Adani Ports and Special Economic Zone 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 ADANIPORTS, that strike is ₹1,700. Spot at ₹1,707.3 is near max pain — the expiry magnetic pull is active.
Max Pain Level
The current max‑pain strike for ADANIPORTS is ₹1,700, the level where option writers would incur the smallest aggregate loss if the underlying settled there at expiry. This price acts as a magnet for the underlying as the September 29 expiry approaches.
Spot vs Max Pain Gap
The spot price of ₹1,707.3 sits just above the max‑pain level, creating a modest upside gap of +0.43 %. The market may experience a gentle pull‑back toward ₹1,700 as the expiration date draws near.
Shift Signal
There is no shift in the max‑pain level compared with yesterday, indicating that option writers have not moved their positioning materially. Stability in the pain point suggests continued neutral sentiment among option sellers.
Expiry Context
Max pain reflects the aggregate of open interest in puts and calls, guiding the price toward the strike that minimizes writers’ payouts. In the week of expiry, the underlying often gravitates toward this strike, though it remains a statistical tendency rather than a certainty.
Data Note
The spot price is 7.3 ₹ away from the max‑pain level with 25 days remaining until expiry.
Data as of 2026-09-04