CG Power and Industrial Solutions 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 CGPOWER, that strike is ₹920. Spot at ₹912 is near max pain — the expiry magnetic pull is active.
Max Pain Level
The strike where option writers incur the smallest aggregate loss is ₹920. This level acts as a magnetic point that often draws the underlying price as expiry approaches.
Spot vs Max Pain Gap
The spot price of ₹912 sits 0.87 % below the max‑pain strike, indicating a slight downward bias. A pull‑back toward ₹920 would narrow the gap and align the market with the loss‑minimizing zone.
Shift Signal
There is no shift in the max‑pain level from yesterday, showing that writers have not altered their positioning. Stable positioning reinforces the expectation that the underlying may gravitate toward the existing strike.
Expiry Context
Max‑pain theory assumes that the concentration of open interest at a particular strike will influence price movement in the days leading to expiry. While this tendency often manifests during the final week, it remains a probabilistic guide rather than a certainty.
Data Note
With six days remaining until the 2026‑07‑28 expiry, the current spot is ₹8 below the max‑pain level.
Data as of 2026-07-22