Godfrey Phillips India 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 GODFRYPHLP, that strike is ₹2,100. Spot at ₹2,051 is 2.3% below max pain — possible upward gravitational pull into expiry.
Max Pain Level
The current max‑pain strike for Godfrey Phillips India Limited (GODFRYPHLP) is ₹2,100. Max pain represents the strike at which option writers collectively incur the smallest loss, acting as a magnetic point that the underlying price often gravitates toward as expiration approaches.
Spot vs Max Pain Gap
The market price sits at ₹2,051, roughly 2.33 % below the max‑pain level. This bearish gap suggests that the underlying may be pulled upward toward the ₹2,100 strike, especially if the majority of open interest is concentrated in out‑of‑the‑money puts.
Shift Signal
The max‑pain figure has not shifted from yesterday’s reading, indicating a stable positioning of option writers. A stationary max‑pain line typically reflects that writers have already locked in their risk profile, with little incentive to adjust strikes unless new open interest emerges.
Expiry Context
Max pain emerges from the sum of all open‑interest on calls and puts; as expiry nears, market participants tend to price in the strike that minimizes writer losses, creating a convergence pressure. During the final week of an options cycle, the underlying often oscillates around the max‑pain level, but this is a statistical tendency rather than a deterministic outcome.
Data Note
With a spot‑to‑max‑pain distance of ₹49 and 25 days remaining until the 2026‑09‑29 expiry, the price is relatively close to the magnet point, leaving limited time for a large directional move.
Data as of 2026-09-04