500,000 Combined total value = 24,229,500,000

Strike 205750 has a total call value of 25,794,000,000 versus a total put value of 443,250,000 Combined total value = 26,237,250,000

Strike 206000 has a total call value of 28,065,000,000 versus a total put value of 180,000,000 Combined total value = 28,245,000,000

Strike 206250 has a total call value of 30,751,500,000 versus a total put value of 166,500,000 Combined total value = 30,918,000,000

Strike 206500 has a total call value of 33,438,000,000 versus a total put value of 153,000,000 Combined total value = 33,591,000,000

Strike 206750 has a total call value of 36,124,500,000 versus a total put value of 139,500,000 Combined total value = 36,264,000,000

Strike 207000 has a total call value of 38,811,000,000 versus a total put value of 126,000,000 Combined total value = 38,937,000,000

Strike 207250 has a total call value of 41,747,250,000 versus a total put value of 112,500,000 Combined total value = 41,859,750,000

Strike 207500 has a total call value of 44,683,500,000 versus a total put value of 99,000,000 Combined total value = 44,782,500,000

Strike 207750 has a total call value of 47,619,750,000 versus a total put value of 85,500,000 Combined total value = 47,705,250,000

Strike 208000 has a total call value of 50,556,000,000 versus a total put value of 72,000,000 Combined total value = 50,628,000,000

Strike 208250 has a total call value of 53,626,500,000 versus a total put value of 63,000,000 Combined total value = 53,689,500,000

Strike 208500 has a total call value of 56,697,000,000 versus a total put value of 54,000,000 Combined total value = 56,751,000,000

Strike 208750 has a total call value of 59,767,500,000 versus a total put value of 45,000,000 Combined total value = 59,812,500,000

Strike 209000 has a total call value of 62,838,000,000 versus a total put value of 36,000,000 Combined total value = 62,874,000,000

Strike 209250 has a total call value of 66,583,500,000 versus a total put value of 27,000,000 Combined total value = 66,610,500,000

Strike 209500 has a total call value of 70,329,000,000 versus a total put value of 18,000,000 Combined total value = 70,347,000,000

Strike 209750 has a total call value of 74,074,500,000 versus a total put value of 9,000,000 Combined total value = 74,083,500,000

Strike 210000 has a total call value of 77,820,000,000 versus a total put value of 0 Combined total value = 77,820,000,000

Strike 210250 has a total call value of 81,798,000,000 versus a total put value of 0 Combined total value = 81,798,000,000

Strike 210500 has a total call value of 85,776,000,000 versus a total put value of 0 Combined total value = 85,776,000,000

Strike 210750 has a total call value of 89,754,000,000 versus a total put value of 0 Combined total value = 89,754,000,000

Strike 211000 has a total call value of 93,732,000,000 versus a total put value of 0 Combined total value = 93,732,000,000

Strike 211250 has a total call value of 97,754,250,000 versus a total put value of 0 Combined total value = 97,754,250,000

Strike 211500 has a total call value of 101,776,500,000 versus a total put value of 0 Combined total value = 101,776,500,000

Strike 211750 has a total call value of 105,798,750,000 versus a total put value of 0 Combined total value = 105,798,750,000

Strike 212000 has a total call value of 109,821,000,000 versus a total put value of 0 Combined total value = 109,821,000,000

Strike 212250 has a total call value of 113,937,750,000 versus a total put value of 0 Combined total value = 113,937,750,000

Strike 212500 has a total call value of 118,054,500,000 versus a total put value of 0 Combined total value = 118,054,500,000

Strike 212750 has a total call value of 122,171,250,000 versus a total put value of 0 Combined total value = 122,171,250,000

Strike 213000 has a total call value of 126,288,000,000 versus a total put value of 0 Combined total value = 126,288,000,000

Strike 213250 has a total call value of 130,404,750,000 versus a total put value of 0 Combined total value = 130,404,750,000

Strike 213500 has a total call value of 134,521,500,000 versus a total put value of 0 Combined total value = 134,521,500,000

Strike 213750 has a total call value of 138,638,250,000 versus a total put value of 0 Combined total value = 138,638,250,000

Strike 214000 has a total call value of 142,755,000,000 versus a total put value of 0 Combined total value = 142,755,000,000

Strike 214250 has a total call value of 146,943,750,000 versus a total put value of 0 Combined total value = 146,943,750,000

Strike 214500 has a total call value of 151,132,500,000 versus a total put value of 0 Combined total value = 151,132,500,000

Strike 214750 has a total call value of 155,321,250,000 versus a total put value of 0 Combined total value = 155,321,250,000

Strike 215000 has a total call value of 159,510,000,000 versus a total put value of 0 Combined total value = 159,510,000,000

Strike 215250 has a total call value of 163,956,750,000 versus a total put value of 0 Combined total value = 163,956,750,000

Strike 215500 has a total call value of 168,403,500,000 versus a total put value of 0 Combined total value = 168,403,500,000

Strike 215750 has a total call value of 172,850,250,000 versus a total put value of 0 Combined total value = 172,850,250,000

Strike 216000 has a total call value of 177,297,000,000 versus a total put value of 0 Combined total value = 177,297,000,000

Strike 216250 has a total call value of 181,743,750,000 versus a total put value of 0 Combined total value = 181,743,750,000

Strike 216500 has a total call value of 186,190,500,000 versus a total put value of 0 Combined total value = 186,190,500,000

Strike 216750 has a total call value of 190,637,250,000 versus a total put value of 0 Combined total value = 190,637,250,000

Strike 217000 has a total call value of 195,084,000,000 versus a total put value of 0 Combined total value = 195,084,000,000

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	1138.9	1140
ABB	5177	5200
ABCAPITAL	348.7	345
ADANIENSOL	988.25	980
ADANIENT	2239	2300
ADANIGREEN	1020.9	1040
ADANIPORTS	1496.4	1500
ALKEM	5555.5	5650
AMBER	6681	6800
AMBUJACEM	539.65	550
ANGELONE	2518.1	2550
APLAPOLLO	1820.1	1780
APOLLOHOSP	7012.5	7100
ASHOKLEY	173.56	165
ASIANPAINT	2799.9	2800
ASTRAL	1423.6	1440
AUBANK	985.15	960
AUROPHARMA	1225.1	1220
AXISBANK	1230.6	1240
BAJAJ-AUTO	9002	9000
BAJAJFINSV	2043.8	2060
BAJFINANCE	1008.3	1020
BANDHANBNK	150.09	150
BANKBARODA	292.05	290
BANKINDIA	143.21	143
BDL	1373.1	1400
BEL	392.85	400
BHARATFORG	1439.9	1400
BHARTIARTL	2097.7	2100
BHEL	275.75	280
BIOCON	398.55	395
BLUESTARCO	1781.4	1780
BOSCHLTD	35940	36000
BPCL	365.95	365
BRITANNIA	6103	6000
BSE	2684.8	2700
CAMS	758.1	780
CANBK	148.58	150
CDSL	1499.6	1560
CGPOWER	671.6	680
CHOLAFIN	1648.1	1700
CIPLA	1517.1	1520
COALINDIA	385.6	385
COFORGE	1845.4	1840
COLPAL	2111.1	2180
CONCOR	501.35	520
CROMPTON	255.6	265
CUMMINSIND	4410.4	4400
CYIENT	1157.6	1140
DABUR	493.95	500
DALBHARAT	2015.3	2020
DELHIVERY	405.95	410
DIVISLAB	6478.5	6450
DIXON	13268	13500
DLF	691.2	710
DMART	3819.5	3900
DRREDDY	1278.2	1270
EICHERMOT	7217	7150
ETERNAL	286.05	295
EXIDEIND	363.25	370
FEDERALBNK	267.85	260
FORTIS	890.9	900
GAIL	169.76	175
GLENMARK	1992.1	1940
GMRAIRPORT	101.53	102
GODREJCP	1186.2	1160
GODREJPROP	2044.8	2080
GRASIM	2812.5	2800
HAL	4305.3	4500
HAVELLS	1416.9	1440
HCLTECH	1642.4	1660
HDFCAMC	2672.2	2660
HDFCBANK	985.5	995
HDFCLIFE	766.45	770
HEROMOTOCO	5781	5900
HFCL	64.12	67
HINDALCO	852	820
HINDPETRO	469.75	460
HINDUNILVR	2280	2300
HINDZINC	588.75	560
HUDCO	211.27	217.5
ICICIBANK	1354.1	1370
ICICIGI	1954.3	1960
ICICIPRULI	650.4	630
IDEA	11.96	11
IDFCFIRSTB	84.68	82
IEX	141.4	145
IIFL	564.6	560
INDHOTEL	731.2	730
INDIANB	781.4	820
INDIGO	5153.5	5100
INDUSINDBK	844.7	850
INDUSTOWER	414.05	410
INFY	1638.7	1600
INOXWIND	126.87	130
IOC	162.6	162
IRCTC	674	690
IREDA	133.19	140
IRFC	113.98	116
ITC	401.05	405
JINDALSTEL	992.6	1020
JIOFIN	296.95	305
JSWENERGY	478.25	490
JSWSTEEL	1079.6	1120
JUBLFOOD	563.7	580
KALYANKJIL	484.85	480
KAYNES	4185	4400
KEI	4284.4	4150
KFINTECH	1078.1	1080
KOTAKBANK	2159.5	2160
KPITTECH	1224.6	1220
LAURUSLABS	1045.2	1010
LICHSGFIN	532.45	550
LICI	852	870
LODHA	1090.2	1120
LT	4073.5	4040
LTF	300.3	300
LTIM	6197.5	6100
LUPIN	2125.8	2100
M&M	3603.6	3650
MANAPPURAM	292.65	285
MANKIND	2172.1	2200
MARICO	741.2	740
MARUTI	16414	16300
MAXHEALTH	1075.8	1100
MAZDOCK	2408.2	2500
MCX	10307	10100
MFSL	1689.9	1700
MOTHERSON	120.98	117
MPHASIS	2890.2	2900
MUTHOOTFIN	3781.2	3750
NATIONALUM	278.5	270
NAUKRI	1340.8	1360
NBCC	113.7	112
NCC	155.9	165
NESTLEIND	1244.4	1240
NHPC	76.61	78
NMDC	76.3	77
NTPC	319.9	325
NUVAMA	7169	7200
NYKAA	249.05	252.5
OBEROIRLTY	1675.3	1660
OFSS	7823.5	8000
OIL	405.05	410
ONGC	232.89	237.5
PAGEIND	35745	37000
PATANJALI	559.4	550
PAYTM	1336	1300
PERSISTENT	6358	6300
PETRONET	273.85	280
PFC	338.7	355
PGEL	582	570
PHOENIXLTD	1831.3	1780
PIDILITIND	1458.3	1480
PIIND	3249.6	3350
PNB	119.82	120
PNBHOUSING	927.8	910
POLICYBZR	1888.9	1860
POLYCAB	7439	7300
POWERGRID	263.45	270
POWERINDIA	18555	18750
PPLPHARMA	171.28	177.5
PRESTIGE	1624.1	1660
RBLBANK	300.25	305
RECLTD	339.2	355
RELIANCE	1565.1	1550
RVNL	319.15	315
SAIL	125.91	130
SAMMAANCAP	145.05	155
SBICARD	870.3	870
SBILIFE	2028.4	2020
SBIN	980.3	970
SHREECEM	25600	26000
SHRIRAMFIN	901.7	880
SIEMENS	3111.6	3200
SOLARINDS	11911	12500
SONACOMS	496.8	500
SRF	3090.3	3000
SUNPHARMA	1744.9	1760
SUPREMEIND	3368.1	3400
SUZLON	52.59	54
SYNGENE	654.15	650
TATACONSUM	1184	1180
TATAELXSI	5413.5	5300
TATAMOTORS	0	320
TATAPOWER	380.55	390
TATASTEEL	168.69	170
TATATECH	654.2	670
TCS	3282	3240
TECHM	1612.5	1580
TIINDIA	2634.9	2700
TITAGARH	785	800
TITAN	3930.1	3880
TMPV	352.65	360
TORNTPHARM	3800.3	3750
TORNTPOWER	1279.1	1300
TRENT	4062.2	4200
TVSMOTOR	3666	3600
ULTRACEMCO	11496	11600
UNIONBANK	154.03	155
UNITDSPR	1406.7	1430
UNOMINDA	1267.8	1280
UPL	751.55	750
VBL	469.4	470
VEDL	581.6	555
VOLTAS	1375.5	1380
WIPRO	264.45	260
YESBANK	21.7	22
ZYDUSLIFE	919.6	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.

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