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.

MIDCPNIFTY

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.

Nifty Midcap Select

13663 -85.00 (-0.62%)

L: 13657.8 H: 13782.05

Max Pain - MIDCPNIFTY

17 Dec 2025 01:40 PM IST

Live

Expiry

Max Pain for MIDCPNIFTY is 13800

Historical data for MIDCPNIFTY-13800-CE

LTP (13800 CE)

105 -41.05

Open Interest

4445 913

Historical data for MIDCPNIFTY-13800-PE

LTP (13800 PE)

212.15 44.05

Open Interest

3884 605

Strike 11100 has a total call value of 0 versus a total put value of 2,105,954,200,000 Combined total value = 2,105,954,200,000

Strike 11125 has a total call value of 350,000 versus a total put value of 2,082,639,300,000 Combined total value = 2,082,639,650,000

Strike 11150 has a total call value of 700,000 versus a total put value of 2,059,324,400,000 Combined total value = 2,059,325,100,000

Strike 11175 has a total call value of 1,050,000 versus a total put value of 2,036,009,500,000 Combined total value = 2,036,010,550,000

Strike 11200 has a total call value of 1,400,000 versus a total put value of 2,012,694,600,000 Combined total value = 2,012,696,000,000

Strike 11225 has a total call value of 1,750,000 versus a total put value of 1,989,384,950,000 Combined total value = 1,989,386,700,000

Strike 11250 has a total call value of 2,100,000 versus a total put value of 1,966,075,300,000 Combined total value = 1,966,077,400,000

Strike 11275 has a total call value of 2,450,000 versus a total put value of 1,942,765,650,000 Combined total value = 1,942,768,100,000

Strike 11300 has a total call value of 2,800,000 versus a total put value of 1,919,456,000,000 Combined total value = 1,919,458,800,000

Strike 11325 has a total call value of 3,150,000 versus a total put value of 1,896,152,650,000 Combined total value = 1,896,155,800,000

Strike 11350 has a total call value of 3,500,000 versus a total put value of 1,872,849,300,000 Combined total value = 1,872,852,800,000

Strike 11375 has a total call value of 3,850,000 versus a total put value of 1,849,545,950,000 Combined total value = 1,849,549,800,000

Strike 11400 has a total call value of 4,200,000 versus a total put value of 1,826,242,600,000 Combined total value = 1,826,246,800,000

Strike 11425 has a total call value of 4,550,000 versus a total put value of 1,802,944,150,000 Combined total value = 1,802,948,700,000

Strike 11450 has a total call value of 4,900,000 versus a total put value of 1,779,645,700,000 Combined total value = 1,779,650,600,000

Strike 11475 has a total call value of 5,250,000 versus a total put value of 1,756,347,250,000 Combined total value = 1,756,352,500,000

Strike 11500 has a total call value of 5,600,000 versus a total put value of 1,733,048,800,000 Combined total value = 1,733,054,400,000

Strike 11525 has a total call value of 8,050,000 versus a total put value of 1,709,777,650,000 Combined total value = 1,709,785,700,000

Strike 11550 has a total call value of 10,500,000 versus a total put value of 1,686,506,500,000 Combined total value = 1,686,517,000,000

Strike 11575 has a total call value of 12,950,000 versus a total put value of 1,663,235,350,000 Combined total value = 1,663,248,300,000

Strike 11600 has a total call value of 15,400,000 versus a total put value of 1,639,964,200,000 Combined total value = 1,639,979,600,000

Strike 11625 has a total call value of 17,850,000 versus a total put value of 1,616,697,250,000 Combined total value = 1,616,715,100,000

Strike 11650 has a total call value of 20,300,000 versus a total put value of 1,593,430,300,000 Combined total value = 1,593,450,600,000

Strike 11675 has a total call value of 22,750,000 versus a total put value of 1,570,163,350,000 Combined total value = 1,570,186,100,000

Strike 11700 has a total call value of 25,200,000 versus a total put value of 1,546,896,400,000 Combined total value = 1,546,921,600,000

Strike 11725 has a total call value of 27,650,000 versus a total put value of 1,523,636,450,000 Combined total value = 1,523,664,100,000

Strike 11750 has a total call value of 30,100,000 versus a total put value of 1,500,376,500,000 Combined total value = 1,500,406,600,000

Strike 11775 has a total call value of 32,550,000 versus a total put value of 1,477,116,550,000 Combined total value = 1,477,149,100,000

Strike 11800 has a total call value of 35,000,000 versus a total put value of 1,453,856,600,000 Combined total value = 1,453,891,600,000

Strike 11825 has a total call value of 37,450,000 versus a total put value of 1,430,599,800,000 Combined total value = 1,430,637,250,000

Strike 11850 has a total call value of 39,900,000 versus a total put value of 1,407,343,000,000 Combined total value = 1,407,382,900,000

Strike 11875 has a total call value of 42,350,000 versus a total put value of 1,384,133,800,000 Combined total value = 1,384,176,150,000

Strike 11900 has a total call value of 44,800,000 versus a total put value of 1,360,933,000,000 Combined total value = 1,360,977,800,000

Strike 11925 has a total call value of 47,250,000 versus a total put value of 1,337,746,900,000 Combined total value = 1,337,794,150,000

Strike 11950 has a total call value of 49,700,000 versus a total put value of 1,314,574,450,000 Combined total value = 1,314,624,150,000

Strike 11975 has a total call value of 52,150,000 versus a total put value of 1,291,402,000,000 Combined total value = 1,291,454,150,000

Strike 12000 has a total call value of 54,600,000 versus a total put value of 1,268,229,550,000 Combined total value = 1,268,284,150,000

Strike 12025 has a total call value of 58,800,000 versus a total put value of 1,245,701,450,000 Combined total value = 1,245,760,250,000

Strike 12050 has a total call value of 63,000,000 versus a total put value of 1,223,178,250,000 Combined total value = 1,223,241,250,000

Strike 12075 has a total call value of 67,200,000 versus a total put value of 1,200,661,000,000 Combined total value = 1,200,728,200,000

Strike 12100 has a total call value of 71,400,000 versus a total put value of 1,178,149,000,000 Combined total value = 1,178,220,400,000

Strike 12125 has a total call value of 78,050,000 versus a total put value of 1,155,645,050,000 Combined total value = 1,155,723,100,000

Strike 12150 has a total call value of 84,700,000 versus a total put value of 1,133,146,000,000 Combined total value = 1,133,230,700,000

Strike 12175 has a total call value of 91,350,000 versus a total put value of 1,110,653,600,000 Combined total value = 1,110,744,950,000

Strike 12200 has a total call value of 98,000,000 versus a total put value of 1,088,166,100,000 Combined total value = 1,088,264,100,000

Strike 12225 has a total call value of 104,650,000 versus a total put value of 1,065,695,050,000 Combined total value = 1,065,799,700,000

Strike 12250 has a total call value of 111,300,000 versus a total put value of 1,043,227,500,000 Combined total value = 1,043,338,800,000

Strike 12275 has a total call value of 117,950,000 versus a total put value of 1,020,766,950,000 Combined total value = 1,020,884,900,000

Strike 12300 has a total call value of 124,600,000 versus a total put value of 998,310,250,000 Combined total value = 998,434,850,000

Strike 12325 has a total call value of 131,250,000 versus a total put value of 975,897,650,000 Combined total value = 976,028,900,000

Strike 12350 has a total call value of 137,900,000 versus a total put value of 953,487,850,000 Combined total value = 953,625,750,000

Strike 12375 has a total call value of 144,550,000 versus a total put value of 931,080,500,000 Combined total value = 931,225,050,000

Strike 12400 has a total call value of 151,200,000 versus a total put value of 908,677,000,000 Combined total value = 908,828,200,000

Strike 12425 has a total call value of 157,850,000 versus a total put value of 886,307,100,000 Combined total value = 886,464,950,000

Strike 12450 has a total call value of 164,500,000 versus a total put value of 863,942,100,000 Combined total value = 864,106,600,000

Strike 12475 has a total call value of 171,150,000 versus a total put value of 841,592,150,000 Combined total value = 841,763,300,000

Strike 12500 has a total call value of 177,800,000 versus a total put value of 819,256,550,000 Combined total value = 819,434,350,000

Strike 12525 has a total call value of 245,700,000 versus a total put value of 797,632,500,000 Combined total value = 797,878,200,000

Strike 12550 has a total call value of 313,600,000 versus a total put value of 776,022,800,000 Combined total value = 776,336,400,000

Strike 12575 has a total call value of 381,500,000 versus a total put value of 754,421,500,000 Combined total value = 754,803,000,000

Strike 12600 has a total call value of 449,400,000 versus a total put value of 732,825,100,000 Combined total value = 733,274,500,000

Strike 12625 has a total call value of 517,300,000 versus a total put value of 711,377,100,000 Combined total value = 711,894,400,000

Strike 12650 has a total call value of 585,200,000 versus a total put value of 689,935,400,000 Combined total value = 690,520,600,000

Strike 12675 has a total call value of 653,100,000 versus a total put value of 668,506,650,000 Combined total value = 669,159,750,000

Strike 12700 has a total call value of 721,000,000 versus a total put value of 647,081,400,000 Combined total value = 647,802,400,000

Strike 12725 has a total call value of 788,900,000 versus a total put value of 625,963,100,000 Combined total value = 626,752,000,000

Strike 12750 has a total call value of 856,800,000 versus a total put value of 604,850,050,000 Combined total value = 605,706,850,000

Strike 12775 has a total call value of 924,700,000 versus a total put value of 583,913,750,000 Combined total value = 584,838,450,000

Strike 12800 has a total call value of 992,600,000 versus a total put value of 563,002,300,000 Combined total value = 563,994,900,000

Strike 12825 has a total call value of 1,060,500,000 versus a total put value of 543,049,850,000 Combined total value = 544,110,350,000

Strike 12850 has a total call value of 1,128,400,000 versus a total put value of 523,120,850,000 Combined total value = 524,249,250,000

Strike 12875 has a total call value of 1,196,300,000 versus a total put value of 503,228,600,000 Combined total value = 504,424,900,000

Strike 12900 has a total call value of 1,264,200,000 versus a total put value of 483,344,750,000 Combined total value = 484,608,950,000

Strike 12925 has a total call value of 1,332,450,000 versus a total put value of 463,762,600,000 Combined total value = 465,095,050,000

Strike 12950 has a total call value of 1,400,700,000 versus a total put value of 444,187,800,000 Combined total value = 445,588,500,000

Strike 12975 has a total call value of 1,468,950,000 versus a total put value of 424,636,800,000 Combined total value = 426,105,750,000

Strike 13000 has a total call value of 1,537,200,000 versus a total put value of 405,113,450,000 Combined total value = 406,650,650,000

Strike 13025 has a total call value of 1,684,900,000 versus a total put value of 387,915,150,000 Combined total value = 389,600,050,000

Strike 13050 has a total call value of 1,832,600,000 versus a total put value of 370,731,900,000 Combined total value = 372,564,500,000

Strike 13075 has a total call value of 1,980,300,000 versus a total put value of 353,587,850,000 Combined total value = 355,568,150,000

Strike 13100 has a total call value of 2,128,000,000 versus a total put value of 336,452,900,000 Combined total value = 338,580,900,000

Strike 13125 has a total call value of 2,275,700,000 versus a total put value of 320,737,200,000 Combined total value = 323,012,900,000

Strike 13150 has a total call value of 2,423,400,000 versus a total put value of 305,034,450,000 Combined total value = 307,457,850,000

Strike 13175 has a total call value of 2,571,100,000 versus a total put value of 289,389,450,000 Combined total value = 291,960,550,000

Strike 13200 has a total call value of 2,719,850,000 versus a total put value of 273,763,000,000 Combined total value = 276,482,850,000

Strike 13225 has a total call value of 2,874,900,000 versus a total put value of 259,448,350,000 Combined total value = 262,323,250,000

Strike 13250 has a total call value of 3,033,450,000 versus a total put value of 245,168,350,000 Combined total value = 248,201,800,000

Strike 13275 has a total call value of 3,195,500,000 versus a total put value of 231,292,600,000 Combined total value = 234,488,100,000

Strike 13300 has a total call value of 3,358,250,000 versus a total put value of 217,459,550,000 Combined total value = 220,817,800,000

Strike 13325 has a total call value of 3,535,700,000 versus a total put value of 204,474,200,000 Combined total value = 208,009,900,000

Strike 13350 has a total call value of 3,714,200,000 versus a total put value of 191,520,700,000 Combined total value = 195,234,900,000

Strike 13375 has a total call value of 3,893,400,000 versus a total put value of 178,694,250,000 Combined total value = 182,587,650,000

Strike 13400 has a total call value of 4,072,600,000 versus a total put value of 165,910,150,000 Combined total value = 169,982,750,000

Strike 13425 has a total call value of 4,271,750,000 versus a total put value of 154,258,650,000 Combined total value = 158,530,400,000

Strike 13450 has a total call value of 4,472,300,000 versus a total put value of 142,634,800,000 Combined total value = 147,107,100,000

Strike 13475 has a total call value of 4,677,400,000 versus a total put value of 131,103,000,000 Combined total value = 135,780,400,000

Strike 13500 has a total call value of 4,882,850,000 versus a total put value of 119,604,100,000 Combined total value = 124,486,950,000

Strike 13525 has a total call value of 5,551,700,000 versus a total put value of 110,932,850,000 Combined total value = 116,484,550,000

Strike 13550 has a total call value of 6,231,050,000 versus a total put value of 102,303,950,000 Combined total value = 108,535,000,000

Strike 13575 has a total call value of 6,966,050,000 versus a total put value of 93,826,600,000 Combined total value = 100,792,650,000

Strike 13600 has a total call value of 7,724,150,000 versus a total put value of 85,410,500,000 Combined total value = 93,134,650,000

Strike 13625 has a total call value of 8,882,650,000 versus a total put value of 78,549,100,000 Combined total value = 87,431,750,000

Strike 13650 has a total call value of 10,074,050,000 versus a total put value of 71,745,100,000 Combined total value = 81,819,150,000

Strike 13675 has a total call value of 11,432,750,000 versus a total put value of 65,194,850,000 Combined total value = 76,627,600,000

Strike 13700 has a total call value of 12,890,150,000 versus a total put value of 58,741,550,000 Combined total value = 71,631,700,000

Strike 13725 has a total call value of 15,532,300,000 versus a total put value of 53,278,750,000 Combined total value = 68,811,050,000

Strike 13750 has a total call value of 18,298,700,000 versus a total put value of 47,930,050,000 Combined total value = 66,228,750,000

Strike 13775 has a total call value of 21,494,550,000 versus a total put value of 42,864,500,000 Combined total value = 64,359,050,000

Strike 13800 has a total call value of 24,833,200,000 versus a total put value of 37,859,150,000 Combined total value = 62,692,350,000

Strike 13825 has a total call value of 29,727,600,000 versus a total put value of 34,213,200,000 Combined total value = 63,940,800,000

Strike 13850 has a total call value of 34,840,400,000 versus a total put value of 30,644,600,000 Combined total value = 65,485,000,000

Strike 13875 has a total call value of 40,168,450,000 versus a total put value of 27,200,950,000 Combined total value = 67,369,400,000

Strike 13900 has a total call value of 45,603,950,000 versus a total put value of 23,802,450,000 Combined total value = 69,406,400,000

Strike 13925 has a total call value of 52,171,000,000 versus a total put value of 20,964,650,000 Combined total value = 73,135,650,000

Strike 13950 has a total call value of 58,829,750,000 versus a total put value of 18,157,300,000 Combined total value = 76,987,050,000

Strike 13975 has a total call value of 65,689,750,000 versus a total put value of 15,445,850,000 Combined total value = 81,135,600,000

Strike 14000 has a total call value of 72,663,500,000 versus a total put value of 12,773,950,000 Combined total value = 85,437,450,000

Strike 14025 has a total call value of 82,364,800,000 versus a total put value of 11,374,650,000 Combined total value = 93,739,450,000

Strike 14050 has a total call value of 92,158,150,000 versus a total put value of 10,014,550,000 Combined total value = 102,172,700,000

Strike 14075 has a total call value of 102,287,850,000 versus a total put value of 8,730,400,000 Combined total value = 111,018,250,000

Strike 14100 has a total call value of 112,525,000,000 versus a total put value of 7,483,000,000 Combined total value = 120,008,000,000

Strike 14125 has a total call value of 124,393,850,000 versus a total put value of 6,916,000,000 Combined total value = 131,309,850,000

Strike 14150 has a total call value of 136,334,100,000 versus a total put value of 6,381,900,000 Combined total value = 142,716,000,000

Strike 14175 has a total call value of 148,478,750,000 versus a total put value of 5,912,200,000 Combined total value = 154,390,950,000

Strike 14200 has a total call value of 160,693,750,000 versus a total put value of 5,461,750,000 Combined total value = 166,155,500,000

Strike 14225 has a total call value of 174,993,700,000 versus a total put value of 5,085,500,000 Combined total value = 180,079,200,000

Strike 14250 has a total call value of 189,348,600,000 versus a total put value of 4,715,200,000 Combined total value = 194,063,800,000

Strike 14275 has a total call value of 204,120,700,000 versus a total put value of 4,373,950,000 Combined total value = 208,494,650,000

Strike 14300 has a total call value of 218,936,900,000 versus a total put value of 4,045,300,000 Combined total value = 222,982,200,000

Strike 14325 has a total call value of 235,428,550,000 versus a total put value of 3,836,000,000 Combined total value = 239,264,550,000

Strike 14350 has a total call value of 251,966,750,000 versus a total put value of 3,626,700,000 Combined total value = 255,593,450,000

Strike 14375 has a total call value of 268,602,600,000 versus a total put value of 3,417,400,000 Combined total value = 272,020,000,000

Strike 14400 has a total call value of 285,271,350,000 versus a total put value of 3,208,100,000 Combined total value = 288,479,450,000

Strike 14425 has a total call value of 303,368,800,000 versus a total put value of 3,026,450,000 Combined total value = 306,395,250,000

Strike 14450 has a total call value of 321,506,500,000 versus a total put value of 2,844,800,000 Combined total value = 324,351,300,000

Strike 14475 has a total call value of 339,744,650,000 versus a total put value of 2,663,500,000 Combined total value = 342,408,150,000

Strike 14500 has a total call value of 357,999,250,000 versus a total put value of 2,482,200,000 Combined total value = 360,481,450,000

Strike 14525 has a total call value of 378,913,500,000 versus a total put value of 2,361,800,000 Combined total value = 381,275,300,000

Strike 14550 has a total call value of 399,840,000,000 versus a total put value of 2,241,400,000 Combined total value = 402,081,400,000

Strike 14575 has a total call value of 420,948,500,000 versus a total put value of 2,121,000,000 Combined total value = 423,069,500,000

Strike 14600 has a total call value of 442,069,250,000 versus a total put value of 2,000,600,000 Combined total value = 444,069,850,000

Strike 14625 has a total call value of 463,826,300,000 versus a total put value of 1,880,200,000 Combined total value = 465,706,500,000

Strike 14650 has a total call value of 485,590,000,000 versus a total put value of 1,759,800,000 Combined total value = 487,349,800,000

Strike 14675 has a total call value of 507,448,200,000 versus a total put value of 1,639,400,000 Combined total value = 509,087,600,000

Strike 14700 has a total call value of 529,318,300,000 versus a total put value of 1,519,000,000 Combined total value = 530,837,300,000

Strike 14725 has a total call value of 552,090,350,000 versus a total put value of 1,398,600,000 Combined total value = 553,488,950,000

Strike 14750 has a total call value of 574,870,450,000 versus a total put value of 1,278,200,000 Combined total value = 576,148,650,000

Strike 14775 has a total call value of 597,664,900,000 versus a total put value of 1,157,800,000 Combined total value = 598,822,700,000

Strike 14800 has a total call value of 620,459,350,000 versus a total put value of 1,037,400,000 Combined total value = 621,496,750,000

Strike 14825 has a total call value of 644,305,550,000 versus a total put value of 917,350,000 Combined total value = 645,222,900,000

Strike 14850 has a total call value of 668,151,750,000 versus a total put value of 797,300,000 Combined total value = 668,949,050,000

Strike 14875 has a total call value of 691,997,950,000 versus a total put value of 677,250,000 Combined total value = 692,675,200,000

Strike 14900 has a total call value of 715,844,150,000 versus a total put value of 557,200,000 Combined total value = 716,401,350,000

Strike 14925 has a total call value of 739,950,750,000 versus a total put value of 437,150,000 Combined total value = 740,387,900,000

Strike 14950 has a total call value of 764,057,350,000 versus a total put value of 317,100,000 Combined total value = 764,374,450,000

Strike 14975 has a total call value of 788,163,950,000 versus a total put value of 197,050,000 Combined total value = 788,361,000,000

Strike 15000 has a total call value of 812,270,550,000 versus a total put value of 77,000,000 Combined total value = 812,347,550,000

Strike 15025 has a total call value of 838,052,950,000 versus a total put value of 73,150,000 Combined total value = 838,126,100,000

Strike 15050 has a total call value of 863,835,350,000 versus a total put value of 69,300,000 Combined total value = 863,904,650,000

Strike 15075 has a total call value of 889,617,750,000 versus a total put value of 65,450,000 Combined total value = 889,683,200,000

Strike 15100 has a total call value of 915,400,150,000 versus a total put value of 61,600,000 Combined total value = 915,461,750,000

Strike 15125 has a total call value of 941,245,900,000 versus a total put value of 57,750,000 Combined total value = 941,303,650,000

Strike 15150 has a total call value of 967,091,650,000 versus a total put value of 53,900,000 Combined total value = 967,145,550,000

Strike 15175 has a total call value of 992,937,400,000 versus a total put value of 50,050,000 Combined total value = 992,987,450,000

Strike 15200 has a total call value of 1,018,783,150,000 versus a total put value of 46,200,000 Combined total value = 1,018,829,350,000

Strike 15225 has a total call value of 1,044,643,950,000 versus a total put value of 42,350,000 Combined total value = 1,044,686,300,000

Strike 15250 has a total call value of 1,070,504,750,000 versus a total put value of 38,500,000 Combined total value = 1,070,543,250,000

Strike 15275 has a total call value of 1,096,365,550,000 versus a total put value of 34,650,000 Combined total value = 1,096,400,200,000

Strike 15300 has a total call value of 1,122,226,350,000 versus a total put value of 30,800,000 Combined total value = 1,122,257,150,000

Strike 15325 has a total call value of 1,148,145,250,000 versus a total put value of 26,950,000 Combined total value = 1,148,172,200,000

Strike 15350 has a total call value of 1,174,064,150,000 versus a total put value of 23,100,000 Combined total value = 1,174,087,250,000

Strike 15375 has a total call value of 1,199,983,050,000 versus a total put value of 19,250,000 Combined total value = 1,200,002,300,000

Strike 15400 has a total call value of 1,225,901,950,000 versus a total put value of 15,400,000 Combined total value = 1,225,917,350,000

Strike 15425 has a total call value of 1,251,838,000,000 versus a total put value of 11,550,000 Combined total value = 1,251,849,550,000

Strike 15450 has a total call value of 1,277,774,050,000 versus a total put value of 7,700,000 Combined total value = 1,277,781,750,000

Strike 15475 has a total call value of 1,303,710,100,000 versus a total put value of 3,850,000 Combined total value = 1,303,713,950,000

Strike 15500 has a total call value of 1,329,646,150,000 versus a total put value of 0 Combined total value = 1,329,646,150,000

Strike 15525 has a total call value of 1,355,905,950,000 versus a total put value of 0 Combined total value = 1,355,905,950,000

Strike 15550 has a total call value of 1,382,165,750,000 versus a total put value of 0 Combined total value = 1,382,165,750,000

Strike 15575 has a total call value of 1,408,425,550,000 versus a total put value of 0 Combined total value = 1,408,425,550,000

Strike 15600 has a total call value of 1,434,685,350,000 versus a total put value of 0 Combined total value = 1,434,685,350,000

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	1125.5	1140
ABB	5180	5200
ABCAPITAL	348.05	350
ADANIENSOL	982.8	990
ADANIENT	2228.6	2300
ADANIGREEN	1021.7	1020
ADANIPORTS	1485.4	1500
ALKEM	5595	5700
AMBER	6590.5	6800
AMBUJACEM	541.65	555
ANGELONE	2497	2600
APLAPOLLO	1766.6	1760
APOLLOHOSP	6936.5	7150
ASHOKLEY	165.34	160
ASIANPAINT	2777.8	2800
ASTRAL	1437.8	1460
AUBANK	989.1	960
AUROPHARMA	1192.5	1200
AXISBANK	1229.8	1240
BAJAJ-AUTO	8930	9000
BAJAJFINSV	2013.5	2060
BAJFINANCE	997.2	1020
BANDHANBNK	148.09	150
BANKBARODA	287.5	290
BANKINDIA	142.37	143
BDL	1331.8	1400
BEL	385.95	400
BHARATFORG	1413.5	1400
BHARTIARTL	2102	2100
BHEL	276.75	280
BIOCON	387.1	390
BLUESTARCO	1822	1780
BOSCHLTD	35930	36500
BPCL	367.55	365
BRITANNIA	6102	6000
BSE	2639.5	2700
CAMS	736.2	780
CANBK	150.12	150
CDSL	1480.4	1560
CGPOWER	672.1	680
CHOLAFIN	1671	1700
CIPLA	1495.1	1520
COALINDIA	383	384.75
COFORGE	1854	1840
COLPAL	2106.1	2180
CONCOR	497.85	520
CROMPTON	250.15	265
CUMMINSIND	4513.1	4500
CYIENT	1141.9	1160
DABUR	494.3	500
DALBHARAT	2076.8	2040
DELHIVERY	398.1	410
DIVISLAB	6300	6400
DIXON	13300	13750
DLF	681.95	710
DMART	3820.1	3900
DRREDDY	1270	1270
EICHERMOT	7152	7150
ETERNAL	284.85	295
EXIDEIND	364	375
FEDERALBNK	263.45	260
FORTIS	870.8	890
GAIL	168.6	175
GLENMARK	1947	1940
GMRAIRPORT	101.19	102
GODREJCP	1176.1	1160
GODREJPROP	2016.1	2080
GRASIM	2793.3	2800
HAL	4235.1	4450
HAVELLS	1395.8	1440
HCLTECH	1656	1660
HDFCAMC	2546.8	2600
HDFCBANK	981.3	995
HDFCLIFE	750.95	770
HEROMOTOCO	5821	6000
HFCL	64.6	68
HINDALCO	846.7	820
HINDPETRO	466.05	460
HINDUNILVR	2272.3	2300
HINDZINC	574.95	550
HUDCO	208.26	220
ICICIBANK	1349.1	1370
ICICIGI	1940.8	1980
ICICIPRULI	630	630
IDEA	11.14	11
IDFCFIRSTB	83.5	82
IEX	140.77	145
IIFL	564.75	560
INDHOTEL	712.85	730
INDIANB	774.55	810
INDIGO	4972	5000
INDUSINDBK	836.2	850
INDUSTOWER	406.45	410
INFY	1602.8	1600
INOXWIND	126.1	130
IOC	167.84	166
IRCTC	667.35	690
IREDA	131.95	140
IRFC	111.27	116
ITC	400.85	405
JINDALSTEL	1001.5	1020
JIOFIN	292.95	305
JSWENERGY	475.75	490
JSWSTEEL	1079.6	1120
JUBLFOOD	551	580
KALYANKJIL	472.95	480
KAYNES	4168.5	4400
KEI	4095.1	4100
KFINTECH	1030.6	1060
KOTAKBANK	2166.4	2160
KPITTECH	1171.2	1200
LAURUSLABS	1009.8	1000
LICHSGFIN	525.7	550
LICI	846.05	870
LODHA	1064.7	1100
LT	4054	4040
LTF	301.15	302.5
LTIM	6241.5	6150
LUPIN	2109.7	2080
M&M	3604	3650
MANAPPURAM	285.4	280
MANKIND	2097.7	2200
MARICO	738.9	740
MARUTI	16395	16300
MAXHEALTH	1028	1080
MAZDOCK	2364.5	2500
MCX	10074	10100
MFSL	1655.7	1680
MOTHERSON	119.63	116
MPHASIS	2866.2	2900
MUTHOOTFIN	3765.6	3750
NATIONALUM	279.2	270
NAUKRI	1344.6	1360
NBCC	109.89	112
NCC	155.85	165
NESTLEIND	1228.5	1240
NHPC	75.45	78
NMDC	77.19	77
NTPC	320.75	325
NUVAMA	7195	7200
NYKAA	244.6	255
OBEROIRLTY	1616	1640
OFSS	7748	8000
OIL	398.65	410
ONGC	232.59	237.5
PAGEIND	36280	37000
PATANJALI	534.25	540
PAYTM	1267.6	1300
PERSISTENT	6283.5	6300
PETRONET	268.2	278
PFC	335.5	355
PGEL	558.8	560
PHOENIXLTD	1778.1	1740
PIDILITIND	1451	1480
PIIND	3202.8	3300
PNB	119.06	120
PNBHOUSING	897	910
POLICYBZR	1780	1840
POLYCAB	7109	7200
POWERGRID	261.3	270
POWERINDIA	19145	19500
PPLPHARMA	169	180
PRESTIGE	1606	1660
RBLBANK	295.85	305
RECLTD	334.05	350
RELIANCE	1545.7	1540
RVNL	307.1	315
SAIL	129.74	132
SAMMAANCAP	149.05	155
SBICARD	831.15	870
SBILIFE	1999.9	2020
SBIN	976.3	970
SHREECEM	25955	26500
SHRIRAMFIN	861.5	850
SIEMENS	3147.7	3200
SOLARINDS	11846	12500
SONACOMS	492.25	500
SRF	3018	2950
SUNPHARMA	1794.4	1800
SUPREMEIND	3351	3400
SUZLON	51.97	54
SYNGENE	647.25	650
TATACONSUM	1181.2	1170
TATAELXSI	4977.5	5000
TATAMOTORS	0	320
TATAPOWER	378.55	390
TATASTEEL	169.92	170
TATATECH	641.95	670
TCS	3217.2	3200
TECHM	1576.8	1560
TIINDIA	2608.5	2700
TITAGARH	775.5	800
TITAN	3902.5	3880
TMPV	348	360
TORNTPHARM	3744.1	3750
TORNTPOWER	1284.5	1300
TRENT	4054.1	4200
TVSMOTOR	3646	3600
ULTRACEMCO	11556	11700
UNIONBANK	153.24	155
UNITDSPR	1432.5	1440
UNOMINDA	1244.7	1280
UPL	745.65	750
VBL	470.8	470
VEDL	569.35	550
VOLTAS	1380.8	1380
WIPRO	261.08	255
YESBANK	21.53	22
ZYDUSLIFE	917.9	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.

Related Pages for MIDCPNIFTY

MIDCPNIFTY

360ONE

ABB

ABCAPITAL

ADANIENSOL

ADANIENT

ADANIGREEN

ADANIPORTS

ALKEM

AMBER

AMBUJACEM

ANGELONE

APLAPOLLO

APOLLOHOSP

ASHOKLEY

ASIANPAINT

ASTRAL

AUBANK

AUROPHARMA

AXISBANK

BAJAJ-AUTO

BAJAJFINSV

BAJFINANCE

BANDHANBNK

BANKBARODA

BANKEX

BANKINDIA

BANKNIFTY

BDL

BEL

BHARATFORG

BHARTIARTL

BHEL

BIOCON

BLUESTARCO

BOSCHLTD

BPCL

BRITANNIA

BSE

CAMS

CANBK

CDSL

CGPOWER

CHOLAFIN

CIPLA

COALINDIA

COFORGE

COLPAL

CONCOR

COPPER

CROMPTON

CRUDEOIL

CRUDEOILM

CUMMINSIND

CYIENT

DABUR

DALBHARAT

DELHIVERY

DIVISLAB

DIXON

DLF

DMART

DRREDDY

EICHERMOT

ETERNAL

EURINR

EURUSD

EXIDEIND

FEDERALBNK

FINNIFTY

FORTIS

GAIL

GBPINR

GBPUSD

GLENMARK

GMRAIRPORT

GODREJCP

GODREJPROP

GOLD