Coforge 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 COFORGE, that strike is ₹1,920. Spot at ₹1,961.9 is 2.18% above max pain — possible downward gravitational pull into expiry.
Max Pain Level
The options market shows a max‑pain strike at ₹1,920 for COFORGE. This is the price at which option writers would incur the smallest aggregate loss, acting as a magnet as expiry approaches.
Spot vs Max Pain Gap
The current spot of ₹1,961.9 sits about 2.18 % above the max‑pain level, indicating a mild upward bias. If the price pulls back toward ₹1,920, writers stand to benefit from the narrowing gap.
Shift Signal
The max‑pain figure has moved up +60 points from yesterday, suggesting that writers are now more comfortable with a slightly higher underlying price. This upward shift hints at a market tilt toward higher strikes.
Expiry Context
Max pain is derived from aggregating open interest in calls and puts; the strike that minimizes total writer loss becomes the “pain point.” In the final week before expiry, prices often gravitate toward this level, but the tendency is not a certainty.
Data Note
With 26 days left to expiry, the spot price sits roughly ₹42 above the max‑pain strike.
Data as of 2026-10-28