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.

SILVERM

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 Mini

205050 +6650.00 (3.35%)

L: 199999 H: 206336

Max Pain - SILVERM

17 Dec 2025 10:07 AM IST

Live

Expiry

Max Pain for SILVERM is 191000

Historical data for SILVERM-191000-CE

LTP (191000 CE)

15080.5 5236

Open Interest

150 -8

Historical data for SILVERM-191000-PE

LTP (191000 PE)

1107.5 -1215.5

Open Interest

426 1

Strike 120000 has a total call value of 0 versus a total put value of 1,249,190,250,000 Combined total value = 1,249,190,250,000

Strike 120250 has a total call value of 0 versus a total put value of 1,243,401,375,000 Combined total value = 1,243,401,375,000

Strike 120500 has a total call value of 0 versus a total put value of 1,237,612,500,000 Combined total value = 1,237,612,500,000

Strike 120750 has a total call value of 0 versus a total put value of 1,231,823,625,000 Combined total value = 1,231,823,625,000

Strike 121000 has a total call value of 0 versus a total put value of 1,226,034,750,000 Combined total value = 1,226,034,750,000

Strike 121250 has a total call value of 0 versus a total put value of 1,220,245,875,000 Combined total value = 1,220,245,875,000

Strike 121500 has a total call value of 0 versus a total put value of 1,214,457,000,000 Combined total value = 1,214,457,000,000

Strike 121750 has a total call value of 0 versus a total put value of 1,208,668,125,000 Combined total value = 1,208,668,125,000

Strike 122000 has a total call value of 0 versus a total put value of 1,202,879,250,000 Combined total value = 1,202,879,250,000

Strike 122250 has a total call value of 0 versus a total put value of 1,197,090,375,000 Combined total value = 1,197,090,375,000

Strike 122500 has a total call value of 0 versus a total put value of 1,191,301,500,000 Combined total value = 1,191,301,500,000

Strike 122750 has a total call value of 0 versus a total put value of 1,185,512,625,000 Combined total value = 1,185,512,625,000

Strike 123000 has a total call value of 0 versus a total put value of 1,179,723,750,000 Combined total value = 1,179,723,750,000

Strike 123250 has a total call value of 0 versus a total put value of 1,173,934,875,000 Combined total value = 1,173,934,875,000

Strike 123500 has a total call value of 0 versus a total put value of 1,168,146,000,000 Combined total value = 1,168,146,000,000

Strike 123750 has a total call value of 0 versus a total put value of 1,162,357,125,000 Combined total value = 1,162,357,125,000

Strike 124000 has a total call value of 0 versus a total put value of 1,156,568,250,000 Combined total value = 1,156,568,250,000

Strike 124250 has a total call value of 0 versus a total put value of 1,150,779,375,000 Combined total value = 1,150,779,375,000

Strike 124500 has a total call value of 0 versus a total put value of 1,144,990,500,000 Combined total value = 1,144,990,500,000

Strike 124750 has a total call value of 0 versus a total put value of 1,139,201,625,000 Combined total value = 1,139,201,625,000

Strike 125000 has a total call value of 0 versus a total put value of 1,133,412,750,000 Combined total value = 1,133,412,750,000

Strike 125250 has a total call value of 0 versus a total put value of 1,127,623,875,000 Combined total value = 1,127,623,875,000

Strike 125500 has a total call value of 0 versus a total put value of 1,121,835,000,000 Combined total value = 1,121,835,000,000

Strike 125750 has a total call value of 0 versus a total put value of 1,116,046,125,000 Combined total value = 1,116,046,125,000

Strike 126000 has a total call value of 0 versus a total put value of 1,110,257,250,000 Combined total value = 1,110,257,250,000

Strike 126250 has a total call value of 0 versus a total put value of 1,104,468,375,000 Combined total value = 1,104,468,375,000

Strike 126500 has a total call value of 0 versus a total put value of 1,098,679,500,000 Combined total value = 1,098,679,500,000

Strike 126750 has a total call value of 0 versus a total put value of 1,092,890,625,000 Combined total value = 1,092,890,625,000

Strike 127000 has a total call value of 0 versus a total put value of 1,087,101,750,000 Combined total value = 1,087,101,750,000

Strike 127250 has a total call value of 0 versus a total put value of 1,081,312,875,000 Combined total value = 1,081,312,875,000

Strike 127500 has a total call value of 0 versus a total put value of 1,075,524,000,000 Combined total value = 1,075,524,000,000

Strike 127750 has a total call value of 0 versus a total put value of 1,069,735,125,000 Combined total value = 1,069,735,125,000

Strike 128000 has a total call value of 0 versus a total put value of 1,063,946,250,000 Combined total value = 1,063,946,250,000

Strike 128250 has a total call value of 0 versus a total put value of 1,058,157,375,000 Combined total value = 1,058,157,375,000

Strike 128500 has a total call value of 0 versus a total put value of 1,052,368,500,000 Combined total value = 1,052,368,500,000

Strike 128750 has a total call value of 0 versus a total put value of 1,046,579,625,000 Combined total value = 1,046,579,625,000

Strike 129000 has a total call value of 0 versus a total put value of 1,040,790,750,000 Combined total value = 1,040,790,750,000

Strike 129250 has a total call value of 0 versus a total put value of 1,035,001,875,000 Combined total value = 1,035,001,875,000

Strike 129500 has a total call value of 0 versus a total put value of 1,029,213,000,000 Combined total value = 1,029,213,000,000

Strike 129750 has a total call value of 0 versus a total put value of 1,023,424,125,000 Combined total value = 1,023,424,125,000

Strike 130000 has a total call value of 0 versus a total put value of 1,017,635,250,000 Combined total value = 1,017,635,250,000

Strike 130250 has a total call value of 0 versus a total put value of 1,011,884,250,000 Combined total value = 1,011,884,250,000

Strike 130500 has a total call value of 0 versus a total put value of 1,006,133,250,000 Combined total value = 1,006,133,250,000

Strike 130750 has a total call value of 0 versus a total put value of 1,000,382,250,000 Combined total value = 1,000,382,250,000

Strike 131000 has a total call value of 0 versus a total put value of 994,631,250,000 Combined total value = 994,631,250,000

Strike 131250 has a total call value of 0 versus a total put value of 988,880,250,000 Combined total value = 988,880,250,000

Strike 131500 has a total call value of 0 versus a total put value of 983,129,250,000 Combined total value = 983,129,250,000

Strike 131750 has a total call value of 0 versus a total put value of 977,378,250,000 Combined total value = 977,378,250,000

Strike 132000 has a total call value of 0 versus a total put value of 971,627,250,000 Combined total value = 971,627,250,000

Strike 132250 has a total call value of 0 versus a total put value of 965,876,250,000 Combined total value = 965,876,250,000

Strike 132500 has a total call value of 0 versus a total put value of 960,125,250,000 Combined total value = 960,125,250,000

Strike 132750 has a total call value of 0 versus a total put value of 954,374,250,000 Combined total value = 954,374,250,000

Strike 133000 has a total call value of 0 versus a total put value of 948,623,250,000 Combined total value = 948,623,250,000

Strike 133250 has a total call value of 0 versus a total put value of 942,872,250,000 Combined total value = 942,872,250,000

Strike 133500 has a total call value of 0 versus a total put value of 937,121,250,000 Combined total value = 937,121,250,000

Strike 133750 has a total call value of 0 versus a total put value of 931,370,250,000 Combined total value = 931,370,250,000

Strike 134000 has a total call value of 0 versus a total put value of 925,619,250,000 Combined total value = 925,619,250,000

Strike 134250 has a total call value of 0 versus a total put value of 919,868,250,000 Combined total value = 919,868,250,000

Strike 134500 has a total call value of 0 versus a total put value of 914,117,250,000 Combined total value = 914,117,250,000

Strike 134750 has a total call value of 0 versus a total put value of 908,366,250,000 Combined total value = 908,366,250,000

Strike 135000 has a total call value of 0 versus a total put value of 902,615,250,000 Combined total value = 902,615,250,000

Strike 135250 has a total call value of 0 versus a total put value of 896,916,625,000 Combined total value = 896,916,625,000

Strike 135500 has a total call value of 0 versus a total put value of 891,218,000,000 Combined total value = 891,218,000,000

Strike 135750 has a total call value of 0 versus a total put value of 885,519,375,000 Combined total value = 885,519,375,000

Strike 136000 has a total call value of 0 versus a total put value of 879,820,750,000 Combined total value = 879,820,750,000

Strike 136250 has a total call value of 0 versus a total put value of 874,122,125,000 Combined total value = 874,122,125,000

Strike 136500 has a total call value of 0 versus a total put value of 868,423,500,000 Combined total value = 868,423,500,000

Strike 136750 has a total call value of 0 versus a total put value of 862,724,875,000 Combined total value = 862,724,875,000

Strike 137000 has a total call value of 0 versus a total put value of 857,026,250,000 Combined total value = 857,026,250,000

Strike 137250 has a total call value of 0 versus a total put value of 851,327,625,000 Combined total value = 851,327,625,000

Strike 137500 has a total call value of 0 versus a total put value of 845,629,000,000 Combined total value = 845,629,000,000

Strike 137750 has a total call value of 0 versus a total put value of 839,930,375,000 Combined total value = 839,930,375,000

Strike 138000 has a total call value of 0 versus a total put value of 834,231,750,000 Combined total value = 834,231,750,000

Strike 138250 has a total call value of 0 versus a total put value of 828,533,125,000 Combined total value = 828,533,125,000

Strike 138500 has a total call value of 0 versus a total put value of 822,834,500,000 Combined total value = 822,834,500,000

Strike 138750 has a total call value of 0 versus a total put value of 817,135,875,000 Combined total value = 817,135,875,000

Strike 139000 has a total call value of 0 versus a total put value of 811,437,250,000 Combined total value = 811,437,250,000

Strike 139250 has a total call value of 0 versus a total put value of 805,738,625,000 Combined total value = 805,738,625,000

Strike 139500 has a total call value of 0 versus a total put value of 800,040,000,000 Combined total value = 800,040,000,000

Strike 139750 has a total call value of 0 versus a total put value of 794,341,375,000 Combined total value = 794,341,375,000

Strike 140000 has a total call value of 0 versus a total put value of 788,642,750,000 Combined total value = 788,642,750,000

Strike 140250 has a total call value of 0 versus a total put value of 783,033,125,000 Combined total value = 783,033,125,000

Strike 140500 has a total call value of 0 versus a total put value of 777,423,500,000 Combined total value = 777,423,500,000

Strike 140750 has a total call value of 0 versus a total put value of 771,813,875,000 Combined total value = 771,813,875,000

Strike 141000 has a total call value of 0 versus a total put value of 766,204,250,000 Combined total value = 766,204,250,000

Strike 141250 has a total call value of 0 versus a total put value of 760,594,625,000 Combined total value = 760,594,625,000

Strike 141500 has a total call value of 0 versus a total put value of 754,985,000,000 Combined total value = 754,985,000,000

Strike 141750 has a total call value of 0 versus a total put value of 749,375,375,000 Combined total value = 749,375,375,000

Strike 142000 has a total call value of 0 versus a total put value of 743,765,750,000 Combined total value = 743,765,750,000

Strike 142250 has a total call value of 0 versus a total put value of 738,156,125,000 Combined total value = 738,156,125,000

Strike 142500 has a total call value of 0 versus a total put value of 732,546,500,000 Combined total value = 732,546,500,000

Strike 142750 has a total call value of 0 versus a total put value of 726,936,875,000 Combined total value = 726,936,875,000

Strike 143000 has a total call value of 0 versus a total put value of 721,327,250,000 Combined total value = 721,327,250,000

Strike 143250 has a total call value of 0 versus a total put value of 715,717,625,000 Combined total value = 715,717,625,000

Strike 143500 has a total call value of 0 versus a total put value of 710,108,000,000 Combined total value = 710,108,000,000

Strike 143750 has a total call value of 0 versus a total put value of 704,498,375,000 Combined total value = 704,498,375,000

Strike 144000 has a total call value of 0 versus a total put value of 698,888,750,000 Combined total value = 698,888,750,000

Strike 144250 has a total call value of 0 versus a total put value of 693,279,125,000 Combined total value = 693,279,125,000

Strike 144500 has a total call value of 0 versus a total put value of 687,669,500,000 Combined total value = 687,669,500,000

Strike 144750 has a total call value of 0 versus a total put value of 682,059,875,000 Combined total value = 682,059,875,000

Strike 145000 has a total call value of 0 versus a total put value of 676,450,250,000 Combined total value = 676,450,250,000

Strike 145250 has a total call value of 0 versus a total put value of 670,924,125,000 Combined total value = 670,924,125,000

Strike 145500 has a total call value of 0 versus a total put value of 665,398,000,000 Combined total value = 665,398,000,000

Strike 145750 has a total call value of 0 versus a total put value of 659,871,875,000 Combined total value = 659,871,875,000

Strike 146000 has a total call value of 0 versus a total put value of 654,345,750,000 Combined total value = 654,345,750,000

Strike 146250 has a total call value of 0 versus a total put value of 648,819,625,000 Combined total value = 648,819,625,000

Strike 146500 has a total call value of 0 versus a total put value of 643,293,500,000 Combined total value = 643,293,500,000

Strike 146750 has a total call value of 0 versus a total put value of 637,767,375,000 Combined total value = 637,767,375,000

Strike 147000 has a total call value of 0 versus a total put value of 632,241,250,000 Combined total value = 632,241,250,000

Strike 147250 has a total call value of 0 versus a total put value of 626,715,125,000 Combined total value = 626,715,125,000

Strike 147500 has a total call value of 0 versus a total put value of 621,189,000,000 Combined total value = 621,189,000,000

Strike 147750 has a total call value of 0 versus a total put value of 615,662,875,000 Combined total value = 615,662,875,000

Strike 148000 has a total call value of 0 versus a total put value of 610,136,750,000 Combined total value = 610,136,750,000

Strike 148250 has a total call value of 0 versus a total put value of 604,610,625,000 Combined total value = 604,610,625,000

Strike 148500 has a total call value of 0 versus a total put value of 599,084,500,000 Combined total value = 599,084,500,000

Strike 148750 has a total call value of 0 versus a total put value of 593,558,375,000 Combined total value = 593,558,375,000

Strike 149000 has a total call value of 0 versus a total put value of 588,032,250,000 Combined total value = 588,032,250,000

Strike 149250 has a total call value of 0 versus a total put value of 582,506,125,000 Combined total value = 582,506,125,000

Strike 149500 has a total call value of 0 versus a total put value of 576,980,000,000 Combined total value = 576,980,000,000

Strike 149750 has a total call value of 0 versus a total put value of 571,453,875,000 Combined total value = 571,453,875,000

Strike 150000 has a total call value of 0 versus a total put value of 565,927,750,000 Combined total value = 565,927,750,000

Strike 150250 has a total call value of 24,875,000 versus a total put value of 560,701,375,000 Combined total value = 560,726,250,000

Strike 150500 has a total call value of 49,750,000 versus a total put value of 555,475,000,000 Combined total value = 555,524,750,000

Strike 150750 has a total call value of 74,625,000 versus a total put value of 550,248,625,000 Combined total value = 550,323,250,000

Strike 151000 has a total call value of 99,500,000 versus a total put value of 545,022,250,000 Combined total value = 545,121,750,000

Strike 151250 has a total call value of 124,375,000 versus a total put value of 539,795,875,000 Combined total value = 539,920,250,000

Strike 151500 has a total call value of 149,250,000 versus a total put value of 534,569,500,000 Combined total value = 534,718,750,000

Strike 151750 has a total call value of 174,125,000 versus a total put value of 529,343,125,000 Combined total value = 529,517,250,000

Strike 152000 has a total call value of 199,000,000 versus a total put value of 524,116,750,000 Combined total value = 524,315,750,000

Strike 152250 has a total call value of 223,875,000 versus a total put value of 518,918,750,000 Combined total value = 519,142,625,000

Strike 152500 has a total call value of 248,750,000 versus a total put value of 513,720,750,000 Combined total value = 513,969,500,000

Strike 152750 has a total call value of 273,625,000 versus a total put value of 508,522,750,000 Combined total value = 508,796,375,000

Strike 153000 has a total call value of 298,500,000 versus a total put value of 503,324,750,000 Combined total value = 503,623,250,000

Strike 153250 has a total call value of 323,375,000 versus a total put value of 498,169,500,000 Combined total value = 498,492,875,000

Strike 153500 has a total call value of 348,250,000 versus a total put value of 493,014,250,000 Combined total value = 493,362,500,000

Strike 153750 has a total call value of 373,125,000 versus a total put value of 487,859,000,000 Combined total value = 488,232,125,000

Strike 154000 has a total call value of 398,000,000 versus a total put value of 482,703,750,000 Combined total value = 483,101,750,000

Strike 154250 has a total call value of 422,875,000 versus a total put value of 477,548,500,000 Combined total value = 477,971,375,000

Strike 154500 has a total call value of 447,750,000 versus a total put value of 472,393,250,000 Combined total value = 472,841,000,000

Strike 154750 has a total call value of 472,625,000 versus a total put value of 467,238,000,000 Combined total value = 467,710,625,000

Strike 155000 has a total call value of 497,500,000 versus a total put value of 462,082,750,000 Combined total value = 462,580,250,000

Strike 155250 has a total call value of 522,375,000 versus a total put value of 457,234,500,000 Combined total value = 457,756,875,000

Strike 155500 has a total call value of 547,250,000 versus a total put value of 452,386,250,000 Combined total value = 452,933,500,000

Strike 155750 has a total call value of 572,125,000 versus a total put value of 447,538,000,000 Combined total value = 448,110,125,000

Strike 156000 has a total call value of 597,000,000 versus a total put value of 442,689,750,000 Combined total value = 443,286,750,000

Strike 156250 has a total call value of 621,875,000 versus a total put value of 437,841,500,000 Combined total value = 438,463,375,000

Strike 156500 has a total call value of 646,750,000 versus a total put value of 432,993,250,000 Combined total value = 433,640,000,000

Strike 156750 has a total call value of 671,625,000 versus a total put value of 428,145,000,000 Combined total value = 428,816,625,000

Strike 157000 has a total call value of 696,500,000 versus a total put value of 423,296,750,000 Combined total value = 423,993,250,000

Strike 157250 has a total call value of 721,375,000 versus a total put value of 418,448,500,000 Combined total value = 419,169,875,000

Strike 157500 has a total call value of 746,250,000 versus a total put value of 413,600,250,000 Combined total value = 414,346,500,000

Strike 157750 has a total call value of 771,125,000 versus a total put value of 408,752,000,000 Combined total value = 409,523,125,000

Strike 158000 has a total call value of 796,000,000 versus a total put value of 403,903,750,000 Combined total value = 404,699,750,000

Strike 158250 has a total call value of 832,000,000 versus a total put value of 399,100,750,000 Combined total value = 399,932,750,000

Strike 158500 has a total call value of 868,000,000 versus a total put value of 394,297,750,000 Combined total value = 395,165,750,000

Strike 158750 has a total call value of 904,000,000 versus a total put value of 389,494,750,000 Combined total value = 390,398,750,000

Strike 159000 has a total call value of 940,000,000 versus a total put value of 384,691,750,000 Combined total value = 385,631,750,000

Strike 159250 has a total call value of 976,000,000 versus a total put value of 379,888,750,000 Combined total value = 380,864,750,000

Strike 159500 has a total call value of 1,012,000,000 versus a total put value of 375,085,750,000 Combined total value = 376,097,750,000

Strike 159750 has a total call value of 1,048,000,000 versus a total put value of 370,282,750,000 Combined total value = 371,330,750,000

Strike 160000 has a total call value of 1,084,000,000 versus a total put value of 365,479,750,000 Combined total value = 366,563,750,000

Strike 160250 has a total call value of 1,169,000,000 versus a total put value of 361,132,375,000 Combined total value = 362,301,375,000

Strike 160500 has a total call value of 1,254,000,000 versus a total put value of 356,785,000,000 Combined total value = 358,039,000,000

Strike 160750 has a total call value of 1,339,000,000 versus a total put value of 352,437,625,000 Combined total value = 353,776,625,000

Strike 161000 has a total call value of 1,424,000,000 versus a total put value of 348,090,250,000 Combined total value = 349,514,250,000

Strike 161250 has a total call value of 1,514,375,000 versus a total put value of 343,787,875,000 Combined total value = 345,302,250,000

Strike 161500 has a total call value of 1,604,750,000 versus a total put value of 339,485,500,000 Combined total value = 341,090,250,000

Strike 161750 has a total call value of 1,695,125,000 versus a total put value of 335,183,125,000 Combined total value = 336,878,250,000

Strike 162000 has a total call value of 1,785,500,000 versus a total put value of 330,880,750,000 Combined total value = 332,666,250,000

Strike 162250 has a total call value of 1,875,875,000 versus a total put value of 326,644,750,000 Combined total value = 328,520,625,000

Strike 162500 has a total call value of 1,966,250,000 versus a total put value of 322,408,750,000 Combined total value = 324,375,000,000

Strike 162750 has a total call value of 2,056,625,000 versus a total put value of 318,172,750,000 Combined total value = 320,229,375,000

Strike 163000 has a total call value of 2,147,000,000 versus a total put value of 313,936,750,000 Combined total value = 316,083,750,000

Strike 163250 has a total call value of 2,237,375,000 versus a total put value of 309,700,750,000 Combined total value = 311,938,125,000

Strike 163500 has a total call value of 2,327,750,000 versus a total put value of 305,464,750,000 Combined total value = 307,792,500,000

Strike 163750 has a total call value of 2,418,125,000 versus a total put value of 301,228,750,000 Combined total value = 303,646,875,000

Strike 164000 has a total call value of 2,508,500,000 versus a total put value of 296,992,750,000 Combined total value = 299,501,250,000

Strike 164250 has a total call value of 2,598,875,000 versus a total put value of 292,756,750,000 Combined total value = 295,355,625,000

Strike 164500 has a total call value of 2,689,250,000 versus a total put value of 288,520,750,000 Combined total value = 291,210,000,000

Strike 164750 has a total call value of 2,779,625,000 versus a total put value of 284,284,750,000 Combined total value = 287,064,375,000

Strike 165000 has a total call value of 2,870,000,000 versus a total put value of 280,048,750,000 Combined total value = 282,918,750,000

Strike 165250 has a total call value of 3,034,125,000 versus a total put value of 276,217,625,000 Combined total value = 279,251,750,000

Strike 165500 has a total call value of 3,198,250,000 versus a total put value of 272,386,500,000 Combined total value = 275,584,750,000

Strike 165750 has a total call value of 3,362,375,000 versus a total put value of 268,555,375,000 Combined total value = 271,917,750,000

Strike 166000 has a total call value of 3,526,500,000 versus a total put value of 264,724,250,000 Combined total value = 268,250,750,000

Strike 166250 has a total call value of 3,690,625,000 versus a total put value of 260,932,750,000 Combined total value = 264,623,375,000

Strike 166500 has a total call value of 3,854,750,000 versus a total put value of 257,141,250,000 Combined total value = 260,996,000,000

Strike 166750 has a total call value of 4,018,875,000 versus a total put value of 253,349,750,000 Combined total value = 257,368,625,000

Strike 167000 has a total call value of 4,183,000,000 versus a total put value of 249,558,250,000 Combined total value = 253,741,250,000

Strike 167250 has a total call value of 4,347,125,000 versus a total put value of 245,815,875,000 Combined total value = 250,163,000,000

Strike 167500 has a total call value of 4,511,250,000 versus a total put value of 242,073,500,000 Combined total value = 246,584,750,000

Strike 167750 has a total call value of 4,675,375,000 versus a total put value of 238,331,125,000 Combined total value = 243,006,500,000

Strike 168000 has a total call value of 4,839,500,000 versus a total put value of 234,588,750,000 Combined total value = 239,428,250,000

Strike 168250 has a total call value of 5,025,750,000 versus a total put value of 230,945,250,000 Combined total value = 235,971,000,000

Strike 168500 has a total call value of 5,212,000,000 versus a total put value of 227,301,750,000 Combined total value = 232,513,750,000

Strike 168750 has a total call value of 5,398,250,000 versus a total put value of 223,658,250,000 Combined total value = 229,056,500,000

Strike 169000 has a total call value of 5,584,500,000 versus a total put value of 220,014,750,000 Combined total value = 225,599,250,000

Strike 169250 has a total call value of 5,770,750,000 versus a total put value of 216,396,875,000 Combined total value = 222,167,625,000

Strike 169500 has a total call value of 5,957,000,000 versus a total put value of 212,779,000,000 Combined total value = 218,736,000,000

Strike 169750 has a total call value of 6,143,250,000 versus a total put value of 209,161,125,000 Combined total value = 215,304,375,000

Strike 170000 has a total call value of 6,329,500,000 versus a total put value of 205,543,250,000 Combined total value = 211,872,750,000

Strike 170250 has a total call value of 6,598,875,000 versus a total put value of 202,343,875,000 Combined total value = 208,942,750,000

Strike 170500 has a total call value of 6,868,250,000 versus a total put value of 199,144,500,000 Combined total value = 206,012,750,000

Strike 170750 has a total call value of 7,137,625,000 versus a total put value of 195,945,125,000 Combined total value = 203,082,750,000

Strike 171000 has a total call value of 7,407,000,000 versus a total put value of 192,745,750,000 Combined total value = 200,152,750,000

Strike 171250 has a total call value of 7,676,375,000 versus a total put value of 189,570,375,000 Combined total value = 197,246,750,000

Strike 171500 has a total call value of 7,945,750,000 versus a total put value of 186,395,000,000 Combined total value = 194,340,750,000

Strike 171750 has a total call value of 8,215,125,000 versus a total put value of 183,219,625,000 Combined total value = 191,434,750,000

Strike 172000 has a total call value of 8,484,500,000 versus a total put value of 180,044,250,000 Combined total value = 188,528,750,000

Strike 172250 has a total call value of 8,753,875,000 versus a total put value of 176,896,875,000 Combined total value = 185,650,750,000

Strike 172500 has a total call value of 9,023,250,000 versus a total put value of 173,749,500,000 Combined total value = 182,772,750,000

Strike 172750 has a total call value of 9,292,625,000 versus a total put value of 170,602,125,000 Combined total value = 179,894,750,000

Strike 173000 has a total call value of 9,562,000,000 versus a total put value of 167,454,750,000 Combined total value = 177,016,750,000

Strike 173250 has a total call value of 9,831,375,000 versus a total put value of 164,331,125,000 Combined total value = 174,162,500,000

Strike 173500 has a total call value of 10,100,750,000 versus a total put value of 161,207,500,000 Combined total value = 171,308,250,000

Strike 173750 has a total call value of 10,370,125,000 versus a total put value of 158,083,875,000 Combined total value = 168,454,000,000

Strike 174000 has a total call value of 10,639,500,000 versus a total put value of 154,960,250,000 Combined total value = 165,599,750,000

Strike 174250 has a total call value of 10,908,875,000 versus a total put value of 151,867,875,000 Combined total value = 162,776,750,000

Strike 174500 has a total call value of 11,178,250,000 versus a total put value of 148,775,500,000 Combined total value = 159,953,750,000

Strike 174750 has a total call value of 11,447,625,000 versus a total put value of 145,683,125,000 Combined total value = 157,130,750,000

Strike 175000 has a total call value of 11,717,000,000 versus a total put value of 142,590,750,000 Combined total value = 154,307,750,000

Strike 175250 has a total call value of 12,094,875,000 versus a total put value of 139,884,000,000 Combined total value = 151,978,875,000

Strike 175500 has a total call value of 12,472,750,000 versus a total put value of 137,177,250,000 Combined total value = 149,650,000,000

Strike 175750 has a total call value of 12,850,625,000 versus a total put value of 134,470,500,000 Combined total value = 147,321,125,000

Strike 176000 has a total call value of 13,228,500,000 versus a total put value of 131,763,750,000 Combined total value = 144,992,250,000

Strike 176250 has a total call value of 13,606,375,000 versus a total put value of 129,082,250,000 Combined total value = 142,688,625,000

Strike 176500 has a total call value of 13,984,250,000 versus a total put value of 126,400,750,000 Combined total value = 140,385,000,000

Strike 176750 has a total call value of 14,362,125,000 versus a total put value of 123,719,250,000 Combined total value = 138,081,375,000

Strike 177000 has a total call value of 14,740,000,000 versus a total put value of 121,037,750,000 Combined total value = 135,777,750,000

Strike 177250 has a total call value of 15,117,875,000 versus a total put value of 118,404,250,000 Combined total value = 133,522,125,000

Strike 177500 has a total call value of 15,495,750,000 versus a total put value of 115,770,750,000 Combined total value = 131,266,500,000

Strike 177750 has a total call value of 15,873,625,000 versus a total put value of 113,137,250,000 Combined total value = 129,010,875,000

Strike 178000 has a total call value of 16,251,500,000 versus a total put value of 110,503,750,000 Combined total value = 126,755,250,000

Strike 178250 has a total call value of 16,648,000,000 versus a total put value of 107,928,500,000 Combined total value = 124,576,500,000

Strike 178500 has a total call value of 17,044,500,000 versus a total put value of 105,353,250,000 Combined total value = 122,397,750,000

Strike 178750 has a total call value of 17,441,000,000 versus a total put value of 102,778,000,000 Combined total value = 120,219,000,000

Strike 179000 has a total call value of 17,837,500,000 versus a total put value of 100,202,750,000 Combined total value = 118,040,250,000

Strike 179250 has a total call value of 18,314,500,000 versus a total put value of 97,677,000,000 Combined total value = 115,991,500,000

Strike 179500 has a total call value of 18,791,500,000 versus a total put value of 95,151,250,000 Combined total value = 113,942,750,000

Strike 179750 has a total call value of 19,304,125,000 versus a total put value of 92,625,500,000 Combined total value = 111,929,625,000

Strike 180000 has a total call value of 19,816,750,000 versus a total put value of 90,099,750,000 Combined total value = 109,916,500,000

Strike 180250 has a total call value of 20,392,875,000 versus a total put value of 88,060,500,000 Combined total value = 108,453,375,000

Strike 180500 has a total call value of 20,969,000,000 versus a total put value of 86,021,250,000 Combined total value = 106,990,250,000

Strike 180750 has a total call value of 21,545,125,000 versus a total put value of 83,982,000,000 Combined total value = 105,527,125,000

Strike 181000 has a total call value of 22,121,250,000 versus a total put value of 81,942,750,000 Combined total value = 104,064,000,000

Strike 181250 has a total call value of 22,710,625,000 versus a total put value of 79,946,250,000 Combined total value = 102,656,875,000

Strike 181500 has a total call value of 23,300,000,000 versus a total put value of 77,949,750,000 Combined total value = 101,249,750,000

Strike 181750 has a total call value of 23,889,375,000 versus a total put value of 75,953,250,000 Combined total value = 99,842,625,000

Strike 182000 has a total call value of 24,478,750,000 versus a total put value of 73,956,750,000 Combined total value = 98,435,500,000

Strike 182250 has a total call value of 25,081,000,000 versus a total put value of 72,015,875,000 Combined total value = 97,096,875,000

Strike 182500 has a total call value of 25,683,250,000 versus a total put value of 70,075,000,000 Combined total value = 95,758,250,000

Strike 182750 has a total call value of 26,285,500,000 versus a total put value of 68,134,125,000 Combined total value = 94,419,625,000

Strike 183000 has a total call value of 26,887,750,000 versus a total put value of 66,193,250,000 Combined total value = 93,081,000,000

Strike 183250 has a total call value of 27,506,750,000 versus a total put value of 64,312,625,000 Combined total value = 91,819,375,000

Strike 183500 has a total call value of 28,125,750,000 versus a total put value of 62,432,000,000 Combined total value = 90,557,750,000

Strike 183750 has a total call value of 28,744,750,000 versus a total put value of 60,551,375,000 Combined total value = 89,296,125,000

Strike 184000 has a total call value of 29,363,750,000 versus a total put value of 58,670,750,000 Combined total value = 88,034,500,000

Strike 184250 has a total call value of 29,998,375,000 versus a total put value of 56,838,375,000 Combined total value = 86,836,750,000

Strike 184500 has a total call value of 30,633,000,000 versus a total put value of 55,006,000,000 Combined total value = 85,639,000,000

Strike 184750 has a total call value of 31,267,625,000 versus a total put value of 53,173,625,000 Combined total value = 84,441,250,000

Strike 185000 has a total call value of 31,902,250,000 versus a total put value of 51,341,250,000 Combined total value = 83,243,500,000

Strike 185250 has a total call value of 32,628,500,000 versus a total put value of 49,759,875,000 Combined total value = 82,388,375,000

Strike 185500 has a total call value of 33,354,750,000 versus a total put value of 48,178,500,000 Combined total value = 81,533,250,000

Strike 185750 has a total call value of 34,081,000,000 versus a total put value of 46,597,125,000 Combined total value = 80,678,125,000

Strike 186000 has a total call value of 34,807,250,000 versus a total put value of 45,015,750,000 Combined total value = 79,823,000,000

Strike 186250 has a total call value of 35,544,375,000 versus a total put value of 43,490,500,000 Combined total value = 79,034,875,000

Strike 186500 has a total call value of 36,281,500,000 versus a total put value of 41,965,250,000 Combined total value = 78,246,750,000

Strike 186750 has a total call value of 37,018,625,000 versus a total put value of 40,440,000,000 Combined total value = 77,458,625,000

Strike 187000 has a total call value of 37,755,750,000 versus a total put value of 38,914,750,000 Combined total value = 76,670,500,000

Strike 187250 has a total call value of 38,504,375,000 versus a total put value of 37,423,375,000 Combined total value = 75,927,750,000

Strike 187500 has a total call value of 39,253,000,000 versus a total put value of 35,932,000,000 Combined total value = 75,185,000,000

Strike 187750 has a total call value of 40,001,625,000 versus a total put value of 34,441,000,000 Combined total value = 74,442,625,000

Strike 188000 has a total call value of 40,750,250,000 versus a total put value of 32,950,000,000 Combined total value = 73,700,250,000

Strike 188250 has a total call value of 41,509,375,000 versus a total put value of 31,519,375,000 Combined total value = 73,028,750,000

Strike 188500 has a total call value of 42,268,500,000 versus a total put value of 30,088,750,000 Combined total value = 72,357,250,000

Strike 188750 has a total call value of 43,027,625,000 versus a total put value of 28,658,125,000 Combined total value = 71,685,750,000

Strike 189000 has a total call value of 43,786,750,000 versus a total put value of 27,227,625,000 Combined total value = 71,014,375,000

Strike 189250 has a total call value of 44,554,625,000 versus a total put value of 25,827,875,000 Combined total value = 70,382,500,000

Strike 189500 has a total call value of 45,322,500,000 versus a total put value of 24,428,125,000 Combined total value = 69,750,625,000

Strike 189750 has a total call value of 46,090,375,000 versus a total put value of 23,028,375,000 Combined total value = 69,118,750,000

Strike 190000 has a total call value of 46,858,250,000 versus a total put value of 21,628,625,000 Combined total value = 68,486,875,000

Strike 190250 has a total call value of 47,804,375,000 versus a total put value of 20,643,500,000 Combined total value = 68,447,875,000

Strike 190500 has a total call value of 48,750,500,000 versus a total put value of 19,658,375,000 Combined total value = 68,408,875,000

Strike 190750 has a total call value of 49,696,625,000 versus a total put value of 18,673,750,000 Combined total value = 68,370,375,000

Strike 191000 has a total call value of 50,642,750,000 versus a total put value of 17,689,125,000 Combined total value = 68,331,875,000

Strike 191250 has a total call value of 51,607,625,000 versus a total put value of 16,757,750,000 Combined total value = 68,365,375,000

Strike 191500 has a total call value of 52,572,500,000 versus a total put value of 15,826,375,000 Combined total value = 68,398,875,000

Strike 191750 has a total call value of 53,537,375,000 versus a total put value of 14,895,000,000 Combined total value = 68,432,375,000

Strike 192000 has a total call value of 54,502,250,000 versus a total put value of 13,963,625,000 Combined total value = 68,465,875,000

Strike 192250 has a total call value of 55,525,125,000 versus a total put value of 13,097,750,000 Combined total value = 68,622,875,000

Strike 192500 has a total call value of 56,548,000,000 versus a total put value of 12,231,875,000 Combined total value = 68,779,875,000

Strike 192750 has a total call value of 57,570,875,000 versus a total put value of 11,366,000,000 Combined total value = 68,936,875,000

Strike 193000 has a total call value of 58,593,750,000 versus a total put value of 10,500,125,000 Combined total value = 69,093,875,000

Strike 193250 has a total call value of 59,674,000,000 versus a total put value of 9,712,875,000 Combined total value = 69,386,875,000

Strike 193500 has a total call value of 60,754,250,000 versus a total put value of 8,925,625,000 Combined total value = 69,679,875,000

Strike 193750 has a total call value of 61,834,500,000 versus a total put value of 8,138,375,000 Combined total value = 69,972,875,000

Strike 194000 has a total call value of 62,914,750,000 versus a total put value of 7,351,125,000 Combined total value = 70,265,875,000

Strike 194250 has a total call value of 64,061,250,000 versus a total put value of 6,625,625,000 Combined total value = 70,686,875,000

Strike 194500 has a total call value of 65,207,750,000 versus a total put value of 5,900,125,000 Combined total value = 71,107,875,000

Strike 194750 has a total call value of 66,354,250,000 versus a total put value of 5,174,625,000 Combined total value = 71,528,875,000

Strike 195000 has a total call value of 67,500,750,000 versus a total put value of 4,449,125,000 Combined total value = 71,949,875,000

Strike 195250 has a total call value of 68,801,125,000 versus a total put value of 4,029,500,000 Combined total value = 72,830,625,000

Strike 195500 has a total call value of 70,101,500,000 versus a total put value of 3,609,875,000 Combined total value = 73,711,375,000

Strike 195750 has a total call value of 71,401,875,000 versus a total put value of 3,190,250,000 Combined total value = 74,592,125,000

Strike 196000 has a total call value of 72,702,250,000 versus a total put value of 2,770,625,000 Combined total value = 75,472,875,000

Strike 196250 has a total call value of 74,027,000,000 versus a total put value of 2,422,375,000 Combined total value = 76,449,375,000

Strike 196500 has a total call value of 75,351,750,000 versus a total put value of 2,074,125,000 Combined total value = 77,425,875,000

Strike 196750 has a total call value of 76,677,125,000 versus a total put value of 1,725,875,000 Combined total value = 78,403,000,000

Strike 197000 has a total call value of 78,002,500,000 versus a total put value of 1,377,625,000 Combined total value = 79,380,125,000

Strike 197250 has a total call value of 79,373,875,000 versus a total put value of 1,142,125,000 Combined total value = 80,516,000,000

Strike 197500 has a total call value of 80,745,250,000 versus a total put value of 906,625,000 Combined total value = 81,651,875,000

Strike 197750 has a total call value of 82,119,125,000 versus a total put value of 672,000,000 Combined total value = 82,791,125,000

Strike 198000 has a total call value of 83,493,000,000 versus a total put value of 437,750,000 Combined total value = 83,930,750,000

Strike 198250 has a total call value of 84,987,625,000 versus a total put value of 329,750,000 Combined total value = 85,317,375,000

Strike 198500 has a total call value of 86,482,250,000 versus a total put value of 221,750,000 Combined total value = 86,704,000,000

Strike 198750 has a total call value of 87,992,375,000 versus a total put value of 113,750,000 Combined total value = 88,106,125,000

Strike 199000 has a total call value of 89,502,500,000 versus a total put value of 5,750,000 Combined total value = 89,508,250,000

Strike 199250 has a total call value of 91,143,500,000 versus a total put value of 2,875,000 Combined total value = 91,146,375,000

Strike 199500 has a total call value of 92,785,500,000 versus a total put value of 0 Combined total value = 92,785,500,000

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	1136.4	1140
ABB	5228.5	5200
ABCAPITAL	348.15	350
ADANIENSOL	988.6	990
ADANIENT	2226.4	2300
ADANIGREEN	1022.7	1020
ADANIPORTS	1490.7	1500
ALKEM	5676	5700
AMBER	6750.5	6800
AMBUJACEM	546.05	555
ANGELONE	2518.7	2600
APLAPOLLO	1721.4	1740
APOLLOHOSP	7014.5	7200
ASHOKLEY	165.98	160
ASIANPAINT	2800	2800
ASTRAL	1443.5	1460
AUBANK	992.9	960
AUROPHARMA	1183	1200
AXISBANK	1227.3	1240
BAJAJ-AUTO	8944.5	9000
BAJAJFINSV	2031.1	2060
BAJFINANCE	1005.1	1020
BANDHANBNK	150.15	150
BANKBARODA	285.1	290
BANKINDIA	141.48	143
BDL	1340	1400
BEL	386.45	400
BHARATFORG	1402.7	1400
BHARTIARTL	2098	2100
BHEL	277.85	280
BIOCON	386.15	390
BLUESTARCO	1815	1780
BOSCHLTD	36250	36500
BPCL	369.25	365
BRITANNIA	6108	6000
BSE	2649	2700
CAMS	750.7	780
CANBK	150.15	149
CDSL	1489.4	1560
CGPOWER	681	680
CHOLAFIN	1711	1700
CIPLA	1495.7	1520
COALINDIA	384.05	384.75
COFORGE	1870.8	1840
COLPAL	2125.1	2180
CONCOR	498.2	520
CROMPTON	251.9	265
CUMMINSIND	4503.4	4500
CYIENT	1138.1	1160
DABUR	496.7	505
DALBHARAT	2049.4	2040
DELHIVERY	401.5	410
DIVISLAB	6364	6400
DIXON	13392	13750
DLF	685.15	710
DMART	3848.7	3900
DRREDDY	1271	1270
EICHERMOT	7152	7100
ETERNAL	285.3	295
EXIDEIND	362.35	375
FEDERALBNK	263.7	260
FORTIS	874.6	890
GAIL	169.36	175
GLENMARK	1962.5	1940
GMRAIRPORT	102.65	102
GODREJCP	1186.3	1160
GODREJPROP	2022.5	2080
GRASIM	2789.3	2800
HAL	4236	4450
HAVELLS	1397.5	1440
HCLTECH	1656.9	1660
HDFCAMC	2570.9	2620
HDFCBANK	987.3	1000
HDFCLIFE	755.35	770
HEROMOTOCO	5890	6000
HFCL	64.9	68
HINDALCO	844.5	820
HINDPETRO	468.4	460
HINDUNILVR	2281	2300
HINDZINC	581.85	550
HUDCO	210.1	220
ICICIBANK	1347	1370
ICICIGI	1945.9	1980
ICICIPRULI	635.9	630
IDEA	11.31	11
IDFCFIRSTB	83.52	82
IEX	140.85	145
IIFL	567.7	560
INDHOTEL	723.85	740
INDIANB	776.6	820
INDIGO	4951	5000
INDUSINDBK	839.65	850
INDUSTOWER	406.1	410
INFY	1596.3	1600
INOXWIND	126.36	130
IOC	168.29	166
IRCTC	668.05	690
IREDA	133.12	140
IRFC	111.75	116
ITC	401.95	405
JINDALSTEL	1006.4	1020
JIOFIN	293.65	305
JSWENERGY	478	490
JSWSTEEL	1086.7	1130
JUBLFOOD	556.3	580
KALYANKJIL	479	480
KAYNES	4195	4400
KEI	4071.7	4100
KFINTECH	1027.7	1060
KOTAKBANK	2178.7	2160
KPITTECH	1168.6	1200
LAURUSLABS	1014.4	1000
LICHSGFIN	526.05	550
LICI	856.1	880
LODHA	1077.4	1100
LT	4058	4040
LTF	302.5	302.5
LTIM	6223	6200
LUPIN	2118.1	2080
M&M	3618.8	3650
MANAPPURAM	284.85	280
MANKIND	2103.3	2200
MARICO	737.6	740
MARUTI	16390	16300
MAXHEALTH	1059.1	1100
MAZDOCK	2387.1	2550
MCX	10161	10100
MFSL	1658.6	1700
MOTHERSON	119.66	116
MPHASIS	2869.5	2900
MUTHOOTFIN	3831.3	3800
NATIONALUM	279.3	270
NAUKRI	1355.1	1360
NBCC	110.9	112
NCC	157.5	167.5
NESTLEIND	1236.5	1240
NHPC	75.49	78
NMDC	77.29	77
NTPC	321.15	325
NUVAMA	7223	7200
NYKAA	246.25	255
OBEROIRLTY	1627.9	1640
OFSS	7803.5	8000
OIL	402	410
ONGC	231.62	239
PAGEIND	36145	37000
PATANJALI	536.35	545
PAYTM	1276.9	1300
PERSISTENT	6301	6300
PETRONET	267.2	278
PFC	337.15	355
PGEL	563.15	560
PHOENIXLTD	1785	1740
PIDILITIND	1462	1480
PIIND	3225.1	3350
PNB	118.39	120
PNBHOUSING	910.85	910
POLICYBZR	1795	1840
POLYCAB	7088	7200
POWERGRID	261.2	270
POWERINDIA	19435	19500
PPLPHARMA	169.2	180
PRESTIGE	1606.9	1660
RBLBANK	298	310
RECLTD	335.1	350
RELIANCE	1542.4	1540
RVNL	308.1	315
SAIL	129.84	133
SAMMAANCAP	145.15	155
SBICARD	838.75	870
SBILIFE	2018.6	2020
SBIN	974.9	970
SHREECEM	26100	26500
SHRIRAMFIN	859	850
SIEMENS	3153.8	3200
SOLARINDS	11899	12500
SONACOMS	486.1	500
SRF	3007.4	2950
SUNPHARMA	1777	1800
SUPREMEIND	3377	3400
SUZLON	52.4	54
SYNGENE	644.5	650
TATACONSUM	1178	1170
TATAELXSI	5008	5100
TATAMOTORS	0	320
TATAPOWER	381.2	390
TATASTEEL	170.41	170
TATATECH	648.85	670
TCS	3221.8	3200
TECHM	1577.4	1540
TIINDIA	2633.9	2700
TITAGARH	784	800
TITAN	3928	3880
TMPV	348.15	360
TORNTPHARM	3743.4	3750
TORNTPOWER	1296	1300
TRENT	4083	4200
TVSMOTOR	3638.5	3600
ULTRACEMCO	11530	11700
UNIONBANK	153.47	155
UNITDSPR	1446.9	1440
UNOMINDA	1256.1	1280
UPL	748.95	750
VBL	474.1	470
VEDL	569.3	550
VOLTAS	1390	1380
WIPRO	261.04	255
YESBANK	21.53	22
ZYDUSLIFE	917.4	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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