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

206323 -1112.00 (-0.54%)

L: 205685 H: 207060

Max Pain - SILVER

18 Dec 2025 12:57 PM IST

Live

Expiry

Max Pain for SILVER is 190000

Historical data for SILVER-190000-CE

LTP (190000 CE)

16700 -1606

Open Interest

494 -18

Historical data for SILVER-190000-PE

LTP (190000 PE)

864.5 -19

Open Interest

1232 38

Strike 125000 has a total call value of 0 versus a total put value of 1,808,947,500,000 Combined total value = 1,808,947,500,000

Strike 125250 has a total call value of 0 versus a total put value of 1,799,423,250,000 Combined total value = 1,799,423,250,000

Strike 125500 has a total call value of 0 versus a total put value of 1,789,899,000,000 Combined total value = 1,789,899,000,000

Strike 125750 has a total call value of 0 versus a total put value of 1,780,374,750,000 Combined total value = 1,780,374,750,000

Strike 126000 has a total call value of 0 versus a total put value of 1,770,850,500,000 Combined total value = 1,770,850,500,000

Strike 126250 has a total call value of 0 versus a total put value of 1,761,326,250,000 Combined total value = 1,761,326,250,000

Strike 126500 has a total call value of 0 versus a total put value of 1,751,802,000,000 Combined total value = 1,751,802,000,000

Strike 126750 has a total call value of 0 versus a total put value of 1,742,277,750,000 Combined total value = 1,742,277,750,000

Strike 127000 has a total call value of 0 versus a total put value of 1,732,753,500,000 Combined total value = 1,732,753,500,000

Strike 127250 has a total call value of 0 versus a total put value of 1,723,229,250,000 Combined total value = 1,723,229,250,000

Strike 127500 has a total call value of 0 versus a total put value of 1,713,705,000,000 Combined total value = 1,713,705,000,000

Strike 127750 has a total call value of 0 versus a total put value of 1,704,180,750,000 Combined total value = 1,704,180,750,000

Strike 128000 has a total call value of 0 versus a total put value of 1,694,656,500,000 Combined total value = 1,694,656,500,000

Strike 128250 has a total call value of 0 versus a total put value of 1,685,132,250,000 Combined total value = 1,685,132,250,000

Strike 128500 has a total call value of 0 versus a total put value of 1,675,608,000,000 Combined total value = 1,675,608,000,000

Strike 128750 has a total call value of 0 versus a total put value of 1,666,083,750,000 Combined total value = 1,666,083,750,000

Strike 129000 has a total call value of 0 versus a total put value of 1,656,559,500,000 Combined total value = 1,656,559,500,000

Strike 129250 has a total call value of 0 versus a total put value of 1,647,035,250,000 Combined total value = 1,647,035,250,000

Strike 129500 has a total call value of 0 versus a total put value of 1,637,511,000,000 Combined total value = 1,637,511,000,000

Strike 129750 has a total call value of 0 versus a total put value of 1,627,986,750,000 Combined total value = 1,627,986,750,000

Strike 130000 has a total call value of 0 versus a total put value of 1,618,462,500,000 Combined total value = 1,618,462,500,000

Strike 130250 has a total call value of 0 versus a total put value of 1,609,029,000,000 Combined total value = 1,609,029,000,000

Strike 130500 has a total call value of 0 versus a total put value of 1,599,595,500,000 Combined total value = 1,599,595,500,000

Strike 130750 has a total call value of 0 versus a total put value of 1,590,162,000,000 Combined total value = 1,590,162,000,000

Strike 131000 has a total call value of 0 versus a total put value of 1,580,728,500,000 Combined total value = 1,580,728,500,000

Strike 131250 has a total call value of 0 versus a total put value of 1,571,295,000,000 Combined total value = 1,571,295,000,000

Strike 131500 has a total call value of 0 versus a total put value of 1,561,861,500,000 Combined total value = 1,561,861,500,000

Strike 131750 has a total call value of 0 versus a total put value of 1,552,428,000,000 Combined total value = 1,552,428,000,000

Strike 132000 has a total call value of 0 versus a total put value of 1,542,994,500,000 Combined total value = 1,542,994,500,000

Strike 132250 has a total call value of 0 versus a total put value of 1,533,561,000,000 Combined total value = 1,533,561,000,000

Strike 132500 has a total call value of 0 versus a total put value of 1,524,127,500,000 Combined total value = 1,524,127,500,000

Strike 132750 has a total call value of 0 versus a total put value of 1,514,694,000,000 Combined total value = 1,514,694,000,000

Strike 133000 has a total call value of 0 versus a total put value of 1,505,260,500,000 Combined total value = 1,505,260,500,000

Strike 133250 has a total call value of 0 versus a total put value of 1,495,827,000,000 Combined total value = 1,495,827,000,000

Strike 133500 has a total call value of 0 versus a total put value of 1,486,393,500,000 Combined total value = 1,486,393,500,000

Strike 133750 has a total call value of 0 versus a total put value of 1,476,960,000,000 Combined total value = 1,476,960,000,000

Strike 134000 has a total call value of 0 versus a total put value of 1,467,526,500,000 Combined total value = 1,467,526,500,000

Strike 134250 has a total call value of 0 versus a total put value of 1,458,093,000,000 Combined total value = 1,458,093,000,000

Strike 134500 has a total call value of 0 versus a total put value of 1,448,659,500,000 Combined total value = 1,448,659,500,000

Strike 134750 has a total call value of 0 versus a total put value of 1,439,226,000,000 Combined total value = 1,439,226,000,000

Strike 135000 has a total call value of 0 versus a total put value of 1,429,792,500,000 Combined total value = 1,429,792,500,000

Strike 135250 has a total call value of 0 versus a total put value of 1,420,513,500,000 Combined total value = 1,420,513,500,000

Strike 135500 has a total call value of 0 versus a total put value of 1,411,234,500,000 Combined total value = 1,411,234,500,000

Strike 135750 has a total call value of 0 versus a total put value of 1,401,955,500,000 Combined total value = 1,401,955,500,000

Strike 136000 has a total call value of 0 versus a total put value of 1,392,676,500,000 Combined total value = 1,392,676,500,000

Strike 136250 has a total call value of 0 versus a total put value of 1,383,397,500,000 Combined total value = 1,383,397,500,000

Strike 136500 has a total call value of 0 versus a total put value of 1,374,118,500,000 Combined total value = 1,374,118,500,000

Strike 136750 has a total call value of 0 versus a total put value of 1,364,839,500,000 Combined total value = 1,364,839,500,000

Strike 137000 has a total call value of 0 versus a total put value of 1,355,560,500,000 Combined total value = 1,355,560,500,000

Strike 137250 has a total call value of 0 versus a total put value of 1,346,281,500,000 Combined total value = 1,346,281,500,000

Strike 137500 has a total call value of 0 versus a total put value of 1,337,002,500,000 Combined total value = 1,337,002,500,000

Strike 137750 has a total call value of 0 versus a total put value of 1,327,723,500,000 Combined total value = 1,327,723,500,000

Strike 138000 has a total call value of 0 versus a total put value of 1,318,444,500,000 Combined total value = 1,318,444,500,000

Strike 138250 has a total call value of 0 versus a total put value of 1,309,165,500,000 Combined total value = 1,309,165,500,000

Strike 138500 has a total call value of 0 versus a total put value of 1,299,886,500,000 Combined total value = 1,299,886,500,000

Strike 138750 has a total call value of 0 versus a total put value of 1,290,607,500,000 Combined total value = 1,290,607,500,000

Strike 139000 has a total call value of 0 versus a total put value of 1,281,328,500,000 Combined total value = 1,281,328,500,000

Strike 139250 has a total call value of 0 versus a total put value of 1,272,049,500,000 Combined total value = 1,272,049,500,000

Strike 139500 has a total call value of 0 versus a total put value of 1,262,770,500,000 Combined total value = 1,262,770,500,000

Strike 139750 has a total call value of 0 versus a total put value of 1,253,491,500,000 Combined total value = 1,253,491,500,000

Strike 140000 has a total call value of 0 versus a total put value of 1,244,212,500,000 Combined total value = 1,244,212,500,000

Strike 140250 has a total call value of 0 versus a total put value of 1,235,217,000,000 Combined total value = 1,235,217,000,000

Strike 140500 has a total call value of 0 versus a total put value of 1,226,221,500,000 Combined total value = 1,226,221,500,000

Strike 140750 has a total call value of 0 versus a total put value of 1,217,226,000,000 Combined total value = 1,217,226,000,000

Strike 141000 has a total call value of 0 versus a total put value of 1,208,230,500,000 Combined total value = 1,208,230,500,000

Strike 141250 has a total call value of 0 versus a total put value of 1,199,235,000,000 Combined total value = 1,199,235,000,000

Strike 141500 has a total call value of 0 versus a total put value of 1,190,239,500,000 Combined total value = 1,190,239,500,000

Strike 141750 has a total call value of 0 versus a total put value of 1,181,244,000,000 Combined total value = 1,181,244,000,000

Strike 142000 has a total call value of 0 versus a total put value of 1,172,248,500,000 Combined total value = 1,172,248,500,000

Strike 142250 has a total call value of 0 versus a total put value of 1,163,253,000,000 Combined total value = 1,163,253,000,000

Strike 142500 has a total call value of 0 versus a total put value of 1,154,257,500,000 Combined total value = 1,154,257,500,000

Strike 142750 has a total call value of 0 versus a total put value of 1,145,262,000,000 Combined total value = 1,145,262,000,000

Strike 143000 has a total call value of 0 versus a total put value of 1,136,266,500,000 Combined total value = 1,136,266,500,000

Strike 143250 has a total call value of 0 versus a total put value of 1,127,271,000,000 Combined total value = 1,127,271,000,000

Strike 143500 has a total call value of 0 versus a total put value of 1,118,275,500,000 Combined total value = 1,118,275,500,000

Strike 143750 has a total call value of 0 versus a total put value of 1,109,280,000,000 Combined total value = 1,109,280,000,000

Strike 144000 has a total call value of 0 versus a total put value of 1,100,284,500,000 Combined total value = 1,100,284,500,000

Strike 144250 has a total call value of 0 versus a total put value of 1,091,289,000,000 Combined total value = 1,091,289,000,000

Strike 144500 has a total call value of 0 versus a total put value of 1,082,293,500,000 Combined total value = 1,082,293,500,000

Strike 144750 has a total call value of 0 versus a total put value of 1,073,298,000,000 Combined total value = 1,073,298,000,000

Strike 145000 has a total call value of 0 versus a total put value of 1,064,302,500,000 Combined total value = 1,064,302,500,000

Strike 145250 has a total call value of 0 versus a total put value of 1,055,591,250,000 Combined total value = 1,055,591,250,000

Strike 145500 has a total call value of 0 versus a total put value of 1,046,880,000,000 Combined total value = 1,046,880,000,000

Strike 145750 has a total call value of 0 versus a total put value of 1,038,168,750,000 Combined total value = 1,038,168,750,000

Strike 146000 has a total call value of 0 versus a total put value of 1,029,457,500,000 Combined total value = 1,029,457,500,000

Strike 146250 has a total call value of 0 versus a total put value of 1,020,746,250,000 Combined total value = 1,020,746,250,000

Strike 146500 has a total call value of 0 versus a total put value of 1,012,035,000,000 Combined total value = 1,012,035,000,000

Strike 146750 has a total call value of 0 versus a total put value of 1,003,323,750,000 Combined total value = 1,003,323,750,000

Strike 147000 has a total call value of 0 versus a total put value of 994,612,500,000 Combined total value = 994,612,500,000

Strike 147250 has a total call value of 0 versus a total put value of 985,901,250,000 Combined total value = 985,901,250,000

Strike 147500 has a total call value of 0 versus a total put value of 977,190,000,000 Combined total value = 977,190,000,000

Strike 147750 has a total call value of 0 versus a total put value of 968,478,750,000 Combined total value = 968,478,750,000

Strike 148000 has a total call value of 0 versus a total put value of 959,767,500,000 Combined total value = 959,767,500,000

Strike 148250 has a total call value of 0 versus a total put value of 951,056,250,000 Combined total value = 951,056,250,000

Strike 148500 has a total call value of 0 versus a total put value of 942,345,000,000 Combined total value = 942,345,000,000

Strike 148750 has a total call value of 0 versus a total put value of 933,633,750,000 Combined total value = 933,633,750,000

Strike 149000 has a total call value of 0 versus a total put value of 924,922,500,000 Combined total value = 924,922,500,000

Strike 149250 has a total call value of 0 versus a total put value of 916,211,250,000 Combined total value = 916,211,250,000

Strike 149500 has a total call value of 0 versus a total put value of 907,500,000,000 Combined total value = 907,500,000,000

Strike 149750 has a total call value of 0 versus a total put value of 898,788,750,000 Combined total value = 898,788,750,000

Strike 150000 has a total call value of 0 versus a total put value of 890,077,500,000 Combined total value = 890,077,500,000

Strike 150250 has a total call value of 68,250,000 versus a total put value of 882,304,500,000 Combined total value = 882,372,750,000

Strike 150500 has a total call value of 136,500,000 versus a total put value of 874,531,500,000 Combined total value = 874,668,000,000

Strike 150750 has a total call value of 204,750,000 versus a total put value of 866,758,500,000 Combined total value = 866,963,250,000

Strike 151000 has a total call value of 273,000,000 versus a total put value of 858,985,500,000 Combined total value = 859,258,500,000

Strike 151250 has a total call value of 341,250,000 versus a total put value of 851,212,500,000 Combined total value = 851,553,750,000

Strike 151500 has a total call value of 409,500,000 versus a total put value of 843,439,500,000 Combined total value = 843,849,000,000

Strike 151750 has a total call value of 477,750,000 versus a total put value of 835,666,500,000 Combined total value = 836,144,250,000

Strike 152000 has a total call value of 546,000,000 versus a total put value of 827,893,500,000 Combined total value = 828,439,500,000

Strike 152250 has a total call value of 614,250,000 versus a total put value of 820,120,500,000 Combined total value = 820,734,750,000

Strike 152500 has a total call value of 682,500,000 versus a total put value of 812,347,500,000 Combined total value = 813,030,000,000

Strike 152750 has a total call value of 750,750,000 versus a total put value of 804,574,500,000 Combined total value = 805,325,250,000

Strike 153000 has a total call value of 819,000,000 versus a total put value of 796,801,500,000 Combined total value = 797,620,500,000

Strike 153250 has a total call value of 887,250,000 versus a total put value of 789,028,500,000 Combined total value = 789,915,750,000

Strike 153500 has a total call value of 955,500,000 versus a total put value of 781,255,500,000 Combined total value = 782,211,000,000

Strike 153750 has a total call value of 1,023,750,000 versus a total put value of 773,482,500,000 Combined total value = 774,506,250,000

Strike 154000 has a total call value of 1,092,000,000 versus a total put value of 765,709,500,000 Combined total value = 766,801,500,000

Strike 154250 has a total call value of 1,160,250,000 versus a total put value of 757,936,500,000 Combined total value = 759,096,750,000

Strike 154500 has a total call value of 1,228,500,000 versus a total put value of 750,163,500,000 Combined total value = 751,392,000,000

Strike 154750 has a total call value of 1,296,750,000 versus a total put value of 742,390,500,000 Combined total value = 743,687,250,000

Strike 155000 has a total call value of 1,365,000,000 versus a total put value of 734,617,500,000 Combined total value = 735,982,500,000

Strike 155250 has a total call value of 1,482,000,000 versus a total put value of 727,152,750,000 Combined total value = 728,634,750,000

Strike 155500 has a total call value of 1,599,000,000 versus a total put value of 719,688,000,000 Combined total value = 721,287,000,000

Strike 155750 has a total call value of 1,716,000,000 versus a total put value of 712,223,250,000 Combined total value = 713,939,250,000

Strike 156000 has a total call value of 1,833,000,000 versus a total put value of 704,758,500,000 Combined total value = 706,591,500,000

Strike 156250 has a total call value of 1,950,000,000 versus a total put value of 697,293,750,000 Combined total value = 699,243,750,000

Strike 156500 has a total call value of 2,067,000,000 versus a total put value of 689,829,000,000 Combined total value = 691,896,000,000

Strike 156750 has a total call value of 2,184,000,000 versus a total put value of 682,364,250,000 Combined total value = 684,548,250,000

Strike 157000 has a total call value of 2,301,000,000 versus a total put value of 674,899,500,000 Combined total value = 677,200,500,000

Strike 157250 has a total call value of 2,418,000,000 versus a total put value of 667,434,750,000 Combined total value = 669,852,750,000

Strike 157500 has a total call value of 2,535,000,000 versus a total put value of 659,970,000,000 Combined total value = 662,505,000,000

Strike 157750 has a total call value of 2,652,000,000 versus a total put value of 652,505,250,000 Combined total value = 655,157,250,000

Strike 158000 has a total call value of 2,769,000,000 versus a total put value of 645,040,500,000 Combined total value = 647,809,500,000

Strike 158250 has a total call value of 2,886,000,000 versus a total put value of 637,575,750,000 Combined total value = 640,461,750,000

Strike 158500 has a total call value of 3,003,000,000 versus a total put value of 630,111,000,000 Combined total value = 633,114,000,000

Strike 158750 has a total call value of 3,120,000,000 versus a total put value of 622,646,250,000 Combined total value = 625,766,250,000

Strike 159000 has a total call value of 3,237,000,000 versus a total put value of 615,181,500,000 Combined total value = 618,418,500,000

Strike 159250 has a total call value of 3,354,000,000 versus a total put value of 607,810,500,000 Combined total value = 611,164,500,000

Strike 159500 has a total call value of 3,471,000,000 versus a total put value of 600,439,500,000 Combined total value = 603,910,500,000

Strike 159750 has a total call value of 3,588,000,000 versus a total put value of 593,068,500,000 Combined total value = 596,656,500,000

Strike 160000 has a total call value of 3,705,000,000 versus a total put value of 585,697,500,000 Combined total value = 589,402,500,000

Strike 160250 has a total call value of 4,074,750,000 versus a total put value of 578,976,000,000 Combined total value = 583,050,750,000

Strike 160500 has a total call value of 4,444,500,000 versus a total put value of 572,254,500,000 Combined total value = 576,699,000,000

Strike 160750 has a total call value of 4,814,250,000 versus a total put value of 565,533,000,000 Combined total value = 570,347,250,000

Strike 161000 has a total call value of 5,184,000,000 versus a total put value of 558,811,500,000 Combined total value = 563,995,500,000

Strike 161250 has a total call value of 5,553,750,000 versus a total put value of 552,090,000,000 Combined total value = 557,643,750,000

Strike 161500 has a total call value of 5,923,500,000 versus a total put value of 545,368,500,000 Combined total value = 551,292,000,000

Strike 161750 has a total call value of 6,293,250,000 versus a total put value of 538,647,000,000 Combined total value = 544,940,250,000

Strike 162000 has a total call value of 6,663,000,000 versus a total put value of 531,925,500,000 Combined total value = 538,588,500,000

Strike 162250 has a total call value of 7,032,750,000 versus a total put value of 525,319,500,000 Combined total value = 532,352,250,000

Strike 162500 has a total call value of 7,402,500,000 versus a total put value of 518,713,500,000 Combined total value = 526,116,000,000

Strike 162750 has a total call value of 7,772,250,000 versus a total put value of 512,107,500,000 Combined total value = 519,879,750,000

Strike 163000 has a total call value of 8,142,000,000 versus a total put value of 505,501,500,000 Combined total value = 513,643,500,000

Strike 163250 has a total call value of 8,511,750,000 versus a total put value of 498,895,500,000 Combined total value = 507,407,250,000

Strike 163500 has a total call value of 8,881,500,000 versus a total put value of 492,289,500,000 Combined total value = 501,171,000,000

Strike 163750 has a total call value of 9,251,250,000 versus a total put value of 485,683,500,000 Combined total value = 494,934,750,000

Strike 164000 has a total call value of 9,621,000,000 versus a total put value of 479,077,500,000 Combined total value = 488,698,500,000

Strike 164250 has a total call value of 9,990,750,000 versus a total put value of 472,530,000,000 Combined total value = 482,520,750,000

Strike 164500 has a total call value of 10,360,500,000 versus a total put value of 465,982,500,000 Combined total value = 476,343,000,000

Strike 164750 has a total call value of 10,730,250,000 versus a total put value of 459,435,000,000 Combined total value = 470,165,250,000

Strike 165000 has a total call value of 11,100,000,000 versus a total put value of 452,887,500,000 Combined total value = 463,987,500,000

Strike 165250 has a total call value of 11,469,750,000 versus a total put value of 446,797,500,000 Combined total value = 458,267,250,000

Strike 165500 has a total call value of 11,839,500,000 versus a total put value of 440,707,500,000 Combined total value = 452,547,000,000

Strike 165750 has a total call value of 12,209,250,000 versus a total put value of 434,617,500,000 Combined total value = 446,826,750,000

Strike 166000 has a total call value of 12,579,000,000 versus a total put value of 428,527,500,000 Combined total value = 441,106,500,000

Strike 166250 has a total call value of 12,948,750,000 versus a total put value of 422,484,750,000 Combined total value = 435,433,500,000

Strike 166500 has a total call value of 13,318,500,000 versus a total put value of 416,442,000,000 Combined total value = 429,760,500,000

Strike 166750 has a total call value of 13,688,250,000 versus a total put value of 410,399,250,000 Combined total value = 424,087,500,000

Strike 167000 has a total call value of 14,058,000,000 versus a total put value of 404,356,500,000 Combined total value = 418,414,500,000

Strike 167250 has a total call value of 14,427,750,000 versus a total put value of 398,313,750,000 Combined total value = 412,741,500,000

Strike 167500 has a total call value of 14,797,500,000 versus a total put value of 392,271,000,000 Combined total value = 407,068,500,000

Strike 167750 has a total call value of 15,167,250,000 versus a total put value of 386,228,250,000 Combined total value = 401,395,500,000

Strike 168000 has a total call value of 15,537,000,000 versus a total put value of 380,185,500,000 Combined total value = 395,722,500,000

Strike 168250 has a total call value of 15,906,750,000 versus a total put value of 374,190,000,000 Combined total value = 390,096,750,000

Strike 168500 has a total call value of 16,276,500,000 versus a total put value of 368,194,500,000 Combined total value = 384,471,000,000

Strike 168750 has a total call value of 16,646,250,000 versus a total put value of 362,199,000,000 Combined total value = 378,845,250,000

Strike 169000 has a total call value of 17,016,000,000 versus a total put value of 356,203,500,000 Combined total value = 373,219,500,000

Strike 169250 has a total call value of 17,385,750,000 versus a total put value of 350,208,000,000 Combined total value = 367,593,750,000

Strike 169500 has a total call value of 17,755,500,000 versus a total put value of 344,212,500,000 Combined total value = 361,968,000,000

Strike 169750 has a total call value of 18,125,250,000 versus a total put value of 338,217,000,000 Combined total value = 356,342,250,000

Strike 170000 has a total call value of 18,495,000,000 versus a total put value of 332,221,500,000 Combined total value = 350,716,500,000

Strike 170250 has a total call value of 19,094,250,000 versus a total put value of 327,078,750,000 Combined total value = 346,173,000,000

Strike 170500 has a total call value of 19,693,500,000 versus a total put value of 321,936,000,000 Combined total value = 341,629,500,000

Strike 170750 has a total call value of 20,292,750,000 versus a total put value of 316,793,250,000 Combined total value = 337,086,000,000

Strike 171000 has a total call value of 20,892,000,000 versus a total put value of 311,650,500,000 Combined total value = 332,542,500,000

Strike 171250 has a total call value of 21,491,250,000 versus a total put value of 306,507,750,000 Combined total value = 327,999,000,000

Strike 171500 has a total call value of 22,090,500,000 versus a total put value of 301,365,000,000 Combined total value = 323,455,500,000

Strike 171750 has a total call value of 22,689,750,000 versus a total put value of 296,222,250,000 Combined total value = 318,912,000,000

Strike 172000 has a total call value of 23,289,000,000 versus a total put value of 291,079,500,000 Combined total value = 314,368,500,000

Strike 172250 has a total call value of 23,888,250,000 versus a total put value of 285,936,750,000 Combined total value = 309,825,000,000

Strike 172500 has a total call value of 24,487,500,000 versus a total put value of 280,794,000,000 Combined total value = 305,281,500,000

Strike 172750 has a total call value of 25,086,750,000 versus a total put value of 275,651,250,000 Combined total value = 300,738,000,000

Strike 173000 has a total call value of 25,686,000,000 versus a total put value of 270,508,500,000 Combined total value = 296,194,500,000

Strike 173250 has a total call value of 26,285,250,000 versus a total put value of 265,365,750,000 Combined total value = 291,651,000,000

Strike 173500 has a total call value of 26,884,500,000 versus a total put value of 260,223,000,000 Combined total value = 287,107,500,000

Strike 173750 has a total call value of 27,483,750,000 versus a total put value of 255,080,250,000 Combined total value = 282,564,000,000

Strike 174000 has a total call value of 28,083,000,000 versus a total put value of 249,937,500,000 Combined total value = 278,020,500,000

Strike 174250 has a total call value of 28,682,250,000 versus a total put value of 244,794,750,000 Combined total value = 273,477,000,000

Strike 174500 has a total call value of 29,281,500,000 versus a total put value of 239,652,000,000 Combined total value = 268,933,500,000

Strike 174750 has a total call value of 29,880,750,000 versus a total put value of 234,509,250,000 Combined total value = 264,390,000,000

Strike 175000 has a total call value of 30,480,000,000 versus a total put value of 229,366,500,000 Combined total value = 259,846,500,000

Strike 175250 has a total call value of 31,209,000,000 versus a total put value of 224,899,500,000 Combined total value = 256,108,500,000

Strike 175500 has a total call value of 31,938,000,000 versus a total put value of 220,432,500,000 Combined total value = 252,370,500,000

Strike 175750 has a total call value of 32,667,000,000 versus a total put value of 215,965,500,000 Combined total value = 248,632,500,000

Strike 176000 has a total call value of 33,396,000,000 versus a total put value of 211,498,500,000 Combined total value = 244,894,500,000

Strike 176250 has a total call value of 34,125,000,000 versus a total put value of 207,031,500,000 Combined total value = 241,156,500,000

Strike 176500 has a total call value of 34,854,000,000 versus a total put value of 202,564,500,000 Combined total value = 237,418,500,000

Strike 176750 has a total call value of 35,583,000,000 versus a total put value of 198,097,500,000 Combined total value = 233,680,500,000

Strike 177000 has a total call value of 36,312,000,000 versus a total put value of 193,630,500,000 Combined total value = 229,942,500,000

Strike 177250 has a total call value of 37,041,000,000 versus a total put value of 189,216,000,000 Combined total value = 226,257,000,000

Strike 177500 has a total call value of 37,770,000,000 versus a total put value of 184,801,500,000 Combined total value = 222,571,500,000

Strike 177750 has a total call value of 38,499,000,000 versus a total put value of 180,387,000,000 Combined total value = 218,886,000,000

Strike 178000 has a total call value of 39,228,000,000 versus a total put value of 175,972,500,000 Combined total value = 215,200,500,000

Strike 178250 has a total call value of 39,957,000,000 versus a total put value of 171,624,750,000 Combined total value = 211,581,750,000

Strike 178500 has a total call value of 40,686,000,000 versus a total put value of 167,277,000,000 Combined total value = 207,963,000,000

Strike 178750 has a total call value of 41,415,000,000 versus a total put value of 162,929,250,000 Combined total value = 204,344,250,000

Strike 179000 has a total call value of 42,144,000,000 versus a total put value of 158,581,500,000 Combined total value = 200,725,500,000

Strike 179250 has a total call value of 42,977,250,000 versus a total put value of 154,293,750,000 Combined total value = 197,271,000,000

Strike 179500 has a total call value of 43,810,500,000 versus a total put value of 150,006,000,000 Combined total value = 193,816,500,000

Strike 179750 has a total call value of 44,643,750,000 versus a total put value of 145,718,250,000 Combined total value = 190,362,000,000

Strike 180000 has a total call value of 45,477,000,000 versus a total put value of 141,430,500,000 Combined total value = 186,907,500,000

Strike 180250 has a total call value of 46,415,250,000 versus a total put value of 137,976,750,000 Combined total value = 184,392,000,000

Strike 180500 has a total call value of 47,353,500,000 versus a total put value of 134,523,000,000 Combined total value = 181,876,500,000

Strike 180750 has a total call value of 48,291,750,000 versus a total put value of 131,069,250,000 Combined total value = 179,361,000,000

Strike 181000 has a total call value of 49,230,000,000 versus a total put value of 127,615,500,000 Combined total value = 176,845,500,000

Strike 181250 has a total call value of 50,168,250,000 versus a total put value of 124,220,250,000 Combined total value = 174,388,500,000

Strike 181500 has a total call value of 51,106,500,000 versus a total put value of 120,825,000,000 Combined total value = 171,931,500,000

Strike 181750 has a total call value of 52,044,750,000 versus a total put value of 117,429,750,000 Combined total value = 169,474,500,000

Strike 182000 has a total call value of 52,983,000,000 versus a total put value of 114,034,500,000 Combined total value = 167,017,500,000

Strike 182250 has a total call value of 53,921,250,000 versus a total put value of 110,724,750,000 Combined total value = 164,646,000,000

Strike 182500 has a total call value of 54,859,500,000 versus a total put value of 107,415,000,000 Combined total value = 162,274,500,000

Strike 182750 has a total call value of 55,797,750,000 versus a total put value of 104,105,250,000 Combined total value = 159,903,000,000

Strike 183000 has a total call value of 56,736,000,000 versus a total put value of 100,795,500,000 Combined total value = 157,531,500,000

Strike 183250 has a total call value of 57,765,000,000 versus a total put value of 97,575,000,000 Combined total value = 155,340,000,000

Strike 183500 has a total call value of 58,794,000,000 versus a total put value of 94,354,500,000 Combined total value = 153,148,500,000

Strike 183750 has a total call value of 59,823,000,000 versus a total put value of 91,134,000,000 Combined total value = 150,957,000,000

Strike 184000 has a total call value of 60,852,000,000 versus a total put value of 87,913,500,000 Combined total value = 148,765,500,000

Strike 184250 has a total call value of 61,881,000,000 versus a total put value of 84,760,500,000 Combined total value = 146,641,500,000

Strike 184500 has a total call value of 62,910,000,000 versus a total put value of 81,607,500,000 Combined total value = 144,517,500,000

Strike 184750 has a total call value of 63,939,000,000 versus a total put value of 78,454,500,000 Combined total value = 142,393,500,000

Strike 185000 has a total call value of 64,968,000,000 versus a total put value of 75,301,500,000 Combined total value = 140,269,500,000

Strike 185250 has a total call value of 66,151,500,000 versus a total put value of 72,729,750,000 Combined total value = 138,881,250,000

Strike 185500 has a total call value of 67,335,000,000 versus a total put value of 70,158,000,000 Combined total value = 137,493,000,000

Strike 185750 has a total call value of 68,518,500,000 versus a total put value of 67,586,250,000 Combined total value = 136,104,750,000

Strike 186000 has a total call value of 69,702,000,000 versus a total put value of 65,014,500,000 Combined total value = 134,716,500,000

Strike 186250 has a total call value of 70,885,500,000 versus a total put value of 62,499,000,000 Combined total value = 133,384,500,000

Strike 186500 has a total call value of 72,069,000,000 versus a total put value of 59,983,500,000 Combined total value = 132,052,500,000

Strike 186750 has a total call value of 73,252,500,000 versus a total put value of 57,468,000,000 Combined total value = 130,720,500,000

Strike 187000 has a total call value of 74,436,000,000 versus a total put value of 54,952,500,000 Combined total value = 129,388,500,000

Strike 187250 has a total call value of 75,619,500,000 versus a total put value of 52,491,750,000 Combined total value = 128,111,250,000

Strike 187500 has a total call value of 76,803,000,000 versus a total put value of 50,031,000,000 Combined total value = 126,834,000,000

Strike 187750 has a total call value of 77,986,500,000 versus a total put value of 47,570,250,000 Combined total value = 125,556,750,000

Strike 188000 has a total call value of 79,170,000,000 versus a total put value of 45,109,500,000 Combined total value = 124,279,500,000

Strike 188250 has a total call value of 80,371,500,000 versus a total put value of 42,743,250,000 Combined total value = 123,114,750,000

Strike 188500 has a total call value of 81,573,000,000 versus a total put value of 40,377,000,000 Combined total value = 121,950,000,000

Strike 188750 has a total call value of 82,774,500,000 versus a total put value of 38,010,750,000 Combined total value = 120,785,250,000

Strike 189000 has a total call value of 83,976,000,000 versus a total put value of 35,644,500,000 Combined total value = 119,620,500,000

Strike 189250 has a total call value of 85,191,750,000 versus a total put value of 33,364,500,000 Combined total value = 118,556,250,000

Strike 189500 has a total call value of 86,407,500,000 versus a total put value of 31,084,500,000 Combined total value = 117,492,000,000

Strike 189750 has a total call value of 87,623,250,000 versus a total put value of 28,804,500,000 Combined total value = 116,427,750,000

Strike 190000 has a total call value of 88,839,000,000 versus a total put value of 26,524,500,000 Combined total value = 115,363,500,000

Strike 190250 has a total call value of 90,425,250,000 versus a total put value of 25,168,500,000 Combined total value = 115,593,750,000

Strike 190500 has a total call value of 92,011,500,000 versus a total put value of 23,812,500,000 Combined total value = 115,824,000,000

Strike 190750 has a total call value of 93,597,750,000 versus a total put value of 22,456,500,000 Combined total value = 116,054,250,000

Strike 191000 has a total call value of 95,184,000,000 versus a total put value of 21,100,500,000 Combined total value = 116,284,500,000

Strike 191250 has a total call value of 96,770,250,000 versus a total put value of 19,824,750,000 Combined total value = 116,595,000,000

Strike 191500 has a total call value of 98,356,500,000 versus a total put value of 18,549,000,000 Combined total value = 116,905,500,000

Strike 191750 has a total call value of 99,942,750,000 versus a total put value of 17,273,250,000 Combined total value = 117,216,000,000

Strike 192000 has a total call value of 101,529,000,000 versus a total put value of 15,997,500,000 Combined total value = 117,526,500,000

Strike 192250 has a total call value of 103,248,750,000 versus a total put value of 14,850,750,000 Combined total value = 118,099,500,000

Strike 192500 has a total call value of 104,968,500,000 versus a total put value of 13,704,000,000 Combined total value = 118,672,500,000

Strike 192750 has a total call value of 106,688,250,000 versus a total put value of 12,557,250,000 Combined total value = 119,245,500,000

Strike 193000 has a total call value of 108,408,000,000 versus a total put value of 11,410,500,000 Combined total value = 119,818,500,000

Strike 193250 has a total call value of 110,201,250,000 versus a total put value of 10,333,500,000 Combined total value = 120,534,750,000

Strike 193500 has a total call value of 111,994,500,000 versus a total put value of 9,256,500,000 Combined total value = 121,251,000,000

Strike 193750 has a total call value of 113,787,750,000 versus a total put value of 8,179,500,000 Combined total value = 121,967,250,000

Strike 194000 has a total call value of 115,581,000,000 versus a total put value of 7,102,500,000 Combined total value = 122,683,500,000

Strike 194250 has a total call value of 117,409,500,000 versus a total put value of 6,090,000,000 Combined total value = 123,499,500,000

Strike 194500 has a total call value of 119,238,000,000 versus a total put value of 5,077,500,000 Combined total value = 124,315,500,000

Strike 194750 has a total call value of 121,066,500,000 versus a total put value of 4,065,000,000 Combined total value = 125,131,500,000

Strike 195000 has a total call value of 122,895,000,000 versus a total put value of 3,052,500,000 Combined total value = 125,947,500,000

Strike 195250 has a total call value of 124,962,000,000 versus a total put value of 2,708,250,000 Combined total value = 127,670,250,000

Strike 195500 has a total call value of 127,029,000,000 versus a total put value of 2,364,000,000 Combined total value = 129,393,000,000

Strike 195750 has a total call value of 129,096,000,000 versus a total put value of 2,019,750,000 Combined total value = 131,115,750,000

Strike 196000 has a total call value of 131,163,000,000 versus a total put value of 1,675,500,000 Combined total value = 132,838,500,000

Strike 196250 has a total call value of 133,256,250,000 versus a total put value of 1,406,250,000 Combined total value = 134,662,500,000

Strike 196500 has a total call value of 135,349,500,000 versus a total put value of 1,137,000,000 Combined total value = 136,486,500,000

Strike 196750 has a total call value of 137,442,750,000 versus a total put value of 867,750,000 Combined total value = 138,310,500,000

Strike 197000 has a total call value of 139,536,000,000 versus a total put value of 598,500,000 Combined total value = 140,134,500,000

Strike 197250 has a total call value of 141,654,000,000 versus a total put value of 450,000,000 Combined total value = 142,104,000,000

Strike 197500 has a total call value of 143,772,000,000 versus a total put value of 301,500,000 Combined total value = 144,073,500,000

Strike 197750 has a total call value of 145,890,000,000 versus a total put value of 153,000,000 Combined total value = 146,043,000,000

Strike 198000 has a total call value of 148,008,000,000 versus a total put value of 4,500,000 Combined total value = 148,012,500,000

Strike 198250 has a total call value of 150,324,750,000 versus a total put value of 0 Combined total value = 150,324,750,000

Max-Pain Table for Stocks

Max-Pain Table Expiry

Note:- click on symbol to see more detailed view

Max Pain Table (Stocks)
Symbol	Symbol Ltp	Max Pain
360ONE	1139.2	1140
ABB	5136.5	5200
ABCAPITAL	348	350
ADANIENSOL	987.65	990
ADANIENT	2242.4	2300
ADANIGREEN	1019.7	1020
ADANIPORTS	1490.9	1500
ALKEM	5564.5	5700
AMBER	6593	6800
AMBUJACEM	539.5	550
ANGELONE	2486	2550
APLAPOLLO	1792.2	1760
APOLLOHOSP	6931.5	7100
ASHOKLEY	169.7	160
ASIANPAINT	2766.6	2800
ASTRAL	1425	1460
AUBANK	987.6	960
AUROPHARMA	1210.4	1200
AXISBANK	1236	1240
BAJAJ-AUTO	8820	9000
BAJAJFINSV	2031.8	2060
BAJFINANCE	1005.2	1020
BANDHANBNK	146.76	150
BANKBARODA	290.4	290
BANKINDIA	143.19	143
BDL	1344.8	1380
BEL	384.85	400
BHARATFORG	1406	1400
BHARTIARTL	2107.9	2100
BHEL	274.1	280
BIOCON	392.9	390
BLUESTARCO	1850.5	1800
BOSCHLTD	35680	36000
BPCL	362.25	365
BRITANNIA	6030.5	6000
BSE	2688	2700
CAMS	742.5	770
CANBK	150.58	150
CDSL	1487.4	1540
CGPOWER	668.2	680
CHOLAFIN	1686.1	1700
CIPLA	1501.2	1520
COALINDIA	385.5	384.75
COFORGE	1844.2	1840
COLPAL	2088.2	2160
CONCOR	498.35	520
CROMPTON	259.15	265
CUMMINSIND	4381.9	4400
CYIENT	1143.3	1140
DABUR	493	500
DALBHARAT	2042.9	2040
DELHIVERY	401.15	410
DIVISLAB	6384.5	6400
DIXON	13335	13750
DLF	684.9	710
DMART	3774.5	3900
DRREDDY	1275.4	1270
EICHERMOT	7101.5	7100
ETERNAL	284.5	290
EXIDEIND	360.15	370
FEDERALBNK	265.5	260
FORTIS	866.35	890
GAIL	168.01	175
GLENMARK	1952.6	1940
GMRAIRPORT	100.25	102
GODREJCP	1181.3	1160
GODREJPROP	2004.6	2060
GRASIM	2819.9	2800
HAL	4258.9	4450
HAVELLS	1407.4	1440
HCLTECH	1661.3	1660
HDFCAMC	2708.2	2660
HDFCBANK	982.6	995
HDFCLIFE	757.15	770
HEROMOTOCO	5744	5900
HFCL	65.15	67
HINDALCO	861.7	820
HINDPETRO	463.15	460
HINDUNILVR	2275.4	2300
HINDZINC	592.9	560
HUDCO	208.33	220
ICICIBANK	1364.5	1370
ICICIGI	1952.1	1960
ICICIPRULI	641.65	630
IDEA	11.51	11
IDFCFIRSTB	84.15	82
IEX	141.19	145
IIFL	565.4	560
INDHOTEL	719.6	730
INDIANB	781.55	820
INDIGO	5106	5050
INDUSINDBK	838.65	850
INDUSTOWER	410	410
INFY	1624.7	1600
INOXWIND	125.3	130
IOC	162.26	162
IRCTC	665.8	690
IREDA	132.14	140
IRFC	111.82	116
ITC	401.2	405
JINDALSTEL	993.9	1020
JIOFIN	292.8	305
JSWENERGY	472.6	490
JSWSTEEL	1088.9	1120
JUBLFOOD	558.6	580
KALYANKJIL	471.15	480
KAYNES	4121	4300
KEI	4079.6	4100
KFINTECH	1056	1060
KOTAKBANK	2172.3	2160
KPITTECH	1163.6	1200
LAURUSLABS	1012.5	1000
LICHSGFIN	527.8	550
LICI	842.65	870
LODHA	1072.8	1100
LT	4057.4	4040
LTF	302.4	302.5
LTIM	6225.5	6200
LUPIN	2121.1	2100
M&M	3576.1	3650
MANAPPURAM	290.2	280
MANKIND	2121	2200
MARICO	742.1	740
MARUTI	16367	16200
MAXHEALTH	1052.9	1080
MAZDOCK	2370.9	2500
MCX	10155	10000
MFSL	1679.2	1680
MOTHERSON	117.25	116
MPHASIS	2893.4	2900
MUTHOOTFIN	3769.4	3750
NATIONALUM	282	270
NAUKRI	1345.7	1360
NBCC	108.37	111
NCC	154.79	165
NESTLEIND	1243.1	1240
NHPC	75.01	78
NMDC	77.05	77
NTPC	318.15	325
NUVAMA	7337	7300
NYKAA	243.75	252.5
OBEROIRLTY	1666	1660
OFSS	7715.5	8000
OIL	399	410
ONGC	232.64	237.5
PAGEIND	35885	37000
PATANJALI	553.05	550
PAYTM	1279.9	1300
PERSISTENT	6307.5	6300
PETRONET	268.3	278
PFC	336.25	355
PGEL	568.65	560
PHOENIXLTD	1803.8	1760
PIDILITIND	1450.9	1480
PIIND	3209.7	3300
PNB	119.43	120
PNBHOUSING	902.5	900
POLICYBZR	1820.1	1840
POLYCAB	7126.5	7200
POWERGRID	257.05	270
POWERINDIA	18315	19000
PPLPHARMA	166.3	177.5
PRESTIGE	1605	1640
RBLBANK	300.6	305
RECLTD	337.4	350
RELIANCE	1548.7	1540
RVNL	306.4	310
SAIL	129.7	132
SAMMAANCAP	146	155
SBICARD	851.85	870
SBILIFE	2015	2020
SBIN	979.45	970
SHREECEM	25830	26500
SHRIRAMFIN	872.8	850
SIEMENS	3078.9	3150
SOLARINDS	11766	12500
SONACOMS	485.8	500
SRF	3037.2	3000
SUNPHARMA	1738	1760
SUPREMEIND	3341.9	3400
SUZLON	51.79	54
SYNGENE	654.7	650
TATACONSUM	1180	1180
TATAELXSI	4998.5	5000
TATAMOTORS	0	320
TATAPOWER	375.1	390
TATASTEEL	169.74	170
TATATECH	644.2	670
TCS	3276	3200
TECHM	1593.7	1560
TIINDIA	2592.5	2700
TITAGARH	774.35	800
TITAN	3912	3860
TMPV	344.85	360
TORNTPHARM	3731.1	3750
TORNTPOWER	1259.5	1300
TRENT	4019.1	4200
TVSMOTOR	3587.7	3600
ULTRACEMCO	11508	11600
UNIONBANK	155.02	155
UNITDSPR	1397.2	1440
UNOMINDA	1233.7	1280
UPL	747.5	750
VBL	471.3	470
VEDL	580.75	550
VOLTAS	1414	1380
WIPRO	263.16	257.5
YESBANK	21.55	22
ZYDUSLIFE	915.3	930

Note:

Stock LTP > Max Pain	Bearish Trend
Stock LTP < Max Pain	Bullish Trend

Frequently Asked Questions

Max Pain, also known as the max pain price, is the strike price at which the maximum number of option contracts (both puts and calls) would expire worthless, causing the largest financial losses for option holders at expiration. This price point represents the level where option writers would experience the least payout obligation.

The max pain theory suggests that as expiration approaches, market makers and option writers may attempt to influence the stock price toward this level to minimize their payout obligations, making it a significant reference point for traders analyzing option expiration dynamics.

Max Pain is calculated by determining the total dollar value of in-the-money options at each strike price. Here's the step-by-step process:

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

This calculation helps identify the price level where option writers would face the maximum financial loss if the stock closes at that price on expiration day.

Traders can incorporate Max Pain analysis into their trading strategy in several ways:

Expiration Day Trading: As option expiration approaches, traders can use Max Pain as a potential support or resistance level, as market makers may attempt to push the price toward this level.
Option Selection: Understanding Max Pain helps traders choose strike prices that are less likely to be manipulated, potentially improving their option trade outcomes.
Risk Management: If a stock is trading far from Max Pain before expiration, traders can anticipate potential price movement toward this level and adjust their positions accordingly.
Market Sentiment Indicator: Comparing the current stock price to Max Pain can provide insights into market sentiment and potential price direction near expiration.
Hedging Strategy: Option writers can use Max Pain to identify strike prices where they might face the least payout risk, helping them structure more efficient hedging strategies.

Max Pain provides insights into potential stock price behavior, especially near option expiration:

Price Magnet Effect: If the stock price is significantly above or below Max Pain before expiration, there may be a tendency for the price to move toward Max Pain as expiration approaches, as option writers hedge their positions.
Support/Resistance Level: Max Pain can act as a psychological and technical support or resistance level, especially on expiration day, as it represents the price where maximum option value would be lost.
Volatility Indicator: A large gap between current price and Max Pain may indicate higher potential volatility or price movement as expiration nears.
Market Maker Activity: Significant open interest concentration around Max Pain suggests where market makers might have the most incentive to influence price movement through their hedging activities.

Note: Max Pain is a theoretical concept and should be used in conjunction with other technical and fundamental analysis tools, as it does not guarantee price movement.

Max Pain is a dynamic value that changes continuously based on several factors:

Open Interest Changes: As traders open and close option positions, the open interest at different strike prices changes, which directly affects the Max Pain calculation.
Stock Price Movement: As the underlying stock price moves, different strike prices become in-the-money or out-of-the-money, altering the dollar value calculations.
Time Decay: As expiration approaches, the time value of options decreases, but the intrinsic value calculations for Max Pain continue to evolve with price movements.
New Option Contracts: When new strike prices are added or when significant new positions are opened, Max Pain may shift to reflect the new distribution of open interest.

For accurate Max Pain analysis, traders should monitor it regularly, especially in the days leading up to expiration, as it can shift significantly as market conditions and option positions change.

Max Pain and Spot Price are two distinct concepts that serve different purposes in options trading:

Spot Price (Current Market Price): This is the current trading price of the underlying stock or index in the market. It represents the real-time value at which the asset can be bought or sold immediately.
Max Pain Price: This is a calculated theoretical price level based on option open interest data. It represents the strike price where option writers would face minimum payout obligations, not necessarily where the stock is currently trading.

The relationship between these two prices is crucial: when the spot price is far from Max Pain, traders may anticipate potential price movement toward Max Pain as expiration approaches. However, this is not guaranteed, and many other factors influence stock price movement.

No, Max Pain is not always accurate and should not be used as the sole indicator for predicting stock price movement. Here's why:

Market Forces: Strong fundamental news, earnings reports, or significant market events can override the Max Pain effect and drive prices in unexpected directions.
Institutional Activity: Large institutional trades, algorithmic trading, and other market participants may have different objectives than minimizing option payouts.
Limited Influence: While market makers may attempt to influence price toward Max Pain, their ability to do so is limited, especially in highly liquid stocks with strong directional momentum.
Multiple Expirations: Stocks often have options expiring on different dates (weekly, monthly), which means multiple Max Pain levels may exist simultaneously, reducing the predictive power of any single level.
Statistical Tool: Max Pain is best viewed as a statistical tool that provides context about option market dynamics rather than a guaranteed price target.

Traders should use Max Pain as one of many tools in their analysis, combining it with technical analysis, fundamental analysis, and market sentiment indicators for more comprehensive decision-making.

Max Pain becomes increasingly relevant as option expiration approaches:

Last Trading Week: Max Pain analysis is most useful during the final week before expiration, when option writers are actively hedging and the "pinning effect" (price movement toward Max Pain) is most likely to occur.
Expiration Day: On the day of expiration, Max Pain can serve as a key reference level, as market makers may attempt to keep the stock price near this level to minimize their payout obligations.
High Open Interest: Max Pain is more reliable when there is significant open interest concentrated around specific strike prices, as this indicates where option writers have the most exposure.
Low Volatility Periods: During periods of low market volatility, Max Pain may have a stronger influence, as there are fewer competing forces driving price movement.
Monthly Expirations: Monthly option expirations (typically the third Friday) often show stronger Max Pain effects compared to weekly expirations, due to higher open interest and more significant market maker involvement.

While Max Pain can be calculated at any time, its predictive value and practical application increase significantly as expiration approaches, making it particularly useful for short-term trading strategies focused on expiration week dynamics.

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