Tools

SENSEX Max Pain Calculator.

The strike where option writers lose the least — and, historically, where price gravitates into expiry. Free snapshot, 15-minute delayed. The full real-time chain across all strikes lives in the terminal.

NIFTY SENSEX
Max Pain Strike
72,500
Spot
72,615.70
Expiry
2026-10-15

15-minute delayed snapshot · as of 09 Oct 2026, 15:39 IST · strikes near spot, SENSEX weekly expiry

Strikes near spot

Strike Call OI Put OI Total OI
72,100 84,300 263,460 347,760
72,200 104,520 273,480 378,000
72,300 149,900 366,220 516,120
72,400 214,700 350,040 564,740
72,500MAX PAIN 439,840 686,480 1,126,320
72,600 223,760 243,820 467,580
72,700 180,860 175,140 356,000
72,800 135,360 79,620 214,980
72,900 119,200 38,340 157,540
73,000 383,580 228,220 611,800
73,100 90,020 19,200 109,220

How Max Pain works

Max Pain is the strike where total payout to option holders is smallest, so writers as a group lose the least. It uses open interest only: for each candidate strike, sum what every ITM call and put would be worth at settlement there, and take the minimum. Max Pain, explained →

A snapshot: one read up to 15 minutes old, with a window of strikes near spot. The terminal recalculates live across every strike.

Related reading

Max Pain Explained →

The worked calculation, step by step, and when the signal fails.

PCR Explained →

Put-Call Ratio — the positioning signal that pairs with Max Pain.

OI Buildup Explained →

Reading fresh positioning from open-interest change, not just OI levels.

Want Max Pain live, every tick, across all six indices — plus PCR, OI Buildup and autotrade? Login to the terminal →