NIFTY Midcap Select Max Pain Today

₹13,919.05Updated 27 Apr 2026, 10:00 am IST

Max Pain Strike

13,800

Writers' least-loss point

Spot vs Max Pain

+0.86%

Spot 13,919

Max Pain Shift

vs yesterday

Days to Expiry

2026-04-28

2nd Lowest Pain Strike

13,775

25 points from max pain

What is MIDCPNIFTY Max Pain?

Max Pain theory states NIFTY Midcap Select gravitates toward the strike where option writers face minimum collective loss at expiry. Today that strike is 13,800. Spot at 13,919 is near max pain — expiry magnetic pull is active.

AI AnalysisGenerated daily after market close · AI-powered

Max Pain Level

The max pain for MIDCPNIFTY is at ₹13800, representing the strike where option writer losses are minimized. As expiry nears, this level often acts as a magnet due to dealer hedging and positioning dynamics.

Spot vs Max Pain Gap

The spot price, at ₹13919.05, trades 0.86% above the max pain level, indicating a modest premium to the optimal writer outcome. This gap suggests potential downward pressure as the index may drift toward minimizing total call and put obligations.

Shift Signal

The max pain level has remained unchanged from yesterday, signaling stable writer positioning around ₹13800. A flat shift reflects balanced open interest builds and limited response to spot movement.

Expiry Bias

With just one day to expiry, the index is biased to drift toward ₹13800, supported by strong dealer gamma and the concentration of open interest. The pull is stronger now, as max pain influence intensifies within the final five days.

Trader Note

With limited time to expiry, traders should focus on premium decay strategies like short strangles or credit spreads centered near ₹13800.

Data as of 2026-04-27

Frequently Asked Questions

What is NIFTY Midcap Select max pain today?▾

NIFTY Midcap Select's max pain strike is ₹13,800 for the 2026-04-28 expiry (1 days away). Spot is 0.9% above max pain.

How is max pain calculated for NIFTY Midcap Select?▾

NIFTY Midcap Select'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 Midcap Select 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 Midcap Select. It should be used with other signals, not in isolation.

What happened to NIFTY Midcap Select max pain since yesterday?▾

NIFTY Midcap Select'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 Midcap Select options?▾

NIFTY Midcap Select'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.