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NMDC Limited

NSE: NMDC · Lot size: 6750

OverviewOption ChainOI AnalysisFII / DIIMax Pain

NMDC Limited Max Pain Analysis

₹88.24Updated 21 Apr 2026, 01:26 pm IST
Max Pain Strike
₹85
Writers' least-loss point
Spot vs Max Pain
+3.81%
Spot ₹88.24
Max Pain Shift
+₹0
vs yesterday
Days to Expiry
7
2026-04-28
2nd Lowest Pain Strike
₹84
₹1 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 NMDC, that strike is ₹85. Spot at ₹88.24 is 3.81% above max pain — possible downward gravitational pull into expiry.

AI AnalysisGenerated daily after market close · AI-powered

Max Pain Level

The max pain strike for NMDC is ₹85, where option sellers experience the least total loss at expiry. As expiry nears, the spot price often gravitates toward this level due to dealer hedging and writer positioning.

Spot vs Max Pain Gap

Spot at ₹88.24 trades 3.81% above the max pain level, suggesting a potential pull downward. This gap implies upward pressure on the spot may ease as time decay benefits out-of-the-money call sellers.

Shift Signal

The max pain level has not shifted from yesterday, remaining at ₹85. Stable positioning indicates option writers are not materially adjusting hedges, reflecting neutral sentiment.

Expiry Bias

NMDC is biased to drift toward ₹85 ahead of expiry, supported by open interest concentration and gamma dynamics. This tendency strengthens if spot enters the ₹85–₹88 range within five days of expiry.

Trader Note

With 7 days to expiry, premium decay strategies are premature—consider them only if daysToExpiry ≤ 5 and spot approaches ₹85–₹86.

Data as of 2026-04-21

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Frequently Asked Questions

What is NMDC Limited max pain today?▾
NMDC Limited's max pain strike is ₹85 for the 2026-04-28 expiry (7 days away). Spot is 3.8% above max pain.
How is max pain calculated for NMDC Limited?▾
NMDC 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 NMDC 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 NMDC Limited. It should be used with other signals, not in isolation.
What happened to NMDC Limited max pain since yesterday?▾
NMDC 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 NMDC Limited options?▾
NMDC 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.