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Kalyan Jewellers India Limited

NSE: KALYANKJIL · Lot size: 1175

OverviewOption ChainOI AnalysisFII / DIIMax Pain

Kalyan Jewellers India Limited Max Pain Analysis

₹417.45Updated 21 Apr 2026, 01:26 pm IST
Max Pain Strike
₹420
Writers' least-loss point
Spot vs Max Pain
-0.61%
Spot ₹417.45
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 KALYANKJIL, that strike is ₹420. Spot at ₹417.45 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 KalyANKJIL is ₹420, where option writers face minimal loss at expiry. This level often acts as a magnet in the final days as market dynamics align to reduce writer liability.

Spot vs Max Pain Gap

The spot price at ₹417.45 trades 0.61% below the max pain level, indicating a slight downward gap. This gap suggests a potential pull toward ₹420 as expiry approaches, driven by open interest concentrations.

Shift Signal

Max pain remains unchanged from yesterday, signaling stable writer positioning around ₹420. The lack of shift reflects balanced sentiment, with no aggressive build-up in new strike dominance.

Expiry Bias

A drift toward ₹420 is expected over the next 7 days, supported by current option structure. The pull strengthens if spot enters within 1% of max pain, particularly inside 5 days to expiry.

Trader Note

With 7 days to expiry, premium decay strategies are premature—consider them only if daysToExpiry ≤ 5 and spot nears ₹420.

Data as of 2026-04-21

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Frequently Asked Questions

What is Kalyan Jewellers India Limited max pain today?▾
Kalyan Jewellers India Limited's max pain strike is ₹420 for the 2026-04-28 expiry (7 days away). Spot is 0.6% below max pain.
How is max pain calculated for Kalyan Jewellers India Limited?▾
Kalyan Jewellers India 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 Kalyan Jewellers India 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 Kalyan Jewellers India Limited. It should be used with other signals, not in isolation.
What happened to Kalyan Jewellers India Limited max pain since yesterday?▾
Kalyan Jewellers India 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 Kalyan Jewellers India Limited options?▾
Kalyan Jewellers India 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.