United Spirits 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 UNITDSPR, that strike is ₹1,540. Spot at ₹1,471.7 is 4.4% below max pain — possible upward gravitational pull into expiry.
Max Pain Level
The current max‑pain strike for United Spirits Limited (UNITDSPR) is ₹1,540. This level represents the strike at which option writers would incur the smallest aggregate loss, acting as a magnet that often draws the underlying price toward it as expiry approaches.
Spot vs Max Pain Gap
The spot price of ₹1,471.7 sits about 4.44 % below the max‑pain level, indicating a modest upside gap. Such a gap suggests that any pull‑back in the spot could be absorbed by buying pressure, while a rally may be aided by sellers positioning for the higher strike.
Shift Signal
There is no shift versus yesterday’s max‑pain figure, implying that option writers have not altered their collective positioning. The steady stance reinforces the existing concentration of open interest around the ₹1,540 strike.
Expiry Context
Max pain is derived from the net open interest of calls and puts, where the strike that minimizes total writer loss tends to attract the underlying price in the final week of trading. Historically, the spot often drifts toward this level during the last 10‑15 days, though the phenomenon is a tendency rather than a deterministic outcome.
Data Note
The spot is currently ₹68.3 below the max‑pain strike, with 25 days remaining until expiry on 2026‑09‑29.
Data as of 2026-09-04