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 ₹840. Spot at ₹832.3 is near max pain — the expiry magnetic pull is active.
Max Pain Level
The market’s most painful strike for CGPOWER sits at ₹840, the level where option writers would collectively incur the smallest loss if all contracts expired worthless. This figure acts as a magnetic point that often draws price action as expiry approaches.
Spot vs Max Pain Gap
The current spot price of ₹832.3 sits about 0.92 % below the pain point, indicating a modest gap that could be closed if buying pressure intensifies. A narrowing of this spread would typically suggest that the underlying is being pulled toward the strike as traders hedge or roll positions.
Shift Signal
The pain level has moved down by ₹10 from the previous day, implying that writers have adjusted their exposure toward a lower strike. Such a downward shift often reflects a sentiment that the underlying may struggle to climb higher in the near term.
Expiry Context
As the November 23 expiry draws near, option writers aim to steer the underlying toward the least‑painful strike, making the identified level a focal point for trading activity. Nonetheless, this is a statistical tendency rather than a deterministic outcome, and actual price movement may diverge.
Data Note
With 26 days left until expiry, the spot sits roughly ₹8 below the identified strike.
Data as of 2026-10-28