NIFTY Midcap Select Max Pain Today

₹14867.90Updated 19 Aug 2026, 03:30 pm IST

Max Pain Strike

14,900Writers' least-loss point

Spot vs Max Pain

−0.22%Spot 14,868

Max Pain Shift

+0vs yesterday

Days to Expiry

62026-08-25

2nd Lowest Pain Strike

14,87525 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 14,900. Spot at 14,868 is near max pain — expiry magnetic pull is active.

AI AnalysisGenerated daily after market close · AI-powered

Max Pain Level

The “max pain” strike for NIFTY Midcap Select (MIDCPNIFTY) is ₹14,900. This level represents the strike where option writers would incur the smallest aggregate loss, acting as a magnet that often draws the index toward it as expiry approaches.

Spot vs Max Pain Gap

The spot index sits at ₹14,867.9, roughly 0.22 % below the max‑pain strike. The modest upside gap suggests a slight pull‑back pressure, as market participants may need to push the index higher to align with the pain point.

Shift Signal

There is no shift in the max‑pain level from yesterday, indicating a steady positioning among option writers. Stability in the pain strike implies that writers have already concentrated their hedge positions around ₹14,900, reinforcing the magnet effect.

Expiry Context

Max pain is derived from the net open interest of calls and puts; the strike with the lowest combined payout to writers tends to attract the underlying price as the remaining time value erodes. In the final week before expiry, it is common to see the index gravitate toward this strike, though the outcome remains a statistical tendency rather than a certainty.

Data Note

The spot is currently 32.1 points (≈0.22 %) below the max‑pain level, with six days remaining until the 2026‑08‑25 expiry.

Data as of 2026-08-19

Frequently Asked Questions

What is NIFTY Midcap Select max pain today?

NIFTY Midcap Select's max pain strike is ₹14,900 for the 2026-08-25 expiry (6 days away). Spot is 0.2% below 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 2026-08-25 — 6 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.