Tata Motors Passenger Vehicles Limited Max Pain Analysis

₹263.60Updated 28 Oct 2026, 03:30 pm IST

Max Pain Strike

₹275Writers’ least-loss point

Spot vs Max Pain

−4.15%Spot ₹263.6

Max Pain Shift

−₹10vs yesterday

Days to Expiry

262026-11-23

2nd Lowest Pain Strike

₹280₹5 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 TMPV, that strike is ₹275. Spot at ₹263.6 is 4.2% below max pain — possible upward gravitational pull into expiry.

AI AnalysisGenerated daily after market close · AI-powered

Max Pain Level

The strike where option writers would incur the smallest aggregate loss sits at ₹275. This level acts as a magnetic point that can attract the underlying price as expiry approaches, because writers benefit from the convergence of spot and their short positions.

Spot vs Max Pain Gap

The current spot of ₹263.6 sits about 4.15 % below the ₹275 pain point, indicating a modest upside pull‑back pressure. Should market participants favor a rally, the gap may narrow as the underlying gravitates toward the pain zone.

Shift Signal

The pain level has moved downward by 10 points from yesterday, suggesting that option writers have recently re‑positioned their short strikes lower, perhaps in response to recent bearish sentiment. This downward shift can reinforce support around the new pain tier, potentially anchoring price action nearer to the revised level.

Expiry Context

Max pain reflects the aggregate strike where option writers face the least loss, derived from the open interest of both calls and puts. In the week preceding expiry, it often becomes a reference point, but it remains a tendency rather than a deterministic outcome; market forces, news flow, and liquidity can still drive the spot away from this zone.

Data Note

With 26 days left until the November 23 expiry, the spot sits roughly ₹11.4 below the current pain point.

Data as of 2026-10-28

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Frequently Asked Questions

What is Tata Motors Passenger Vehicles Limited max pain today?

Tata Motors Passenger Vehicles Limited's max pain strike is ₹275 for the 2026-11-23 expiry (26 days away). Spot is 4.2% below max pain.

How is max pain calculated for Tata Motors Passenger Vehicles Limited?

Tata Motors Passenger Vehicles 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 Tata Motors Passenger Vehicles 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 Tata Motors Passenger Vehicles Limited. It should be used with other signals, not in isolation.

What happened to Tata Motors Passenger Vehicles Limited max pain since yesterday?

Tata Motors Passenger Vehicles Limited's max pain shifted down by ₹10 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 Tata Motors Passenger Vehicles Limited options?

Tata Motors Passenger Vehicles Limited's next options expiry is on 2026-11-23 — 26 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.