BANKEX
Bank Index
Max pain for BANKEX
28 Sep 2025 10:08 PM IST
Max Pain for BANKEX is 61800
Strike 58000 has a total call value of 0 versus a total put value of 2,304,000,000 Combined total value = 2,304,000,000
Strike 58100 has a total call value of 0 versus a total put value of 2,242,500,000 Combined total value = 2,242,500,000
Strike 58200 has a total call value of 0 versus a total put value of 2,181,000,000 Combined total value = 2,181,000,000
Strike 58300 has a total call value of 0 versus a total put value of 2,119,500,000 Combined total value = 2,119,500,000
Strike 58400 has a total call value of 0 versus a total put value of 2,058,000,000 Combined total value = 2,058,000,000
Strike 58500 has a total call value of 0 versus a total put value of 1,996,500,000 Combined total value = 1,996,500,000
Strike 58600 has a total call value of 300,000 versus a total put value of 1,935,000,000 Combined total value = 1,935,300,000
Strike 58700 has a total call value of 900,000 versus a total put value of 1,873,500,000 Combined total value = 1,874,400,000
Strike 58800 has a total call value of 1,500,000 versus a total put value of 1,812,300,000 Combined total value = 1,813,800,000
Strike 58900 has a total call value of 2,100,000 versus a total put value of 1,751,100,000 Combined total value = 1,753,200,000
Strike 59000 has a total call value of 3,000,000 versus a total put value of 1,689,900,000 Combined total value = 1,692,900,000
Strike 59100 has a total call value of 4,200,000 versus a total put value of 1,628,700,000 Combined total value = 1,632,900,000
Strike 59200 has a total call value of 6,000,000 versus a total put value of 1,567,500,000 Combined total value = 1,573,500,000
Strike 59300 has a total call value of 8,100,000 versus a total put value of 1,506,300,000 Combined total value = 1,514,400,000
Strike 59400 has a total call value of 10,500,000 versus a total put value of 1,445,100,000 Combined total value = 1,455,600,000
Strike 59500 has a total call value of 12,900,000 versus a total put value of 1,383,900,000 Combined total value = 1,396,800,000
Strike 59600 has a total call value of 16,500,000 versus a total put value of 1,322,700,000 Combined total value = 1,339,200,000
Strike 59700 has a total call value of 20,400,000 versus a total put value of 1,261,500,000 Combined total value = 1,281,900,000
Strike 59800 has a total call value of 24,600,000 versus a total put value of 1,200,600,000 Combined total value = 1,225,200,000
Strike 59900 has a total call value of 29,400,000 versus a total put value of 1,139,700,000 Combined total value = 1,169,100,000
Strike 60000 has a total call value of 34,200,000 versus a total put value of 1,078,800,000 Combined total value = 1,113,000,000
Strike 60100 has a total call value of 39,900,000 versus a total put value of 1,017,900,000 Combined total value = 1,057,800,000
Strike 60200 has a total call value of 45,900,000 versus a total put value of 957,000,000 Combined total value = 1,002,900,000
Strike 60300 has a total call value of 51,900,000 versus a total put value of 896,400,000 Combined total value = 948,300,000
Strike 60400 has a total call value of 58,200,000 versus a total put value of 835,800,000 Combined total value = 894,000,000
Strike 60500 has a total call value of 64,800,000 versus a total put value of 775,200,000 Combined total value = 840,000,000
Strike 60600 has a total call value of 72,000,000 versus a total put value of 714,900,000 Combined total value = 786,900,000
Strike 60700 has a total call value of 79,800,000 versus a total put value of 655,500,000 Combined total value = 735,300,000
Strike 60800 has a total call value of 87,900,000 versus a total put value of 597,300,000 Combined total value = 685,200,000
Strike 60900 has a total call value of 96,000,000 versus a total put value of 541,500,000 Combined total value = 637,500,000
Strike 61000 has a total call value of 104,700,000 versus a total put value of 490,200,000 Combined total value = 594,900,000
Strike 61100 has a total call value of 113,700,000 versus a total put value of 443,400,000 Combined total value = 557,100,000
Strike 61200 has a total call value of 123,300,000 versus a total put value of 397,800,000 Combined total value = 521,100,000
Strike 61300 has a total call value of 133,500,000 versus a total put value of 354,900,000 Combined total value = 488,400,000
Strike 61400 has a total call value of 144,600,000 versus a total put value of 313,200,000 Combined total value = 457,800,000
Strike 61500 has a total call value of 156,300,000 versus a total put value of 273,900,000 Combined total value = 430,200,000
Strike 61600 has a total call value of 169,800,000 versus a total put value of 237,300,000 Combined total value = 407,100,000
Strike 61700 has a total call value of 187,200,000 versus a total put value of 203,700,000 Combined total value = 390,900,000
Strike 61800 has a total call value of 208,500,000 versus a total put value of 180,000,000 Combined total value = 388,500,000
Strike 61900 has a total call value of 231,600,000 versus a total put value of 158,100,000 Combined total value = 389,700,000
Strike 62000 has a total call value of 260,700,000 versus a total put value of 137,100,000 Combined total value = 397,800,000
Strike 62100 has a total call value of 340,200,000 versus a total put value of 118,200,000 Combined total value = 458,400,000
Strike 62200 has a total call value of 425,100,000 versus a total put value of 100,500,000 Combined total value = 525,600,000
Strike 62300 has a total call value of 514,200,000 versus a total put value of 85,200,000 Combined total value = 599,400,000
Strike 62400 has a total call value of 609,900,000 versus a total put value of 74,400,000 Combined total value = 684,300,000
Strike 62500 has a total call value of 709,500,000 versus a total put value of 66,300,000 Combined total value = 775,800,000
Strike 62600 has a total call value of 811,800,000 versus a total put value of 59,700,000 Combined total value = 871,500,000
Strike 62700 has a total call value of 918,000,000 versus a total put value of 53,700,000 Combined total value = 971,700,000
Strike 62800 has a total call value of 1,028,700,000 versus a total put value of 48,300,000 Combined total value = 1,077,000,000
Strike 62900 has a total call value of 1,141,200,000 versus a total put value of 42,900,000 Combined total value = 1,184,100,000
Strike 63000 has a total call value of 1,256,400,000 versus a total put value of 38,100,000 Combined total value = 1,294,500,000
Strike 63100 has a total call value of 1,372,500,000 versus a total put value of 33,300,000 Combined total value = 1,405,800,000
Strike 63200 has a total call value of 1,490,100,000 versus a total put value of 28,800,000 Combined total value = 1,518,900,000
Strike 63300 has a total call value of 1,612,500,000 versus a total put value of 24,900,000 Combined total value = 1,637,400,000
Strike 63400 has a total call value of 1,737,900,000 versus a total put value of 21,300,000 Combined total value = 1,759,200,000
Strike 63500 has a total call value of 1,865,100,000 versus a total put value of 17,700,000 Combined total value = 1,882,800,000
Strike 63600 has a total call value of 1,993,800,000 versus a total put value of 14,700,000 Combined total value = 2,008,500,000
Strike 63700 has a total call value of 2,123,700,000 versus a total put value of 11,700,000 Combined total value = 2,135,400,000
Strike 63800 has a total call value of 2,253,600,000 versus a total put value of 9,000,000 Combined total value = 2,262,600,000
Strike 63900 has a total call value of 2,383,500,000 versus a total put value of 6,600,000 Combined total value = 2,390,100,000
Strike 64000 has a total call value of 2,513,700,000 versus a total put value of 4,500,000 Combined total value = 2,518,200,000
Strike 64100 has a total call value of 2,643,900,000 versus a total put value of 2,700,000 Combined total value = 2,646,600,000
Strike 64200 has a total call value of 2,774,400,000 versus a total put value of 1,500,000 Combined total value = 2,775,900,000
Strike 64300 has a total call value of 2,904,900,000 versus a total put value of 900,000 Combined total value = 2,905,800,000
Strike 64400 has a total call value of 3,035,400,000 versus a total put value of 300,000 Combined total value = 3,035,700,000
Strike 64500 has a total call value of 3,165,900,000 versus a total put value of 0 Combined total value = 3,165,900,000
Strike 64600 has a total call value of 3,296,400,000 versus a total put value of 0 Combined total value = 3,296,400,000
Strike 64700 has a total call value of 3,426,900,000 versus a total put value of 0 Combined total value = 3,426,900,000
Strike 64800 has a total call value of 3,557,400,000 versus a total put value of 0 Combined total value = 3,557,400,000
Strike 64900 has a total call value of 3,687,900,000 versus a total put value of 0 Combined total value = 3,687,900,000
Strike 65000 has a total call value of 3,818,400,000 versus a total put value of 0 Combined total value = 3,818,400,000
Strike 65100 has a total call value of 3,951,900,000 versus a total put value of 0 Combined total value = 3,951,900,000
Strike 65200 has a total call value of 4,085,400,000 versus a total put value of 0 Combined total value = 4,085,400,000
Strike 65300 has a total call value of 4,218,900,000 versus a total put value of 0 Combined total value = 4,218,900,000
Strike 65400 has a total call value of 4,356,600,000 versus a total put value of 0 Combined total value = 4,356,600,000
Strike 65500 has a total call value of 4,494,300,000 versus a total put value of 0 Combined total value = 4,494,300,000
Strike 65600 has a total call value of 4,632,000,000 versus a total put value of 0 Combined total value = 4,632,000,000
Strike 65700 has a total call value of 4,769,700,000 versus a total put value of 0 Combined total value = 4,769,700,000
Strike 65800 has a total call value of 4,907,400,000 versus a total put value of 0 Combined total value = 4,907,400,000
Strike 65900 has a total call value of 5,045,100,000 versus a total put value of 0 Combined total value = 5,045,100,000
Strike 66000 has a total call value of 5,182,800,000 versus a total put value of 0 Combined total value = 5,182,800,000
Max-Pain Table for stock monthly expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| 360ONE | 1001.8 | 1100 |
| ABB | 5173.4 | 5400 |
| ABCAPITAL | 278.9 | 285 |
| ADANIENSOL | 879.2 | 900 |
| ADANIENT | 2543.7 | 2600 |
| ADANIGREEN | 1047.4 | 1100 |
| ADANIPORTS | 1392 | 1440 |
| ALKEM | 5433 | 5500 |
| AMBER | 8162.5 | 8400 |
| AMBUJACEM | 565.2 | 600 |
| ANGELONE | 2136.4 | 2200 |
| APLAPOLLO | 1660.1 | 1700 |
| APOLLOHOSP | 7510 | 7650 |
| ASHOKLEY | 141.93 | 140 |
| ASIANPAINT | 2342.8 | 2420 |
| ASTRAL | 1373.8 | 1460 |
| AUBANK | 743.2 | 740 |
| AUROPHARMA | 1090 | 1100 |
| AXISBANK | 1154 | 1140 |
| BAJAJ-AUTO | 8702 | 9000 |
| BAJAJFINSV | 2003.2 | 2020 |
| BAJFINANCE | 985.1 | 1000 |
| BANDHANBNK | 155.02 | 162.5 |
| BANKBARODA | 248.45 | 250 |
| BANKINDIA | 116.33 | 120 |
| BDL | 1497.8 | 1600 |
| BEL | 395.9 | 400 |
| BHARATFORG | 1181.1 | 1220 |
| BHARTIARTL | 1916.6 | 1920 |
| BHEL | 231.01 | 240 |
| BIOCON | 338.9 | 360 |
| BLUESTARCO | 1890.1 | 1940 |
| BOSCHLTD | 38150 | 39000 |
| BPCL | 324.35 | 330 |
| BRITANNIA | 5920.5 | 6000 |
| BSE | 2043.2 | 2150 |
| CAMS | 3800 | 4000 |
| CANBK | 118.08 | 120 |
| CDSL | 1467.7 | 1540 |
| CGPOWER | 739.4 | 760 |
| CHOLAFIN | 1569.9 | 1580 |
| CIPLA | 1499.4 | 1520 |
| COALINDIA | 389.15 | 400 |
| COFORGE | 1538.5 | 1640 |
| COLPAL | 2224.3 | 2340 |
| CONCOR | 524.8 | 550 |
| CROMPTON | 292.6 | 305 |
| CUMMINSIND | 3947.6 | 4000 |
| CYIENT | 1134.1 | 1200 |
| DABUR | 499.75 | 510 |
| DALBHARAT | 2215.4 | 2320 |
| DELHIVERY | 445.7 | 460 |
| DIVISLAB | 5689.5 | 6000 |
| DIXON | 17511 | 18000 |
| DLF | 716.05 | 740 |
| DMART | 4517.8 | 4600 |
| DRREDDY | 1253.1 | 1300 |
| EICHERMOT | 7047 | 7000 |
| ETERNAL | 321 | 320 |
| EXIDEIND | 388.8 | 400 |
| FEDERALBNK | 191.82 | 200 |
| FORTIS | 932.75 | 930 |
| GAIL | 172.02 | 180 |
| GLENMARK | 1971.7 | 2000 |
| GMRAIRPORT | 87.28 | 90 |
| GODREJCP | 1163.9 | 1200 |
| GODREJPROP | 1957.6 | 2000 |
| GRASIM | 2746.8 | 2800 |
| HAL | 4736.1 | 4800 |
| HAVELLS | 1507.4 | 1560 |
| HCLTECH | 1395.3 | 1440 |
| HDFCAMC | 5621 | 5800 |
| HDFCBANK | 945.05 | 960 |
| HDFCLIFE | 764.4 | 770 |
| HEROMOTOCO | 5328 | 5350 |
| HFCL | 72.1 | 75 |
| HINDALCO | 743.85 | 750 |
| HINDPETRO | 422.25 | 420 |
| HINDUNILVR | 2511.8 | 2600 |
| HINDZINC | 449.1 | 460 |
| HUDCO | 220.05 | 230 |
| ICICIBANK | 1359.6 | 1400 |
| ICICIGI | 1894 | 1900 |
| ICICIPRULI | 585.5 | 600 |
| IDEA | 8.02 | 8 |
| IDFCFIRSTB | 68.59 | 71 |
| IEX | 137.76 | 145 |
| IGL | 202.26 | 210 |
| IIFL | 419.35 | 450 |
| INDHOTEL | 709.8 | 750 |
| INDIANB | 706.35 | 710 |
| INDIGO | 5561 | 5800 |
| INDUSINDBK | 712.75 | 750 |
| INDUSTOWER | 346.3 | 360 |
| INFY | 1448.9 | 1500 |
| INOXWIND | 137.46 | 145 |
| IOC | 145.04 | 147.5 |
| IRCTC | 703.1 | 730 |
| IREDA | 146.28 | 155 |
| IRFC | 121.91 | 130 |
| ITC | 405.1 | 410 |
| JINDALSTEL | 1029.5 | 1050 |
| JIOFIN | 295.85 | 315 |
| JSWENERGY | 520.1 | 530 |
| JSWSTEEL | 1130.8 | 1120 |
| JUBLFOOD | 606.9 | 630 |
| KALYANKJIL | 455.8 | 480 |
| KAYNES | 7341 | 7000 |
| KEI | 4049.3 | 4150 |
| KFINTECH | 1070.8 | 1100 |
| KOTAKBANK | 1994.8 | 2040 |
| KPITTECH | 1212.8 | 1260 |
| LAURUSLABS | 832.3 | 880 |
| LICHSGFIN | 564.95 | 590 |
| LICI | 872.45 | 900 |
| LODHA | 1141.1 | 1200 |
| LT | 3729.5 | 3700 |
| LTF | 236.29 | 240 |
| LTIM | 5075 | 5200 |
| LUPIN | 1919.8 | 2000 |
| M&M | 3396.5 | 3500 |
| MANAPPURAM | 276.9 | 280 |
| MANKIND | 2482.9 | 2600 |
| MARICO | 698.35 | 710 |
| MARUTI | 16286 | 16000 |
| MAXHEALTH | 1123.4 | 1160 |
| MAZDOCK | 2827.6 | 3000 |
| MCX | 7920.5 | 8000 |
| MFSL | 1545.6 | 1600 |
| MOTHERSON | 105.66 | 107.5 |
| MPHASIS | 2642.4 | 2800 |
| MUTHOOTFIN | 3020.3 | 3000 |
| NATIONALUM | 200.58 | 210 |
| NAUKRI | 1316.2 | 1400 |
| NBCC | 105.18 | 110 |
| NCC | 202.51 | 210 |
| NESTLEIND | 1162.6 | 1190 |
| NHPC | 83.64 | 85 |
| NMDC | 74.99 | 78 |
| NTPC | 337.9 | 345 |
| NUVAMA | 6115 | 6200 |
| NYKAA | 230.62 | 240 |
| OBEROIRLTY | 1577.7 | 1640 |
| OFSS | 8515 | 9000 |
| OIL | 410.25 | 420 |
| ONGC | 238.02 | 240 |
| PAGEIND | 41240 | 43000 |
| PATANJALI | 589 | 600 |
| PAYTM | 1125.2 | 1180 |
| PERSISTENT | 4951 | 5200 |
| PETRONET | 266.9 | 280 |
| PFC | 397.3 | 410 |
| PGEL | 514.65 | 540 |
| PHOENIXLTD | 1540.4 | 1600 |
| PIDILITIND | 1474.8 | 1500 |
| PIIND | 3487.6 | 3600 |
| PNB | 107.79 | 110 |
| PNBHOUSING | 864.1 | 860 |
| POLICYBZR | 1677.1 | 1700 |
| POLYCAB | 7322.5 | 7400 |
| POWERGRID | 282.25 | 290 |
| PPLPHARMA | 187.73 | 200 |
| PRESTIGE | 1507.4 | 1560 |
| RBLBANK | 272.35 | 270 |
| RECLTD | 367.4 | 380 |
| RELIANCE | 1377.6 | 1400 |
| RVNL | 337.8 | 350 |
| SAIL | 131.02 | 135 |
| SAMMAANCAP | 137.82 | 140 |
| SBICARD | 873.85 | 880 |
| SBILIFE | 1798.8 | 1800 |
| SBIN | 856.95 | 860 |
| SHREECEM | 28910 | 30000 |
| SHRIRAMFIN | 606.05 | 630 |
| SIEMENS | 3096.3 | 3200 |
| SILVER | 0 | 135000 |
| SILVERM | 142014 | 137000 |
| SOLARINDS | 13766 | 14250 |
| SONACOMS | 407.1 | 420 |
| SRF | 2806.9 | 2900 |
| SUNPHARMA | 1586.7 | 1600 |
| SUPREMEIND | 4234.2 | 4400 |
| SUZLON | 55.28 | 57 |
| SYNGENE | 609.45 | 640 |
| TATACONSUM | 1119 | 1120 |
| TATAELXSI | 5303 | 5500 |
| TATAMOTORS | 672.9 | 700 |
| TATAPOWER | 383.8 | 400 |
| TATASTEEL | 167.4 | 170 |
| TATATECH | 667.3 | 700 |
| TCS | 2899.1 | 3000 |
| TECHM | 1407.7 | 1500 |
| TIINDIA | 3129.1 | 3200 |
| TITAGARH | 879.25 | 900 |
| TITAN | 3327.3 | 3400 |
| TORNTPHARM | 3561 | 3550 |
| TORNTPOWER | 1233.3 | 1300 |
| TRENT | 4679 | 4900 |
| TVSMOTOR | 3414.4 | 3400 |
| ULTRACEMCO | 12070 | 12400 |
| UNIONBANK | 134.08 | 140 |
| UNITDSPR | 1297.4 | 1360 |
| UNOMINDA | 1268.9 | 1300 |
| UPL | 648 | 680 |
| VBL | 444.75 | 460 |
| VEDL | 447.95 | 460 |
| VOLTAS | 1340.2 | 1380 |
| WIPRO | 235.75 | 247.5 |
| YESBANK | 20.97 | 21 |
| ZYDUSLIFE | 975 | 1020 |
Note:
| Stock LTP > Max Pain | Bearish Trend |
| Stock LTP < Max Pain | Bullish Trend |
What is Max Pain?
Max pain, or the max pain price, is the strike price with the most open contract puts and calls - and the price at which the stock would cause financial losses for the largest number of option holders at expiration.
Calculating Max Pain
Max pain is a simple but time consuming calculation. Essentially, it is the sum of the outstanding put and call dollar value of each in-the-money strike price. For each in-the-money strike price for both puts and calls:
- Find the difference between stock price and strike price
- Multiply the result by open interest at that strike
- Add together the dollar value for the put and call at that strike
- Repeat for each strike price
- Find the highest value strike price. This price is equivalent to max pain price.
How can a trader benefit?
As the option expiration approaches, option writers will try to buy or sell shares of stock to drive the price toward a closing price that is profitable for them, or at least to hedge their payouts to option holders. Call writers sell shares to drive share price down and Put holders buy shares to drive share price up. The max pain strike price exists somewhere in the middle.
