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 ₹880. Spot at ₹891 is 1.25% above max pain — possible downward gravitational pull into expiry.
Max Pain Level
The current max‑pain strike for CG Power and Industrial Solutions Limited (CGPOWER) sits at ₹880. Max pain is the strike at which the aggregate loss of option writers—both calls and puts—is minimized, acting as a magnet that often draws the underlying price toward it as expiration approaches.
Spot vs Max Pain Gap
The spot price of ₹891 sits ~1.25 % above the max‑pain level, indicating a slight premium over the “pain” point. This upward gap suggests that any pull‑back toward ₹880 could be experienced as a modest correction rather than a sharp move, given the relatively small distance.
Shift Signal
The shift metric shows no change from yesterday, implying that the max‑pain strike has remained static and that option writers have not altered their positioning materially. Stability in the shift hints that the current writer‑generated open interest is still centered around the ₹880 strike, reinforcing the magnet effect.
Expiry Context
Max pain materializes from the aggregation of open‑interest across all strikes; as the expiration date of 2026‑09‑29 (25 days out) draws nearer, the price often gravitates toward the pain point due to hedging activity and the unwinding of positions. Nevertheless, this tendency is not a guarantee—market sentiment, news flow, or unexpected volatility can override the pull. In the final week before expiry, the concentration of open interest typically intensifies, making the max‑pain strike a more prominent reference for market participants.
Data Note
Today the spot is ₹891, roughly ₹11 above the max‑pain strike, with 25 days remaining until expiry.
Data as of 2026-09-04