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NIFTY Bank

NSE: BANKNIFTY · Lot size: 15 · Weekly Wednesday expiry

OverviewOption ChainOI AnalysisMax Pain

NIFTY Bank Max Pain Today

₹56,330.3Updated 27 Apr 2026, 10:00 am IST
Max Pain Strike
56,100
Writers' least-loss point
Spot vs Max Pain
+0.41%
Spot 56,330
Max Pain Shift
+0
vs yesterday
Days to Expiry
1
2026-04-28
2nd Lowest Pain Strike
56,000
100 points from max pain

What is BANKNIFTY Max Pain?

Max Pain theory states NIFTY Bank gravitates toward the strike where option writers face minimum collective loss at expiry. Today that strike is 56,100. Spot at 56,330 is near max pain — expiry magnetic pull is active.

AI AnalysisGenerated daily after market close · AI-powered

Max Pain Level

The max pain strike is ₹56100, where outstanding options would cost option writers the least to settle. This level acts as a magnet as expiry nears, reflecting minimal financial loss for sellers.

Spot vs Max Pain Gap

The spot price is 0.41% above the max pain, indicating a slight upward gap. This suggests a potential downward pull toward ₹56100 unless strong momentum sustains above the strike.

Shift Signal

The max pain level is unchanged from yesterday, signaling stable writer positioning. Persistent resistance or support near ₹56100 may hold, with minimal shift in large open interest concentrations.

Expiry Bias

With one day left, the index may drift toward ₹56100, aligning with settlement efficiency. The pull strengthens as time decays, especially within the final five days of expiry.

Trader Note

With limited time to expiry, premium decay strategies offer an edge, focusing on short options near ₹56100.

Data as of 2026-04-27

Frequently Asked Questions

What is NIFTY Bank max pain today?▾
NIFTY Bank's max pain strike is ₹56,100 for the 2026-04-28 expiry (1 days away). Spot is 0.4% above max pain.
How is max pain calculated for NIFTY Bank?▾
NIFTY Bank's max pain is calculated by taking every possible expiry price and computing the total ITM payout to all option buyers: sum of (CE OI × max(0, spot − strike)) + (PE OI × max(0, strike − spot)) for all strikes. The strike with the minimum total payout is the max pain — where option writers collectively lose the least.
Does max pain predict NIFTY Bank expiry price?▾
Max pain theory suggests the underlying tends to gravitate toward the max pain strike as expiry approaches, because option writers (who have the capital and hedging ability) can influence spot price. It's more reliable within 1 week of expiry and for liquid stocks like NIFTY Bank. It should be used with other signals, not in isolation.
What happened to NIFTY Bank max pain since yesterday?▾
NIFTY Bank's max pain is unchanged from the previous session. Max pain shifts indicate that option writers are adjusting their positions — a rising max pain is modestly bullish; falling is modestly bearish.
What is the next expiry for NIFTY Bank options?▾
NIFTY Bank's next options expiry is on 2026-04-28 — 1 days away. NSE F&O stocks have monthly expiry on the last Tuesday of each month. As expiry approaches, gamma risk increases and max pain becomes a stronger gravitational force.