Torrent Power Limited

NSE: TORNTPOWER · Power · Lot size: 425

OverviewOption ChainOI AnalysisFII / DIIMax Pain

Torrent Power Limited Max Pain Analysis

₹1,701.7Updated 30 Apr 2026, 06:00 am IST
Max Pain Strike
₹1,620
Writers' least-loss point
Spot vs Max Pain
+11.04%
Spot ₹1,701.7
Max Pain Shift
₹-20
vs yesterday
Days to Expiry
0
2026-04-28
2nd Lowest Pain Strike
₹1,630
₹10 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 TORNTPOWER, that strike is ₹1,620. Spot at ₹1,701.7 is 11.04% 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 Torrent Power Limited is ₹1620, where option writers face minimal losses at expiry. Max pain acts as a magnet in the final days, reflecting the price point that minimizes total option value owed.

Spot vs Max Pain Gap

The spot price of ₹1798.9 trades 11.04% above max pain, creating substantial downward pressure. This wide gap suggests a pull toward ₹1620 if market conditions align with writer positioning.

Shift Signal

Max pain dropped by ₹20 from yesterday, signaling increased writer concentration at lower strikes. This downward shift reveals fresh short call and short put stacking below the current spot.

Expiry Bias

With max pain below spot and trending lower, the bias favors a downward drift in price as expiry approaches. The pull strengthens notably within five trading days, when gamma effects amplify.

Trader Note

With zero days to expiry, focus on premium decay strategies like written strangles near ₹1620 and ₹1630, where option value erosion accelerates fastest.

Data as of 2026-04-28

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Frequently Asked Questions

What is Torrent Power Limited max pain today?▾
Torrent Power Limited's max pain strike is ₹1,620 for the 2026-04-28 expiry (0 days away). Spot is 11.0% above max pain.
How is max pain calculated for Torrent Power Limited?▾
Torrent Power 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 Torrent Power 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 Torrent Power Limited. It should be used with other signals, not in isolation.
What happened to Torrent Power Limited max pain since yesterday?▾
Torrent Power Limited's max pain shifted down by ₹20 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 Torrent Power Limited options?▾
Torrent Power Limited's next options expiry is on 2026-04-28 — 0 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.