Bajaj Auto Limited Max Pain Analysis

₹11919.00Updated 4 Sept 2026, 03:30 pm IST

Max Pain Strike

₹12000Writers’ least-loss point

Spot vs Max Pain

−0.68%Spot ₹11,919

Max Pain Shift

+₹0vs yesterday

Days to Expiry

232026-09-29

2nd Lowest Pain Strike

₹11900₹100 from max pain

What is Max Pain?

Max Pain theory states the underlying gravitates toward the strike where option writers face minimum collective loss at expiry. For BAJAJ-AUTO, that strike is ₹12,000. Spot at ₹11,919 is near max pain — the expiry magnetic pull is active.

AI AnalysisGenerated daily after market close · AI-powered

Max Pain Level

The current max‑pain strike for Bajaj Auto Limited (BAJAJ‑AUTO) is ₹12,000. This level represents the price at which option writers would incur the smallest aggregate loss, so the open‑interest tends to pull the underlying toward that point as expiry approaches.

Spot vs Max Pain Gap

Spot is trading at ₹11,919, placing it 0.68 % below the max‑pain level. The modest upside gap suggests that the market may experience a gentle pull‑up toward ₹12,000 if sellers of options retain their positions.

Shift Signal

The shift versus yesterday is zero, indicating a stable max‑pain posture. With no change in the pain level, option writers appear content with the current positioning and are not adjusting strikes to a new target.

Expiry Context

Max pain is derived from the net open‑interest in all listed calls and puts, and it signals where the collective payoff for writers is minimized. During the final week of an options series, price action often oscillates around this strike, but the phenomenon is a statistical tendency, not a deterministic outcome.

Data Note

The spot‑to‑max‑pain distance is ₹81 away, with 25 days remaining until the September 29 expiry.

Data as of 2026-09-04

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Frequently Asked Questions

What is Bajaj Auto Limited max pain today?

Bajaj Auto Limited's max pain strike is ₹12,000 for the 2026-09-29 expiry (23 days away). Spot is 0.7% below max pain.

How is max pain calculated for Bajaj Auto Limited?

Bajaj Auto Limited'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 Bajaj Auto Limited 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 Bajaj Auto Limited. It should be used with other signals, not in isolation.

What happened to Bajaj Auto Limited max pain since yesterday?

Bajaj Auto Limited'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 Bajaj Auto Limited options?

Bajaj Auto Limited's next options expiry is on 2026-09-29 — 23 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.