NIFTY Midcap Select Max Pain Today
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 13,900. Spot at 13,563 is 2.4% below max pain — possible upward gravitational pull into expiry.
Max Pain Level
The current max‑pain strike for NIFTY Midcap Select (MIDCPNIFTY) sits at ₹13,900. This level represents the point where option writers would incur the smallest aggregate loss, acting as a magnetic anchor that often draws the index toward it as expiration approaches.
Spot vs Max Pain Gap
The spot price of ₹13,562.75 sits 2.43 % below the max‑pain strike, indicating a modest bearish gap. If the index narrows this gap, the pull‑back would tend to be toward the ₹13,900 level rather than further away.
Shift Signal
The max‑pain figure has moved downward by 100 points from the previous day, suggesting that writers have re‑priced their exposure toward a lower strike. Such a downward shift often reflects a collective expectation of continued modest downside pressure or a rebalancing of hedges.
Expiry Context
Max pain is derived from the net open‑interest of all strikes, calculating where the combined payoff of call and put writers is minimized. In the final week before expiry, the index commonly gravitates toward this strike, though market dynamics, news flow, and liquidity can override the tendency. Historically, the last‑minute price action can either confirm the magnetic pull or diverge sharply if external catalysts dominate.
Data Note
With 26 days remaining until the 27‑Oct‑2026 expiry, the spot sits roughly ₹337 below the max‑pain level of ₹13,900.
Data as of 2026-10-01