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

198512 +611.00 (0.31%)

L: 194260 H: 199386

Max Pain - SILVER

16 Dec 2025 10:50 PM IST

Live

Expiry

Max Pain for SILVER is 190000

Historical data for SILVER-190000-CE

LTP (190000 CE)

10525 -60

Open Interest

521 68

Historical data for SILVER-190000-PE

LTP (190000 PE)

2140 -644.5

Open Interest

1013 107

Strike 125000 has a total call value of 0 versus a total put value of 1,864,197,750,000 Combined total value = 1,864,197,750,000

Strike 125250 has a total call value of 0 versus a total put value of 1,853,755,500,000 Combined total value = 1,853,755,500,000

Strike 125500 has a total call value of 0 versus a total put value of 1,843,313,250,000 Combined total value = 1,843,313,250,000

Strike 125750 has a total call value of 0 versus a total put value of 1,832,871,000,000 Combined total value = 1,832,871,000,000

Strike 126000 has a total call value of 0 versus a total put value of 1,822,428,750,000 Combined total value = 1,822,428,750,000

Strike 126250 has a total call value of 0 versus a total put value of 1,811,986,500,000 Combined total value = 1,811,986,500,000

Strike 126500 has a total call value of 0 versus a total put value of 1,801,544,250,000 Combined total value = 1,801,544,250,000

Strike 126750 has a total call value of 0 versus a total put value of 1,791,102,000,000 Combined total value = 1,791,102,000,000

Strike 127000 has a total call value of 0 versus a total put value of 1,780,659,750,000 Combined total value = 1,780,659,750,000

Strike 127250 has a total call value of 0 versus a total put value of 1,770,217,500,000 Combined total value = 1,770,217,500,000

Strike 127500 has a total call value of 0 versus a total put value of 1,759,775,250,000 Combined total value = 1,759,775,250,000

Strike 127750 has a total call value of 0 versus a total put value of 1,749,333,000,000 Combined total value = 1,749,333,000,000

Strike 128000 has a total call value of 0 versus a total put value of 1,738,890,750,000 Combined total value = 1,738,890,750,000

Strike 128250 has a total call value of 0 versus a total put value of 1,728,448,500,000 Combined total value = 1,728,448,500,000

Strike 128500 has a total call value of 0 versus a total put value of 1,718,006,250,000 Combined total value = 1,718,006,250,000

Strike 128750 has a total call value of 0 versus a total put value of 1,707,564,000,000 Combined total value = 1,707,564,000,000

Strike 129000 has a total call value of 0 versus a total put value of 1,697,121,750,000 Combined total value = 1,697,121,750,000

Strike 129250 has a total call value of 0 versus a total put value of 1,686,679,500,000 Combined total value = 1,686,679,500,000

Strike 129500 has a total call value of 0 versus a total put value of 1,676,237,250,000 Combined total value = 1,676,237,250,000

Strike 129750 has a total call value of 0 versus a total put value of 1,665,795,000,000 Combined total value = 1,665,795,000,000

Strike 130000 has a total call value of 0 versus a total put value of 1,655,352,750,000 Combined total value = 1,655,352,750,000

Strike 130250 has a total call value of 0 versus a total put value of 1,645,092,000,000 Combined total value = 1,645,092,000,000

Strike 130500 has a total call value of 0 versus a total put value of 1,634,831,250,000 Combined total value = 1,634,831,250,000

Strike 130750 has a total call value of 0 versus a total put value of 1,624,570,500,000 Combined total value = 1,624,570,500,000

Strike 131000 has a total call value of 0 versus a total put value of 1,614,309,750,000 Combined total value = 1,614,309,750,000

Strike 131250 has a total call value of 0 versus a total put value of 1,604,049,000,000 Combined total value = 1,604,049,000,000

Strike 131500 has a total call value of 0 versus a total put value of 1,593,788,250,000 Combined total value = 1,593,788,250,000

Strike 131750 has a total call value of 0 versus a total put value of 1,583,527,500,000 Combined total value = 1,583,527,500,000

Strike 132000 has a total call value of 0 versus a total put value of 1,573,266,750,000 Combined total value = 1,573,266,750,000

Strike 132250 has a total call value of 0 versus a total put value of 1,563,006,000,000 Combined total value = 1,563,006,000,000

Strike 132500 has a total call value of 0 versus a total put value of 1,552,745,250,000 Combined total value = 1,552,745,250,000

Strike 132750 has a total call value of 0 versus a total put value of 1,542,484,500,000 Combined total value = 1,542,484,500,000

Strike 133000 has a total call value of 0 versus a total put value of 1,532,223,750,000 Combined total value = 1,532,223,750,000

Strike 133250 has a total call value of 0 versus a total put value of 1,521,963,000,000 Combined total value = 1,521,963,000,000

Strike 133500 has a total call value of 0 versus a total put value of 1,511,702,250,000 Combined total value = 1,511,702,250,000

Strike 133750 has a total call value of 0 versus a total put value of 1,501,441,500,000 Combined total value = 1,501,441,500,000

Strike 134000 has a total call value of 0 versus a total put value of 1,491,180,750,000 Combined total value = 1,491,180,750,000

Strike 134250 has a total call value of 0 versus a total put value of 1,480,920,000,000 Combined total value = 1,480,920,000,000

Strike 134500 has a total call value of 0 versus a total put value of 1,470,659,250,000 Combined total value = 1,470,659,250,000

Strike 134750 has a total call value of 0 versus a total put value of 1,460,398,500,000 Combined total value = 1,460,398,500,000

Strike 135000 has a total call value of 0 versus a total put value of 1,450,137,750,000 Combined total value = 1,450,137,750,000

Strike 135250 has a total call value of 0 versus a total put value of 1,440,036,000,000 Combined total value = 1,440,036,000,000

Strike 135500 has a total call value of 0 versus a total put value of 1,429,934,250,000 Combined total value = 1,429,934,250,000

Strike 135750 has a total call value of 0 versus a total put value of 1,419,832,500,000 Combined total value = 1,419,832,500,000

Strike 136000 has a total call value of 0 versus a total put value of 1,409,730,750,000 Combined total value = 1,409,730,750,000

Strike 136250 has a total call value of 0 versus a total put value of 1,399,629,000,000 Combined total value = 1,399,629,000,000

Strike 136500 has a total call value of 0 versus a total put value of 1,389,527,250,000 Combined total value = 1,389,527,250,000

Strike 136750 has a total call value of 0 versus a total put value of 1,379,425,500,000 Combined total value = 1,379,425,500,000

Strike 137000 has a total call value of 0 versus a total put value of 1,369,323,750,000 Combined total value = 1,369,323,750,000

Strike 137250 has a total call value of 0 versus a total put value of 1,359,222,000,000 Combined total value = 1,359,222,000,000

Strike 137500 has a total call value of 0 versus a total put value of 1,349,120,250,000 Combined total value = 1,349,120,250,000

Strike 137750 has a total call value of 0 versus a total put value of 1,339,018,500,000 Combined total value = 1,339,018,500,000

Strike 138000 has a total call value of 0 versus a total put value of 1,328,916,750,000 Combined total value = 1,328,916,750,000

Strike 138250 has a total call value of 0 versus a total put value of 1,318,815,000,000 Combined total value = 1,318,815,000,000

Strike 138500 has a total call value of 0 versus a total put value of 1,308,713,250,000 Combined total value = 1,308,713,250,000

Strike 138750 has a total call value of 0 versus a total put value of 1,298,611,500,000 Combined total value = 1,298,611,500,000

Strike 139000 has a total call value of 0 versus a total put value of 1,288,509,750,000 Combined total value = 1,288,509,750,000

Strike 139250 has a total call value of 0 versus a total put value of 1,278,408,000,000 Combined total value = 1,278,408,000,000

Strike 139500 has a total call value of 0 versus a total put value of 1,268,306,250,000 Combined total value = 1,268,306,250,000

Strike 139750 has a total call value of 0 versus a total put value of 1,258,204,500,000 Combined total value = 1,258,204,500,000

Strike 140000 has a total call value of 0 versus a total put value of 1,248,102,750,000 Combined total value = 1,248,102,750,000

Strike 140250 has a total call value of 0 versus a total put value of 1,238,415,000,000 Combined total value = 1,238,415,000,000

Strike 140500 has a total call value of 0 versus a total put value of 1,228,727,250,000 Combined total value = 1,228,727,250,000

Strike 140750 has a total call value of 0 versus a total put value of 1,219,039,500,000 Combined total value = 1,219,039,500,000

Strike 141000 has a total call value of 0 versus a total put value of 1,209,351,750,000 Combined total value = 1,209,351,750,000

Strike 141250 has a total call value of 0 versus a total put value of 1,199,664,000,000 Combined total value = 1,199,664,000,000

Strike 141500 has a total call value of 0 versus a total put value of 1,189,976,250,000 Combined total value = 1,189,976,250,000

Strike 141750 has a total call value of 0 versus a total put value of 1,180,288,500,000 Combined total value = 1,180,288,500,000

Strike 142000 has a total call value of 0 versus a total put value of 1,170,600,750,000 Combined total value = 1,170,600,750,000

Strike 142250 has a total call value of 0 versus a total put value of 1,160,913,000,000 Combined total value = 1,160,913,000,000

Strike 142500 has a total call value of 0 versus a total put value of 1,151,225,250,000 Combined total value = 1,151,225,250,000

Strike 142750 has a total call value of 0 versus a total put value of 1,141,537,500,000 Combined total value = 1,141,537,500,000

Strike 143000 has a total call value of 0 versus a total put value of 1,131,849,750,000 Combined total value = 1,131,849,750,000

Strike 143250 has a total call value of 0 versus a total put value of 1,122,162,000,000 Combined total value = 1,122,162,000,000

Strike 143500 has a total call value of 0 versus a total put value of 1,112,474,250,000 Combined total value = 1,112,474,250,000

Strike 143750 has a total call value of 0 versus a total put value of 1,102,786,500,000 Combined total value = 1,102,786,500,000

Strike 144000 has a total call value of 0 versus a total put value of 1,093,098,750,000 Combined total value = 1,093,098,750,000

Strike 144250 has a total call value of 0 versus a total put value of 1,083,411,000,000 Combined total value = 1,083,411,000,000

Strike 144500 has a total call value of 0 versus a total put value of 1,073,723,250,000 Combined total value = 1,073,723,250,000

Strike 144750 has a total call value of 0 versus a total put value of 1,064,035,500,000 Combined total value = 1,064,035,500,000

Strike 145000 has a total call value of 0 versus a total put value of 1,054,347,750,000 Combined total value = 1,054,347,750,000

Strike 145250 has a total call value of 0 versus a total put value of 1,045,031,250,000 Combined total value = 1,045,031,250,000

Strike 145500 has a total call value of 0 versus a total put value of 1,035,714,750,000 Combined total value = 1,035,714,750,000

Strike 145750 has a total call value of 0 versus a total put value of 1,026,398,250,000 Combined total value = 1,026,398,250,000

Strike 146000 has a total call value of 0 versus a total put value of 1,017,081,750,000 Combined total value = 1,017,081,750,000

Strike 146250 has a total call value of 0 versus a total put value of 1,007,765,250,000 Combined total value = 1,007,765,250,000

Strike 146500 has a total call value of 0 versus a total put value of 998,448,750,000 Combined total value = 998,448,750,000

Strike 146750 has a total call value of 0 versus a total put value of 989,132,250,000 Combined total value = 989,132,250,000

Strike 147000 has a total call value of 0 versus a total put value of 979,815,750,000 Combined total value = 979,815,750,000

Strike 147250 has a total call value of 0 versus a total put value of 970,499,250,000 Combined total value = 970,499,250,000

Strike 147500 has a total call value of 0 versus a total put value of 961,182,750,000 Combined total value = 961,182,750,000

Strike 147750 has a total call value of 0 versus a total put value of 951,866,250,000 Combined total value = 951,866,250,000

Strike 148000 has a total call value of 0 versus a total put value of 942,549,750,000 Combined total value = 942,549,750,000

Strike 148250 has a total call value of 0 versus a total put value of 933,233,250,000 Combined total value = 933,233,250,000

Strike 148500 has a total call value of 0 versus a total put value of 923,916,750,000 Combined total value = 923,916,750,000

Strike 148750 has a total call value of 0 versus a total put value of 914,600,250,000 Combined total value = 914,600,250,000

Strike 149000 has a total call value of 0 versus a total put value of 905,283,750,000 Combined total value = 905,283,750,000

Strike 149250 has a total call value of 0 versus a total put value of 895,967,250,000 Combined total value = 895,967,250,000

Strike 149500 has a total call value of 0 versus a total put value of 886,650,750,000 Combined total value = 886,650,750,000

Strike 149750 has a total call value of 0 versus a total put value of 877,334,250,000 Combined total value = 877,334,250,000

Strike 150000 has a total call value of 0 versus a total put value of 868,017,750,000 Combined total value = 868,017,750,000

Strike 150250 has a total call value of 72,000,000 versus a total put value of 859,833,000,000 Combined total value = 859,905,000,000

Strike 150500 has a total call value of 144,000,000 versus a total put value of 851,648,250,000 Combined total value = 851,792,250,000

Strike 150750 has a total call value of 216,000,000 versus a total put value of 843,463,500,000 Combined total value = 843,679,500,000

Strike 151000 has a total call value of 288,000,000 versus a total put value of 835,278,750,000 Combined total value = 835,566,750,000

Strike 151250 has a total call value of 360,000,000 versus a total put value of 827,094,000,000 Combined total value = 827,454,000,000

Strike 151500 has a total call value of 432,000,000 versus a total put value of 818,909,250,000 Combined total value = 819,341,250,000

Strike 151750 has a total call value of 504,000,000 versus a total put value of 810,724,500,000 Combined total value = 811,228,500,000

Strike 152000 has a total call value of 576,000,000 versus a total put value of 802,539,750,000 Combined total value = 803,115,750,000

Strike 152250 has a total call value of 648,000,000 versus a total put value of 794,355,000,000 Combined total value = 795,003,000,000

Strike 152500 has a total call value of 720,000,000 versus a total put value of 786,170,250,000 Combined total value = 786,890,250,000

Strike 152750 has a total call value of 792,000,000 versus a total put value of 777,985,500,000 Combined total value = 778,777,500,000

Strike 153000 has a total call value of 864,000,000 versus a total put value of 769,800,750,000 Combined total value = 770,664,750,000

Strike 153250 has a total call value of 936,000,000 versus a total put value of 761,616,000,000 Combined total value = 762,552,000,000

Strike 153500 has a total call value of 1,008,000,000 versus a total put value of 753,431,250,000 Combined total value = 754,439,250,000

Strike 153750 has a total call value of 1,080,000,000 versus a total put value of 745,246,500,000 Combined total value = 746,326,500,000

Strike 154000 has a total call value of 1,152,000,000 versus a total put value of 737,061,750,000 Combined total value = 738,213,750,000

Strike 154250 has a total call value of 1,224,000,000 versus a total put value of 728,973,000,000 Combined total value = 730,197,000,000

Strike 154500 has a total call value of 1,296,000,000 versus a total put value of 720,884,250,000 Combined total value = 722,180,250,000

Strike 154750 has a total call value of 1,368,000,000 versus a total put value of 712,795,500,000 Combined total value = 714,163,500,000

Strike 155000 has a total call value of 1,440,000,000 versus a total put value of 704,706,750,000 Combined total value = 706,146,750,000

Strike 155250 has a total call value of 1,512,000,000 versus a total put value of 697,017,750,000 Combined total value = 698,529,750,000

Strike 155500 has a total call value of 1,584,000,000 versus a total put value of 689,328,750,000 Combined total value = 690,912,750,000

Strike 155750 has a total call value of 1,656,000,000 versus a total put value of 681,639,750,000 Combined total value = 683,295,750,000

Strike 156000 has a total call value of 1,728,000,000 versus a total put value of 673,950,750,000 Combined total value = 675,678,750,000

Strike 156250 has a total call value of 1,800,000,000 versus a total put value of 666,377,250,000 Combined total value = 668,177,250,000

Strike 156500 has a total call value of 1,872,000,000 versus a total put value of 658,803,750,000 Combined total value = 660,675,750,000

Strike 156750 has a total call value of 1,944,000,000 versus a total put value of 651,230,250,000 Combined total value = 653,174,250,000

Strike 157000 has a total call value of 2,016,000,000 versus a total put value of 643,656,750,000 Combined total value = 645,672,750,000

Strike 157250 has a total call value of 2,088,000,000 versus a total put value of 636,083,250,000 Combined total value = 638,171,250,000

Strike 157500 has a total call value of 2,160,000,000 versus a total put value of 628,509,750,000 Combined total value = 630,669,750,000

Strike 157750 has a total call value of 2,232,000,000 versus a total put value of 620,936,250,000 Combined total value = 623,168,250,000

Strike 158000 has a total call value of 2,304,000,000 versus a total put value of 613,362,750,000 Combined total value = 615,666,750,000

Strike 158250 has a total call value of 2,376,000,000 versus a total put value of 605,871,750,000 Combined total value = 608,247,750,000

Strike 158500 has a total call value of 2,448,000,000 versus a total put value of 598,380,750,000 Combined total value = 600,828,750,000

Strike 158750 has a total call value of 2,520,000,000 versus a total put value of 590,889,750,000 Combined total value = 593,409,750,000

Strike 159000 has a total call value of 2,592,000,000 versus a total put value of 583,398,750,000 Combined total value = 585,990,750,000

Strike 159250 has a total call value of 2,664,000,000 versus a total put value of 576,006,000,000 Combined total value = 578,670,000,000

Strike 159500 has a total call value of 2,736,000,000 versus a total put value of 568,613,250,000 Combined total value = 571,349,250,000

Strike 159750 has a total call value of 2,808,000,000 versus a total put value of 561,220,500,000 Combined total value = 564,028,500,000

Strike 160000 has a total call value of 2,880,000,000 versus a total put value of 553,827,750,000 Combined total value = 556,707,750,000

Strike 160250 has a total call value of 2,952,000,000 versus a total put value of 547,175,250,000 Combined total value = 550,127,250,000

Strike 160500 has a total call value of 3,024,000,000 versus a total put value of 540,522,750,000 Combined total value = 543,546,750,000

Strike 160750 has a total call value of 3,096,000,000 versus a total put value of 533,870,250,000 Combined total value = 536,966,250,000

Strike 161000 has a total call value of 3,168,000,000 versus a total put value of 527,217,750,000 Combined total value = 530,385,750,000

Strike 161250 has a total call value of 3,240,000,000 versus a total put value of 520,565,250,000 Combined total value = 523,805,250,000

Strike 161500 has a total call value of 3,312,000,000 versus a total put value of 513,912,750,000 Combined total value = 517,224,750,000

Strike 161750 has a total call value of 3,384,000,000 versus a total put value of 507,260,250,000 Combined total value = 510,644,250,000

Strike 162000 has a total call value of 3,456,000,000 versus a total put value of 500,607,750,000 Combined total value = 504,063,750,000

Strike 162250 has a total call value of 3,528,000,000 versus a total put value of 494,068,500,000 Combined total value = 497,596,500,000

Strike 162500 has a total call value of 3,600,000,000 versus a total put value of 487,529,250,000 Combined total value = 491,129,250,000

Strike 162750 has a total call value of 3,672,000,000 versus a total put value of 480,990,000,000 Combined total value = 484,662,000,000

Strike 163000 has a total call value of 3,744,000,000 versus a total put value of 474,450,750,000 Combined total value = 478,194,750,000

Strike 163250 has a total call value of 3,816,000,000 versus a total put value of 467,911,500,000 Combined total value = 471,727,500,000

Strike 163500 has a total call value of 3,888,000,000 versus a total put value of 461,372,250,000 Combined total value = 465,260,250,000

Strike 163750 has a total call value of 3,960,000,000 versus a total put value of 454,833,000,000 Combined total value = 458,793,000,000

Strike 164000 has a total call value of 4,032,000,000 versus a total put value of 448,293,750,000 Combined total value = 452,325,750,000

Strike 164250 has a total call value of 4,141,500,000 versus a total put value of 441,815,250,000 Combined total value = 445,956,750,000

Strike 164500 has a total call value of 4,251,000,000 versus a total put value of 435,336,750,000 Combined total value = 439,587,750,000

Strike 164750 has a total call value of 4,360,500,000 versus a total put value of 428,858,250,000 Combined total value = 433,218,750,000

Strike 165000 has a total call value of 4,470,000,000 versus a total put value of 422,379,750,000 Combined total value = 426,849,750,000

Strike 165250 has a total call value of 4,672,500,000 versus a total put value of 416,464,500,000 Combined total value = 421,137,000,000

Strike 165500 has a total call value of 4,875,000,000 versus a total put value of 410,549,250,000 Combined total value = 415,424,250,000

Strike 165750 has a total call value of 5,077,500,000 versus a total put value of 404,634,000,000 Combined total value = 409,711,500,000

Strike 166000 has a total call value of 5,280,000,000 versus a total put value of 398,718,750,000 Combined total value = 403,998,750,000

Strike 166250 has a total call value of 5,482,500,000 versus a total put value of 392,803,500,000 Combined total value = 398,286,000,000

Strike 166500 has a total call value of 5,685,000,000 versus a total put value of 386,888,250,000 Combined total value = 392,573,250,000

Strike 166750 has a total call value of 5,887,500,000 versus a total put value of 380,973,000,000 Combined total value = 386,860,500,000

Strike 167000 has a total call value of 6,090,000,000 versus a total put value of 375,057,750,000 Combined total value = 381,147,750,000

Strike 167250 has a total call value of 6,292,500,000 versus a total put value of 369,142,500,000 Combined total value = 375,435,000,000

Strike 167500 has a total call value of 6,495,000,000 versus a total put value of 363,227,250,000 Combined total value = 369,722,250,000

Strike 167750 has a total call value of 6,697,500,000 versus a total put value of 357,312,000,000 Combined total value = 364,009,500,000

Strike 168000 has a total call value of 6,900,000,000 versus a total put value of 351,396,750,000 Combined total value = 358,296,750,000

Strike 168250 has a total call value of 7,117,500,000 versus a total put value of 345,535,500,000 Combined total value = 352,653,000,000

Strike 168500 has a total call value of 7,335,000,000 versus a total put value of 339,674,250,000 Combined total value = 347,009,250,000

Strike 168750 has a total call value of 7,552,500,000 versus a total put value of 333,813,000,000 Combined total value = 341,365,500,000

Strike 169000 has a total call value of 7,770,000,000 versus a total put value of 327,951,750,000 Combined total value = 335,721,750,000

Strike 169250 has a total call value of 8,001,000,000 versus a total put value of 322,104,750,000 Combined total value = 330,105,750,000

Strike 169500 has a total call value of 8,232,000,000 versus a total put value of 316,257,750,000 Combined total value = 324,489,750,000

Strike 169750 has a total call value of 8,463,000,000 versus a total put value of 310,410,750,000 Combined total value = 318,873,750,000

Strike 170000 has a total call value of 8,694,000,000 versus a total put value of 304,563,750,000 Combined total value = 313,257,750,000

Strike 170250 has a total call value of 9,176,250,000 versus a total put value of 299,668,500,000 Combined total value = 308,844,750,000

Strike 170500 has a total call value of 9,658,500,000 versus a total put value of 294,773,250,000 Combined total value = 304,431,750,000

Strike 170750 has a total call value of 10,140,750,000 versus a total put value of 289,878,000,000 Combined total value = 300,018,750,000

Strike 171000 has a total call value of 10,623,000,000 versus a total put value of 284,982,750,000 Combined total value = 295,605,750,000

Strike 171250 has a total call value of 11,105,250,000 versus a total put value of 280,097,250,000 Combined total value = 291,202,500,000

Strike 171500 has a total call value of 11,587,500,000 versus a total put value of 275,211,750,000 Combined total value = 286,799,250,000

Strike 171750 has a total call value of 12,069,750,000 versus a total put value of 270,326,250,000 Combined total value = 282,396,000,000

Strike 172000 has a total call value of 12,552,000,000 versus a total put value of 265,440,750,000 Combined total value = 277,992,750,000

Strike 172250 has a total call value of 13,039,500,000 versus a total put value of 260,584,500,000 Combined total value = 273,624,000,000

Strike 172500 has a total call value of 13,527,000,000 versus a total put value of 255,728,250,000 Combined total value = 269,255,250,000

Strike 172750 has a total call value of 14,014,500,000 versus a total put value of 250,872,000,000 Combined total value = 264,886,500,000

Strike 173000 has a total call value of 14,502,000,000 versus a total put value of 246,015,750,000 Combined total value = 260,517,750,000

Strike 173250 has a total call value of 14,989,500,000 versus a total put value of 241,197,000,000 Combined total value = 256,186,500,000

Strike 173500 has a total call value of 15,477,000,000 versus a total put value of 236,378,250,000 Combined total value = 251,855,250,000

Strike 173750 has a total call value of 15,964,500,000 versus a total put value of 231,559,500,000 Combined total value = 247,524,000,000

Strike 174000 has a total call value of 16,452,000,000 versus a total put value of 226,740,750,000 Combined total value = 243,192,750,000

Strike 174250 has a total call value of 16,939,500,000 versus a total put value of 221,964,750,000 Combined total value = 238,904,250,000

Strike 174500 has a total call value of 17,427,000,000 versus a total put value of 217,188,750,000 Combined total value = 234,615,750,000

Strike 174750 has a total call value of 17,914,500,000 versus a total put value of 212,412,750,000 Combined total value = 230,327,250,000

Strike 175000 has a total call value of 18,402,000,000 versus a total put value of 207,636,750,000 Combined total value = 226,038,750,000

Strike 175250 has a total call value of 19,061,250,000 versus a total put value of 203,428,500,000 Combined total value = 222,489,750,000

Strike 175500 has a total call value of 19,720,500,000 versus a total put value of 199,220,250,000 Combined total value = 218,940,750,000

Strike 175750 has a total call value of 20,379,750,000 versus a total put value of 195,012,000,000 Combined total value = 215,391,750,000

Strike 176000 has a total call value of 21,039,000,000 versus a total put value of 190,803,750,000 Combined total value = 211,842,750,000

Strike 176250 has a total call value of 21,698,250,000 versus a total put value of 186,617,250,000 Combined total value = 208,315,500,000

Strike 176500 has a total call value of 22,357,500,000 versus a total put value of 182,430,750,000 Combined total value = 204,788,250,000

Strike 176750 has a total call value of 23,016,750,000 versus a total put value of 178,244,250,000 Combined total value = 201,261,000,000

Strike 177000 has a total call value of 23,676,000,000 versus a total put value of 174,057,750,000 Combined total value = 197,733,750,000

Strike 177250 has a total call value of 24,353,250,000 versus a total put value of 169,933,500,000 Combined total value = 194,286,750,000

Strike 177500 has a total call value of 25,030,500,000 versus a total put value of 165,809,250,000 Combined total value = 190,839,750,000

Strike 177750 has a total call value of 25,707,750,000 versus a total put value of 161,685,000,000 Combined total value = 187,392,750,000

Strike 178000 has a total call value of 26,385,000,000 versus a total put value of 157,560,750,000 Combined total value = 183,945,750,000

Strike 178250 has a total call value of 27,094,500,000 versus a total put value of 153,513,750,000 Combined total value = 180,608,250,000

Strike 178500 has a total call value of 27,804,000,000 versus a total put value of 149,466,750,000 Combined total value = 177,270,750,000

Strike 178750 has a total call value of 28,513,500,000 versus a total put value of 145,419,750,000 Combined total value = 173,933,250,000

Strike 179000 has a total call value of 29,223,000,000 versus a total put value of 141,372,750,000 Combined total value = 170,595,750,000

Strike 179250 has a total call value of 30,047,250,000 versus a total put value of 137,392,500,000 Combined total value = 167,439,750,000

Strike 179500 has a total call value of 30,871,500,000 versus a total put value of 133,412,250,000 Combined total value = 164,283,750,000

Strike 179750 has a total call value of 31,695,750,000 versus a total put value of 129,432,000,000 Combined total value = 161,127,750,000

Strike 180000 has a total call value of 32,520,000,000 versus a total put value of 125,451,750,000 Combined total value = 157,971,750,000

Strike 180250 has a total call value of 33,480,750,000 versus a total put value of 122,295,750,000 Combined total value = 155,776,500,000

Strike 180500 has a total call value of 34,441,500,000 versus a total put value of 119,139,750,000 Combined total value = 153,581,250,000

Strike 180750 has a total call value of 35,402,250,000 versus a total put value of 115,983,750,000 Combined total value = 151,386,000,000

Strike 181000 has a total call value of 36,363,000,000 versus a total put value of 112,827,750,000 Combined total value = 149,190,750,000

Strike 181250 has a total call value of 37,323,750,000 versus a total put value of 109,743,000,000 Combined total value = 147,066,750,000

Strike 181500 has a total call value of 38,284,500,000 versus a total put value of 106,658,250,000 Combined total value = 144,942,750,000

Strike 181750 has a total call value of 39,245,250,000 versus a total put value of 103,573,500,000 Combined total value = 142,818,750,000

Strike 182000 has a total call value of 40,206,000,000 versus a total put value of 100,488,750,000 Combined total value = 140,694,750,000

Strike 182250 has a total call value of 41,166,750,000 versus a total put value of 97,501,500,000 Combined total value = 138,668,250,000

Strike 182500 has a total call value of 42,127,500,000 versus a total put value of 94,514,250,000 Combined total value = 136,641,750,000

Strike 182750 has a total call value of 43,088,250,000 versus a total put value of 91,527,000,000 Combined total value = 134,615,250,000

Strike 183000 has a total call value of 44,049,000,000 versus a total put value of 88,539,750,000 Combined total value = 132,588,750,000

Strike 183250 has a total call value of 45,108,000,000 versus a total put value of 85,647,000,000 Combined total value = 130,755,000,000

Strike 183500 has a total call value of 46,167,000,000 versus a total put value of 82,754,250,000 Combined total value = 128,921,250,000

Strike 183750 has a total call value of 47,226,000,000 versus a total put value of 79,861,500,000 Combined total value = 127,087,500,000

Strike 184000 has a total call value of 48,285,000,000 versus a total put value of 76,968,750,000 Combined total value = 125,253,750,000

Strike 184250 has a total call value of 49,374,750,000 versus a total put value of 74,145,750,000 Combined total value = 123,520,500,000

Strike 184500 has a total call value of 50,464,500,000 versus a total put value of 71,322,750,000 Combined total value = 121,787,250,000

Strike 184750 has a total call value of 51,554,250,000 versus a total put value of 68,499,750,000 Combined total value = 120,054,000,000

Strike 185000 has a total call value of 52,644,000,000 versus a total put value of 65,676,750,000 Combined total value = 118,320,750,000

Strike 185250 has a total call value of 53,907,750,000 versus a total put value of 63,452,250,000 Combined total value = 117,360,000,000

Strike 185500 has a total call value of 55,171,500,000 versus a total put value of 61,227,750,000 Combined total value = 116,399,250,000

Strike 185750 has a total call value of 56,435,250,000 versus a total put value of 59,003,250,000 Combined total value = 115,438,500,000

Strike 186000 has a total call value of 57,699,000,000 versus a total put value of 56,778,750,000 Combined total value = 114,477,750,000

Strike 186250 has a total call value of 58,971,750,000 versus a total put value of 54,604,500,000 Combined total value = 113,576,250,000

Strike 186500 has a total call value of 60,244,500,000 versus a total put value of 52,430,250,000 Combined total value = 112,674,750,000

Strike 186750 has a total call value of 61,517,250,000 versus a total put value of 50,256,000,000 Combined total value = 111,773,250,000

Strike 187000 has a total call value of 62,790,000,000 versus a total put value of 48,081,750,000 Combined total value = 110,871,750,000

Strike 187250 has a total call value of 64,062,750,000 versus a total put value of 45,948,000,000 Combined total value = 110,010,750,000

Strike 187500 has a total call value of 65,335,500,000 versus a total put value of 43,814,250,000 Combined total value = 109,149,750,000

Strike 187750 has a total call value of 66,608,250,000 versus a total put value of 41,680,500,000 Combined total value = 108,288,750,000

Strike 188000 has a total call value of 67,881,000,000 versus a total put value of 39,546,750,000 Combined total value = 107,427,750,000

Strike 188250 has a total call value of 69,181,500,000 versus a total put value of 37,503,000,000 Combined total value = 106,684,500,000

Strike 188500 has a total call value of 70,482,000,000 versus a total put value of 35,459,250,000 Combined total value = 105,941,250,000

Strike 188750 has a total call value of 71,782,500,000 versus a total put value of 33,415,500,000 Combined total value = 105,198,000,000

Strike 189000 has a total call value of 73,083,000,000 versus a total put value of 31,371,750,000 Combined total value = 104,454,750,000

Strike 189250 has a total call value of 74,401,500,000 versus a total put value of 29,430,750,000 Combined total value = 103,832,250,000

Strike 189500 has a total call value of 75,720,000,000 versus a total put value of 27,489,750,000 Combined total value = 103,209,750,000

Strike 189750 has a total call value of 77,038,500,000 versus a total put value of 25,548,750,000 Combined total value = 102,587,250,000

Strike 190000 has a total call value of 78,357,000,000 versus a total put value of 23,607,750,000 Combined total value = 101,964,750,000

Strike 190250 has a total call value of 80,066,250,000 versus a total put value of 22,426,500,000 Combined total value = 102,492,750,000

Strike 190500 has a total call value of 81,775,500,000 versus a total put value of 21,245,250,000 Combined total value = 103,020,750,000

Strike 190750 has a total call value of 83,484,750,000 versus a total put value of 20,064,000,000 Combined total value = 103,548,750,000

Strike 191000 has a total call value of 85,194,000,000 versus a total put value of 18,882,750,000 Combined total value = 104,076,750,000

Strike 191250 has a total call value of 86,943,750,000 versus a total put value of 17,749,500,000 Combined total value = 104,693,250,000

Strike 191500 has a total call value of 88,693,500,000 versus a total put value of 16,616,250,000 Combined total value = 105,309,750,000

Strike 191750 has a total call value of 90,443,250,000 versus a total put value of 15,483,000,000 Combined total value = 105,926,250,000

Strike 192000 has a total call value of 92,193,000,000 versus a total put value of 14,349,750,000 Combined total value = 106,542,750,000

Strike 192250 has a total call value of 94,173,750,000 versus a total put value of 13,307,250,000 Combined total value = 107,481,000,000

Strike 192500 has a total call value of 96,154,500,000 versus a total put value of 12,264,750,000 Combined total value = 108,419,250,000

Strike 192750 has a total call value of 98,135,250,000 versus a total put value of 11,222,250,000 Combined total value = 109,357,500,000

Strike 193000 has a total call value of 100,116,000,000 versus a total put value of 10,179,750,000 Combined total value = 110,295,750,000

Strike 193250 has a total call value of 102,223,500,000 versus a total put value of 9,196,500,000 Combined total value = 111,420,000,000

Strike 193500 has a total call value of 104,331,000,000 versus a total put value of 8,213,250,000 Combined total value = 112,544,250,000

Strike 193750 has a total call value of 106,438,500,000 versus a total put value of 7,230,000,000 Combined total value = 113,668,500,000

Strike 194000 has a total call value of 108,546,000,000 versus a total put value of 6,246,750,000 Combined total value = 114,792,750,000

Strike 194250 has a total call value of 110,729,250,000 versus a total put value of 5,478,000,000 Combined total value = 116,207,250,000

Strike 194500 has a total call value of 112,912,500,000 versus a total put value of 4,709,250,000 Combined total value = 117,621,750,000

Strike 194750 has a total call value of 115,095,750,000 versus a total put value of 3,940,500,000 Combined total value = 119,036,250,000

Strike 195000 has a total call value of 117,279,000,000 versus a total put value of 3,171,750,000 Combined total value = 120,450,750,000

Strike 195250 has a total call value of 120,029,250,000 versus a total put value of 2,803,500,000 Combined total value = 122,832,750,000

Strike 195500 has a total call value of 122,779,500,000 versus a total put value of 2,435,250,000 Combined total value = 125,214,750,000

Strike 195750 has a total call value of 125,529,750,000 versus a total put value of 2,067,750,000 Combined total value = 127,597,500,000

Strike 196000 has a total call value of 128,280,000,000 versus a total put value of 1,700,250,000 Combined total value = 129,980,250,000

Strike 196250 has a total call value of 131,108,250,000 versus a total put value of 1,414,500,000 Combined total value = 132,522,750,000

Strike 196500 has a total call value of 133,936,500,000 versus a total put value of 1,128,750,000 Combined total value = 135,065,250,000

Strike 196750 has a total call value of 136,764,750,000 versus a total put value of 843,000,000 Combined total value = 137,607,750,000

Strike 197000 has a total call value of 139,593,000,000 versus a total put value of 558,000,000 Combined total value = 140,151,000,000

Strike 197250 has a total call value of 142,575,000,000 versus a total put value of 418,500,000 Combined total value = 142,993,500,000

Strike 197500 has a total call value of 145,557,000,000 versus a total put value of 279,000,000 Combined total value = 145,836,000,000

Strike 197750 has a total call value of 148,539,000,000 versus a total put value of 139,500,000 Combined total value = 148,678,500,000

Strike 198000 has a total call value of 151,521,000,000 versus a total put value of 750,000 Combined total value = 151,521,750,000

Strike 198250 has a total call value of 154,912,500,000 versus a total put value of 0 Combined total value = 154,912,500,000

Strike 198500 has a total call value of 158,304,000,000 versus a total put value of 0 Combined total value = 158,304,000,000

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	1133.4	1140
ABB	5242	5200
ABCAPITAL	348.05	350
ADANIENSOL	994.3	990
ADANIENT	2247.9	2300
ADANIGREEN	1028.2	1020
ADANIPORTS	1499	1500
ALKEM	5663.5	5700
AMBER	6779.5	6800
AMBUJACEM	548.7	555
ANGELONE	2532.4	2600
APLAPOLLO	1732.9	1740
APOLLOHOSP	7051.5	7200
ASHOKLEY	167.75	160
ASIANPAINT	2790.9	2800
ASTRAL	1462.9	1460
AUBANK	980.6	960
AUROPHARMA	1178.1	1200
AXISBANK	1219.6	1240
BAJAJ-AUTO	9008	9000
BAJAJFINSV	2035.2	2060
BAJFINANCE	998.4	1020
BANDHANBNK	149.49	150
BANKBARODA	282.85	290
BANKINDIA	139.38	143
BDL	1355.6	1400
BEL	388	400
BHARATFORG	1417.4	1400
BHARTIARTL	2102	2100
BHEL	279.35	280
BIOCON	384.9	390
BLUESTARCO	1815.6	1780
BOSCHLTD	36230	36500
BPCL	368.15	362.5
BRITANNIA	6066	6000
BSE	2605.9	2700
CAMS	753.8	780
CANBK	147.17	148
CDSL	1501.2	1560
CGPOWER	673.05	680
CHOLAFIN	1715.4	1700
CIPLA	1499.6	1520
COALINDIA	381.6	382.5
COFORGE	1866.8	1840
COLPAL	2160.4	2180
CONCOR	499.6	520
CROMPTON	252.45	265
CUMMINSIND	4494.3	4500
CYIENT	1149.8	1160
DABUR	497.2	505
DALBHARAT	2066.5	2040
DELHIVERY	401.8	410
DIVISLAB	6335.5	6400
DIXON	13628	13750
DLF	691.95	720
DMART	3856.8	3900
DRREDDY	1276.9	1270
EICHERMOT	7061.5	7100
ETERNAL	284.45	295
EXIDEIND	366.25	375
FEDERALBNK	262.2	260
FORTIS	875	890
GAIL	168.32	175
GLENMARK	1966.5	1940
GMRAIRPORT	103.52	102
GODREJCP	1182.4	1160
GODREJPROP	2023.6	2080
GRASIM	2799.1	2800
HAL	4261.4	4500
HAVELLS	1412	1440
HCLTECH	1651.7	1660
HDFCAMC	2583.7	2620
HDFCBANK	994.3	1000
HDFCLIFE	764.35	770
HEROMOTOCO	5946.5	6050
HFCL	65.43	68
HINDALCO	837.15	820
HINDPETRO	465.35	460
HINDUNILVR	2281.1	2300
HINDZINC	567.7	540
HUDCO	211.02	220
ICICIBANK	1366	1380
ICICIGI	1951.2	1980
ICICIPRULI	637.95	630
IDEA	11.25	11
IDFCFIRSTB	83.46	81
IEX	140.4	145
IIFL	566.7	560
INDHOTEL	725.25	740
INDIANB	773.15	820
INDIGO	4974	5000
INDUSINDBK	845.05	850
INDUSTOWER	408.15	410
INFY	1592.9	1600
INOXWIND	126.92	130
IOC	167.74	166
IRCTC	671.05	690
IREDA	133.87	140
IRFC	112.01	116
ITC	401.7	405
JINDALSTEL	1011.2	1030
JIOFIN	295.25	305
JSWENERGY	478.5	490
JSWSTEEL	1082.6	1130
JUBLFOOD	560.2	580
KALYANKJIL	479.1	480
KAYNES	4186.5	4400
KEI	4156.3	4100
KFINTECH	1034.5	1060
KOTAKBANK	2182.4	2160
KPITTECH	1176.3	1200
LAURUSLABS	1001.3	1000
LICHSGFIN	525.8	550
LICI	854.5	880
LODHA	1075.4	1120
LT	4063.8	4040
LTF	300.8	302.5
LTIM	6216	6150
LUPIN	2090.6	2080
M&M	3621	3650
MANAPPURAM	283.5	280
MANKIND	2106	2200
MARICO	738.8	740
MARUTI	16354	16200
MAXHEALTH	1073	1100
MAZDOCK	2408	2550
MCX	10164	10100
MFSL	1669.6	1700
MOTHERSON	119.57	116
MPHASIS	2863.1	2900
MUTHOOTFIN	3847	3750
NATIONALUM	276.85	270
NAUKRI	1346.9	1360
NBCC	111.68	112
NCC	157.85	167.5
NESTLEIND	1240.6	1240
NHPC	76.01	78
NMDC	77.15	77
NTPC	321	325
NUVAMA	7190	7200
NYKAA	247.3	255
OBEROIRLTY	1626.8	1640
OFSS	7828.5	8000
OIL	401.7	410
ONGC	232.21	240
PAGEIND	36355	37500
PATANJALI	537.85	545
PAYTM	1281.4	1300
PERSISTENT	6263	6200
PETRONET	264.7	277.5
PFC	336.15	355
PGEL	570.95	560
PHOENIXLTD	1781	1740
PIDILITIND	1473.1	1480
PIIND	3259.3	3350
PNB	117.03	120
PNBHOUSING	913.4	910
POLICYBZR	1820.5	1860
POLYCAB	7361.5	7300
POWERGRID	260.35	270
POWERINDIA	19320	19500
PPLPHARMA	168.6	180
PRESTIGE	1627.9	1660
RBLBANK	300.7	310
RECLTD	335.4	350
RELIANCE	1542.3	1540
RVNL	309.4	315
SAIL	129.68	133
SAMMAANCAP	146.89	155
SBICARD	847.7	870
SBILIFE	2036	2020
SBIN	961.15	965
SHREECEM	25990	26500
SHRIRAMFIN	848.4	850
SIEMENS	3161.4	3200
SOLARINDS	11918	12500
SONACOMS	484.95	500
SRF	3015.7	2950
SUNPHARMA	1781.3	1800
SUPREMEIND	3405.8	3400
SUZLON	52.67	54
SYNGENE	646.35	650
TATACONSUM	1169.9	1170
TATAELXSI	4998	5100
TATAMOTORS	0	320
TATAPOWER	379.85	390
TATASTEEL	169.83	170
TATATECH	650.35	680
TCS	3205.1	3200
TECHM	1578.2	1540
TIINDIA	2622.4	2700
TITAGARH	789.8	800
TITAN	3929.5	3860
TMPV	345.45	360
TORNTPHARM	3765.1	3800
TORNTPOWER	1281.2	1300
TRENT	4108.7	4200
TVSMOTOR	3619.6	3600
ULTRACEMCO	11528	11700
UNIONBANK	153.2	152.5
UNITDSPR	1451.4	1440
UNOMINDA	1257	1280
UPL	749.9	750
VBL	477.15	470
VEDL	569.5	545
VOLTAS	1394.3	1380
WIPRO	259.22	255
YESBANK	21.5	22
ZYDUSLIFE	914.35	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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