Infosys 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 INFY, that strike is ₹1,140. Spot at ₹1,123.15 is 1.5% below max pain — possible upward gravitational pull into expiry.
Max Pain Level
The current max‑pain strike for Infosys Limited sits at ₹1,140. This is the price level where option writers would incur the smallest aggregate loss, often acting as a magnetic point as expiry approaches.
Spot vs Max Pain Gap
The spot price of ₹1,123.15 trades about 1.48 % below the max‑pain level, indicating a modest upside pull toward the strike. The gap suggests that the market is still short of the magnet, leaving room for upward pressure as the expiration date draws nearer.
Shift Signal
The max‑pain figure has moved upward by ₹80 from the previous day, a bullish shift that signals option writers may be rebalancing their short positions toward higher strikes. This upward drift typically reflects an environment where call writers are adding protection or call buyers are increasing demand, nudging the pain point higher.
Expiry Context
Max pain arises from the aggregation of open‑interest across all strikes; at expiry, the settlement price that minimizes the total loss for writers becomes the magnet. In the final week before expiration, market participants often gravitate toward this level, though it remains a statistical tendency rather than a deterministic outcome. Traders watch the convergence of spot and max‑pain as an indicator of potential price clustering.
Data Note
With 26 days left until the 23‑Nov‑2026 expiry, the spot is ₹16.85 below the current max‑pain strike.
Data as of 2026-10-28