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 ₹1,972.8 is 2.75% above max pain — possible downward gravitational pull into expiry.
Max Pain Level
The current max‑pain strike for Coforge Limited (COFORGE) is ₹1,920. Max pain represents the strike at which option writers collectively incur the smallest aggregate loss, acting as a magnetic point that often draws the underlying price toward it as expiry approaches.
Spot vs Max Pain Gap
The market price sits at ₹1,972.8, about 2.75 % above the max‑pain level. This positive gap suggests that the spot is still higher than the pain point, indicating potential downward pressure as the market tries to close the distance.
Shift Signal
There is no shift in the max‑pain level compared with the prior day. A stagnant pain strike signals that option writers have not adjusted their positioning, leaving the current set of open interest unchanged and reinforcing the existing magnetic pull.
Expiry Context
Max pain is derived from the net open interest of all out‑of‑the‑money calls and puts, pinpointing the strike where the total payout to option holders is minimized. During the final week before expiry, especially in the last 10‑15 days, the underlying often gravitates toward this strike as market participants hedge and unwind positions, though the outcome is not guaranteed. Historical patterns show that the underlying may oscillate around the pain point, with the final move frequently dictated by short‑term supply‑demand imbalances.
Data Note
The spot price is ₹52.8 above the max‑pain strike, with 25 days remaining until the September 29 expiry.
Data as of 2026-09-04