Multi Commodity Exchange of India Limited Max Pain Analysis

Multi Commodity Exchange of India Limited's max pain strike is ₹3,000 for the 2026-06-30 expiry (23 days away). Spot is 7.0% below max pain.

Multi Commodity Exchange of 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.

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 Multi Commodity Exchange of India Limited. It should be used with other signals, not in isolation.

Multi Commodity Exchange of 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.

Multi Commodity Exchange of India Limited's next options expiry is on 2026-06-30 — 23 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.