Page Industries 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 PAGEIND, that strike is ₹40,000. Spot at ₹39,780 is near max pain — the expiry magnetic pull is active.
Max Pain Level
The critical strike for Page Industries Limited is ₹40,000. This level represents where option writers, on average, would incur the smallest combined loss as expiration approaches.
Spot vs Max Pain Gap
The market price sits at ₹39,780, marginally below the ₹40,000 mark, creating a modest 0.55 % gap. Such a narrow distance suggests limited pull‑back pressure, as the spot is already near the convergence point.
Shift Signal
There is no shift relative to the previous day, indicating that the positioning of option writers has remained stable. A static stance often reflects a balanced supply‑demand dynamic in the options chain.
Expiry Context
As the contract expires on July 28, the underlying price often drifts toward the convergence level, driven by the collective hedging actions of writers. Nonetheless, this tendency does not guarantee the outcome; market forces can still divert the price away from the target.
Data Note
With only six days left to expiry, the spot is just ₹220 away from the convergence level.
Data as of 2026-07-22