Info Edge (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 NAUKRI, that strike is ₹1,340. Spot at ₹1,319.8 is 1.5% below max pain — possible upward gravitational pull into expiry.
Max Pain Level
The options market for Info Edge (India) Limited (NAUKRI) is centering on the ₹1,340 strike, which is identified as the max‑pain point. Max pain represents the strike at which option writers would incur the smallest aggregate loss, acting as a magnet that often pulls the underlying price toward it as expiry approaches.
Spot vs Max Pain Gap
The spot price of ₹1,319.8 sits about 1.5 % below the max‑pain level, indicating a modest upside pull‑back potential if the market moves toward the pain point. This gap suggests that, all else equal, the underlying may drift upward to close the distance, though the movement is not forced.
Shift Signal
There is no shift in the max‑pain level versus the previous day, signalling that the writer’s positioning has remained stable. The unchanged strike implies that the aggregate open interest on both calls and puts continues to reinforce the ₹1,340 magnet without new directional bias.
Expiry Context
Max pain is calculated by aggregating the notional exposure of all outstanding options and identifying the strike that minimizes total writer losses at expiry. In the final week before expiration, it is common to see the underlying price gravitate toward this level, as market participants adjust positions to avoid costly unwinding. However, the phenomenon remains a statistical tendency, not a deterministic outcome, and external drivers can override it.
Data Note
The spot price sits roughly ₹20.2 below the max‑pain strike, with 25 days remaining until the September 29 expiry.
Data as of 2026-09-04