BHEL
Bhel
Max pain for BHEL
26 Oct 2025 01:41 AM IST
Max Pain for BHEL is 237.5
Strike 200 has a total call value of 0 versus a total put value of 32,059,125,000 Combined total value = 32,059,125,000
Strike 202.5 has a total call value of 25,593,750 versus a total put value of 29,740,593,750 Combined total value = 29,766,187,500
Strike 205 has a total call value of 51,187,500 versus a total put value of 27,422,062,500 Combined total value = 27,473,250,000
Strike 207.5 has a total call value of 76,781,250 versus a total put value of 25,103,531,250 Combined total value = 25,180,312,500
Strike 210 has a total call value of 102,375,000 versus a total put value of 22,785,000,000 Combined total value = 22,887,375,000
Strike 212.5 has a total call value of 180,468,750 versus a total put value of 20,580,000,000 Combined total value = 20,760,468,750
Strike 215 has a total call value of 258,562,500 versus a total put value of 18,375,000,000 Combined total value = 18,633,562,500
Strike 217.5 has a total call value of 336,656,250 versus a total put value of 16,316,343,750 Combined total value = 16,653,000,000
Strike 220 has a total call value of 414,750,000 versus a total put value of 14,275,406,250 Combined total value = 14,690,156,250
Strike 222.5 has a total call value of 546,000,000 versus a total put value of 12,425,437,500 Combined total value = 12,971,437,500
Strike 225 has a total call value of 702,843,750 versus a total put value of 10,622,718,750 Combined total value = 11,325,562,500
Strike 227.5 has a total call value of 918,750,000 versus a total put value of 9,038,531,250 Combined total value = 9,957,281,250
Strike 230 has a total call value of 1,156,968,750 versus a total put value of 7,515,375,000 Combined total value = 8,672,343,750
Strike 232.5 has a total call value of 1,559,250,000 versus a total put value of 6,297,375,000 Combined total value = 7,856,625,000
Strike 235 has a total call value of 2,053,406,250 versus a total put value of 5,187,656,250 Combined total value = 7,241,062,500
Strike 237.5 has a total call value of 2,819,250,000 versus a total put value of 4,216,406,250 Combined total value = 7,035,656,250
Strike 240 has a total call value of 3,835,125,000 versus a total put value of 3,297,000,000 Combined total value = 7,132,125,000
Strike 242.5 has a total call value of 5,846,531,250 versus a total put value of 2,692,593,750 Combined total value = 8,539,125,000
Strike 245 has a total call value of 8,092,218,750 versus a total put value of 2,129,531,250 Combined total value = 10,221,750,000
Strike 247.5 has a total call value of 11,133,937,500 versus a total put value of 1,788,281,250 Combined total value = 12,922,218,750
Strike 250 has a total call value of 14,251,781,250 versus a total put value of 1,471,312,500 Combined total value = 15,723,093,750
Strike 252.5 has a total call value of 18,827,812,500 versus a total put value of 1,219,312,500 Combined total value = 20,047,125,000
Strike 255 has a total call value of 23,483,250,000 versus a total put value of 967,312,500 Combined total value = 24,450,562,500
Strike 257.5 has a total call value of 28,445,812,500 versus a total put value of 736,312,500 Combined total value = 29,182,125,000
Strike 260 has a total call value of 33,475,312,500 versus a total put value of 505,312,500 Combined total value = 33,980,625,000
Strike 262.5 has a total call value of 39,038,343,750 versus a total put value of 392,437,500 Combined total value = 39,430,781,250
Strike 265 has a total call value of 44,633,531,250 versus a total put value of 279,562,500 Combined total value = 44,913,093,750
Strike 267.5 has a total call value of 50,400,656,250 versus a total put value of 202,781,250 Combined total value = 50,603,437,500
Strike 270 has a total call value of 56,186,156,250 versus a total put value of 126,000,000 Combined total value = 56,312,156,250
Strike 272.5 has a total call value of 62,215,125,000 versus a total put value of 94,500,000 Combined total value = 62,309,625,000
Strike 275 has a total call value of 68,244,093,750 versus a total put value of 63,000,000 Combined total value = 68,307,093,750
Strike 277.5 has a total call value of 74,313,750,000 versus a total put value of 31,500,000 Combined total value = 74,345,250,000
Strike 280 has a total call value of 80,383,406,250 versus a total put value of 0 Combined total value = 80,383,406,250
Max-Pain Table for stock monthly expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| 360ONE | 1001.8 | 1140 |
| ABB | 5173.4 | 5200 |
| ABCAPITAL | 278.9 | 300 |
| ADANIENSOL | 879.2 | 930 |
| ADANIENT | 2543.7 | 2560 |
| ADANIGREEN | 1047.4 | 1060 |
| ADANIPORTS | 1392 | 1440 |
| ALKEM | 5433 | 5550 |
| AMBER | 8162.5 | 8200 |
| AMBUJACEM | 565.2 | 580 |
| ANGELONE | 2136.4 | 2400 |
| APLAPOLLO | 1660.1 | 1720 |
| APOLLOHOSP | 7510 | 7800 |
| ASHOKLEY | 141.93 | 137.5 |
| ASIANPAINT | 2342.8 | 2440 |
| ASTRAL | 1373.8 | 1440 |
| AUBANK | 743.2 | 840 |
| AUROPHARMA | 1090 | 1100 |
| AXISBANK | 1154 | 1190 |
| BAJAJ-AUTO | 8702 | 9000 |
| BAJAJFINSV | 2003.2 | 2080 |
| BAJFINANCE | 985.1 | 1050 |
| BANDHANBNK | 155.02 | 165 |
| BANKBARODA | 248.45 | 260 |
| BANKINDIA | 116.33 | 130 |
| BDL | 1497.8 | 1550 |
| BEL | 395.9 | 410 |
| BHARATFORG | 1181.1 | 1260 |
| BHARTIARTL | 1916.6 | 1960 |
| BHEL | 231.01 | 237.5 |
| BIOCON | 338.9 | 360 |
| BLUESTARCO | 1890.1 | 1960 |
| BOSCHLTD | 38150 | 39000 |
| BPCL | 324.35 | 335 |
| BRITANNIA | 5920.5 | 6000 |
| BSE | 2043.2 | 2400 |
| CAMS | 3800 | 3900 |
| CANBK | 118.08 | 125 |
| CDSL | 1467.7 | 1580 |
| CGPOWER | 739.4 | 750 |
| CHOLAFIN | 1569.9 | 1660 |
| CIPLA | 1499.4 | 1590 |
| COALINDIA | 389.15 | 390 |
| COFORGE | 1538.5 | 1700 |
| COLPAL | 2224.3 | 2260 |
| CONCOR | 524.8 | 540 |
| CROMPTON | 292.6 | 300 |
| CUMMINSIND | 3947.6 | 4100 |
| CYIENT | 1134.1 | 1180 |
| DABUR | 499.75 | 500 |
| DALBHARAT | 2215.4 | 2140 |
| DELHIVERY | 445.7 | 465 |
| DIVISLAB | 5689.5 | 6400 |
| DIXON | 17511 | 16000 |
| DLF | 716.05 | 760 |
| DMART | 4517.8 | 4300 |
| DRREDDY | 1253.1 | 1270 |
| EICHERMOT | 7047 | 6900 |
| ETERNAL | 321 | 330 |
| EXIDEIND | 388.8 | 400 |
| FEDERALBNK | 191.82 | 220 |
| FORTIS | 932.75 | 1040 |
| GAIL | 172.02 | 180 |
| GLENMARK | 1971.7 | 1900 |
| GMRAIRPORT | 87.28 | 91 |
| GODREJCP | 1163.9 | 1140 |
| GODREJPROP | 1957.6 | 2200 |
| GRASIM | 2746.8 | 2820 |
| HAL | 4736.1 | 4800 |
| HAVELLS | 1507.4 | 1500 |
| HCLTECH | 1395.3 | 1500 |
| HDFCAMC | 5621 | 5650 |
| HDFCBANK | 945.05 | 990 |
| HDFCLIFE | 764.4 | 750 |
| HEROMOTOCO | 5328 | 5550 |
| HFCL | 72.1 | 75 |
| HINDALCO | 743.85 | 800 |
| HINDPETRO | 422.25 | 440 |
| HINDUNILVR | 2511.8 | 2540 |
| HINDZINC | 449.1 | 490 |
| HUDCO | 220.05 | 230 |
| ICICIBANK | 1359.6 | 1390 |
| ICICIGI | 1894 | 1960 |
| ICICIPRULI | 585.5 | 600 |
| IDEA | 8.02 | 9 |
| IDFCFIRSTB | 68.59 | 75 |
| IEX | 137.76 | 142.5 |
| IGL | 202.26 | 215 |
| IIFL | 419.35 | 480 |
| INDHOTEL | 709.8 | 740 |
| INDIANB | 706.35 | 800 |
| INDIGO | 5561 | 5750 |
| INDUSINDBK | 712.75 | 750 |
| INDUSTOWER | 346.3 | 355 |
| INFY | 1448.9 | 1480 |
| INOXWIND | 137.46 | 150 |
| IOC | 145.04 | 152 |
| IRCTC | 703.1 | 720 |
| IREDA | 146.28 | 155 |
| IRFC | 121.91 | 125 |
| ITC | 405.1 | 410 |
| JINDALSTEL | 1029.5 | 1030 |
| JIOFIN | 295.85 | 310 |
| JSWENERGY | 520.1 | 530 |
| JSWSTEEL | 1130.8 | 1150 |
| JUBLFOOD | 606.9 | 600 |
| KALYANKJIL | 455.8 | 490 |
| KAYNES | 7341 | 7000 |
| KEI | 4049.3 | 4200 |
| KFINTECH | 1070.8 | 1140 |
| KOTAKBANK | 1994.8 | 2140 |
| KPITTECH | 1212.8 | 1180 |
| LAURUSLABS | 832.3 | 900 |
| LICHSGFIN | 564.95 | 580 |
| LICI | 872.45 | 900 |
| LODHA | 1141.1 | 1160 |
| LT | 3729.5 | 3800 |
| LTF | 236.29 | 262.5 |
| LTIM | 5075 | 5550 |
| LUPIN | 1919.8 | 1960 |
| M&M | 3396.5 | 3550 |
| MANAPPURAM | 276.9 | 285 |
| MANKIND | 2482.9 | 2450 |
| MARICO | 698.35 | 720 |
| MARUTI | 16286 | 16100 |
| MAXHEALTH | 1123.4 | 1180 |
| MAZDOCK | 2827.6 | 2850 |
| MCX | 7920.5 | 9000 |
| MFSL | 1545.6 | 1560 |
| MOTHERSON | 105.66 | 106 |
| MPHASIS | 2642.4 | 2800 |
| MUTHOOTFIN | 3020.3 | 3200 |
| NATIONALUM | 200.58 | 230 |
| NAUKRI | 1316.2 | 1380 |
| NBCC | 105.18 | 111 |
| NCC | 202.51 | 210 |
| NESTLEIND | 1162.6 | 1230 |
| NHPC | 83.64 | 86 |
| NMDC | 74.99 | 76 |
| NTPC | 337.9 | 340 |
| NUVAMA | 6115 | 7000 |
| NYKAA | 230.62 | 255 |
| OBEROIRLTY | 1577.7 | 1660 |
| OFSS | 8515 | 8700 |
| OIL | 410.25 | 420 |
| ONGC | 238.02 | 250 |
| PAGEIND | 41240 | 41500 |
| PATANJALI | 589 | 590 |
| PAYTM | 1125.2 | 1260 |
| PERSISTENT | 4951 | 5600 |
| PETRONET | 266.9 | 285 |
| PFC | 397.3 | 410 |
| PGEL | 514.65 | 560 |
| PHOENIXLTD | 1540.4 | 1660 |
| PIDILITIND | 1474.8 | 1510 |
| PIIND | 3487.6 | 3600 |
| PNB | 107.79 | 117 |
| PNBHOUSING | 864.1 | 890 |
| POLICYBZR | 1677.1 | 1700 |
| POLYCAB | 7322.5 | 7500 |
| POWERGRID | 282.25 | 290 |
| POWERINDIA | 0 | 17250 |
| PPLPHARMA | 187.73 | 200 |
| PRESTIGE | 1507.4 | 1680 |
| RBLBANK | 272.35 | 295 |
| RECLTD | 367.4 | 380 |
| RELIANCE | 1377.6 | 1420 |
| RVNL | 337.8 | 340 |
| SAIL | 131.02 | 132 |
| SAMMAANCAP | 137.82 | 170 |
| SBICARD | 873.85 | 920 |
| SBILIFE | 1798.8 | 1800 |
| SBIN | 856.95 | 885 |
| SHREECEM | 28910 | 29000 |
| SHRIRAMFIN | 606.05 | 680 |
| SIEMENS | 3096.3 | 3150 |
| SILVER | 0 | 150000 |
| SILVERM | 142014 | 150000 |
| SOLARINDS | 13766 | 14000 |
| SONACOMS | 407.1 | 460 |
| SRF | 2806.9 | 3100 |
| SUNPHARMA | 1586.7 | 1680 |
| SUPREMEIND | 4234.2 | 4150 |
| SUZLON | 55.28 | 55 |
| SYNGENE | 609.45 | 640 |
| TATACONSUM | 1119 | 1150 |
| TATAELXSI | 5303 | 5400 |
| TATAMOTORS | 672.9 | 360 |
| TATAPOWER | 383.8 | 400 |
| TATASTEEL | 167.4 | 175 |
| TATATECH | 667.3 | 700 |
| TCS | 2899.1 | 3020 |
| TECHM | 1407.7 | 1460 |
| TIINDIA | 3129.1 | 3200 |
| TITAGARH | 879.25 | 900 |
| TITAN | 3327.3 | 3600 |
| TMPV | 0 | 400 |
| TORNTPHARM | 3561 | 3550 |
| TORNTPOWER | 1233.3 | 1300 |
| TRENT | 4679 | 4800 |
| TVSMOTOR | 3414.4 | 3550 |
| ULTRACEMCO | 12070 | 12200 |
| UNIONBANK | 134.08 | 140 |
| UNITDSPR | 1297.4 | 1350 |
| UNOMINDA | 1268.9 | 1240 |
| UPL | 648 | 680 |
| VBL | 444.75 | 460 |
| VEDL | 447.95 | 480 |
| VOLTAS | 1340.2 | 1400 |
| WIPRO | 235.75 | 245 |
| YESBANK | 20.97 | 23 |
| ZYDUSLIFE | 975 | 1000 |
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.
