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

192615 -236.00 (-0.12%)

L: 190077 H: 201615

Max Pain - SILVER

12 Dec 2025 11:58 PM IST Market Closed

Expiry

Max Pain for SILVER is 185000

Historical data for SILVER-185000-CE

LTP (185000 CE)

10595.5 12.5

Open Interest

250 -244

Historical data for SILVER-185000-PE

LTP (185000 PE)

2769.5 -23

Open Interest

749 -226

Strike 125000 has a total call value of 0 versus a total put value of 1,511,415,750,000 Combined total value = 1,511,415,750,000

Strike 125250 has a total call value of 0 versus a total put value of 1,502,063,250,000 Combined total value = 1,502,063,250,000

Strike 125500 has a total call value of 0 versus a total put value of 1,492,710,750,000 Combined total value = 1,492,710,750,000

Strike 125750 has a total call value of 0 versus a total put value of 1,483,358,250,000 Combined total value = 1,483,358,250,000

Strike 126000 has a total call value of 0 versus a total put value of 1,474,005,750,000 Combined total value = 1,474,005,750,000

Strike 126250 has a total call value of 0 versus a total put value of 1,464,653,250,000 Combined total value = 1,464,653,250,000

Strike 126500 has a total call value of 0 versus a total put value of 1,455,300,750,000 Combined total value = 1,455,300,750,000

Strike 126750 has a total call value of 0 versus a total put value of 1,445,948,250,000 Combined total value = 1,445,948,250,000

Strike 127000 has a total call value of 0 versus a total put value of 1,436,595,750,000 Combined total value = 1,436,595,750,000

Strike 127250 has a total call value of 0 versus a total put value of 1,427,243,250,000 Combined total value = 1,427,243,250,000

Strike 127500 has a total call value of 0 versus a total put value of 1,417,890,750,000 Combined total value = 1,417,890,750,000

Strike 127750 has a total call value of 0 versus a total put value of 1,408,538,250,000 Combined total value = 1,408,538,250,000

Strike 128000 has a total call value of 0 versus a total put value of 1,399,185,750,000 Combined total value = 1,399,185,750,000

Strike 128250 has a total call value of 0 versus a total put value of 1,389,833,250,000 Combined total value = 1,389,833,250,000

Strike 128500 has a total call value of 0 versus a total put value of 1,380,480,750,000 Combined total value = 1,380,480,750,000

Strike 128750 has a total call value of 0 versus a total put value of 1,371,128,250,000 Combined total value = 1,371,128,250,000

Strike 129000 has a total call value of 0 versus a total put value of 1,361,775,750,000 Combined total value = 1,361,775,750,000

Strike 129250 has a total call value of 0 versus a total put value of 1,352,423,250,000 Combined total value = 1,352,423,250,000

Strike 129500 has a total call value of 0 versus a total put value of 1,343,070,750,000 Combined total value = 1,343,070,750,000

Strike 129750 has a total call value of 0 versus a total put value of 1,333,718,250,000 Combined total value = 1,333,718,250,000

Strike 130000 has a total call value of 0 versus a total put value of 1,324,365,750,000 Combined total value = 1,324,365,750,000

Strike 130250 has a total call value of 0 versus a total put value of 1,315,293,750,000 Combined total value = 1,315,293,750,000

Strike 130500 has a total call value of 0 versus a total put value of 1,306,221,750,000 Combined total value = 1,306,221,750,000

Strike 130750 has a total call value of 0 versus a total put value of 1,297,149,750,000 Combined total value = 1,297,149,750,000

Strike 131000 has a total call value of 0 versus a total put value of 1,288,077,750,000 Combined total value = 1,288,077,750,000

Strike 131250 has a total call value of 0 versus a total put value of 1,279,005,750,000 Combined total value = 1,279,005,750,000

Strike 131500 has a total call value of 0 versus a total put value of 1,269,933,750,000 Combined total value = 1,269,933,750,000

Strike 131750 has a total call value of 0 versus a total put value of 1,260,861,750,000 Combined total value = 1,260,861,750,000

Strike 132000 has a total call value of 0 versus a total put value of 1,251,789,750,000 Combined total value = 1,251,789,750,000

Strike 132250 has a total call value of 0 versus a total put value of 1,242,717,750,000 Combined total value = 1,242,717,750,000

Strike 132500 has a total call value of 0 versus a total put value of 1,233,645,750,000 Combined total value = 1,233,645,750,000

Strike 132750 has a total call value of 0 versus a total put value of 1,224,573,750,000 Combined total value = 1,224,573,750,000

Strike 133000 has a total call value of 0 versus a total put value of 1,215,501,750,000 Combined total value = 1,215,501,750,000

Strike 133250 has a total call value of 0 versus a total put value of 1,206,429,750,000 Combined total value = 1,206,429,750,000

Strike 133500 has a total call value of 0 versus a total put value of 1,197,357,750,000 Combined total value = 1,197,357,750,000

Strike 133750 has a total call value of 0 versus a total put value of 1,188,285,750,000 Combined total value = 1,188,285,750,000

Strike 134000 has a total call value of 0 versus a total put value of 1,179,213,750,000 Combined total value = 1,179,213,750,000

Strike 134250 has a total call value of 0 versus a total put value of 1,170,141,750,000 Combined total value = 1,170,141,750,000

Strike 134500 has a total call value of 0 versus a total put value of 1,161,069,750,000 Combined total value = 1,161,069,750,000

Strike 134750 has a total call value of 0 versus a total put value of 1,151,997,750,000 Combined total value = 1,151,997,750,000

Strike 135000 has a total call value of 0 versus a total put value of 1,142,925,750,000 Combined total value = 1,142,925,750,000

Strike 135250 has a total call value of 0 versus a total put value of 1,134,054,000,000 Combined total value = 1,134,054,000,000

Strike 135500 has a total call value of 0 versus a total put value of 1,125,182,250,000 Combined total value = 1,125,182,250,000

Strike 135750 has a total call value of 0 versus a total put value of 1,116,310,500,000 Combined total value = 1,116,310,500,000

Strike 136000 has a total call value of 0 versus a total put value of 1,107,438,750,000 Combined total value = 1,107,438,750,000

Strike 136250 has a total call value of 0 versus a total put value of 1,098,567,000,000 Combined total value = 1,098,567,000,000

Strike 136500 has a total call value of 0 versus a total put value of 1,089,695,250,000 Combined total value = 1,089,695,250,000

Strike 136750 has a total call value of 0 versus a total put value of 1,080,823,500,000 Combined total value = 1,080,823,500,000

Strike 137000 has a total call value of 0 versus a total put value of 1,071,951,750,000 Combined total value = 1,071,951,750,000

Strike 137250 has a total call value of 0 versus a total put value of 1,063,080,000,000 Combined total value = 1,063,080,000,000

Strike 137500 has a total call value of 0 versus a total put value of 1,054,208,250,000 Combined total value = 1,054,208,250,000

Strike 137750 has a total call value of 0 versus a total put value of 1,045,336,500,000 Combined total value = 1,045,336,500,000

Strike 138000 has a total call value of 0 versus a total put value of 1,036,464,750,000 Combined total value = 1,036,464,750,000

Strike 138250 has a total call value of 0 versus a total put value of 1,027,593,000,000 Combined total value = 1,027,593,000,000

Strike 138500 has a total call value of 0 versus a total put value of 1,018,721,250,000 Combined total value = 1,018,721,250,000

Strike 138750 has a total call value of 0 versus a total put value of 1,009,849,500,000 Combined total value = 1,009,849,500,000

Strike 139000 has a total call value of 0 versus a total put value of 1,000,977,750,000 Combined total value = 1,000,977,750,000

Strike 139250 has a total call value of 0 versus a total put value of 992,106,000,000 Combined total value = 992,106,000,000

Strike 139500 has a total call value of 0 versus a total put value of 983,234,250,000 Combined total value = 983,234,250,000

Strike 139750 has a total call value of 0 versus a total put value of 974,362,500,000 Combined total value = 974,362,500,000

Strike 140000 has a total call value of 0 versus a total put value of 965,490,750,000 Combined total value = 965,490,750,000

Strike 140250 has a total call value of 0 versus a total put value of 957,223,500,000 Combined total value = 957,223,500,000

Strike 140500 has a total call value of 0 versus a total put value of 948,956,250,000 Combined total value = 948,956,250,000

Strike 140750 has a total call value of 0 versus a total put value of 940,689,000,000 Combined total value = 940,689,000,000

Strike 141000 has a total call value of 0 versus a total put value of 932,421,750,000 Combined total value = 932,421,750,000

Strike 141250 has a total call value of 0 versus a total put value of 924,154,500,000 Combined total value = 924,154,500,000

Strike 141500 has a total call value of 0 versus a total put value of 915,887,250,000 Combined total value = 915,887,250,000

Strike 141750 has a total call value of 0 versus a total put value of 907,620,000,000 Combined total value = 907,620,000,000

Strike 142000 has a total call value of 0 versus a total put value of 899,352,750,000 Combined total value = 899,352,750,000

Strike 142250 has a total call value of 0 versus a total put value of 891,085,500,000 Combined total value = 891,085,500,000

Strike 142500 has a total call value of 0 versus a total put value of 882,818,250,000 Combined total value = 882,818,250,000

Strike 142750 has a total call value of 0 versus a total put value of 874,551,000,000 Combined total value = 874,551,000,000

Strike 143000 has a total call value of 0 versus a total put value of 866,283,750,000 Combined total value = 866,283,750,000

Strike 143250 has a total call value of 0 versus a total put value of 858,016,500,000 Combined total value = 858,016,500,000

Strike 143500 has a total call value of 0 versus a total put value of 849,749,250,000 Combined total value = 849,749,250,000

Strike 143750 has a total call value of 0 versus a total put value of 841,482,000,000 Combined total value = 841,482,000,000

Strike 144000 has a total call value of 0 versus a total put value of 833,214,750,000 Combined total value = 833,214,750,000

Strike 144250 has a total call value of 0 versus a total put value of 824,947,500,000 Combined total value = 824,947,500,000

Strike 144500 has a total call value of 0 versus a total put value of 816,680,250,000 Combined total value = 816,680,250,000

Strike 144750 has a total call value of 0 versus a total put value of 808,413,000,000 Combined total value = 808,413,000,000

Strike 145000 has a total call value of 0 versus a total put value of 800,145,750,000 Combined total value = 800,145,750,000

Strike 145250 has a total call value of 0 versus a total put value of 792,292,500,000 Combined total value = 792,292,500,000

Strike 145500 has a total call value of 0 versus a total put value of 784,439,250,000 Combined total value = 784,439,250,000

Strike 145750 has a total call value of 0 versus a total put value of 776,586,000,000 Combined total value = 776,586,000,000

Strike 146000 has a total call value of 0 versus a total put value of 768,732,750,000 Combined total value = 768,732,750,000

Strike 146250 has a total call value of 0 versus a total put value of 760,879,500,000 Combined total value = 760,879,500,000

Strike 146500 has a total call value of 0 versus a total put value of 753,026,250,000 Combined total value = 753,026,250,000

Strike 146750 has a total call value of 0 versus a total put value of 745,173,000,000 Combined total value = 745,173,000,000

Strike 147000 has a total call value of 0 versus a total put value of 737,319,750,000 Combined total value = 737,319,750,000

Strike 147250 has a total call value of 0 versus a total put value of 729,466,500,000 Combined total value = 729,466,500,000

Strike 147500 has a total call value of 0 versus a total put value of 721,613,250,000 Combined total value = 721,613,250,000

Strike 147750 has a total call value of 0 versus a total put value of 713,760,000,000 Combined total value = 713,760,000,000

Strike 148000 has a total call value of 0 versus a total put value of 705,906,750,000 Combined total value = 705,906,750,000

Strike 148250 has a total call value of 0 versus a total put value of 698,053,500,000 Combined total value = 698,053,500,000

Strike 148500 has a total call value of 0 versus a total put value of 690,200,250,000 Combined total value = 690,200,250,000

Strike 148750 has a total call value of 0 versus a total put value of 682,347,000,000 Combined total value = 682,347,000,000

Strike 149000 has a total call value of 0 versus a total put value of 674,493,750,000 Combined total value = 674,493,750,000

Strike 149250 has a total call value of 0 versus a total put value of 666,640,500,000 Combined total value = 666,640,500,000

Strike 149500 has a total call value of 0 versus a total put value of 658,787,250,000 Combined total value = 658,787,250,000

Strike 149750 has a total call value of 0 versus a total put value of 650,934,000,000 Combined total value = 650,934,000,000

Strike 150000 has a total call value of 0 versus a total put value of 643,080,750,000 Combined total value = 643,080,750,000

Strike 150250 has a total call value of 73,500,000 versus a total put value of 636,357,750,000 Combined total value = 636,431,250,000

Strike 150500 has a total call value of 147,000,000 versus a total put value of 629,634,750,000 Combined total value = 629,781,750,000

Strike 150750 has a total call value of 220,500,000 versus a total put value of 622,911,750,000 Combined total value = 623,132,250,000

Strike 151000 has a total call value of 294,000,000 versus a total put value of 616,188,750,000 Combined total value = 616,482,750,000

Strike 151250 has a total call value of 367,500,000 versus a total put value of 609,465,750,000 Combined total value = 609,833,250,000

Strike 151500 has a total call value of 441,000,000 versus a total put value of 602,742,750,000 Combined total value = 603,183,750,000

Strike 151750 has a total call value of 514,500,000 versus a total put value of 596,019,750,000 Combined total value = 596,534,250,000

Strike 152000 has a total call value of 588,000,000 versus a total put value of 589,296,750,000 Combined total value = 589,884,750,000

Strike 152250 has a total call value of 661,500,000 versus a total put value of 582,672,000,000 Combined total value = 583,333,500,000

Strike 152500 has a total call value of 735,000,000 versus a total put value of 576,047,250,000 Combined total value = 576,782,250,000

Strike 152750 has a total call value of 808,500,000 versus a total put value of 569,422,500,000 Combined total value = 570,231,000,000

Strike 153000 has a total call value of 882,000,000 versus a total put value of 562,797,750,000 Combined total value = 563,679,750,000

Strike 153250 has a total call value of 955,500,000 versus a total put value of 556,173,000,000 Combined total value = 557,128,500,000

Strike 153500 has a total call value of 1,029,000,000 versus a total put value of 549,548,250,000 Combined total value = 550,577,250,000

Strike 153750 has a total call value of 1,102,500,000 versus a total put value of 542,923,500,000 Combined total value = 544,026,000,000

Strike 154000 has a total call value of 1,176,000,000 versus a total put value of 536,298,750,000 Combined total value = 537,474,750,000

Strike 154250 has a total call value of 1,249,500,000 versus a total put value of 529,674,000,000 Combined total value = 530,923,500,000

Strike 154500 has a total call value of 1,323,000,000 versus a total put value of 523,049,250,000 Combined total value = 524,372,250,000

Strike 154750 has a total call value of 1,396,500,000 versus a total put value of 516,424,500,000 Combined total value = 517,821,000,000

Strike 155000 has a total call value of 1,470,000,000 versus a total put value of 509,799,750,000 Combined total value = 511,269,750,000

Strike 155250 has a total call value of 1,599,750,000 versus a total put value of 503,621,250,000 Combined total value = 505,221,000,000

Strike 155500 has a total call value of 1,729,500,000 versus a total put value of 497,442,750,000 Combined total value = 499,172,250,000

Strike 155750 has a total call value of 1,859,250,000 versus a total put value of 491,264,250,000 Combined total value = 493,123,500,000

Strike 156000 has a total call value of 1,989,000,000 versus a total put value of 485,085,750,000 Combined total value = 487,074,750,000

Strike 156250 has a total call value of 2,118,750,000 versus a total put value of 478,907,250,000 Combined total value = 481,026,000,000

Strike 156500 has a total call value of 2,248,500,000 versus a total put value of 472,728,750,000 Combined total value = 474,977,250,000

Strike 156750 has a total call value of 2,378,250,000 versus a total put value of 466,550,250,000 Combined total value = 468,928,500,000

Strike 157000 has a total call value of 2,508,000,000 versus a total put value of 460,371,750,000 Combined total value = 462,879,750,000

Strike 157250 has a total call value of 2,637,750,000 versus a total put value of 454,193,250,000 Combined total value = 456,831,000,000

Strike 157500 has a total call value of 2,767,500,000 versus a total put value of 448,014,750,000 Combined total value = 450,782,250,000

Strike 157750 has a total call value of 2,897,250,000 versus a total put value of 441,836,250,000 Combined total value = 444,733,500,000

Strike 158000 has a total call value of 3,027,000,000 versus a total put value of 435,657,750,000 Combined total value = 438,684,750,000

Strike 158250 has a total call value of 3,156,750,000 versus a total put value of 429,560,250,000 Combined total value = 432,717,000,000

Strike 158500 has a total call value of 3,286,500,000 versus a total put value of 423,462,750,000 Combined total value = 426,749,250,000

Strike 158750 has a total call value of 3,416,250,000 versus a total put value of 417,365,250,000 Combined total value = 420,781,500,000

Strike 159000 has a total call value of 3,546,000,000 versus a total put value of 411,267,750,000 Combined total value = 414,813,750,000

Strike 159250 has a total call value of 3,675,750,000 versus a total put value of 405,170,250,000 Combined total value = 408,846,000,000

Strike 159500 has a total call value of 3,805,500,000 versus a total put value of 399,072,750,000 Combined total value = 402,878,250,000

Strike 159750 has a total call value of 3,935,250,000 versus a total put value of 392,975,250,000 Combined total value = 396,910,500,000

Strike 160000 has a total call value of 4,065,000,000 versus a total put value of 386,877,750,000 Combined total value = 390,942,750,000

Strike 160250 has a total call value of 4,452,750,000 versus a total put value of 381,517,500,000 Combined total value = 385,970,250,000

Strike 160500 has a total call value of 4,840,500,000 versus a total put value of 376,157,250,000 Combined total value = 380,997,750,000

Strike 160750 has a total call value of 5,228,250,000 versus a total put value of 370,797,000,000 Combined total value = 376,025,250,000

Strike 161000 has a total call value of 5,616,000,000 versus a total put value of 365,436,750,000 Combined total value = 371,052,750,000

Strike 161250 has a total call value of 6,003,750,000 versus a total put value of 360,164,250,000 Combined total value = 366,168,000,000

Strike 161500 has a total call value of 6,391,500,000 versus a total put value of 354,891,750,000 Combined total value = 361,283,250,000

Strike 161750 has a total call value of 6,779,250,000 versus a total put value of 349,619,250,000 Combined total value = 356,398,500,000

Strike 162000 has a total call value of 7,167,000,000 versus a total put value of 344,346,750,000 Combined total value = 351,513,750,000

Strike 162250 has a total call value of 7,567,500,000 versus a total put value of 339,186,750,000 Combined total value = 346,754,250,000

Strike 162500 has a total call value of 7,968,000,000 versus a total put value of 334,026,750,000 Combined total value = 341,994,750,000

Strike 162750 has a total call value of 8,368,500,000 versus a total put value of 328,866,750,000 Combined total value = 337,235,250,000

Strike 163000 has a total call value of 8,769,000,000 versus a total put value of 323,706,750,000 Combined total value = 332,475,750,000

Strike 163250 has a total call value of 9,169,500,000 versus a total put value of 318,546,750,000 Combined total value = 327,716,250,000

Strike 163500 has a total call value of 9,570,000,000 versus a total put value of 313,386,750,000 Combined total value = 322,956,750,000

Strike 163750 has a total call value of 9,970,500,000 versus a total put value of 308,226,750,000 Combined total value = 318,197,250,000

Strike 164000 has a total call value of 10,371,000,000 versus a total put value of 303,066,750,000 Combined total value = 313,437,750,000

Strike 164250 has a total call value of 10,812,750,000 versus a total put value of 297,979,500,000 Combined total value = 308,792,250,000

Strike 164500 has a total call value of 11,254,500,000 versus a total put value of 292,892,250,000 Combined total value = 304,146,750,000

Strike 164750 has a total call value of 11,696,250,000 versus a total put value of 287,805,000,000 Combined total value = 299,501,250,000

Strike 165000 has a total call value of 12,138,000,000 versus a total put value of 282,717,750,000 Combined total value = 294,855,750,000

Strike 165250 has a total call value of 12,677,250,000 versus a total put value of 278,205,750,000 Combined total value = 290,883,000,000

Strike 165500 has a total call value of 13,216,500,000 versus a total put value of 273,693,750,000 Combined total value = 286,910,250,000

Strike 165750 has a total call value of 13,755,750,000 versus a total put value of 269,181,750,000 Combined total value = 282,937,500,000

Strike 166000 has a total call value of 14,295,000,000 versus a total put value of 264,669,750,000 Combined total value = 278,964,750,000

Strike 166250 has a total call value of 14,845,500,000 versus a total put value of 260,210,250,000 Combined total value = 275,055,750,000

Strike 166500 has a total call value of 15,396,000,000 versus a total put value of 255,750,750,000 Combined total value = 271,146,750,000

Strike 166750 has a total call value of 15,946,500,000 versus a total put value of 251,291,250,000 Combined total value = 267,237,750,000

Strike 167000 has a total call value of 16,497,000,000 versus a total put value of 246,831,750,000 Combined total value = 263,328,750,000

Strike 167250 has a total call value of 17,047,500,000 versus a total put value of 242,423,250,000 Combined total value = 259,470,750,000

Strike 167500 has a total call value of 17,598,000,000 versus a total put value of 238,014,750,000 Combined total value = 255,612,750,000

Strike 167750 has a total call value of 18,148,500,000 versus a total put value of 233,606,250,000 Combined total value = 251,754,750,000

Strike 168000 has a total call value of 18,699,000,000 versus a total put value of 229,197,750,000 Combined total value = 247,896,750,000

Strike 168250 has a total call value of 19,249,500,000 versus a total put value of 224,850,000,000 Combined total value = 244,099,500,000

Strike 168500 has a total call value of 19,800,000,000 versus a total put value of 220,502,250,000 Combined total value = 240,302,250,000

Strike 168750 has a total call value of 20,350,500,000 versus a total put value of 216,154,500,000 Combined total value = 236,505,000,000

Strike 169000 has a total call value of 20,901,000,000 versus a total put value of 211,806,750,000 Combined total value = 232,707,750,000

Strike 169250 has a total call value of 21,451,500,000 versus a total put value of 207,475,500,000 Combined total value = 228,927,000,000

Strike 169500 has a total call value of 22,002,000,000 versus a total put value of 203,144,250,000 Combined total value = 225,146,250,000

Strike 169750 has a total call value of 22,552,500,000 versus a total put value of 198,813,000,000 Combined total value = 221,365,500,000

Strike 170000 has a total call value of 23,103,000,000 versus a total put value of 194,481,750,000 Combined total value = 217,584,750,000

Strike 170250 has a total call value of 23,923,500,000 versus a total put value of 190,934,250,000 Combined total value = 214,857,750,000

Strike 170500 has a total call value of 24,744,000,000 versus a total put value of 187,386,750,000 Combined total value = 212,130,750,000

Strike 170750 has a total call value of 25,564,500,000 versus a total put value of 183,839,250,000 Combined total value = 209,403,750,000

Strike 171000 has a total call value of 26,385,000,000 versus a total put value of 180,291,750,000 Combined total value = 206,676,750,000

Strike 171250 has a total call value of 27,205,500,000 versus a total put value of 176,754,000,000 Combined total value = 203,959,500,000

Strike 171500 has a total call value of 28,026,000,000 versus a total put value of 173,216,250,000 Combined total value = 201,242,250,000

Strike 171750 has a total call value of 28,846,500,000 versus a total put value of 169,678,500,000 Combined total value = 198,525,000,000

Strike 172000 has a total call value of 29,667,000,000 versus a total put value of 166,140,750,000 Combined total value = 195,807,750,000

Strike 172250 has a total call value of 30,493,500,000 versus a total put value of 162,638,250,000 Combined total value = 193,131,750,000

Strike 172500 has a total call value of 31,320,000,000 versus a total put value of 159,135,750,000 Combined total value = 190,455,750,000

Strike 172750 has a total call value of 32,146,500,000 versus a total put value of 155,633,250,000 Combined total value = 187,779,750,000

Strike 173000 has a total call value of 32,973,000,000 versus a total put value of 152,130,750,000 Combined total value = 185,103,750,000

Strike 173250 has a total call value of 33,810,000,000 versus a total put value of 148,666,500,000 Combined total value = 182,476,500,000

Strike 173500 has a total call value of 34,647,000,000 versus a total put value of 145,202,250,000 Combined total value = 179,849,250,000

Strike 173750 has a total call value of 35,484,000,000 versus a total put value of 141,738,000,000 Combined total value = 177,222,000,000

Strike 174000 has a total call value of 36,321,000,000 versus a total put value of 138,273,750,000 Combined total value = 174,594,750,000

Strike 174250 has a total call value of 37,158,000,000 versus a total put value of 134,855,250,000 Combined total value = 172,013,250,000

Strike 174500 has a total call value of 37,995,000,000 versus a total put value of 131,436,750,000 Combined total value = 169,431,750,000

Strike 174750 has a total call value of 38,832,000,000 versus a total put value of 128,018,250,000 Combined total value = 166,850,250,000

Strike 175000 has a total call value of 39,669,000,000 versus a total put value of 124,599,750,000 Combined total value = 164,268,750,000

Strike 175250 has a total call value of 40,679,250,000 versus a total put value of 121,715,250,000 Combined total value = 162,394,500,000

Strike 175500 has a total call value of 41,689,500,000 versus a total put value of 118,830,750,000 Combined total value = 160,520,250,000

Strike 175750 has a total call value of 42,699,750,000 versus a total put value of 115,946,250,000 Combined total value = 158,646,000,000

Strike 176000 has a total call value of 43,710,000,000 versus a total put value of 113,061,750,000 Combined total value = 156,771,750,000

Strike 176250 has a total call value of 44,720,250,000 versus a total put value of 110,208,750,000 Combined total value = 154,929,000,000

Strike 176500 has a total call value of 45,730,500,000 versus a total put value of 107,355,750,000 Combined total value = 153,086,250,000

Strike 176750 has a total call value of 46,740,750,000 versus a total put value of 104,502,750,000 Combined total value = 151,243,500,000

Strike 177000 has a total call value of 47,751,000,000 versus a total put value of 101,649,750,000 Combined total value = 149,400,750,000

Strike 177250 has a total call value of 48,780,000,000 versus a total put value of 98,861,250,000 Combined total value = 147,641,250,000

Strike 177500 has a total call value of 49,809,000,000 versus a total put value of 96,072,750,000 Combined total value = 145,881,750,000

Strike 177750 has a total call value of 50,838,000,000 versus a total put value of 93,284,250,000 Combined total value = 144,122,250,000

Strike 178000 has a total call value of 51,867,000,000 versus a total put value of 90,495,750,000 Combined total value = 142,362,750,000

Strike 178250 has a total call value of 52,896,000,000 versus a total put value of 87,787,500,000 Combined total value = 140,683,500,000

Strike 178500 has a total call value of 53,925,000,000 versus a total put value of 85,079,250,000 Combined total value = 139,004,250,000

Strike 178750 has a total call value of 54,954,000,000 versus a total put value of 82,371,000,000 Combined total value = 137,325,000,000

Strike 179000 has a total call value of 55,983,000,000 versus a total put value of 79,662,750,000 Combined total value = 135,645,750,000

Strike 179250 has a total call value of 57,129,000,000 versus a total put value of 77,023,500,000 Combined total value = 134,152,500,000

Strike 179500 has a total call value of 58,275,000,000 versus a total put value of 74,384,250,000 Combined total value = 132,659,250,000

Strike 179750 has a total call value of 59,421,000,000 versus a total put value of 71,745,000,000 Combined total value = 131,166,000,000

Strike 180000 has a total call value of 60,567,000,000 versus a total put value of 69,105,750,000 Combined total value = 129,672,750,000

Strike 180250 has a total call value of 61,860,000,000 versus a total put value of 67,117,500,000 Combined total value = 128,977,500,000

Strike 180500 has a total call value of 63,153,000,000 versus a total put value of 65,129,250,000 Combined total value = 128,282,250,000

Strike 180750 has a total call value of 64,446,000,000 versus a total put value of 63,141,000,000 Combined total value = 127,587,000,000

Strike 181000 has a total call value of 65,739,000,000 versus a total put value of 61,152,750,000 Combined total value = 126,891,750,000

Strike 181250 has a total call value of 67,058,250,000 versus a total put value of 59,190,750,000 Combined total value = 126,249,000,000

Strike 181500 has a total call value of 68,377,500,000 versus a total put value of 57,228,750,000 Combined total value = 125,606,250,000

Strike 181750 has a total call value of 69,696,750,000 versus a total put value of 55,266,750,000 Combined total value = 124,963,500,000

Strike 182000 has a total call value of 71,016,000,000 versus a total put value of 53,304,750,000 Combined total value = 124,320,750,000

Strike 182250 has a total call value of 72,438,000,000 versus a total put value of 51,423,000,000 Combined total value = 123,861,000,000

Strike 182500 has a total call value of 73,860,000,000 versus a total put value of 49,541,250,000 Combined total value = 123,401,250,000

Strike 182750 has a total call value of 75,282,000,000 versus a total put value of 47,659,500,000 Combined total value = 122,941,500,000

Strike 183000 has a total call value of 76,704,000,000 versus a total put value of 45,777,750,000 Combined total value = 122,481,750,000

Strike 183250 has a total call value of 78,227,250,000 versus a total put value of 43,974,750,000 Combined total value = 122,202,000,000

Strike 183500 has a total call value of 79,750,500,000 versus a total put value of 42,171,750,000 Combined total value = 121,922,250,000

Strike 183750 has a total call value of 81,273,750,000 versus a total put value of 40,368,750,000 Combined total value = 121,642,500,000

Strike 184000 has a total call value of 82,797,000,000 versus a total put value of 38,565,750,000 Combined total value = 121,362,750,000

Strike 184250 has a total call value of 84,320,250,000 versus a total put value of 36,810,000,000 Combined total value = 121,130,250,000

Strike 184500 has a total call value of 85,843,500,000 versus a total put value of 35,054,250,000 Combined total value = 120,897,750,000

Strike 184750 has a total call value of 87,366,750,000 versus a total put value of 33,298,500,000 Combined total value = 120,665,250,000

Strike 185000 has a total call value of 88,890,000,000 versus a total put value of 31,542,750,000 Combined total value = 120,432,750,000

Strike 185250 has a total call value of 90,600,750,000 versus a total put value of 30,348,750,000 Combined total value = 120,949,500,000

Strike 185500 has a total call value of 92,311,500,000 versus a total put value of 29,154,750,000 Combined total value = 121,466,250,000

Strike 185750 has a total call value of 94,022,250,000 versus a total put value of 27,960,750,000 Combined total value = 121,983,000,000

Strike 186000 has a total call value of 95,733,000,000 versus a total put value of 26,766,750,000 Combined total value = 122,499,750,000

Strike 186250 has a total call value of 97,452,000,000 versus a total put value of 25,602,750,000 Combined total value = 123,054,750,000

Strike 186500 has a total call value of 99,171,000,000 versus a total put value of 24,438,750,000 Combined total value = 123,609,750,000

Strike 186750 has a total call value of 100,890,000,000 versus a total put value of 23,274,750,000 Combined total value = 124,164,750,000

Strike 187000 has a total call value of 102,609,000,000 versus a total put value of 22,110,750,000 Combined total value = 124,719,750,000

Strike 187250 has a total call value of 104,343,750,000 versus a total put value of 20,982,000,000 Combined total value = 125,325,750,000

Strike 187500 has a total call value of 106,078,500,000 versus a total put value of 19,853,250,000 Combined total value = 125,931,750,000

Strike 187750 has a total call value of 107,813,250,000 versus a total put value of 18,724,500,000 Combined total value = 126,537,750,000

Strike 188000 has a total call value of 109,548,000,000 versus a total put value of 17,595,750,000 Combined total value = 127,143,750,000

Strike 188250 has a total call value of 111,314,250,000 versus a total put value of 16,530,750,000 Combined total value = 127,845,000,000

Strike 188500 has a total call value of 113,080,500,000 versus a total put value of 15,465,750,000 Combined total value = 128,546,250,000

Strike 188750 has a total call value of 114,846,750,000 versus a total put value of 14,400,750,000 Combined total value = 129,247,500,000

Strike 189000 has a total call value of 116,613,000,000 versus a total put value of 13,335,750,000 Combined total value = 129,948,750,000

Strike 189250 has a total call value of 118,401,750,000 versus a total put value of 12,321,750,000 Combined total value = 130,723,500,000

Strike 189500 has a total call value of 120,190,500,000 versus a total put value of 11,307,750,000 Combined total value = 131,498,250,000

Strike 189750 has a total call value of 121,979,250,000 versus a total put value of 10,293,750,000 Combined total value = 132,273,000,000

Strike 190000 has a total call value of 123,768,000,000 versus a total put value of 9,279,750,000 Combined total value = 133,047,750,000

Strike 190250 has a total call value of 125,879,250,000 versus a total put value of 8,756,250,000 Combined total value = 134,635,500,000

Strike 190500 has a total call value of 127,990,500,000 versus a total put value of 8,232,750,000 Combined total value = 136,223,250,000

Strike 190750 has a total call value of 130,101,750,000 versus a total put value of 7,709,250,000 Combined total value = 137,811,000,000

Strike 191000 has a total call value of 132,213,000,000 versus a total put value of 7,185,750,000 Combined total value = 139,398,750,000

Strike 191250 has a total call value of 134,376,000,000 versus a total put value of 6,704,250,000 Combined total value = 141,080,250,000

Strike 191500 has a total call value of 136,539,000,000 versus a total put value of 6,222,750,000 Combined total value = 142,761,750,000

Strike 191750 has a total call value of 138,702,000,000 versus a total put value of 5,741,250,000 Combined total value = 144,443,250,000

Strike 192000 has a total call value of 140,865,000,000 versus a total put value of 5,259,750,000 Combined total value = 146,124,750,000

Strike 192250 has a total call value of 143,371,500,000 versus a total put value of 4,872,000,000 Combined total value = 148,243,500,000

Strike 192500 has a total call value of 145,878,000,000 versus a total put value of 4,484,250,000 Combined total value = 150,362,250,000

Strike 192750 has a total call value of 148,384,500,000 versus a total put value of 4,096,500,000 Combined total value = 152,481,000,000

Strike 193000 has a total call value of 150,891,000,000 versus a total put value of 3,708,750,000 Combined total value = 154,599,750,000

Strike 193250 has a total call value of 153,574,500,000 versus a total put value of 3,384,000,000 Combined total value = 156,958,500,000

Strike 193500 has a total call value of 156,258,000,000 versus a total put value of 3,059,250,000 Combined total value = 159,317,250,000

Strike 193750 has a total call value of 158,941,500,000 versus a total put value of 2,734,500,000 Combined total value = 161,676,000,000

Strike 194000 has a total call value of 161,625,000,000 versus a total put value of 2,409,750,000 Combined total value = 164,034,750,000

Strike 194250 has a total call value of 164,348,250,000 versus a total put value of 2,108,250,000 Combined total value = 166,456,500,000

Strike 194500 has a total call value of 167,071,500,000 versus a total put value of 1,806,750,000 Combined total value = 168,878,250,000

Strike 194750 has a total call value of 169,794,750,000 versus a total put value of 1,505,250,000 Combined total value = 171,300,000,000

Strike 195000 has a total call value of 172,518,000,000 versus a total put value of 1,203,750,000 Combined total value = 173,721,750,000

Strike 195250 has a total call value of 175,524,000,000 versus a total put value of 1,071,000,000 Combined total value = 176,595,000,000

Strike 195500 has a total call value of 178,530,000,000 versus a total put value of 938,250,000 Combined total value = 179,468,250,000

Strike 195750 has a total call value of 181,536,000,000 versus a total put value of 805,500,000 Combined total value = 182,341,500,000

Strike 196000 has a total call value of 184,542,000,000 versus a total put value of 672,750,000 Combined total value = 185,214,750,000

Strike 196250 has a total call value of 187,579,500,000 versus a total put value of 570,000,000 Combined total value = 188,149,500,000

Strike 196500 has a total call value of 190,617,000,000 versus a total put value of 467,250,000 Combined total value = 191,084,250,000

Strike 196750 has a total call value of 193,654,500,000 versus a total put value of 364,500,000 Combined total value = 194,019,000,000

Strike 197000 has a total call value of 196,692,000,000 versus a total put value of 261,750,000 Combined total value = 196,953,750,000

Strike 197250 has a total call value of 199,774,500,000 versus a total put value of 196,500,000 Combined total value = 199,971,000,000

Strike 197500 has a total call value of 202,857,000,000 versus a total put value of 131,250,000 Combined total value = 202,988,250,000

Strike 197750 has a total call value of 205,939,500,000 versus a total put value of 66,000,000 Combined total value = 206,005,500,000

Strike 198000 has a total call value of 209,022,000,000 versus a total put value of 750,000 Combined total value = 209,022,750,000

Strike 198250 has a total call value of 212,434,500,000 versus a total put value of 0 Combined total value = 212,434,500,000

Strike 198500 has a total call value of 215,847,000,000 versus a total put value of 0 Combined total value = 215,847,000,000

Strike 198750 has a total call value of 219,267,000,000 versus a total put value of 0 Combined total value = 219,267,000,000

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	1142.2	1140
ABB	5278	5200
ABCAPITAL	362.95	350
ADANIENSOL	1011.3	990
ADANIENT	2282.4	2300
ADANIGREEN	1040.2	1020
ADANIPORTS	1522.8	1500
ALKEM	5631	5700
AMBER	6626	6700
AMBUJACEM	548.15	550
ANGELONE	2595.3	2600
APLAPOLLO	1737.9	1740
APOLLOHOSP	7101	7250
ASHOKLEY	163.86	157
ASIANPAINT	2764.8	2820
ASTRAL	1416.4	1440
AUBANK	968.05	950
AUROPHARMA	1195.1	1200
AXISBANK	1286.1	1280
BAJAJ-AUTO	9015	9100
BAJAJFINSV	2083.1	2080
BAJFINANCE	1017.3	1020
BANDHANBNK	149.57	150
BANKBARODA	284.45	290
BANKINDIA	141.12	144
BDL	1409.9	1460
BEL	389.45	400
BHARATFORG	1426.6	1400
BHARTIARTL	2083.4	2100
BHEL	285.15	282.5
BIOCON	386.35	390
BLUESTARCO	1796.7	1780
BOSCHLTD	36715	36500
BPCL	365.05	362.5
BRITANNIA	5915.5	5850
BSE	2735	2750
CAMS	755.2	780
CANBK	146.63	148
CDSL	1526.5	1580
CGPOWER	665.9	680
CHOLAFIN	1735.6	1700
CIPLA	1517.4	1520
COALINDIA	383.35	384.75
COFORGE	1851	1840
COLPAL	2161.3	2200
CONCOR	505.5	520
CROMPTON	254.1	265
CUMMINSIND	4600.2	4500
CYIENT	1167.7	1160
DABUR	495	505
DALBHARAT	2072.2	2020
DELHIVERY	412.3	420
DIVISLAB	6426.5	6400
DIXON	13379	13500
DLF	699.4	720
DMART	3843	3950
DRREDDY	1279.3	1270
EICHERMOT	7229	7200
ETERNAL	298.05	300
EXIDEIND	373.75	380
FEDERALBNK	261.35	257.5
FORTIS	874.05	890
GAIL	170.71	175
GLENMARK	1975	1940
GMRAIRPORT	104.34	102
GODREJCP	1153.8	1140
GODREJPROP	2075.1	2100
GRASIM	2836.7	2800
HAL	4302.5	4500
HAVELLS	1409.6	1440
HCLTECH	1673.2	1660
HDFCAMC	2674.7	2650
HDFCBANK	1001.5	1000
HDFCLIFE	777.5	770
HEROMOTOCO	5960	6100
HFCL	66.56	69
HINDALCO	852.1	820
HINDPETRO	459.9	455
HINDUNILVR	2260.6	2300
HINDZINC	561.65	540
HUDCO	213.69	222.5
ICICIBANK	1366	1380
ICICIGI	1937.9	1980
ICICIPRULI	647.55	630
IDEA	11.64	11
IDFCFIRSTB	82.29	80
IEX	143.2	145
IIFL	581	560
INDHOTEL	735.05	740
INDIANB	789.35	820
INDIGO	4860.5	5000
INDUSINDBK	846.15	850
INDUSTOWER	415.2	405
INFY	1598.2	1600
INOXWIND	124.61	130
IOC	163.67	164
IRCTC	674.25	690
IREDA	136.18	140
IRFC	113.82	117
ITC	400.1	405
JINDALSTEL	1029.5	1030
JIOFIN	300.75	305
JSWENERGY	482.2	490
JSWSTEEL	1125.5	1140
JUBLFOOD	583.55	600
KALYANKJIL	479.3	480
KAYNES	4265.5	4500
KEI	4067.1	4050
KFINTECH	1051.7	1060
KOTAKBANK	2176.6	2160
KPITTECH	1237.9	1220
LAURUSLABS	1012.3	1000
LICHSGFIN	532.4	550
LICI	867.6	880
LODHA	1091.1	1120
LT	4074.1	4040
LTF	307.85	302.5
LTIM	6284.5	6150
LUPIN	2113.9	2080
M&M	3679.6	3700
MANAPPURAM	287.6	280
MANKIND	2178.8	2200
MARICO	727.05	730
MARUTI	16522	16300
MAXHEALTH	1081.3	1100
MAZDOCK	2458.7	2600
MCX	10162	10000
MFSL	1719	1700
MOTHERSON	121.3	116
MPHASIS	2912.7	2900
MUTHOOTFIN	3837.6	3700
NATIONALUM	278.15	270
NAUKRI	1377.7	1380
NBCC	109.57	112
NCC	160.66	170
NESTLEIND	1238.3	1240
NHPC	77.13	78
NMDC	77.94	77
NTPC	325.05	325
NUVAMA	7352	7200
NYKAA	251.1	260
OBEROIRLTY	1659.8	1660
OFSS	7990	8100
OIL	404.35	415
ONGC	238.02	240
PAGEIND	36930	38000
PATANJALI	536.85	550
PAYTM	1304.7	1300
PERSISTENT	6336.5	6200
PETRONET	268.95	280
PFC	344.2	360
PGEL	567.1	560
PHOENIXLTD	1770.9	1740
PIDILITIND	1476.8	1480
PIIND	3311.1	3400
PNB	117.81	120
PNBHOUSING	937.1	910
POLICYBZR	1925.3	1900
POLYCAB	7276.5	7300
POWERGRID	263.6	275
POWERINDIA	19535	19500
PPLPHARMA	174.45	182.5
PRESTIGE	1660.9	1660
RBLBANK	307.6	310
RECLTD	344.4	360
RELIANCE	1556.5	1540
RVNL	313.9	315
SAIL	131.9	134
SAMMAANCAP	149.49	160
SBICARD	874.6	880
SBILIFE	2025.9	2020
SBIN	963.15	965
SHREECEM	26285	26500
SHRIRAMFIN	848	840
SIEMENS	3144.6	3200
SOLARINDS	12304	13000
SONACOMS	492.5	500
SRF	3023.6	2950
SUNPHARMA	1793.5	1800
SUPREMEIND	3221.1	3400
SUZLON	53.02	54
SYNGENE	647	650
TATACONSUM	1149.3	1170
TATAELXSI	5030.5	5100
TATAMOTORS	0	320
TATAPOWER	381.95	390
TATASTEEL	171.89	170
TATATECH	660	680
TCS	3220.5	3200
TECHM	1578.4	1540
TIINDIA	2655.6	2750
TITAGARH	778.45	800
TITAN	3880.2	3840
TMPV	347.45	360
TORNTPHARM	3791.5	3800
TORNTPOWER	1290.8	1300
TRENT	4075.4	4200
TVSMOTOR	3655.2	3600
ULTRACEMCO	11723	11700
UNIONBANK	152.74	152.5
UNITDSPR	1447.1	1440
UNOMINDA	1248.1	1280
UPL	748.35	750
VBL	479.95	470
VEDL	543.6	530
VOLTAS	1377.2	1360
WIPRO	260.6	255
YESBANK	21.92	23
ZYDUSLIFE	929.15	940

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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