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.

SILVER

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.

Silver

203609 +5854.00 (2.96%)

L: 199201 H: 206111

Max Pain - SILVER

17 Dec 2025 01:45 PM IST

Live

Expiry

Max Pain for SILVER is 190000

Historical data for SILVER-190000-CE

LTP (190000 CE)

14702.5 4781

Open Interest

462 -61

Historical data for SILVER-190000-PE

LTP (190000 PE)

1250 -944.5

Open Interest

954 48

Strike 125000 has a total call value of 0 versus a total put value of 1,765,347,000,000 Combined total value = 1,765,347,000,000

Strike 125250 has a total call value of 0 versus a total put value of 1,755,452,250,000 Combined total value = 1,755,452,250,000

Strike 125500 has a total call value of 0 versus a total put value of 1,745,557,500,000 Combined total value = 1,745,557,500,000

Strike 125750 has a total call value of 0 versus a total put value of 1,735,662,750,000 Combined total value = 1,735,662,750,000

Strike 126000 has a total call value of 0 versus a total put value of 1,725,768,000,000 Combined total value = 1,725,768,000,000

Strike 126250 has a total call value of 0 versus a total put value of 1,715,873,250,000 Combined total value = 1,715,873,250,000

Strike 126500 has a total call value of 0 versus a total put value of 1,705,978,500,000 Combined total value = 1,705,978,500,000

Strike 126750 has a total call value of 0 versus a total put value of 1,696,083,750,000 Combined total value = 1,696,083,750,000

Strike 127000 has a total call value of 0 versus a total put value of 1,686,189,000,000 Combined total value = 1,686,189,000,000

Strike 127250 has a total call value of 0 versus a total put value of 1,676,294,250,000 Combined total value = 1,676,294,250,000

Strike 127500 has a total call value of 0 versus a total put value of 1,666,399,500,000 Combined total value = 1,666,399,500,000

Strike 127750 has a total call value of 0 versus a total put value of 1,656,504,750,000 Combined total value = 1,656,504,750,000

Strike 128000 has a total call value of 0 versus a total put value of 1,646,610,000,000 Combined total value = 1,646,610,000,000

Strike 128250 has a total call value of 0 versus a total put value of 1,636,715,250,000 Combined total value = 1,636,715,250,000

Strike 128500 has a total call value of 0 versus a total put value of 1,626,820,500,000 Combined total value = 1,626,820,500,000

Strike 128750 has a total call value of 0 versus a total put value of 1,616,925,750,000 Combined total value = 1,616,925,750,000

Strike 129000 has a total call value of 0 versus a total put value of 1,607,031,000,000 Combined total value = 1,607,031,000,000

Strike 129250 has a total call value of 0 versus a total put value of 1,597,136,250,000 Combined total value = 1,597,136,250,000

Strike 129500 has a total call value of 0 versus a total put value of 1,587,241,500,000 Combined total value = 1,587,241,500,000

Strike 129750 has a total call value of 0 versus a total put value of 1,577,346,750,000 Combined total value = 1,577,346,750,000

Strike 130000 has a total call value of 0 versus a total put value of 1,567,452,000,000 Combined total value = 1,567,452,000,000

Strike 130250 has a total call value of 0 versus a total put value of 1,557,712,500,000 Combined total value = 1,557,712,500,000

Strike 130500 has a total call value of 0 versus a total put value of 1,547,973,000,000 Combined total value = 1,547,973,000,000

Strike 130750 has a total call value of 0 versus a total put value of 1,538,233,500,000 Combined total value = 1,538,233,500,000

Strike 131000 has a total call value of 0 versus a total put value of 1,528,494,000,000 Combined total value = 1,528,494,000,000

Strike 131250 has a total call value of 0 versus a total put value of 1,518,754,500,000 Combined total value = 1,518,754,500,000

Strike 131500 has a total call value of 0 versus a total put value of 1,509,015,000,000 Combined total value = 1,509,015,000,000

Strike 131750 has a total call value of 0 versus a total put value of 1,499,275,500,000 Combined total value = 1,499,275,500,000

Strike 132000 has a total call value of 0 versus a total put value of 1,489,536,000,000 Combined total value = 1,489,536,000,000

Strike 132250 has a total call value of 0 versus a total put value of 1,479,796,500,000 Combined total value = 1,479,796,500,000

Strike 132500 has a total call value of 0 versus a total put value of 1,470,057,000,000 Combined total value = 1,470,057,000,000

Strike 132750 has a total call value of 0 versus a total put value of 1,460,317,500,000 Combined total value = 1,460,317,500,000

Strike 133000 has a total call value of 0 versus a total put value of 1,450,578,000,000 Combined total value = 1,450,578,000,000

Strike 133250 has a total call value of 0 versus a total put value of 1,440,838,500,000 Combined total value = 1,440,838,500,000

Strike 133500 has a total call value of 0 versus a total put value of 1,431,099,000,000 Combined total value = 1,431,099,000,000

Strike 133750 has a total call value of 0 versus a total put value of 1,421,359,500,000 Combined total value = 1,421,359,500,000

Strike 134000 has a total call value of 0 versus a total put value of 1,411,620,000,000 Combined total value = 1,411,620,000,000

Strike 134250 has a total call value of 0 versus a total put value of 1,401,880,500,000 Combined total value = 1,401,880,500,000

Strike 134500 has a total call value of 0 versus a total put value of 1,392,141,000,000 Combined total value = 1,392,141,000,000

Strike 134750 has a total call value of 0 versus a total put value of 1,382,401,500,000 Combined total value = 1,382,401,500,000

Strike 135000 has a total call value of 0 versus a total put value of 1,372,662,000,000 Combined total value = 1,372,662,000,000

Strike 135250 has a total call value of 0 versus a total put value of 1,363,089,000,000 Combined total value = 1,363,089,000,000

Strike 135500 has a total call value of 0 versus a total put value of 1,353,516,000,000 Combined total value = 1,353,516,000,000

Strike 135750 has a total call value of 0 versus a total put value of 1,343,943,000,000 Combined total value = 1,343,943,000,000

Strike 136000 has a total call value of 0 versus a total put value of 1,334,370,000,000 Combined total value = 1,334,370,000,000

Strike 136250 has a total call value of 0 versus a total put value of 1,324,797,000,000 Combined total value = 1,324,797,000,000

Strike 136500 has a total call value of 0 versus a total put value of 1,315,224,000,000 Combined total value = 1,315,224,000,000

Strike 136750 has a total call value of 0 versus a total put value of 1,305,651,000,000 Combined total value = 1,305,651,000,000

Strike 137000 has a total call value of 0 versus a total put value of 1,296,078,000,000 Combined total value = 1,296,078,000,000

Strike 137250 has a total call value of 0 versus a total put value of 1,286,505,000,000 Combined total value = 1,286,505,000,000

Strike 137500 has a total call value of 0 versus a total put value of 1,276,932,000,000 Combined total value = 1,276,932,000,000

Strike 137750 has a total call value of 0 versus a total put value of 1,267,359,000,000 Combined total value = 1,267,359,000,000

Strike 138000 has a total call value of 0 versus a total put value of 1,257,786,000,000 Combined total value = 1,257,786,000,000

Strike 138250 has a total call value of 0 versus a total put value of 1,248,213,000,000 Combined total value = 1,248,213,000,000

Strike 138500 has a total call value of 0 versus a total put value of 1,238,640,000,000 Combined total value = 1,238,640,000,000

Strike 138750 has a total call value of 0 versus a total put value of 1,229,067,000,000 Combined total value = 1,229,067,000,000

Strike 139000 has a total call value of 0 versus a total put value of 1,219,494,000,000 Combined total value = 1,219,494,000,000

Strike 139250 has a total call value of 0 versus a total put value of 1,209,921,000,000 Combined total value = 1,209,921,000,000

Strike 139500 has a total call value of 0 versus a total put value of 1,200,348,000,000 Combined total value = 1,200,348,000,000

Strike 139750 has a total call value of 0 versus a total put value of 1,190,775,000,000 Combined total value = 1,190,775,000,000

Strike 140000 has a total call value of 0 versus a total put value of 1,181,202,000,000 Combined total value = 1,181,202,000,000

Strike 140250 has a total call value of 0 versus a total put value of 1,172,025,750,000 Combined total value = 1,172,025,750,000

Strike 140500 has a total call value of 0 versus a total put value of 1,162,849,500,000 Combined total value = 1,162,849,500,000

Strike 140750 has a total call value of 0 versus a total put value of 1,153,673,250,000 Combined total value = 1,153,673,250,000

Strike 141000 has a total call value of 0 versus a total put value of 1,144,497,000,000 Combined total value = 1,144,497,000,000

Strike 141250 has a total call value of 0 versus a total put value of 1,135,320,750,000 Combined total value = 1,135,320,750,000

Strike 141500 has a total call value of 0 versus a total put value of 1,126,144,500,000 Combined total value = 1,126,144,500,000

Strike 141750 has a total call value of 0 versus a total put value of 1,116,968,250,000 Combined total value = 1,116,968,250,000

Strike 142000 has a total call value of 0 versus a total put value of 1,107,792,000,000 Combined total value = 1,107,792,000,000

Strike 142250 has a total call value of 0 versus a total put value of 1,098,615,750,000 Combined total value = 1,098,615,750,000

Strike 142500 has a total call value of 0 versus a total put value of 1,089,439,500,000 Combined total value = 1,089,439,500,000

Strike 142750 has a total call value of 0 versus a total put value of 1,080,263,250,000 Combined total value = 1,080,263,250,000

Strike 143000 has a total call value of 0 versus a total put value of 1,071,087,000,000 Combined total value = 1,071,087,000,000

Strike 143250 has a total call value of 0 versus a total put value of 1,061,910,750,000 Combined total value = 1,061,910,750,000

Strike 143500 has a total call value of 0 versus a total put value of 1,052,734,500,000 Combined total value = 1,052,734,500,000

Strike 143750 has a total call value of 0 versus a total put value of 1,043,558,250,000 Combined total value = 1,043,558,250,000

Strike 144000 has a total call value of 0 versus a total put value of 1,034,382,000,000 Combined total value = 1,034,382,000,000

Strike 144250 has a total call value of 0 versus a total put value of 1,025,205,750,000 Combined total value = 1,025,205,750,000

Strike 144500 has a total call value of 0 versus a total put value of 1,016,029,500,000 Combined total value = 1,016,029,500,000

Strike 144750 has a total call value of 0 versus a total put value of 1,006,853,250,000 Combined total value = 1,006,853,250,000

Strike 145000 has a total call value of 0 versus a total put value of 997,677,000,000 Combined total value = 997,677,000,000

Strike 145250 has a total call value of 0 versus a total put value of 988,851,750,000 Combined total value = 988,851,750,000

Strike 145500 has a total call value of 0 versus a total put value of 980,026,500,000 Combined total value = 980,026,500,000

Strike 145750 has a total call value of 0 versus a total put value of 971,201,250,000 Combined total value = 971,201,250,000

Strike 146000 has a total call value of 0 versus a total put value of 962,376,000,000 Combined total value = 962,376,000,000

Strike 146250 has a total call value of 0 versus a total put value of 953,550,750,000 Combined total value = 953,550,750,000

Strike 146500 has a total call value of 0 versus a total put value of 944,725,500,000 Combined total value = 944,725,500,000

Strike 146750 has a total call value of 0 versus a total put value of 935,900,250,000 Combined total value = 935,900,250,000

Strike 147000 has a total call value of 0 versus a total put value of 927,075,000,000 Combined total value = 927,075,000,000

Strike 147250 has a total call value of 0 versus a total put value of 918,249,750,000 Combined total value = 918,249,750,000

Strike 147500 has a total call value of 0 versus a total put value of 909,424,500,000 Combined total value = 909,424,500,000

Strike 147750 has a total call value of 0 versus a total put value of 900,599,250,000 Combined total value = 900,599,250,000

Strike 148000 has a total call value of 0 versus a total put value of 891,774,000,000 Combined total value = 891,774,000,000

Strike 148250 has a total call value of 0 versus a total put value of 882,948,750,000 Combined total value = 882,948,750,000

Strike 148500 has a total call value of 0 versus a total put value of 874,123,500,000 Combined total value = 874,123,500,000

Strike 148750 has a total call value of 0 versus a total put value of 865,298,250,000 Combined total value = 865,298,250,000

Strike 149000 has a total call value of 0 versus a total put value of 856,473,000,000 Combined total value = 856,473,000,000

Strike 149250 has a total call value of 0 versus a total put value of 847,647,750,000 Combined total value = 847,647,750,000

Strike 149500 has a total call value of 0 versus a total put value of 838,822,500,000 Combined total value = 838,822,500,000

Strike 149750 has a total call value of 0 versus a total put value of 829,997,250,000 Combined total value = 829,997,250,000

Strike 150000 has a total call value of 0 versus a total put value of 821,172,000,000 Combined total value = 821,172,000,000

Strike 150250 has a total call value of 70,500,000 versus a total put value of 813,513,750,000 Combined total value = 813,584,250,000

Strike 150500 has a total call value of 141,000,000 versus a total put value of 805,855,500,000 Combined total value = 805,996,500,000

Strike 150750 has a total call value of 211,500,000 versus a total put value of 798,197,250,000 Combined total value = 798,408,750,000

Strike 151000 has a total call value of 282,000,000 versus a total put value of 790,539,000,000 Combined total value = 790,821,000,000

Strike 151250 has a total call value of 352,500,000 versus a total put value of 782,880,750,000 Combined total value = 783,233,250,000

Strike 151500 has a total call value of 423,000,000 versus a total put value of 775,222,500,000 Combined total value = 775,645,500,000

Strike 151750 has a total call value of 493,500,000 versus a total put value of 767,564,250,000 Combined total value = 768,057,750,000

Strike 152000 has a total call value of 564,000,000 versus a total put value of 759,906,000,000 Combined total value = 760,470,000,000

Strike 152250 has a total call value of 634,500,000 versus a total put value of 752,247,750,000 Combined total value = 752,882,250,000

Strike 152500 has a total call value of 705,000,000 versus a total put value of 744,589,500,000 Combined total value = 745,294,500,000

Strike 152750 has a total call value of 775,500,000 versus a total put value of 736,931,250,000 Combined total value = 737,706,750,000

Strike 153000 has a total call value of 846,000,000 versus a total put value of 729,273,000,000 Combined total value = 730,119,000,000

Strike 153250 has a total call value of 916,500,000 versus a total put value of 721,706,250,000 Combined total value = 722,622,750,000

Strike 153500 has a total call value of 987,000,000 versus a total put value of 714,139,500,000 Combined total value = 715,126,500,000

Strike 153750 has a total call value of 1,057,500,000 versus a total put value of 706,572,750,000 Combined total value = 707,630,250,000

Strike 154000 has a total call value of 1,128,000,000 versus a total put value of 699,006,000,000 Combined total value = 700,134,000,000

Strike 154250 has a total call value of 1,198,500,000 versus a total put value of 691,439,250,000 Combined total value = 692,637,750,000

Strike 154500 has a total call value of 1,269,000,000 versus a total put value of 683,872,500,000 Combined total value = 685,141,500,000

Strike 154750 has a total call value of 1,339,500,000 versus a total put value of 676,305,750,000 Combined total value = 677,645,250,000

Strike 155000 has a total call value of 1,410,000,000 versus a total put value of 668,739,000,000 Combined total value = 670,149,000,000

Strike 155250 has a total call value of 1,480,500,000 versus a total put value of 661,530,750,000 Combined total value = 663,011,250,000

Strike 155500 has a total call value of 1,551,000,000 versus a total put value of 654,322,500,000 Combined total value = 655,873,500,000

Strike 155750 has a total call value of 1,621,500,000 versus a total put value of 647,114,250,000 Combined total value = 648,735,750,000

Strike 156000 has a total call value of 1,692,000,000 versus a total put value of 639,906,000,000 Combined total value = 641,598,000,000

Strike 156250 has a total call value of 1,762,500,000 versus a total put value of 632,697,750,000 Combined total value = 634,460,250,000

Strike 156500 has a total call value of 1,833,000,000 versus a total put value of 625,489,500,000 Combined total value = 627,322,500,000

Strike 156750 has a total call value of 1,903,500,000 versus a total put value of 618,281,250,000 Combined total value = 620,184,750,000

Strike 157000 has a total call value of 1,974,000,000 versus a total put value of 611,073,000,000 Combined total value = 613,047,000,000

Strike 157250 has a total call value of 2,044,500,000 versus a total put value of 603,864,750,000 Combined total value = 605,909,250,000

Strike 157500 has a total call value of 2,115,000,000 versus a total put value of 596,656,500,000 Combined total value = 598,771,500,000

Strike 157750 has a total call value of 2,185,500,000 versus a total put value of 589,448,250,000 Combined total value = 591,633,750,000

Strike 158000 has a total call value of 2,256,000,000 versus a total put value of 582,240,000,000 Combined total value = 584,496,000,000

Strike 158250 has a total call value of 2,326,500,000 versus a total put value of 575,112,750,000 Combined total value = 577,439,250,000

Strike 158500 has a total call value of 2,397,000,000 versus a total put value of 567,985,500,000 Combined total value = 570,382,500,000

Strike 158750 has a total call value of 2,467,500,000 versus a total put value of 560,858,250,000 Combined total value = 563,325,750,000

Strike 159000 has a total call value of 2,538,000,000 versus a total put value of 553,731,000,000 Combined total value = 556,269,000,000

Strike 159250 has a total call value of 2,608,500,000 versus a total put value of 546,700,500,000 Combined total value = 549,309,000,000

Strike 159500 has a total call value of 2,679,000,000 versus a total put value of 539,670,000,000 Combined total value = 542,349,000,000

Strike 159750 has a total call value of 2,749,500,000 versus a total put value of 532,639,500,000 Combined total value = 535,389,000,000

Strike 160000 has a total call value of 2,820,000,000 versus a total put value of 525,609,000,000 Combined total value = 528,429,000,000

Strike 160250 has a total call value of 3,144,750,000 versus a total put value of 519,262,500,000 Combined total value = 522,407,250,000

Strike 160500 has a total call value of 3,469,500,000 versus a total put value of 512,916,000,000 Combined total value = 516,385,500,000

Strike 160750 has a total call value of 3,794,250,000 versus a total put value of 506,569,500,000 Combined total value = 510,363,750,000

Strike 161000 has a total call value of 4,119,000,000 versus a total put value of 500,223,000,000 Combined total value = 504,342,000,000

Strike 161250 has a total call value of 4,443,750,000 versus a total put value of 493,962,750,000 Combined total value = 498,406,500,000

Strike 161500 has a total call value of 4,768,500,000 versus a total put value of 487,702,500,000 Combined total value = 492,471,000,000

Strike 161750 has a total call value of 5,093,250,000 versus a total put value of 481,442,250,000 Combined total value = 486,535,500,000

Strike 162000 has a total call value of 5,418,000,000 versus a total put value of 475,182,000,000 Combined total value = 480,600,000,000

Strike 162250 has a total call value of 5,742,750,000 versus a total put value of 469,039,500,000 Combined total value = 474,782,250,000

Strike 162500 has a total call value of 6,067,500,000 versus a total put value of 462,897,000,000 Combined total value = 468,964,500,000

Strike 162750 has a total call value of 6,392,250,000 versus a total put value of 456,754,500,000 Combined total value = 463,146,750,000

Strike 163000 has a total call value of 6,717,000,000 versus a total put value of 450,612,000,000 Combined total value = 457,329,000,000

Strike 163250 has a total call value of 7,041,750,000 versus a total put value of 444,469,500,000 Combined total value = 451,511,250,000

Strike 163500 has a total call value of 7,366,500,000 versus a total put value of 438,327,000,000 Combined total value = 445,693,500,000

Strike 163750 has a total call value of 7,691,250,000 versus a total put value of 432,184,500,000 Combined total value = 439,875,750,000

Strike 164000 has a total call value of 8,016,000,000 versus a total put value of 426,042,000,000 Combined total value = 434,058,000,000

Strike 164250 has a total call value of 8,340,750,000 versus a total put value of 419,899,500,000 Combined total value = 428,240,250,000

Strike 164500 has a total call value of 8,665,500,000 versus a total put value of 413,757,000,000 Combined total value = 422,422,500,000

Strike 164750 has a total call value of 8,990,250,000 versus a total put value of 407,614,500,000 Combined total value = 416,604,750,000

Strike 165000 has a total call value of 9,315,000,000 versus a total put value of 401,472,000,000 Combined total value = 410,787,000,000

Strike 165250 has a total call value of 9,723,750,000 versus a total put value of 395,820,000,000 Combined total value = 405,543,750,000

Strike 165500 has a total call value of 10,132,500,000 versus a total put value of 390,168,000,000 Combined total value = 400,300,500,000

Strike 165750 has a total call value of 10,541,250,000 versus a total put value of 384,516,000,000 Combined total value = 395,057,250,000

Strike 166000 has a total call value of 10,950,000,000 versus a total put value of 378,864,000,000 Combined total value = 389,814,000,000

Strike 166250 has a total call value of 11,358,750,000 versus a total put value of 373,212,000,000 Combined total value = 384,570,750,000

Strike 166500 has a total call value of 11,767,500,000 versus a total put value of 367,560,000,000 Combined total value = 379,327,500,000

Strike 166750 has a total call value of 12,176,250,000 versus a total put value of 361,908,000,000 Combined total value = 374,084,250,000

Strike 167000 has a total call value of 12,585,000,000 versus a total put value of 356,256,000,000 Combined total value = 368,841,000,000

Strike 167250 has a total call value of 12,993,750,000 versus a total put value of 350,604,000,000 Combined total value = 363,597,750,000

Strike 167500 has a total call value of 13,402,500,000 versus a total put value of 344,952,000,000 Combined total value = 358,354,500,000

Strike 167750 has a total call value of 13,811,250,000 versus a total put value of 339,300,000,000 Combined total value = 353,111,250,000

Strike 168000 has a total call value of 14,220,000,000 versus a total put value of 333,648,000,000 Combined total value = 347,868,000,000

Strike 168250 has a total call value of 14,628,750,000 versus a total put value of 328,044,750,000 Combined total value = 342,673,500,000

Strike 168500 has a total call value of 15,037,500,000 versus a total put value of 322,441,500,000 Combined total value = 337,479,000,000

Strike 168750 has a total call value of 15,446,250,000 versus a total put value of 316,838,250,000 Combined total value = 332,284,500,000

Strike 169000 has a total call value of 15,855,000,000 versus a total put value of 311,235,000,000 Combined total value = 327,090,000,000

Strike 169250 has a total call value of 16,263,750,000 versus a total put value of 305,631,750,000 Combined total value = 321,895,500,000

Strike 169500 has a total call value of 16,672,500,000 versus a total put value of 300,028,500,000 Combined total value = 316,701,000,000

Strike 169750 has a total call value of 17,081,250,000 versus a total put value of 294,425,250,000 Combined total value = 311,506,500,000

Strike 170000 has a total call value of 17,490,000,000 versus a total put value of 288,822,000,000 Combined total value = 306,312,000,000

Strike 170250 has a total call value of 18,138,750,000 versus a total put value of 284,135,250,000 Combined total value = 302,274,000,000

Strike 170500 has a total call value of 18,787,500,000 versus a total put value of 279,448,500,000 Combined total value = 298,236,000,000

Strike 170750 has a total call value of 19,436,250,000 versus a total put value of 274,761,750,000 Combined total value = 294,198,000,000

Strike 171000 has a total call value of 20,085,000,000 versus a total put value of 270,075,000,000 Combined total value = 290,160,000,000

Strike 171250 has a total call value of 20,733,750,000 versus a total put value of 265,388,250,000 Combined total value = 286,122,000,000

Strike 171500 has a total call value of 21,382,500,000 versus a total put value of 260,701,500,000 Combined total value = 282,084,000,000

Strike 171750 has a total call value of 22,031,250,000 versus a total put value of 256,014,750,000 Combined total value = 278,046,000,000

Strike 172000 has a total call value of 22,680,000,000 versus a total put value of 251,328,000,000 Combined total value = 274,008,000,000

Strike 172250 has a total call value of 23,328,750,000 versus a total put value of 246,641,250,000 Combined total value = 269,970,000,000

Strike 172500 has a total call value of 23,977,500,000 versus a total put value of 241,954,500,000 Combined total value = 265,932,000,000

Strike 172750 has a total call value of 24,626,250,000 versus a total put value of 237,267,750,000 Combined total value = 261,894,000,000

Strike 173000 has a total call value of 25,275,000,000 versus a total put value of 232,581,000,000 Combined total value = 257,856,000,000

Strike 173250 has a total call value of 25,923,750,000 versus a total put value of 227,894,250,000 Combined total value = 253,818,000,000

Strike 173500 has a total call value of 26,572,500,000 versus a total put value of 223,207,500,000 Combined total value = 249,780,000,000

Strike 173750 has a total call value of 27,221,250,000 versus a total put value of 218,520,750,000 Combined total value = 245,742,000,000

Strike 174000 has a total call value of 27,870,000,000 versus a total put value of 213,834,000,000 Combined total value = 241,704,000,000

Strike 174250 has a total call value of 28,518,750,000 versus a total put value of 209,189,250,000 Combined total value = 237,708,000,000

Strike 174500 has a total call value of 29,167,500,000 versus a total put value of 204,544,500,000 Combined total value = 233,712,000,000

Strike 174750 has a total call value of 29,816,250,000 versus a total put value of 199,899,750,000 Combined total value = 229,716,000,000

Strike 175000 has a total call value of 30,465,000,000 versus a total put value of 195,255,000,000 Combined total value = 225,720,000,000

Strike 175250 has a total call value of 31,265,250,000 versus a total put value of 191,300,250,000 Combined total value = 222,565,500,000

Strike 175500 has a total call value of 32,065,500,000 versus a total put value of 187,345,500,000 Combined total value = 219,411,000,000

Strike 175750 has a total call value of 32,865,750,000 versus a total put value of 183,390,750,000 Combined total value = 216,256,500,000

Strike 176000 has a total call value of 33,666,000,000 versus a total put value of 179,436,000,000 Combined total value = 213,102,000,000

Strike 176250 has a total call value of 34,466,250,000 versus a total put value of 175,481,250,000 Combined total value = 209,947,500,000

Strike 176500 has a total call value of 35,266,500,000 versus a total put value of 171,526,500,000 Combined total value = 206,793,000,000

Strike 176750 has a total call value of 36,066,750,000 versus a total put value of 167,571,750,000 Combined total value = 203,638,500,000

Strike 177000 has a total call value of 36,867,000,000 versus a total put value of 163,617,000,000 Combined total value = 200,484,000,000

Strike 177250 has a total call value of 37,683,000,000 versus a total put value of 159,723,000,000 Combined total value = 197,406,000,000

Strike 177500 has a total call value of 38,499,000,000 versus a total put value of 155,829,000,000 Combined total value = 194,328,000,000

Strike 177750 has a total call value of 39,315,000,000 versus a total put value of 151,935,000,000 Combined total value = 191,250,000,000

Strike 178000 has a total call value of 40,131,000,000 versus a total put value of 148,041,000,000 Combined total value = 188,172,000,000

Strike 178250 has a total call value of 40,947,000,000 versus a total put value of 144,213,750,000 Combined total value = 185,160,750,000

Strike 178500 has a total call value of 41,763,000,000 versus a total put value of 140,386,500,000 Combined total value = 182,149,500,000

Strike 178750 has a total call value of 42,579,000,000 versus a total put value of 136,559,250,000 Combined total value = 179,138,250,000

Strike 179000 has a total call value of 43,395,000,000 versus a total put value of 132,732,000,000 Combined total value = 176,127,000,000

Strike 179250 has a total call value of 44,325,000,000 versus a total put value of 128,904,750,000 Combined total value = 173,229,750,000

Strike 179500 has a total call value of 45,255,000,000 versus a total put value of 125,077,500,000 Combined total value = 170,332,500,000

Strike 179750 has a total call value of 46,185,000,000 versus a total put value of 121,250,250,000 Combined total value = 167,435,250,000

Strike 180000 has a total call value of 47,115,000,000 versus a total put value of 117,423,000,000 Combined total value = 164,538,000,000

Strike 180250 has a total call value of 48,167,250,000 versus a total put value of 114,412,500,000 Combined total value = 162,579,750,000

Strike 180500 has a total call value of 49,219,500,000 versus a total put value of 111,402,000,000 Combined total value = 160,621,500,000

Strike 180750 has a total call value of 50,271,750,000 versus a total put value of 108,391,500,000 Combined total value = 158,663,250,000

Strike 181000 has a total call value of 51,324,000,000 versus a total put value of 105,381,000,000 Combined total value = 156,705,000,000

Strike 181250 has a total call value of 52,402,500,000 versus a total put value of 102,438,000,000 Combined total value = 154,840,500,000

Strike 181500 has a total call value of 53,481,000,000 versus a total put value of 99,495,000,000 Combined total value = 152,976,000,000

Strike 181750 has a total call value of 54,559,500,000 versus a total put value of 96,552,000,000 Combined total value = 151,111,500,000

Strike 182000 has a total call value of 55,638,000,000 versus a total put value of 93,609,000,000 Combined total value = 149,247,000,000

Strike 182250 has a total call value of 56,716,500,000 versus a total put value of 90,753,750,000 Combined total value = 147,470,250,000

Strike 182500 has a total call value of 57,795,000,000 versus a total put value of 87,898,500,000 Combined total value = 145,693,500,000

Strike 182750 has a total call value of 58,873,500,000 versus a total put value of 85,043,250,000 Combined total value = 143,916,750,000

Strike 183000 has a total call value of 59,952,000,000 versus a total put value of 82,188,000,000 Combined total value = 142,140,000,000

Strike 183250 has a total call value of 61,127,250,000 versus a total put value of 79,423,500,000 Combined total value = 140,550,750,000

Strike 183500 has a total call value of 62,302,500,000 versus a total put value of 76,659,000,000 Combined total value = 138,961,500,000

Strike 183750 has a total call value of 63,477,750,000 versus a total put value of 73,894,500,000 Combined total value = 137,372,250,000

Strike 184000 has a total call value of 64,653,000,000 versus a total put value of 71,130,000,000 Combined total value = 135,783,000,000

Strike 184250 has a total call value of 65,828,250,000 versus a total put value of 68,436,000,000 Combined total value = 134,264,250,000

Strike 184500 has a total call value of 67,003,500,000 versus a total put value of 65,742,000,000 Combined total value = 132,745,500,000

Strike 184750 has a total call value of 68,178,750,000 versus a total put value of 63,048,000,000 Combined total value = 131,226,750,000

Strike 185000 has a total call value of 69,354,000,000 versus a total put value of 60,354,000,000 Combined total value = 129,708,000,000

Strike 185250 has a total call value of 70,692,750,000 versus a total put value of 58,284,000,000 Combined total value = 128,976,750,000

Strike 185500 has a total call value of 72,031,500,000 versus a total put value of 56,215,500,000 Combined total value = 128,247,000,000

Strike 185750 has a total call value of 73,370,250,000 versus a total put value of 54,147,000,000 Combined total value = 127,517,250,000

Strike 186000 has a total call value of 74,709,000,000 versus a total put value of 52,079,250,000 Combined total value = 126,788,250,000

Strike 186250 has a total call value of 76,047,750,000 versus a total put value of 50,060,250,000 Combined total value = 126,108,000,000

Strike 186500 has a total call value of 77,386,500,000 versus a total put value of 48,041,250,000 Combined total value = 125,427,750,000

Strike 186750 has a total call value of 78,725,250,000 versus a total put value of 46,023,750,000 Combined total value = 124,749,000,000

Strike 187000 has a total call value of 80,064,000,000 versus a total put value of 44,010,000,000 Combined total value = 124,074,000,000

Strike 187250 has a total call value of 81,402,750,000 versus a total put value of 42,034,500,000 Combined total value = 123,437,250,000

Strike 187500 has a total call value of 82,741,500,000 versus a total put value of 40,059,000,000 Combined total value = 122,800,500,000

Strike 187750 has a total call value of 84,080,250,000 versus a total put value of 38,083,500,000 Combined total value = 122,163,750,000

Strike 188000 has a total call value of 85,419,000,000 versus a total put value of 36,108,000,000 Combined total value = 121,527,000,000

Strike 188250 has a total call value of 86,779,500,000 versus a total put value of 34,239,750,000 Combined total value = 121,019,250,000

Strike 188500 has a total call value of 88,140,000,000 versus a total put value of 32,371,500,000 Combined total value = 120,511,500,000

Strike 188750 has a total call value of 89,500,500,000 versus a total put value of 30,503,250,000 Combined total value = 120,003,750,000

Strike 189000 has a total call value of 90,861,000,000 versus a total put value of 28,635,000,000 Combined total value = 119,496,000,000

Strike 189250 has a total call value of 92,221,500,000 versus a total put value of 26,849,250,000 Combined total value = 119,070,750,000

Strike 189500 has a total call value of 93,582,000,000 versus a total put value of 25,063,500,000 Combined total value = 118,645,500,000

Strike 189750 has a total call value of 94,942,500,000 versus a total put value of 23,277,750,000 Combined total value = 118,220,250,000

Strike 190000 has a total call value of 96,303,000,000 versus a total put value of 21,492,000,000 Combined total value = 117,795,000,000

Strike 190250 has a total call value of 98,010,000,000 versus a total put value of 20,421,750,000 Combined total value = 118,431,750,000

Strike 190500 has a total call value of 99,717,000,000 versus a total put value of 19,351,500,000 Combined total value = 119,068,500,000

Strike 190750 has a total call value of 101,424,000,000 versus a total put value of 18,281,250,000 Combined total value = 119,705,250,000

Strike 191000 has a total call value of 103,131,000,000 versus a total put value of 17,211,000,000 Combined total value = 120,342,000,000

Strike 191250 has a total call value of 104,871,000,000 versus a total put value of 16,201,500,000 Combined total value = 121,072,500,000

Strike 191500 has a total call value of 106,611,000,000 versus a total put value of 15,192,000,000 Combined total value = 121,803,000,000

Strike 191750 has a total call value of 108,351,000,000 versus a total put value of 14,182,500,000 Combined total value = 122,533,500,000

Strike 192000 has a total call value of 110,091,000,000 versus a total put value of 13,173,000,000 Combined total value = 123,264,000,000

Strike 192250 has a total call value of 111,975,000,000 versus a total put value of 12,254,250,000 Combined total value = 124,229,250,000

Strike 192500 has a total call value of 113,859,000,000 versus a total put value of 11,335,500,000 Combined total value = 125,194,500,000

Strike 192750 has a total call value of 115,743,000,000 versus a total put value of 10,416,750,000 Combined total value = 126,159,750,000

Strike 193000 has a total call value of 117,627,000,000 versus a total put value of 9,498,000,000 Combined total value = 127,125,000,000

Strike 193250 has a total call value of 119,590,500,000 versus a total put value of 8,635,500,000 Combined total value = 128,226,000,000

Strike 193500 has a total call value of 121,554,000,000 versus a total put value of 7,773,000,000 Combined total value = 129,327,000,000

Strike 193750 has a total call value of 123,517,500,000 versus a total put value of 6,910,500,000 Combined total value = 130,428,000,000

Strike 194000 has a total call value of 125,481,000,000 versus a total put value of 6,048,000,000 Combined total value = 131,529,000,000

Strike 194250 has a total call value of 127,495,500,000 versus a total put value of 5,293,500,000 Combined total value = 132,789,000,000

Strike 194500 has a total call value of 129,510,000,000 versus a total put value of 4,539,000,000 Combined total value = 134,049,000,000

Strike 194750 has a total call value of 131,524,500,000 versus a total put value of 3,784,500,000 Combined total value = 135,309,000,000

Strike 195000 has a total call value of 133,539,000,000 versus a total put value of 3,030,000,000 Combined total value = 136,569,000,000

Strike 195250 has a total call value of 135,863,250,000 versus a total put value of 2,691,000,000 Combined total value = 138,554,250,000

Strike 195500 has a total call value of 138,187,500,000 versus a total put value of 2,352,000,000 Combined total value = 140,539,500,000

Strike 195750 has a total call value of 140,511,750,000 versus a total put value of 2,013,000,000 Combined total value = 142,524,750,000

Strike 196000 has a total call value of 142,836,000,000 versus a total put value of 1,674,000,000 Combined total value = 144,510,000,000

Strike 196250 has a total call value of 145,203,000,000 versus a total put value of 1,407,750,000 Combined total value = 146,610,750,000

Strike 196500 has a total call value of 147,570,000,000 versus a total put value of 1,141,500,000 Combined total value = 148,711,500,000

Strike 196750 has a total call value of 149,937,000,000 versus a total put value of 875,250,000 Combined total value = 150,812,250,000

Strike 197000 has a total call value of 152,304,000,000 versus a total put value of 609,000,000 Combined total value = 152,913,000,000

Strike 197250 has a total call value of 154,721,250,000 versus a total put value of 456,750,000 Combined total value = 155,178,000,000

Strike 197500 has a total call value of 157,138,500,000 versus a total put value of 304,500,000 Combined total value = 157,443,000,000

Strike 197750 has a total call value of 159,555,750,000 versus a total put value of 152,250,000 Combined total value = 159,708,000,000

Strike 198000 has a total call value of 161,973,000,000 versus a total put value of 0 Combined total value = 161,973,000,000

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	1140
ABB	5182.5	5200
ABCAPITAL	347.8	350
ADANIENSOL	982.85	990
ADANIENT	2227.5	2300
ADANIGREEN	1021.5	1020
ADANIPORTS	1484.7	1500
ALKEM	5596	5700
AMBER	6589.5	6800
AMBUJACEM	541.35	555
ANGELONE	2494.5	2600
APLAPOLLO	1763.8	1760
APOLLOHOSP	6926.5	7150
ASHOKLEY	165.23	160
ASIANPAINT	2777	2800
ASTRAL	1437.1	1460
AUBANK	988.95	960
AUROPHARMA	1190.5	1200
AXISBANK	1229.6	1240
BAJAJ-AUTO	8924	9000
BAJAJFINSV	2012.5	2060
BAJFINANCE	995.5	1020
BANDHANBNK	147.99	150
BANKBARODA	287.35	290
BANKINDIA	142.33	143
BDL	1330.2	1400
BEL	385.95	400
BHARATFORG	1413.1	1400
BHARTIARTL	2102.8	2100
BHEL	276.55	280
BIOCON	386.9	390
BLUESTARCO	1821.3	1780
BOSCHLTD	35910	36500
BPCL	368.05	365
BRITANNIA	6109.5	6000
BSE	2634.6	2700
CAMS	736.7	780
CANBK	150.13	150
CDSL	1479.6	1560
CGPOWER	672.15	680
CHOLAFIN	1668.9	1700
CIPLA	1495	1520
COALINDIA	383.05	384.75
COFORGE	1853	1840
COLPAL	2103.7	2180
CONCOR	497.85	520
CROMPTON	249.8	265
CUMMINSIND	4507.6	4500
CYIENT	1139.7	1160
DABUR	494.25	500
DALBHARAT	2073.2	2040
DELHIVERY	398.05	410
DIVISLAB	6301.5	6400
DIXON	13300	13750
DLF	681.65	710
DMART	3820	3900
DRREDDY	1268.9	1270
EICHERMOT	7150.5	7150
ETERNAL	285.05	295
EXIDEIND	364	375
FEDERALBNK	263.35	260
FORTIS	867.95	890
GAIL	168.51	175
GLENMARK	1945.8	1940
GMRAIRPORT	101.15	102
GODREJCP	1175.6	1160
GODREJPROP	2013.2	2080
GRASIM	2792.2	2800
HAL	4236.5	4450
HAVELLS	1395	1440
HCLTECH	1655.1	1660
HDFCAMC	2545	2600
HDFCBANK	981.4	995
HDFCLIFE	750.7	770
HEROMOTOCO	5812	6000
HFCL	64.62	68
HINDALCO	846.05	820
HINDPETRO	465.9	460
HINDUNILVR	2273.1	2300
HINDZINC	574.7	550
HUDCO	208.1	220
ICICIBANK	1348.8	1370
ICICIGI	1936.7	1980
ICICIPRULI	628.8	630
IDEA	11.13	11
IDFCFIRSTB	83.45	82
IEX	140.66	145
IIFL	564.5	560
INDHOTEL	712.55	730
INDIANB	773.6	820
INDIGO	4972	5000
INDUSINDBK	833.05	850
INDUSTOWER	405.9	410
INFY	1602.4	1600
INOXWIND	126.08	130
IOC	167.77	166
IRCTC	667	690
IREDA	131.87	140
IRFC	111.29	116
ITC	400.65	405
JINDALSTEL	1000.9	1020
JIOFIN	292.75	305
JSWENERGY	475.45	490
JSWSTEEL	1079.7	1120
JUBLFOOD	551	580
KALYANKJIL	472.5	480
KAYNES	4166	4400
KEI	4091.8	4100
KFINTECH	1030.2	1060
KOTAKBANK	2164.9	2160
KPITTECH	1171.8	1200
LAURUSLABS	1009.9	1000
LICHSGFIN	525.65	550
LICI	845.3	870
LODHA	1063.4	1100
LT	4055.8	4040
LTF	301	302.5
LTIM	6246.5	6150
LUPIN	2109.4	2080
M&M	3601.9	3650
MANAPPURAM	285.2	280
MANKIND	2098.7	2200
MARICO	738.05	740
MARUTI	16399	16300
MAXHEALTH	1029.2	1080
MAZDOCK	2360.9	2500
MCX	10064	10100
MFSL	1654.7	1680
MOTHERSON	119.64	116
MPHASIS	2865.5	2900
MUTHOOTFIN	3760	3750
NATIONALUM	279.05	270
NAUKRI	1341.4	1360
NBCC	109.85	112
NCC	155.92	165
NESTLEIND	1228.7	1240
NHPC	75.48	78
NMDC	77.24	77
NTPC	320.9	325
NUVAMA	7184	7200
NYKAA	244.25	255
OBEROIRLTY	1614	1640
OFSS	7743	8000
OIL	398.5	410
ONGC	232.66	237.5
PAGEIND	36295	37000
PATANJALI	534.1	540
PAYTM	1267.1	1300
PERSISTENT	6282.5	6300
PETRONET	268.2	278
PFC	335.25	355
PGEL	558	560
PHOENIXLTD	1779	1740
PIDILITIND	1451	1480
PIIND	3202.2	3300
PNB	118.98	120
PNBHOUSING	896.3	910
POLICYBZR	1779.7	1840
POLYCAB	7104	7200
POWERGRID	261.6	270
POWERINDIA	19165	19500
PPLPHARMA	168.84	180
PRESTIGE	1605.7	1660
RBLBANK	295.85	305
RECLTD	333.9	350
RELIANCE	1545	1540
RVNL	307.35	315
SAIL	129.66	132
SAMMAANCAP	148.82	155
SBICARD	830.7	870
SBILIFE	1998.9	2020
SBIN	976.05	970
SHREECEM	25960	26500
SHRIRAMFIN	862	850
SIEMENS	3150	3200
SOLARINDS	11835	12500
SONACOMS	491.85	500
SRF	3016.6	2950
SUNPHARMA	1791.9	1800
SUPREMEIND	3347.8	3400
SUZLON	51.97	54
SYNGENE	646.8	650
TATACONSUM	1182	1170
TATAELXSI	4971	5000
TATAMOTORS	0	320
TATAPOWER	378.45	390
TATASTEEL	169.93	170
TATATECH	641.7	670
TCS	3215.3	3200
TECHM	1576	1560
TIINDIA	2605.5	2700
TITAGARH	775.5	800
TITAN	3895.1	3880
TMPV	347.65	360
TORNTPHARM	3738.7	3750
TORNTPOWER	1282.8	1300
TRENT	4052.9	4200
TVSMOTOR	3639.8	3600
ULTRACEMCO	11558	11700
UNIONBANK	153.11	155
UNITDSPR	1431.1	1440
UNOMINDA	1243.2	1280
UPL	745.45	750
VBL	470.65	470
VEDL	569.1	550
VOLTAS	1380	1380
WIPRO	261.05	255
YESBANK	21.49	22
ZYDUSLIFE	917.8	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.

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