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 ₹11,200. Spot at ₹11,162 is near max pain — the expiry magnetic pull is active.
Max Pain Level
The max‑pain strike for BAJAJHLDNG is ₹11,200. This price point represents where option writers would incur the smallest combined loss across all outstanding calls and puts, acting as a magnetic zone as expiry approaches.
Spot vs Max Pain Gap
The spot price of ₹11,162 sits 0.34 % below the max‑pain level, indicating a modest pull‑back toward that strike. The narrowing gap suggests limited upward pressure on the underlying as the market gravitates toward the pain point.
Shift Signal
The max‑pain level shows no shift from yesterday, implying that option writers have kept their positioning unchanged. A stable pain strike signals that the open‑interest distribution remains balanced, with no new directional bias evident.
Expiry Context
Max pain is derived from aggregating open‑interest across all strikes; as expiry nears, price tends to gravitate toward the strike that minimizes writers’ total loss. In the final week of an options series, the underlying often trades within a tight range around this level, though the outcome is not guaranteed and can be overridden by strong fundamentals or news flow.
Data Note
The spot sits just ₹38 below the max‑pain strike, with 25 days remaining until the September 29 expiry.
Data as of 2026-09-04