Max Pain Today
Max pain for every F&O index and stock, from live open interest: the expiry price where option writers pay the least.
Indices
F&O stocks 210
What is max pain?
At expiry, option writers pay buyers the intrinsic value of every in-the-money option. Max pain is the settlement price where that total payout is lowest - the level that hurts option buyers the most and writers the least.
How traders use it
Large writers hedge around the strikes where they hold the most open interest, so the price often drifts toward max pain in the last few sessions before expiry. Read it with the put-call ratio, the expected move and how long it has held - not on its own.
Frequently asked questions
What is max pain in options?
Max pain is the expiry price at which the total payout option writers owe buyers is lowest - where the most options expire worthless. It is calculated from the open interest of every strike of one expiry.
How is max pain calculated?
At expiry, option writers pay buyers the intrinsic value of every in-the-money option. For each strike we add up what call writers and put writers would owe if the underlying settled exactly there, using the open interest of that expiry. Max pain is the settlement price where that total is lowest.
Which symbols have max pain on Quantsapp?
All 8 F&O indices (NIFTY, BANKNIFTY, FINNIFTY, MIDCPNIFTY, NIFTYNXT50, SENSEX and more) and 210 F&O stocks, for every open expiry.
Is max pain a reliable indicator?
It works best close to expiry and in range-bound markets, when writers defend their positions. Trend days, news and large fresh positions can carry the price well away from it, so use it with PCR and the expected move.
Data is for information only and is not investment advice. Derivatives trading carries substantial risk. Disclaimer