Glenmark Pharmaceuticals 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 GLENMARK, that strike is ₹2,400. Spot at ₹2,437.2 is 1.55% above max pain — possible downward gravitational pull into expiry.
Max Pain Level
The prevailing strike is ₹2,400, representing the price at which option writers collectively incur the smallest loss. This level often acts as a magnet as expiration approaches, drawing the underlying price toward it.
Spot vs Max Pain Gap
The spot price of ₹2,437.2 sits about 1.55 % above the ₹2,400 level, indicating a modest premium to the theoretical equilibrium. The positive gap suggests that buying pressure may be needed to push the price back toward the magnet, especially if the price sustains above the strike.
Shift Signal
There is no shift in the max‑pain level compared with yesterday, implying that writers have not adjusted their positioning materially. The static stance reflects a steady concentration of open interest around the current strike, with little incentive to move the magnet elsewhere.
Expiry Context
Max pain is derived from the net open interest of both calls and puts; the strike that minimizes the aggregate payout to option holders typically exerts influence during the final week of trading. While history shows a tendency for the underlying to gravitate toward this strike, market dynamics, news flow, or large trades can override the pattern.
Data Note
The spot is roughly ₹37.2 above the max‑pain strike, with 25 days remaining until expiration.
Data as of 2026-09-04