[--[65.84.65.76]--]

MCX

Multi Commodity Exchange
10068 -96.00 (-0.94%)
L: 10033 H: 10219
Max Pain - MCX
17 Dec 2025 01:40 PM IST
Live


Strike  7800  has a total call value of 0  versus a total put value of  362,628,750,000 Combined total value = 362,628,750,000

Strike  7900  has a total call value of 0  versus a total put value of  343,261,250,000 Combined total value = 343,261,250,000

Strike  8000  has a total call value of 0  versus a total put value of  323,893,750,000 Combined total value = 323,893,750,000

Strike  8100  has a total call value of 12,500,000  versus a total put value of  304,672,500,000 Combined total value = 304,685,000,000

Strike  8200  has a total call value of 25,000,000  versus a total put value of  285,451,250,000 Combined total value = 285,476,250,000

Strike  8300  has a total call value of 60,000,000  versus a total put value of  266,271,250,000 Combined total value = 266,331,250,000

Strike  8400  has a total call value of 102,500,000  versus a total put value of  247,091,250,000 Combined total value = 247,193,750,000

Strike  8500  has a total call value of 152,500,000  versus a total put value of  228,121,250,000 Combined total value = 228,273,750,000

Strike  8600  has a total call value of 206,250,000  versus a total put value of  209,492,500,000 Combined total value = 209,698,750,000

Strike  8700  has a total call value of 262,500,000  versus a total put value of  190,866,250,000 Combined total value = 191,128,750,000

Strike  8800  has a total call value of 321,250,000  versus a total put value of  172,243,750,000 Combined total value = 172,565,000,000

Strike  8900  has a total call value of 391,250,000  versus a total put value of  154,132,500,000 Combined total value = 154,523,750,000

Strike  9000  has a total call value of 466,250,000  versus a total put value of  136,032,500,000 Combined total value = 136,498,750,000

Strike  9100  has a total call value of 701,250,000  versus a total put value of  120,080,000,000 Combined total value = 120,781,250,000

Strike  9200  has a total call value of 942,500,000  versus a total put value of  104,325,000,000 Combined total value = 105,267,500,000

Strike  9300  has a total call value of 1,205,000,000  versus a total put value of  89,330,000,000 Combined total value = 90,535,000,000

Strike  9400  has a total call value of 1,512,500,000  versus a total put value of  74,972,500,000 Combined total value = 76,485,000,000

Strike  9500  has a total call value of 2,086,250,000  versus a total put value of  61,318,750,000 Combined total value = 63,405,000,000

Strike  9600  has a total call value of 2,976,250,000  versus a total put value of  49,692,500,000 Combined total value = 52,668,750,000

Strike  9700  has a total call value of 3,942,500,000  versus a total put value of  38,873,750,000 Combined total value = 42,816,250,000

Strike  9800  has a total call value of 5,105,000,000  versus a total put value of  29,098,750,000 Combined total value = 34,203,750,000

Strike  9900  has a total call value of 6,911,250,000  versus a total put value of  20,900,000,000 Combined total value = 27,811,250,000

Strike  10000  has a total call value of 9,246,250,000  versus a total put value of  13,936,250,000 Combined total value = 23,182,500,000

Strike  10100  has a total call value of 13,797,500,000  versus a total put value of  9,377,500,000 Combined total value = 23,175,000,000

Strike  10200  has a total call value of 21,372,500,000  versus a total put value of  6,012,500,000 Combined total value = 27,385,000,000

Strike  10300  has a total call value of 31,458,750,000  versus a total put value of  3,903,750,000 Combined total value = 35,362,500,000

Strike  10400  has a total call value of 43,458,750,000  versus a total put value of  2,546,250,000 Combined total value = 46,005,000,000

Strike  10500  has a total call value of 57,388,750,000  versus a total put value of  1,556,250,000 Combined total value = 58,945,000,000

Strike  10600  has a total call value of 74,641,250,000  versus a total put value of  1,096,250,000 Combined total value = 75,737,500,000

Strike  10700  has a total call value of 93,602,500,000  versus a total put value of  767,500,000 Combined total value = 94,370,000,000

Strike  10800  has a total call value of 113,466,250,000  versus a total put value of  492,500,000 Combined total value = 113,958,750,000

Strike  10900  has a total call value of 134,958,750,000  versus a total put value of  300,000,000 Combined total value = 135,258,750,000

Strike  11000  has a total call value of 157,601,250,000  versus a total put value of  122,500,000 Combined total value = 157,723,750,000

Strike  11100  has a total call value of 184,126,250,000  versus a total put value of  98,750,000 Combined total value = 184,225,000,000

Strike  11200  has a total call value of 210,708,750,000  versus a total put value of  75,000,000 Combined total value = 210,783,750,000

Strike  11300  has a total call value of 238,598,750,000  versus a total put value of  51,250,000 Combined total value = 238,650,000,000

Strike  11400  has a total call value of 266,488,750,000  versus a total put value of  27,500,000 Combined total value = 266,516,250,000

Strike  11500  has a total call value of 295,397,500,000  versus a total put value of  13,750,000 Combined total value = 295,411,250,000

Strike  11600  has a total call value of 324,306,250,000  versus a total put value of  0 Combined total value = 324,306,250,000

Max-Pain Table for Stocks
  Note:- click on symbol to see more detailed view
Max Pain Table (Stocks)
Symbol Symbol Ltp Max Pain
360ONE 1125.8 1140
ABB 5180.5 5200
ABCAPITAL 347.9 350
ADANIENSOL 982.45 990
ADANIENT 2226.9 2300
ADANIGREEN 1021.1 1020
ADANIPORTS 1484.9 1500
ALKEM 5596.5 5700
AMBER 6585.5 6800
AMBUJACEM 541.2 555
ANGELONE 2495 2600
APLAPOLLO 1762.7 1760
APOLLOHOSP 6929.5 7150
ASHOKLEY 165.26 160
ASIANPAINT 2777 2800
ASTRAL 1437.4 1460
AUBANK 990 960
AUROPHARMA 1190.4 1200
AXISBANK 1229.6 1240
BAJAJ-AUTO 8919.5 9000
BAJAJFINSV 2013.5 2060
BAJFINANCE 995.9 1020
BANDHANBNK 148.01 150
BANKBARODA 287.5 290
BANKINDIA 142.32 143
BDL 1330.1 1400
BEL 386.05 400
BHARATFORG 1413.1 1400
BHARTIARTL 2101.5 2100
BHEL 276.5 280
BIOCON 386.8 390
BLUESTARCO 1822.1 1780
BOSCHLTD 35935 36500
BPCL 368.4 365
BRITANNIA 6108 6000
BSE 2636.1 2700
CAMS 736 780
CANBK 150.11 150
CDSL 1479.1 1560
CGPOWER 672.55 680
CHOLAFIN 1669.5 1700
CIPLA 1495 1520
COALINDIA 383.1 384.75
COFORGE 1852.5 1840
COLPAL 2102.8 2180
CONCOR 497.75 520
CROMPTON 249.9 265
CUMMINSIND 4509.7 4500
CYIENT 1140.9 1160
DABUR 494.25 500
DALBHARAT 2073 2040
DELHIVERY 398.1 410
DIVISLAB 6302.5 6400
DIXON 13284 13750
DLF 681.7 710
DMART 3820 3900
DRREDDY 1269 1270
EICHERMOT 7151 7150
ETERNAL 284.85 295
EXIDEIND 364.05 375
FEDERALBNK 263.3 260
FORTIS 867.95 890
GAIL 168.54 175
GLENMARK 1946 1940
GMRAIRPORT 101.13 102
GODREJCP 1175.6 1160
GODREJPROP 2014.4 2080
GRASIM 2793.2 2800
HAL 4235.6 4450
HAVELLS 1395.5 1440
HCLTECH 1655 1660
HDFCAMC 2545.4 2600
HDFCBANK 981.3 995
HDFCLIFE 750.85 770
HEROMOTOCO 5812 6000
HFCL 64.57 68
HINDALCO 846.35 820
HINDPETRO 466 460
HINDUNILVR 2272.2 2300
HINDZINC 574.1 550
HUDCO 208.07 220
ICICIBANK 1348.5 1370
ICICIGI 1936.8 1980
ICICIPRULI 629 630
IDEA 11.13 11
IDFCFIRSTB 83.44 82
IEX 140.67 145
IIFL 564.7 560
INDHOTEL 712.6 730
INDIANB 773.6 820
INDIGO 4970 5000
INDUSINDBK 836.1 850
INDUSTOWER 405.95 410
INFY 1601.7 1600
INOXWIND 126.02 130
IOC 167.85 166
IRCTC 667 690
IREDA 131.85 140
IRFC 111.3 116
ITC 400.6 405
JINDALSTEL 1001 1020
JIOFIN 292.8 305
JSWENERGY 475.65 490
JSWSTEEL 1079.6 1120
JUBLFOOD 551.25 580
KALYANKJIL 472.6 480
KAYNES 4166.5 4400
KEI 4093.4 4100
KFINTECH 1030.4 1060
KOTAKBANK 2165.2 2160
KPITTECH 1171.4 1200
LAURUSLABS 1009.7 1000
LICHSGFIN 525.5 550
LICI 845.8 870
LODHA 1063 1100
LT 4055.1 4040
LTF 300.95 302.5
LTIM 6243 6150
LUPIN 2108.7 2080
M&M 3600 3650
MANAPPURAM 285.45 280
MANKIND 2098.1 2200
MARICO 738.7 740
MARUTI 16392 16300
MAXHEALTH 1027.6 1080
MAZDOCK 2361.5 2500
MCX 10068 10100
MFSL 1654.6 1680
MOTHERSON 119.51 116
MPHASIS 2865.2 2900
MUTHOOTFIN 3764.4 3750
NATIONALUM 279.05 270
NAUKRI 1342 1360
NBCC 109.83 112
NCC 155.85 165
NESTLEIND 1228 1240
NHPC 75.45 78
NMDC 77.21 77
NTPC 320.85 325
NUVAMA 7189.5 7200
NYKAA 244.4 255
OBEROIRLTY 1613.9 1640
OFSS 7746 8000
OIL 398.75 410
ONGC 232.55 237.5
PAGEIND 36240 37000
PATANJALI 533.6 540
PAYTM 1267.2 1300
PERSISTENT 6281 6300
PETRONET 268.25 278
PFC 335.3 355
PGEL 557.85 560
PHOENIXLTD 1777.2 1740
PIDILITIND 1451.1 1480
PIIND 3202.9 3300
PNB 118.9 120
PNBHOUSING 896.05 910
POLICYBZR 1779.1 1840
POLYCAB 7108 7200
POWERGRID 261.35 270
POWERINDIA 19140 19500
PPLPHARMA 168.95 180
PRESTIGE 1605 1660
RBLBANK 295.85 305
RECLTD 333.95 350
RELIANCE 1544.6 1540
RVNL 307.05 315
SAIL 129.74 132
SAMMAANCAP 149.02 155
SBICARD 830.8 870
SBILIFE 1998.5 2020
SBIN 976 970
SHREECEM 25955 26500
SHRIRAMFIN 861.15 850
SIEMENS 3147.8 3200
SOLARINDS 11841 12500
SONACOMS 491.6 500
SRF 3015.5 2950
SUNPHARMA 1792 1800
SUPREMEIND 3349.6 3400
SUZLON 51.96 54
SYNGENE 646.85 650
TATACONSUM 1181.6 1170
TATAELXSI 4974 5000
TATAMOTORS 0 320
TATAPOWER 378.3 390
TATASTEEL 169.9 170
TATATECH 641.65 670
TCS 3215 3200
TECHM 1575.9 1560
TIINDIA 2605.9 2700
TITAGARH 775.2 800
TITAN 3897.1 3880
TMPV 347.6 360
TORNTPHARM 3739.9 3750
TORNTPOWER 1282 1300
TRENT 4053 4200
TVSMOTOR 3641.3 3600
ULTRACEMCO 11555 11700
UNIONBANK 153.1 155
UNITDSPR 1432.1 1440
UNOMINDA 1243.1 1280
UPL 745.3 750
VBL 470.4 470
VEDL 569.15 550
VOLTAS 1380 1380
WIPRO 261.05 255
YESBANK 21.51 22
ZYDUSLIFE 917.95 930

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.