Apollo Hospitals Enterprise 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 APOLLOHOSP, that strike is ₹8,850. Spot at ₹8,939 is 1.01% above max pain — possible downward gravitational pull into expiry.
Max Pain Level
The calculated max‑pain strike for APOLLOHOSP is ₹8,850, the level at which option writers would incur the smallest aggregate loss if all options expired worthless. This price often acts as a magnetic point that draws the underlying toward it as expiry approaches.
Spot vs Max Pain Gap
The current spot price of ₹8,939 sits about 1.01 % above the max‑pain level, creating a modest upside gap. Such a gap typically fuels a pull‑back pressure, nudging the stock toward the ₹8,850 region.
Shift Signal
The shift metric is unchanged from the previous day, indicating a neutral stance with no evident movement in the underlying option‑writer positioning. Consequently, the open‑interest distribution remains stable, reinforcing the existing max‑pain balance.
Expiry Context
Max pain reflects the strike where the aggregate premium paid on calls and puts yields the lowest loss for writers, and it often becomes a focal point during the final week of an options cycle. While this tendency can influence price dynamics, it is not a deterministic guarantee of where the market will close.
Data Note
The spot price is ₹89 above the
Data as of 2026-07-22