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Indus Towers Limited

NSE: INDUSTOWER · Lot size: 1700

OverviewOption ChainOI AnalysisFII / DIIMax Pain

Indus Towers Limited Max Pain Analysis

₹417.85Updated 21 Apr 2026, 01:26 pm IST
Max Pain Strike
₹420
Writers' least-loss point
Spot vs Max Pain
-0.51%
Spot ₹417.85
Max Pain Shift
+₹0
vs yesterday
Days to Expiry
7
2026-04-28
2nd Lowest Pain Strike
₹425
₹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 INDUSTOWER, that strike is ₹420. Spot at ₹417.85 is near max pain — the expiry magnetic pull is active.

AI AnalysisGenerated daily after market close · AI-powered

Max Pain Level

The max pain strike for Indus Towers Limited is ₹420, where option writer losses are minimized. As expiry approaches, the spot price often gravitates toward this level to maximize worthless options expiry.

Spot vs Max Pain Gap

Spot trades at ₹417.85, 0.51% below the ₹420 max pain, indicating a slight upward pull. With spot below the max pain, gentle upward drift may occur to reduce in-the-money calls and puts expiring with value.

Shift Signal

The max pain level remains unchanged from yesterday, signaling stable writer positioning. Horizontal movement suggests no aggressive shifts in open interest concentration near expiry.

Expiry Bias

A mild bias toward ₹420 is present, supported by writer exposure concentration. The pull strengthens as expiry draws nearer, especially inside five days, when gamma effects and dealer hedging intensify.

Trader Note

With 7 days to expiry, focus on premium decay strategies only if the calendar window shortens to ≤5 days and spot nears ₹420.

Data as of 2026-04-21

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Frequently Asked Questions

What is Indus Towers Limited max pain today?▾
Indus Towers Limited's max pain strike is ₹420 for the 2026-04-28 expiry (7 days away). Spot is 0.5% below max pain.
How is max pain calculated for Indus Towers Limited?▾
Indus Towers 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 Indus Towers 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 Indus Towers Limited. It should be used with other signals, not in isolation.
What happened to Indus Towers Limited max pain since yesterday?▾
Indus Towers 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 Indus Towers Limited options?▾
Indus Towers 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.