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DLF Limited

NSE: DLF · Lot size: 825

OverviewOption ChainOI AnalysisFII / DIIMax Pain

DLF Limited Max Pain Analysis

₹608.65Updated 21 Apr 2026, 01:26 pm IST
Max Pain Strike
₹575
Writers' least-loss point
Spot vs Max Pain
+5.85%
Spot ₹608.65
Max Pain Shift
+₹0
vs yesterday
Days to Expiry
7
2026-04-28
2nd Lowest Pain Strike
₹580
₹5 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 DLF, that strike is ₹575. Spot at ₹608.65 is 5.85% above max pain — possible downward gravitational pull into expiry.

AI AnalysisGenerated daily after market close · AI-powered

Max Pain Level

The highest options pain for DLF occurs at ₹575, where the aggregate value of open contracts results in minimal losses for option sellers. This strike often acts as a magnet as expiry approaches, with price tending to drift toward levels that reduce writer liability.

Spot vs Max Pain Gap

DLF's spot price at ₹608.65 sits 5.85% above the ₹575 max pain, indicating a considerable premium over the point of least writer damage. This gap suggests a potential downward pull, as underlying price movement tends to relieve option seller pressure near expiry.

Shift Signal

The max pain level remains unchanged from yesterday, signaling stable positioning among options writers. Persistent alignment at ₹575 reflects sustained writer concentration around this strike.

Expiry Bias

Price drift toward ₹575 is expected as expiry nears, driven by dealer hedging and premium erosion. The bias strengthens as days to expiry drop below five, when gamma and time decay effects intensify.

Trader Note

With 7 days to expiry, premium decay strategies are premature—wait for ≤5 days to consider short premium plays targeting the ₹575 zone.

Data as of 2026-04-21

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Frequently Asked Questions

What is DLF Limited max pain today?▾
DLF Limited's max pain strike is ₹575 for the 2026-04-28 expiry (7 days away). Spot is 5.8% above max pain.
How is max pain calculated for DLF Limited?▾
DLF 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 DLF 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 DLF Limited. It should be used with other signals, not in isolation.
What happened to DLF Limited max pain since yesterday?▾
DLF 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 DLF Limited options?▾
DLF 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.