Adani Green Energy Limited Max Pain Analysis
What is Max Pain?
Max Pain theory states the underlying gravitates toward the strike where option writers face minimum collective loss at expiry. For ADANIGREEN, that strike is ₹1,300. Spot at ₹1,269 is 2.4% below max pain — possible upward gravitational pull into expiry.
Max Pain Level
The current max‑pain strike for ADANIGREEN is ₹1,300. This is the price level where option writers (primarily sellers of calls and puts) would incur the smallest aggregate loss, so the market often gravitates toward it as expiry approaches.
Spot vs Max Pain Gap
The spot price sits at ₹1,269, about 2.38 % below the max‑pain level. The downward gap suggests that the underlying may still need upward pressure to bridge the distance, implying a potential pull‑up as the expiration date nears.
Shift Signal
There is no shift in the max‑pain strike from yesterday, indicating that option writers have not altered their positioning and are maintaining a steady outlook for the current 1,300 level.
Expiry Context
Max pain is derived from the aggregate open interest of all strikes; as expiry (2026‑11‑23) draws nearer, market participants often see price action gravitate toward the strike that minimizes writer loss. However, this is a statistical tendency—not a deterministic rule—so actual price movement can diverge, especially in volatile market conditions.
Data Note
With 26 days remaining, the spot is ₹31 away from the max‑pain strike of ₹1,300.
Data as of 2026-10-28