Bajaj Holdings & Investment 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 BAJAJHLDNG, that strike is ₹10,500. Spot at ₹10,424 is near max pain — the expiry magnetic pull is active.
Max Pain Level
The critical strike sits at ₹10,500, which is where option writers collectively stand to incur the smallest aggregate loss if the underlying closes at that price. This level often acts like a magnet as expiry approaches, drawing price action toward it.
Spot vs Max Pain Gap
The spot price of ₹10,424 is about 0.72 % below the ₹10,500 strike, indicating a modest upside pull toward the magnet point. Should the market trend upward, the gap narrows, reinforcing the pull‑back tendency.
Shift Signal
There is no shift from yesterday, suggesting that open interest remains evenly distributed around the key strike. Writers appear balanced, with neither side aggressively repositioning.
Expiry Context
In the final week, option writers tend to hedge their positions, which can create pressure on the underlying to settle near the identified strike. Although this behavior commonly surfaces, it remains a statistical tendency rather than a certainty.
Data Note
With six days left until expiry, the spot sits just ₹76 below the critical level.
Data as of 2026-07-22