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WIPRO

Wipro Ltd
261.5 +2.28 (0.88%)
L: 258.31 H: 261.58
Max Pain - WIPRO
17 Dec 2025 09:35 AM IST
Live


Strike  200  has a total call value of 0  versus a total put value of  150,277,500,000 Combined total value = 150,277,500,000

Strike  202.5  has a total call value of 10,500,000  versus a total put value of  142,198,500,000 Combined total value = 142,209,000,000

Strike  205  has a total call value of 21,000,000  versus a total put value of  134,119,500,000 Combined total value = 134,140,500,000

Strike  207.5  has a total call value of 31,500,000  versus a total put value of  126,075,750,000 Combined total value = 126,107,250,000

Strike  210  has a total call value of 42,000,000  versus a total put value of  118,032,000,000 Combined total value = 118,074,000,000

Strike  212.5  has a total call value of 53,250,000  versus a total put value of  110,030,250,000 Combined total value = 110,083,500,000

Strike  215  has a total call value of 64,500,000  versus a total put value of  102,043,500,000 Combined total value = 102,108,000,000

Strike  217.5  has a total call value of 75,750,000  versus a total put value of  94,365,750,000 Combined total value = 94,441,500,000

Strike  220  has a total call value of 87,000,000  versus a total put value of  86,700,750,000 Combined total value = 86,787,750,000

Strike  222.5  has a total call value of 109,500,000  versus a total put value of  79,584,750,000 Combined total value = 79,694,250,000

Strike  225  has a total call value of 132,000,000  versus a total put value of  72,502,500,000 Combined total value = 72,634,500,000

Strike  227.5  has a total call value of 161,250,000  versus a total put value of  65,607,750,000 Combined total value = 65,769,000,000

Strike  230  has a total call value of 230,250,000  versus a total put value of  58,772,250,000 Combined total value = 59,002,500,000

Strike  232.5  has a total call value of 401,250,000  versus a total put value of  52,286,250,000 Combined total value = 52,687,500,000

Strike  235  has a total call value of 579,750,000  versus a total put value of  45,844,500,000 Combined total value = 46,424,250,000

Strike  237.5  has a total call value of 818,250,000  versus a total put value of  39,872,250,000 Combined total value = 40,690,500,000

Strike  240  has a total call value of 1,146,750,000  versus a total put value of  34,035,750,000 Combined total value = 35,182,500,000

Strike  242.5  has a total call value of 1,683,750,000  versus a total put value of  28,907,250,000 Combined total value = 30,591,000,000

Strike  245  has a total call value of 2,272,500,000  versus a total put value of  24,173,250,000 Combined total value = 26,445,750,000

Strike  247.5  has a total call value of 3,026,250,000  versus a total put value of  20,097,000,000 Combined total value = 23,123,250,000

Strike  250  has a total call value of 3,870,000,000  versus a total put value of  16,284,750,000 Combined total value = 20,154,750,000

Strike  252.5  has a total call value of 5,088,750,000  versus a total put value of  13,323,750,000 Combined total value = 18,412,500,000

Strike  255  has a total call value of 6,399,750,000  versus a total put value of  10,645,500,000 Combined total value = 17,045,250,000

Strike  257.5  has a total call value of 8,530,500,000  versus a total put value of  8,642,250,000 Combined total value = 17,172,750,000

Strike  260  has a total call value of 10,804,500,000  versus a total put value of  6,900,750,000 Combined total value = 17,705,250,000

Strike  262.5  has a total call value of 14,474,250,000  versus a total put value of  5,798,250,000 Combined total value = 20,272,500,000

Strike  265  has a total call value of 19,061,250,000  versus a total put value of  4,863,750,000 Combined total value = 23,925,000,000

Strike  267.5  has a total call value of 24,630,750,000  versus a total put value of  4,134,750,000 Combined total value = 28,765,500,000

Strike  270  has a total call value of 30,433,500,000  versus a total put value of  3,434,250,000 Combined total value = 33,867,750,000

Strike  272.5  has a total call value of 37,459,500,000  versus a total put value of  2,862,750,000 Combined total value = 40,322,250,000

Strike  275  has a total call value of 44,646,750,000  versus a total put value of  2,299,500,000 Combined total value = 46,946,250,000

Strike  277.5  has a total call value of 52,629,750,000  versus a total put value of  1,779,000,000 Combined total value = 54,408,750,000

Strike  280  has a total call value of 60,669,000,000  versus a total put value of  1,258,500,000 Combined total value = 61,927,500,000

Strike  282.5  has a total call value of 69,514,500,000  versus a total put value of  933,750,000 Combined total value = 70,448,250,000

Strike  285  has a total call value of 78,383,250,000  versus a total put value of  609,000,000 Combined total value = 78,992,250,000

Strike  287.5  has a total call value of 88,520,250,000  versus a total put value of  306,000,000 Combined total value = 88,826,250,000

Strike  290  has a total call value of 98,657,250,000  versus a total put value of  3,000,000 Combined total value = 98,660,250,000

Strike  292.5  has a total call value of 108,919,500,000  versus a total put value of  2,250,000 Combined total value = 108,921,750,000

Strike  295  has a total call value of 119,181,750,000  versus a total put value of  1,500,000 Combined total value = 119,183,250,000

Strike  297.5  has a total call value of 129,486,000,000  versus a total put value of  750,000 Combined total value = 129,486,750,000

Strike  300  has a total call value of 139,790,250,000  versus a total put value of  0 Combined total value = 139,790,250,000

Max-Pain Table for Stocks
  Note:- click on symbol to see more detailed view
Max Pain Table (Stocks)
Symbol Symbol Ltp Max Pain
360ONE 1124.6 1140
ABB 5256.5 5200
ABCAPITAL 351.3 350
ADANIENSOL 993.9 990
ADANIENT 2250.7 2300
ADANIGREEN 1025 1020
ADANIPORTS 1498.2 1500
ALKEM 5677 5700
AMBER 6806.5 6800
AMBUJACEM 547.95 555
ANGELONE 2528.8 2600
APLAPOLLO 1729.6 1740
APOLLOHOSP 7071 7200
ASHOKLEY 166.71 160
ASIANPAINT 2802.7 2800
ASTRAL 1452.3 1460
AUBANK 995.75 960
AUROPHARMA 1180 1200
AXISBANK 1231.7 1240
BAJAJ-AUTO 8998 9000
BAJAJFINSV 2038.6 2060
BAJFINANCE 1008.7 1020
BANDHANBNK 149.57 150
BANKBARODA 284.9 290
BANKINDIA 142.2 143
BDL 1355.5 1400
BEL 387.55 400
BHARATFORG 1413.4 1400
BHARTIARTL 2108.4 2100
BHEL 280.35 280
BIOCON 387.7 390
BLUESTARCO 1815.3 1780
BOSCHLTD 36305 36500
BPCL 371 362.5
BRITANNIA 6089.5 6000
BSE 2644.1 2700
CAMS 754.9 780
CANBK 149.72 149
CDSL 1496.6 1560
CGPOWER 688.85 680
CHOLAFIN 1724.3 1700
CIPLA 1498.1 1520
COALINDIA 383.2 384.75
COFORGE 1880.6 1840
COLPAL 2131.6 2180
CONCOR 501.8 520
CROMPTON 253.3 265
CUMMINSIND 4520 4500
CYIENT 1148.6 1160
DABUR 498.35 500
DALBHARAT 2055.1 2040
DELHIVERY 404.15 410
DIVISLAB 6369.5 6400
DIXON 13515 13750
DLF 689.1 720
DMART 3840.2 3900
DRREDDY 1274.3 1270
EICHERMOT 7159.5 7100
ETERNAL 288.9 295
EXIDEIND 364.15 375
FEDERALBNK 263.7 260
FORTIS 877.45 890
GAIL 169.97 175
GLENMARK 1956.6 1940
GMRAIRPORT 103.57 102
GODREJCP 1184.5 1160
GODREJPROP 2032 2080
GRASIM 2792.7 2800
HAL 4268.2 4500
HAVELLS 1408.2 1440
HCLTECH 1659.2 1660
HDFCAMC 2587.7 2620
HDFCBANK 991.1 1000
HDFCLIFE 761.1 770
HEROMOTOCO 5940 6050
HFCL 65.52 68
HINDALCO 847.3 820
HINDPETRO 471.1 460
HINDUNILVR 2282.5 2300
HINDZINC 581.95 545
HUDCO 211.89 220
ICICIBANK 1353.9 1370
ICICIGI 1952.3 1980
ICICIPRULI 639.45 630
IDEA 11.26 11
IDFCFIRSTB 83.67 82
IEX 141.01 145
IIFL 572.55 560
INDHOTEL 728.5 740
INDIANB 780.3 820
INDIGO 4974.5 5000
INDUSINDBK 838.5 850
INDUSTOWER 407.7 410
INFY 1602.6 1600
INOXWIND 126.52 130
IOC 168.58 166
IRCTC 671.9 690
IREDA 133.85 140
IRFC 112.18 116
ITC 402.7 405
JINDALSTEL 1008.2 1020
JIOFIN 295.4 305
JSWENERGY 479 490
JSWSTEEL 1092 1130
JUBLFOOD 562.7 580
KALYANKJIL 481.05 480
KAYNES 4230 4400
KEI 4109 4100
KFINTECH 1033.1 1060
KOTAKBANK 2180.9 2160
KPITTECH 1174.4 1200
LAURUSLABS 1017.6 1000
LICHSGFIN 528.85 550
LICI 858.3 880
LODHA 1083 1100
LT 4073 4040
LTF 304.5 302.5
LTIM 6265.5 6150
LUPIN 2121.5 2080
M&M 3635.6 3650
MANAPPURAM 286.25 280
MANKIND 2111.3 2200
MARICO 737.7 740
MARUTI 16463 16300
MAXHEALTH 1068.7 1100
MAZDOCK 2415 2550
MCX 10196 10100
MFSL 1677.4 1700
MOTHERSON 120.64 116
MPHASIS 2890.9 2900
MUTHOOTFIN 3841 3800
NATIONALUM 280.35 270
NAUKRI 1361.1 1360
NBCC 111.69 112
NCC 157.98 167.5
NESTLEIND 1237 1240
NHPC 75.81 78
NMDC 77.31 77
NTPC 322.2 325
NUVAMA 7253 7200
NYKAA 248.25 255
OBEROIRLTY 1639.2 1640
OFSS 7849 8000
OIL 400.65 410
ONGC 232.48 240
PAGEIND 36370 37500
PATANJALI 534.5 545
PAYTM 1286.7 1300
PERSISTENT 6319 6300
PETRONET 268.35 277.5
PFC 338.5 355
PGEL 568.45 560
PHOENIXLTD 1785.6 1740
PIDILITIND 1464.8 1480
PIIND 3233.8 3350
PNB 118.12 120
PNBHOUSING 911.45 910
POLICYBZR 1822.8 1840
POLYCAB 7132 7300
POWERGRID 260.95 270
POWERINDIA 19540 19500
PPLPHARMA 170.11 180
PRESTIGE 1615.5 1660
RBLBANK 299.25 310
RECLTD 335.95 350
RELIANCE 1547.1 1540
RVNL 309.95 315
SAIL 130.15 133
SAMMAANCAP 146.8 155
SBICARD 849.4 870
SBILIFE 2041.3 2020
SBIN 975.45 970
SHREECEM 26055 26500
SHRIRAMFIN 867.05 850
SIEMENS 3168.5 3200
SOLARINDS 11968 12500
SONACOMS 491.1 500
SRF 3003 2950
SUNPHARMA 1780.4 1800
SUPREMEIND 3380.4 3400
SUZLON 52.51 54
SYNGENE 647.25 650
TATACONSUM 1176.5 1170
TATAELXSI 5034 5100
TATAMOTORS 0 320
TATAPOWER 381.7 390
TATASTEEL 170.86 170
TATATECH 651.3 670
TCS 3233.3 3200
TECHM 1583.5 1540
TIINDIA 2652.6 2700
TITAGARH 786.1 800
TITAN 3927.6 3880
TMPV 349.5 360
TORNTPHARM 3747 3800
TORNTPOWER 1291.9 1300
TRENT 4095.3 4200
TVSMOTOR 3656.9 3600
ULTRACEMCO 11537 11700
UNIONBANK 153.76 152.5
UNITDSPR 1447 1440
UNOMINDA 1267.2 1280
UPL 751.7 750
VBL 473.65 470
VEDL 571.5 550
VOLTAS 1392 1380
WIPRO 261.5 255
YESBANK 21.63 22
ZYDUSLIFE 919.65 930

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.