Persistent Systems 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 PERSISTENT, that strike is ₹5,700. Spot at ₹5,848 is 2.6% above max pain — possible downward gravitational pull into expiry.
Max Pain Level
The theoretical “max pain” strike for Persistent Systems Limited sits at ₹5700. This is the price where option writers would incur the smallest aggregate loss, acting as a magnet as expiry approaches.
Spot vs Max Pain Gap
The underlying trades at ₹5848, a modest 2.6 % above the max‑pain level, indicating the market is still favorably priced for option holders. The gap suggests limited upside pull‑back pressure toward the magnetic strike.
Shift Signal
The max‑pain figure has moved upward by 100 points from yesterday, signaling that writers are now more concentrated at higher strikes. This upward shift reflects a positioning bias that may cushion the spot from a sharp drop.
Expiry Context
Max pain is derived from the net OI of calls and puts, estimating where the combined writer loss is minimized as the contracts mature. Historically, the week preceding expiry often sees the spot gravitating toward this level, but the effect is a tendency, not a certainty.
Data Note
The spot sits about ₹148 above the max‑pain strike with 26 days remaining until the November 23 expiry.
Data as of 2026-10-28