Bank of India Max Pain Analysis

₹145.00Updated 4 Sept 2026, 03:30 pm IST

Max Pain Strike

₹145Writers’ least-loss point

Spot vs Max Pain

+0.00%Spot ₹145

Max Pain Shift

+₹0vs yesterday

Days to Expiry

232026-09-29

2nd Lowest Pain Strike

₹143₹3 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 BANKINDIA, that strike is ₹145. Spot at ₹145 is near max pain — the expiry magnetic pull is active.

AI AnalysisGenerated daily after market close · AI-powered

Max Pain Level

The options market’s “max pain” point for Bank of India (BANKINDIA) sits at the ₹145 strike. This level represents the price at which option writers collectively incur the smallest total loss, acting like a magnet as expiry approaches.

Spot vs Max Pain Gap

The spot price is exactly ₹145, matching the max‑pain strike, so the gap is neutral. With no divergence, there is little immediate pull pressure from either side of the market.

Shift Signal

The max‑pain level shows no shift from the previous day, indicating that option writers have not adjusted their positioning. Stability suggests that the majority of open interest remains concentrated around the ₹145 strike.

Expiry Context

As the September 29 expiry nears (25 days away), the market tends to gravitate toward the max‑pain strike because un‑exercised options expire worthless, minimizing writers’ payouts. However, this is a statistical tendency; actual price movement can deviate due to news, liquidity, or broader market forces.

Data Note

The spot price aligns perfectly with the max‑pain level, and 25 days remain until expiry.

Data as of 2026-09-04

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Frequently Asked Questions

What is Bank of India max pain today?

Bank of India's max pain strike is ₹145 for the 2026-09-29 expiry (23 days away). Spot is 0.0% above max pain.

How is max pain calculated for Bank of India?

Bank of India'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 Bank of India 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 Bank of India. It should be used with other signals, not in isolation.

What happened to Bank of India max pain since yesterday?

Bank of India'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 Bank of India options?

Bank of India'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.