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VEDL

Vedanta Limited
529.35 +5.15 (0.98%)
L: 525.1 H: 534.5
Max Pain - VEDL
11 Dec 2025 02:36 PM IST
Live


Strike  400  has a total call value of 0  versus a total put value of  260,419,800,000 Combined total value = 260,419,800,000

Strike  405  has a total call value of 0  versus a total put value of  247,710,575,000 Combined total value = 247,710,575,000

Strike  410  has a total call value of 0  versus a total put value of  235,001,350,000 Combined total value = 235,001,350,000

Strike  415  has a total call value of 0  versus a total put value of  222,292,125,000 Combined total value = 222,292,125,000

Strike  420  has a total call value of 0  versus a total put value of  209,582,900,000 Combined total value = 209,582,900,000

Strike  425  has a total call value of 89,125,000  versus a total put value of  197,264,675,000 Combined total value = 197,353,800,000

Strike  430  has a total call value of 178,250,000  versus a total put value of  184,946,450,000 Combined total value = 185,124,700,000

Strike  435  has a total call value of 268,525,000  versus a total put value of  172,777,725,000 Combined total value = 173,046,250,000

Strike  440  has a total call value of 358,800,000  versus a total put value of  160,609,000,000 Combined total value = 160,967,800,000

Strike  445  has a total call value of 485,300,000  versus a total put value of  148,584,025,000 Combined total value = 149,069,325,000

Strike  450  has a total call value of 611,800,000  versus a total put value of  136,559,050,000 Combined total value = 137,170,850,000

Strike  455  has a total call value of 818,800,000  versus a total put value of  125,061,925,000 Combined total value = 125,880,725,000

Strike  460  has a total call value of 1,026,375,000  versus a total put value of  113,613,675,000 Combined total value = 114,640,050,000

Strike  465  has a total call value of 1,261,550,000  versus a total put value of  102,609,900,000 Combined total value = 103,871,450,000

Strike  470  has a total call value of 1,511,675,000  versus a total put value of  91,710,775,000 Combined total value = 93,222,450,000

Strike  475  has a total call value of 1,802,625,000  versus a total put value of  81,157,225,000 Combined total value = 82,959,850,000

Strike  480  has a total call value of 2,104,500,000  versus a total put value of  70,775,025,000 Combined total value = 72,879,525,000

Strike  485  has a total call value of 2,611,075,000  versus a total put value of  60,983,925,000 Combined total value = 63,595,000,000

Strike  490  has a total call value of 3,126,275,000  versus a total put value of  51,566,575,000 Combined total value = 54,692,850,000

Strike  495  has a total call value of 3,790,400,000  versus a total put value of  42,827,725,000 Combined total value = 46,618,125,000

Strike  500  has a total call value of 4,579,300,000  versus a total put value of  34,321,175,000 Combined total value = 38,900,475,000

Strike  505  has a total call value of 6,210,000,000  versus a total put value of  27,576,425,000 Combined total value = 33,786,425,000

Strike  510  has a total call value of 8,029,875,000  versus a total put value of  21,415,300,000 Combined total value = 29,445,175,000

Strike  515  has a total call value of 10,919,825,000  versus a total put value of  16,278,825,000 Combined total value = 27,198,650,000

Strike  520  has a total call value of 14,178,350,000  versus a total put value of  11,770,250,000 Combined total value = 25,948,600,000

Strike  525  has a total call value of 18,918,650,000  versus a total put value of  8,709,525,000 Combined total value = 27,628,175,000

Strike  530  has a total call value of 24,327,675,000  versus a total put value of  6,256,575,000 Combined total value = 30,584,250,000

Strike  535  has a total call value of 31,179,375,000  versus a total put value of  4,631,050,000 Combined total value = 35,810,425,000

Strike  540  has a total call value of 38,677,950,000  versus a total put value of  3,237,825,000 Combined total value = 41,915,775,000

Strike  545  has a total call value of 47,620,350,000  versus a total put value of  2,224,675,000 Combined total value = 49,845,025,000

Strike  550  has a total call value of 57,137,750,000  versus a total put value of  1,269,600,000 Combined total value = 58,407,350,000

Strike  555  has a total call value of 69,087,975,000  versus a total put value of  838,925,000 Combined total value = 69,926,900,000

Strike  560  has a total call value of 81,635,625,000  versus a total put value of  428,950,000 Combined total value = 82,064,575,000

Strike  565  has a total call value of 95,505,200,000  versus a total put value of  326,600,000 Combined total value = 95,831,800,000

Strike  570  has a total call value of 109,642,725,000  versus a total put value of  244,375,000 Combined total value = 109,887,100,000

Strike  575  has a total call value of 124,415,050,000  versus a total put value of  192,050,000 Combined total value = 124,607,100,000

Strike  580  has a total call value of 139,325,375,000  versus a total put value of  150,650,000 Combined total value = 139,476,025,000

Strike  585  has a total call value of 154,932,025,000  versus a total put value of  112,125,000 Combined total value = 155,044,150,000

Strike  590  has a total call value of 170,599,625,000  versus a total put value of  73,600,000 Combined total value = 170,673,225,000

Strike  595  has a total call value of 186,662,250,000  versus a total put value of  36,800,000 Combined total value = 186,699,050,000

Strike  600  has a total call value of 202,724,875,000  versus a total put value of  0 Combined total value = 202,724,875,000

Strike  605  has a total call value of 221,270,350,000  versus a total put value of  0 Combined total value = 221,270,350,000

Strike  610  has a total call value of 239,815,825,000  versus a total put value of  0 Combined total value = 239,815,825,000

Max-Pain Table for Stocks
  Note:- click on symbol to see more detailed view
Max Pain Table (Stocks)
Symbol Symbol Ltp Max Pain
360ONE 1132.4 1140
ABB 5228.5 5200
ABCAPITAL 354.95 350
ADANIENSOL 999.65 980
ADANIENT 2274.2 2300
ADANIGREEN 1014.3 1020
ADANIPORTS 1508.8 1500
ALKEM 5619.5 5700
AMBER 6525.5 6700
AMBUJACEM 534.05 550
ANGELONE 2570.9 2600
APLAPOLLO 1723.1 1740
APOLLOHOSP 7013 7200
ASHOKLEY 160.1 157
ASIANPAINT 2786.8 2840
ASTRAL 1402.3 1440
AUBANK 973.45 950
AUROPHARMA 1170.3 1200
AXISBANK 1276 1280
BAJAJ-AUTO 9064 9100
BAJAJFINSV 2066.7 2080
BAJFINANCE 1005.8 1020
BANDHANBNK 144.52 150
BANKBARODA 285 290
BANKINDIA 140.85 144
BDL 1411.5 1460
BEL 386.85 400
BHARATFORG 1403.9 1400
BHARTIARTL 2052.4 2100
BHEL 276.5 280
BIOCON 380.75 390
BLUESTARCO 1750.2 1760
BOSCHLTD 36830 37000
BPCL 350.4 360
BRITANNIA 5845 5850
BSE 2686.7 2750
CAMS 753.2 780
CANBK 146.73 148
CDSL 1519 1580
CGPOWER 666.7 680
CHOLAFIN 1718 1700
CIPLA 1510.4 1520
COALINDIA 384.7 384.75
COFORGE 1838 1840
COLPAL 2153.3 2200
CONCOR 504.85 520
CROMPTON 252 265
CUMMINSIND 4535.2 4500
CYIENT 1151 1160
DABUR 502.3 510
DALBHARAT 1981.2 2000
DELHIVERY 411.4 420
DIVISLAB 6418 6400
DIXON 12860 13500
DLF 691 720
DMART 3820.6 3950
DRREDDY 1272.9 1270
EICHERMOT 7272.5 7200
ETERNAL 290.75 300
EXIDEIND 372.9 380
FEDERALBNK 261.15 257.5
FORTIS 852.05 900
GAIL 169.15 175
GLENMARK 1953.9 1940
GMRAIRPORT 98.36 101
GODREJCP 1142.9 1140
GODREJPROP 2033.1 2080
GRASIM 2798.3 2780
HAL 4320 4500
HAVELLS 1400 1440
HCLTECH 1668.8 1660
HDFCAMC 2662.2 2650
HDFCBANK 1002 1000
HDFCLIFE 771.7 770
HEROMOTOCO 5986 6100
HFCL 67.13 70
HINDALCO 823.85 810
HINDPETRO 447.55 455
HINDUNILVR 2301.5 2320
HINDZINC 521.95 505
HUDCO 212.55 225
ICICIBANK 1361.5 1380
ICICIGI 1934.1 1980
ICICIPRULI 634.35 630
IDEA 11.18 10
IDFCFIRSTB 80.38 80
IEX 142.1 145
IIFL 569.25 560
INDHOTEL 725.75 740
INDIANB 780.75 820
INDIGO 4804.5 5000
INDUSINDBK 834.35 850
INDUSTOWER 410.8 405
INFY 1594.5 1600
INOXWIND 121.4 130
IOC 161.52 164
IRCTC 669.25 690
IREDA 134.29 140
IRFC 113.09 117
ITC 403.15 405
JINDALSTEL 1011.6 1020
JIOFIN 297.35 305
JSWENERGY 458 480
JSWSTEEL 1103.9 1140
JUBLFOOD 595.65 600
KALYANKJIL 470.45 480
KAYNES 4025 4400
KEI 4052.5 4050
KFINTECH 1071.4 1080
KOTAKBANK 2187 2160
KPITTECH 1229 1220
LAURUSLABS 1021.7 1000
LICHSGFIN 532.55 550
LICI 859.2 890
LODHA 1079.6 1120
LT 4007 4000
LTF 301.15 302.5
LTIM 6283 6150
LUPIN 2079.5 2060
M&M 3657.7 3700
MANAPPURAM 282.25 280
MANKIND 2157.5 2200
MARICO 723.9 730
MARUTI 16238 16200
MAXHEALTH 1083.7 1120
MAZDOCK 2465.5 2600
MCX 9929 10000
MFSL 1705.3 1700
MOTHERSON 119.54 115
MPHASIS 2898.7 2900
MUTHOOTFIN 3736.8 3700
NATIONALUM 263.5 265
NAUKRI 1343.1 1360
NBCC 108.22 111
NCC 160.86 170
NESTLEIND 1215.8 1240
NHPC 76.62 78
NMDC 75.36 76
NTPC 322.3 325
NUVAMA 7237 7200
NYKAA 249.3 257.5
OBEROIRLTY 1632.9 1660
OFSS 8009 8100
OIL 404.35 415
ONGC 238.93 241.5
PAGEIND 37110 38000
PATANJALI 531.5 550
PAYTM 1279.9 1300
PERSISTENT 6147 6200
PETRONET 270.95 280
PFC 341.85 360
PGEL 550.15 560
PHOENIXLTD 1744.4 1740
PIDILITIND 1465.4 1480
PIIND 3372.1 3450
PNB 117.46 120
PNBHOUSING 901.1 900
POLICYBZR 1937 1900
POLYCAB 7218 7300
POWERGRID 265.05 275
POWERINDIA 19100 19500
PPLPHARMA 171.9 182.5
PRESTIGE 1643.4 1660
RBLBANK 310.4 310
RECLTD 343.1 360
RELIANCE 1545.7 1540
RVNL 312.5 315
SAIL 129.3 134
SAMMAANCAP 145.68 160
SBICARD 872.55 880
SBILIFE 2016.6 2020
SBIN 964.95 970
SHREECEM 26150 26500
SHRIRAMFIN 846.75 840
SIEMENS 3178.5 3250
SOLARINDS 12451 13000
SONACOMS 483.2 500
SRF 2942 2900
SUNPHARMA 1805.9 1800
SUPREMEIND 3214.6 3400
SUZLON 51.91 54
SYNGENE 640.7 640
TATACONSUM 1146.8 1170
TATAELXSI 5007.5 5100
TATAMOTORS 0 320
TATAPOWER 381.2 390
TATASTEEL 165.91 170
TATATECH 651.45 680
TCS 3188.6 3200
TECHM 1563.7 1540
TIINDIA 2650.5 2750
TITAGARH 769.35 800
TITAN 3853.5 3840
TMPV 347.15 360
TORNTPHARM 3791.1 3750
TORNTPOWER 1283.2 1300
TRENT 4026.1 4200
TVSMOTOR 3620.4 3600
ULTRACEMCO 11440 11600
UNIONBANK 150.69 152.5
UNITDSPR 1436.2 1440
UNOMINDA 1234.1 1280
UPL 745.65 750
VBL 476.65 470
VEDL 529.35 520
VOLTAS 1352.6 1360
WIPRO 258.9 255
YESBANK 21.94 23
ZYDUSLIFE 922.3 940

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:

  1. For each strike price: Calculate the difference between the current stock price and the strike price.
  2. Multiply by Open Interest: Multiply this difference by the open interest (number of contracts) at that strike for both call and put options.
  3. Sum the values: Add together the dollar value for put options and call options at each strike price.
  4. Repeat for all strikes: Perform this calculation for every available strike price in the option chain.
  5. 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.