[--[65.84.65.76]--]

VEDL

Vedanta Limited
549.2 +5.60 (1.03%)
L: 539.35 H: 549.9
Max Pain - VEDL
15 Dec 2025 01:57 PM IST
Live


Strike  420  has a total call value of 0  versus a total put value of  288,959,925,000 Combined total value = 288,959,925,000

Strike  425  has a total call value of 0  versus a total put value of  273,472,875,000 Combined total value = 273,472,875,000

Strike  430  has a total call value of 0  versus a total put value of  257,985,825,000 Combined total value = 257,985,825,000

Strike  435  has a total call value of 0  versus a total put value of  242,640,800,000 Combined total value = 242,640,800,000

Strike  440  has a total call value of 0  versus a total put value of  227,295,775,000 Combined total value = 227,295,775,000

Strike  445  has a total call value of 0  versus a total put value of  212,091,050,000 Combined total value = 212,091,050,000

Strike  450  has a total call value of 0  versus a total put value of  196,886,325,000 Combined total value = 196,886,325,000

Strike  455  has a total call value of 80,500,000  versus a total put value of  182,174,375,000 Combined total value = 182,254,875,000

Strike  460  has a total call value of 161,000,000  versus a total put value of  167,462,425,000 Combined total value = 167,623,425,000

Strike  465  has a total call value of 269,100,000  versus a total put value of  153,152,400,000 Combined total value = 153,421,500,000

Strike  470  has a total call value of 377,200,000  versus a total put value of  138,937,825,000 Combined total value = 139,315,025,000

Strike  475  has a total call value of 527,850,000  versus a total put value of  125,048,125,000 Combined total value = 125,575,975,000

Strike  480  has a total call value of 678,500,000  versus a total put value of  111,297,000,000 Combined total value = 111,975,500,000

Strike  485  has a total call value of 1,001,650,000  versus a total put value of  98,092,700,000 Combined total value = 99,094,350,000

Strike  490  has a total call value of 1,324,800,000  versus a total put value of  85,162,675,000 Combined total value = 86,487,475,000

Strike  495  has a total call value of 1,764,675,000  versus a total put value of  72,781,200,000 Combined total value = 74,545,875,000

Strike  500  has a total call value of 2,204,550,000  versus a total put value of  60,610,750,000 Combined total value = 62,815,300,000

Strike  505  has a total call value of 3,429,300,000  versus a total put value of  50,533,300,000 Combined total value = 53,962,600,000

Strike  510  has a total call value of 4,822,525,000  versus a total put value of  41,004,400,000 Combined total value = 45,826,925,000

Strike  515  has a total call value of 6,987,975,000  versus a total put value of  32,419,650,000 Combined total value = 39,407,625,000

Strike  520  has a total call value of 9,451,275,000  versus a total put value of  24,438,650,000 Combined total value = 33,889,925,000

Strike  525  has a total call value of 12,961,075,000  versus a total put value of  18,004,400,000 Combined total value = 30,965,475,000

Strike  530  has a total call value of 16,980,900,000  versus a total put value of  12,514,300,000 Combined total value = 29,495,200,000

Strike  535  has a total call value of 21,965,575,000  versus a total put value of  8,264,475,000 Combined total value = 30,230,050,000

Strike  540  has a total call value of 27,455,100,000  versus a total put value of  5,035,275,000 Combined total value = 32,490,375,000

Strike  545  has a total call value of 34,789,225,000  versus a total put value of  3,213,100,000 Combined total value = 38,002,325,000

Strike  550  has a total call value of 42,829,450,000  versus a total put value of  1,702,000,000 Combined total value = 44,531,450,000

Strike  555  has a total call value of 53,300,200,000  versus a total put value of  1,034,425,000 Combined total value = 54,334,625,000

Strike  560  has a total call value of 64,172,300,000  versus a total put value of  481,850,000 Combined total value = 64,654,150,000

Strike  565  has a total call value of 76,549,750,000  versus a total put value of  334,075,000 Combined total value = 76,883,825,000

Strike  570  has a total call value of 89,507,950,000  versus a total put value of  241,500,000 Combined total value = 89,749,450,000

Strike  575  has a total call value of 103,604,650,000  versus a total put value of  201,250,000 Combined total value = 103,805,900,000

Strike  580  has a total call value of 117,998,050,000  versus a total put value of  161,000,000 Combined total value = 118,159,050,000

Strike  585  has a total call value of 133,353,425,000  versus a total put value of  120,750,000 Combined total value = 133,474,175,000

Strike  590  has a total call value of 148,851,975,000  versus a total put value of  80,500,000 Combined total value = 148,932,475,000

Strike  595  has a total call value of 164,751,875,000  versus a total put value of  40,250,000 Combined total value = 164,792,125,000

Strike  600  has a total call value of 180,651,775,000  versus a total put value of  0 Combined total value = 180,651,775,000

Strike  605  has a total call value of 199,259,350,000  versus a total put value of  0 Combined total value = 199,259,350,000

Strike  610  has a total call value of 217,866,925,000  versus a total put value of  0 Combined total value = 217,866,925,000

Max-Pain Table for Stocks
  Note:- click on symbol to see more detailed view
Max Pain Table (Stocks)
Symbol Symbol Ltp Max Pain
360ONE 1136.9 1140
ABB 5283 5200
ABCAPITAL 353.05 350
ADANIENSOL 1015 990
ADANIENT 2282.3 2300
ADANIGREEN 1048.8 1040
ADANIPORTS 1514.2 1500
ALKEM 5616 5700
AMBER 6851 6800
AMBUJACEM 554.35 550
ANGELONE 2573.5 2600
APLAPOLLO 1734.8 1740
APOLLOHOSP 7082 7200
ASHOKLEY 166.9 160
ASIANPAINT 2780 2800
ASTRAL 1427.2 1440
AUBANK 981.2 960
AUROPHARMA 1189.3 1200
AXISBANK 1283.8 1280
BAJAJ-AUTO 8967.5 9000
BAJAJFINSV 2070.8 2060
BAJFINANCE 1012.1 1020
BANDHANBNK 150.33 150
BANKBARODA 285.5 290
BANKINDIA 141.81 142
BDL 1400.9 1440
BEL 390.2 400
BHARATFORG 1406.3 1400
BHARTIARTL 2078 2100
BHEL 282.6 282.5
BIOCON 385 390
BLUESTARCO 1808.4 1780
BOSCHLTD 36400 36500
BPCL 365.35 365
BRITANNIA 6052 5950
BSE 2658.8 2750
CAMS 756.7 770
CANBK 148.49 148
CDSL 1514.4 1560
CGPOWER 669 680
CHOLAFIN 1732.4 1700
CIPLA 1506.4 1520
COALINDIA 384.1 382.25
COFORGE 1860.9 1840
COLPAL 2166.1 2180
CONCOR 503.05 510
CROMPTON 253 265
CUMMINSIND 4545.2 4500
CYIENT 1154.6 1160
DABUR 496.75 500
DALBHARAT 2103 2040
DELHIVERY 408.35 415
DIVISLAB 6377 6400
DIXON 13742 13750
DLF 697.05 710
DMART 3824.7 3900
DRREDDY 1279.1 1270
EICHERMOT 7115 7150
ETERNAL 298.25 300
EXIDEIND 371.05 375
FEDERALBNK 265.5 260
FORTIS 867.85 880
GAIL 170 175
GLENMARK 1976 1940
GMRAIRPORT 104.97 102
GODREJCP 1161.2 1140
GODREJPROP 2074 2040
GRASIM 2827.9 2800
HAL 4329.5 4500
HAVELLS 1413.8 1420
HCLTECH 1684 1660
HDFCAMC 2612.3 2650
HDFCBANK 996.3 1000
HDFCLIFE 771.2 770
HEROMOTOCO 5957 6050
HFCL 66.4 68
HINDALCO 847.6 820
HINDPETRO 466.4 460
HINDUNILVR 2298.5 2300
HINDZINC 566.35 540
HUDCO 215.12 220
ICICIBANK 1366.8 1380
ICICIGI 1942.5 1960
ICICIPRULI 646.95 630
IDEA 11.44 11
IDFCFIRSTB 84.08 81
IEX 142.97 145
IIFL 577.6 560
INDHOTEL 733.55 730
INDIANB 784.2 800
INDIGO 4977 5000
INDUSINDBK 851 850
INDUSTOWER 409.15 410
INFY 1609 1600
INOXWIND 125.08 130
IOC 167.17 165
IRCTC 672.7 680
IREDA 135.45 140
IRFC 113.41 115
ITC 403.1 405
JINDALSTEL 1032.8 1020
JIOFIN 299.2 300
JSWENERGY 485.55 490
JSWSTEEL 1117.2 1140
JUBLFOOD 575.75 590
KALYANKJIL 480.2 480
KAYNES 4233 4400
KEI 4170.1 4100
KFINTECH 1048.5 1060
KOTAKBANK 2175.3 2160
KPITTECH 1213.3 1220
LAURUSLABS 1005.7 1000
LICHSGFIN 531 550
LICI 858.3 880
LODHA 1099.4 1100
LT 4079 4040
LTF 305.2 305
LTIM 6284 6200
LUPIN 2091.6 2080
M&M 3610.8 3650
MANAPPURAM 285.9 282.5
MANKIND 2149.4 2200
MARICO 737.7 730
MARUTI 16420 16300
MAXHEALTH 1080.4 1100
MAZDOCK 2450.4 2550
MCX 10190 10100
MFSL 1696.9 1700
MOTHERSON 120.29 116
MPHASIS 2890.5 2900
MUTHOOTFIN 3859.9 3800
NATIONALUM 279.15 270
NAUKRI 1360.2 1360
NBCC 115.78 114
NCC 161.64 167.5
NESTLEIND 1239.5 1240
NHPC 77.05 77
NMDC 77.97 77
NTPC 324.15 325
NUVAMA 7272 7200
NYKAA 250.7 255
OBEROIRLTY 1651.3 1640
OFSS 7951 8000
OIL 402.7 410
ONGC 233.8 240
PAGEIND 36720 37000
PATANJALI 532 540
PAYTM 1300.5 1300
PERSISTENT 6306.5 6300
PETRONET 268.5 275
PFC 339.75 360
PGEL 568.9 560
PHOENIXLTD 1783.9 1760
PIDILITIND 1478.1 1480
PIIND 3250.2 3350
PNB 118.48 120
PNBHOUSING 920.6 910
POLICYBZR 1913.1 1900
POLYCAB 7327.5 7300
POWERGRID 262.15 270
POWERINDIA 19445 19500
PPLPHARMA 171.98 177.5
PRESTIGE 1637 1660
RBLBANK 304.55 310
RECLTD 341.15 355
RELIANCE 1555 1540
RVNL 313.5 315
SAIL 131.96 132
SAMMAANCAP 148.89 155
SBICARD 869.9 880
SBILIFE 2030.3 2020
SBIN 967.25 965
SHREECEM 26400 26500
SHRIRAMFIN 864 850
SIEMENS 3148.9 3200
SOLARINDS 12177 12750
SONACOMS 488.25 490
SRF 2994.5 2950
SUNPHARMA 1795.8 1800
SUPREMEIND 3283.7 3400
SUZLON 53.19 54
SYNGENE 660.1 650
TATACONSUM 1160 1170
TATAELXSI 5054.5 5000
TATAMOTORS 0 320
TATAPOWER 380.65 390
TATASTEEL 172.72 170
TATATECH 657.15 670
TCS 3221 3200
TECHM 1577 1560
TIINDIA 2632.1 2700
TITAGARH 792.65 800
TITAN 3862.6 3840
TMPV 345.8 360
TORNTPHARM 3781.7 3750
TORNTPOWER 1287.9 1300
TRENT 4080.8 4200
TVSMOTOR 3639 3600
ULTRACEMCO 11710 11700
UNIONBANK 152.58 152.5
UNITDSPR 1444.2 1440
UNOMINDA 1236.2 1280
UPL 767.9 750
VBL 474.75 475
VEDL 549.2 530
VOLTAS 1384.8 1360
WIPRO 260.44 257.5
YESBANK 21.8 22
ZYDUSLIFE 922.1 930

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:

  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.