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Dixon Technologies (India) Limited

NSE: DIXON · Lot size: 50

OverviewOption ChainOI AnalysisFII / DIIMax Pain

Dixon Technologies (India) Limited Max Pain Analysis

₹11,311Updated 21 Apr 2026, 01:26 pm IST
Max Pain Strike
₹10,600
Writers' least-loss point
Spot vs Max Pain
+6.71%
Spot ₹11,311
Max Pain Shift
+₹0
vs yesterday
Days to Expiry
7
2026-04-28
2nd Lowest Pain Strike
₹10,500
₹100 from max pain

What is Max Pain?

Max Pain theory states the underlying gravitates toward the strike where option writers face minimum collective loss at expiry. For DIXON, that strike is ₹10,600. Spot at ₹11,311 is 6.71% above max pain — possible downward gravitational pull into expiry.

AI AnalysisGenerated daily after market close · AI-powered

Max Pain Level

The maximum pain strike for DIXON options expiring on 2026-04-28 is ₹10600, where the aggregate value of outstanding puts and calls is minimized. This reflects the price at which option writers suffer the least collective loss, often acting as a magnet as expiry nears.

Spot vs Max Pain Gap

The spot price at ₹11311 is 6.71% above the ₹10600 max pain level, indicating a significant premium gap. Such a gap may draw downward pressure on the spot as writers benefit from depreciation toward the pain point.

Shift Signal

The max pain level remains unchanged from yesterday, showing no shift in the concentration of writer liability. Stable positioning suggests option sellers are confident and not adjusting hedges aggressively.

Expiry Bias

With spot trading above the highest pain cluster, a downward drift toward ₹10600 is favored in the final days. However, the pull strengthens only within the last five trading sessions, when gamma effects and dealer hedging rise.

Trader Note

With 7 days to expiry, premium decay strategies are not yet optimal—wait until daysToExpiry ≤ 5 before initiating short premium trades near ₹10600.

Data as of 2026-04-21

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Frequently Asked Questions

What is Dixon Technologies (India) Limited max pain today?▾
Dixon Technologies (India) Limited's max pain strike is ₹10,600 for the 2026-04-28 expiry (7 days away). Spot is 6.7% above max pain.
How is max pain calculated for Dixon Technologies (India) Limited?▾
Dixon Technologies (India) Limited's max pain is calculated by taking every possible expiry price and computing the total ITM payout to all option buyers: sum of (CE OI × max(0, spot − strike)) + (PE OI × max(0, strike − spot)) for all strikes. The strike with the minimum total payout is the max pain — where option writers collectively lose the least.
Does max pain predict Dixon Technologies (India) Limited expiry price?▾
Max pain theory suggests the underlying tends to gravitate toward the max pain strike as expiry approaches, because option writers (who have the capital and hedging ability) can influence spot price. It's more reliable within 1 week of expiry and for liquid stocks like Dixon Technologies (India) Limited. It should be used with other signals, not in isolation.
What happened to Dixon Technologies (India) Limited max pain since yesterday?▾
Dixon Technologies (India) Limited's max pain is unchanged from the previous session. Max pain shifts indicate that option writers are adjusting their positions — a rising max pain is modestly bullish; falling is modestly bearish.
What is the next expiry for Dixon Technologies (India) Limited options?▾
Dixon Technologies (India) Limited's next options expiry is on 2026-04-28 — 7 days away. NSE F&O stocks have monthly expiry on the last Tuesday of each month. As expiry approaches, gamma risk increases and max pain becomes a stronger gravitational force.