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NIFTY 50

NSE: NIFTY · Lot size: 75 · Weekly Thursday expiry

OverviewOption ChainOI AnalysisMax Pain

NIFTY 50 Max Pain Today

₹24,097.9Updated 27 Apr 2026, 10:00 am IST
Max Pain Strike
24,050
Writers' least-loss point
Spot vs Max Pain
+0.2%
Spot 24,098
Max Pain Shift
+0
vs yesterday
Days to Expiry
1
2026-04-28
2nd Lowest Pain Strike
24,000
50 points from max pain

What is NIFTY Max Pain?

Max Pain theory states NIFTY 50 gravitates toward the strike where option writers face minimum collective loss at expiry. Today that strike is 24,050. Spot at 24,098 is near max pain — expiry magnetic pull is active.

AI AnalysisGenerated daily after market close · AI-powered

Max Pain Level

The NIFTY 50’s max pain sits at ₹24,050, the strike where option sellers incur the least total loss at expiry. As expiry nears, this level often acts as a magnet, pulling spot price to minimize aggregate writer payouts.

Spot vs Max Pain Gap

The index trades ₹47.9 above max pain, a +0.2% gap tilted upward. This slight premium suggests mild upward pressure, with spot likely drawn downward toward ₹24,050 ahead of settlement.

Shift Signal

Max pain is unchanged from yesterday, reflecting balanced shifts in open interest. Stable pain indicates option writers aren’t adjusting strikes aggressively, maintaining concentration around ₹24,050 and ₹24,000.

Expiry Bias

With just one day left, the index is expected to drift toward ₹24,050, driven by dealer hedging and gamma effects. This pull strengthens as expiry approaches, especially within the final five days.

Trader Note

With near-term expiry, premium decay strategies like credit spreads or iron condors may offer edge, but only if leveraging time erosion within five days.

Data as of 2026-04-27

Frequently Asked Questions

What is NIFTY 50 max pain today?▾
NIFTY 50's max pain strike is ₹24,050 for the 2026-04-28 expiry (1 days away). Spot is 0.2% above max pain.
How is max pain calculated for NIFTY 50?▾
NIFTY 50'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 50 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 50. It should be used with other signals, not in isolation.
What happened to NIFTY 50 max pain since yesterday?▾
NIFTY 50'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 50 options?▾
NIFTY 50'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.