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FSN E-Commerce Ventures Limited

NSE: NYKAA · Lot size: 3125

OverviewOption ChainOI AnalysisFII / DIIMax Pain

FSN E-Commerce Ventures Limited Max Pain Analysis

₹265.99Updated 21 Apr 2026, 01:26 pm IST
Max Pain Strike
₹255
Writers' least-loss point
Spot vs Max Pain
+4.31%
Spot ₹265.99
Max Pain Shift
+₹0
vs yesterday
Days to Expiry
7
2026-04-28
2nd Lowest Pain Strike
₹258
₹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 NYKAA, that strike is ₹255. Spot at ₹265.99 is 4.31% 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 NYKAA is ₹255, where option sellers experience minimal losses at expiry. This level acts as a magnet in the final days, as market dynamics favor conditions that reduce writer liability.

Spot vs Max Pain Gap

The spot price of ₹265.99 sits 4.31% above the max pain level, creating an upward gap. This suggests a potential downward pull toward ₹255, especially as expiry-linked positioning exerts influence.

Shift Signal

The max pain value is unchanged from yesterday, indicating stable writer positioning around ₹255. Persistent alignment at this strike reflects consistent concentration of open interest in call and put obligations.

Expiry Bias

A mild bias toward downward drift is expected to close the gap to ₹255, supported by option-induced selling pressure. However, this tendency strengthens only within five days of expiry, making early moves less reliable.

Trader Note

With 7 days to expiry, premium decay strategies are premature—focus shifts to short premium setups only if daysToExpiry ≤ 5 and price stalls near strikes.

Data as of 2026-04-21

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Frequently Asked Questions

What is FSN E-Commerce Ventures Limited max pain today?▾
FSN E-Commerce Ventures Limited's max pain strike is ₹255 for the 2026-04-28 expiry (7 days away). Spot is 4.3% above max pain.
How is max pain calculated for FSN E-Commerce Ventures Limited?▾
FSN E-Commerce Ventures 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 FSN E-Commerce Ventures 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 FSN E-Commerce Ventures Limited. It should be used with other signals, not in isolation.
What happened to FSN E-Commerce Ventures Limited max pain since yesterday?▾
FSN E-Commerce Ventures 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 FSN E-Commerce Ventures Limited options?▾
FSN E-Commerce Ventures 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.