Container Corporation of India 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 CONCOR, that strike is ₹420. Spot at ₹418 is near max pain — the expiry magnetic pull is active.
Max Pain Level
The theoretical loss‑minimising strike for CONCOR options sits at ₹420. At this strike, option writers would incur the smallest aggregate loss as contracts converge toward expiry, making it a magnet for price action in the final weeks.
Spot vs Max Pain Gap
The underlying is trading at ₹418, just 2 points below the ₹420 loss‑minimising level, a gap of –0.48 %. This slight negative bias suggests the market may be pulled upward toward the magnet as the expiration date approaches.
Shift Signal
The shift indicator moved –35 points from the prior day, implying that writers are re‑positioning toward lower strikes. Such a downward adjustment typically reflects expectation of a softer rally or heightened demand for protective puts at the lower strikes.
Expiry Context
As the November 23 expiry draws nearer, the loss‑minimising strike tends to exert stronger influence on the underlying, especially during the last week when open interest converges. Nonetheless, this is a statistical tendency—not a certainty—so actual price movements may diverge based on broader market drivers.
Data Note
The spot price sits just 2 points beneath the loss‑minimising level with 26 days remaining until expiration.
Data as of 2026-10-28