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MphasiS Limited

NSE: MPHASIS · Lot size: 275

OverviewOption ChainOI AnalysisFII / DIIMax Pain

MphasiS Limited Max Pain Analysis

₹2,429.4Updated 21 Apr 2026, 01:26 pm IST
Max Pain Strike
₹2,350
Writers' least-loss point
Spot vs Max Pain
+3.38%
Spot ₹2,429.4
Max Pain Shift
+₹0
vs yesterday
Days to Expiry
7
2026-04-28
2nd Lowest Pain Strike
₹2,340
₹10 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 MPHASIS, that strike is ₹2,350. Spot at ₹2,429.4 is 3.38% above max pain — possible downward gravitational pull into expiry.

AI AnalysisGenerated daily after market close · AI-powered

Max Pain Level

The highest options pain for MPHASIS occurs at the ₹2350 strike, where option writers face minimal losses at expiry. This level often acts as a magnet in the final days as positions adjust to reduce assignment risk.

Spot vs Max Pain Gap

The spot price at ₹2429.4 trades 3.38% above the max pain level, creating a downward pull toward ₹2350. This gap suggests underlying pressure for price drift lower to align with the least costly settlement point.

Shift Signal

The max pain level remains unchanged from yesterday, indicating stable writer positioning around ₹2350. Persistent alignment at this strike reflects consistent hedging behavior in the options structure.

Expiry Bias

Drift toward ₹2350 is expected as expiry approaches, supported by structural positioning in open interest. The pull strengthens as time decays, especially within the final five trading days.

Trader Note

With seven days to expiry, premium decay strategies are premature; wait until daysToExpiry ≤ 5 for optimal short premium setups near ₹2350.

Data as of 2026-04-21

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Frequently Asked Questions

What is MphasiS Limited max pain today?▾
MphasiS Limited's max pain strike is ₹2,350 for the 2026-04-28 expiry (7 days away). Spot is 3.4% above max pain.
How is max pain calculated for MphasiS Limited?▾
MphasiS 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 MphasiS 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 MphasiS Limited. It should be used with other signals, not in isolation.
What happened to MphasiS Limited max pain since yesterday?▾
MphasiS 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 MphasiS Limited options?▾
MphasiS 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.