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Exide Industries Limited

NSE: EXIDEINDAutomobile and Auto ComponentsLot size: 1800

Exide Industries Limited Max Pain Analysis

₹424.35+0.32%Updated 4 Sept 2026, 03:30 pm IST
Max Pain Strike
₹400Writers’ least-loss point
Spot vs Max Pain
+5.51%Spot ₹424.35
Max Pain Shift
−₹8vs yesterday
Days to Expiry
02026-07-28
2nd Lowest Pain Strike
₹403₹3 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 EXIDEIND, that strike is ₹400. Spot at ₹424.35 is 5.51% above max pain — possible downward gravitational pull into expiry.

AI AnalysisGenerated daily after market close · AI-powered

Thinking Process:

  1. Analyze the Request:

    • Role: Derivatives Analyst.
    • Topic: Max Pain analysis for Exide Industries Limited (EXIDEIND).
    • Date: 2026-07-28 (Expiry Day).
    • Word Limit: Maximum 220 words.
    • Input Data:
      • Spot: ₹422.05
      • Expiry: 2026-07-28 (0 days)
      • Max Pain: ₹400
      • Shift vs yesterday: -7.5
      • Spot vs Max Pain: +5.51%
      • Second-lowest pain: ₹402.5
    • Structure: Five specific H2 sections (## Max Pain Level, ## Spot vs Max Pain Gap, ## Shift Signal, ## Expiry Context, ## Data Note).
    • Specific Constraints:
      • 2 sentences per section (except Data Note which is 1 sentence).
      • Explain mechanics factually.
      • Note max pain is tendency not guarantee.
      • No buy/sell recommendations.
      • Present tense.
      • Name "EXIDEIND" max 2 times.

  2. Drafting - Section by Section:

    • ## Max Pain Level

      • Constraint: 2 sentences.
      • Content: Strike (₹400) + definition (writer loss minimization, magnet).
      • Draft: The current Max Pain level for EXIDEIND sits at ₹400, representing the strike price where option writers face the least financial loss. This level often acts as a magnetic point for the underlying asset price as time decay accelerates toward settlement.

    • ## Spot vs Max Pain Gap

      • Constraint: 2 sentences.
      • Content: Gap direction (+5.51%) + pull implication.
      • Draft: Spot trades at ₹422.05, positioning the market 5.51% above the pain threshold. Such a premium suggests potential downward pressure exists to test lower strikes before the market closes.

    • ## Shift Signal

      • Constraint: 2 sentences.
      • Content: Shift direction (-7.5) + writer positioning.
      • Draft: Yesterday’s shift of -7.5 indicates option writers have adjusted positions to favor lower strikes in anticipation of expiry volatility. This movement aligns with a bearish bias as open interest concentrates closer to the current spot price.

    • ## Expiry Context

      • Constraint:

Data as of 2026-07-28

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Frequently Asked Questions

What is Exide Industries Limited max pain today?
Exide Industries Limited's max pain strike is ₹400 for the 2026-07-28 expiry (0 days away). Spot is 5.5% above max pain.
How is max pain calculated for Exide Industries Limited?
Exide Industries 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 Exide Industries 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 Exide Industries Limited. It should be used with other signals, not in isolation.
What happened to Exide Industries Limited max pain since yesterday?
Exide Industries Limited's max pain shifted down by ₹8 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 Exide Industries Limited options?
Exide Industries Limited's next options expiry is on 2026-07-28 — 0 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.