F&O data
Max pain trend. And how often expiry really lands there.
NIFTY and BANK NIFTY max pain against spot since Jul 2024, every expiry tested, and the same check for each F&O stock.
Max pain now22,900for the 19 Oct expiry
NIFTY 50 spot22,889-0.05% from max pain
Expiries within 0.5%45%of 120 expiries since Jul 2024
Typical miss0.54%median gap: expiry close vs max pain the day before
Did NIFTY 50 settle near max pain?
Max pain from the evening before each expiry, against the spot close on expiry day. Latest 12 of 120.
| Expiry | Max pain, day before | Spot at expiry | Gap |
|---|---|---|---|
| Mon 19 Oct 2026 | 23,050 | 22,889 | -0.70% |
| Tue 13 Oct 2026 | 22,400 | 22,722 | +1.44% |
| Tue 6 Oct 2026 | 22,550 | 22,776 | +1.00% |
| Tue 29 Sep 2026 | 22,950 | 22,716 | -1.02% |
| Tue 22 Sep 2026 | 23,400 | 23,329 | -0.30% |
| Tue 15 Sep 2026 | 23,450 | 23,119 | -1.41% |
| Tue 8 Sep 2026 | 23,800 | 23,635 | -0.69% |
| Tue 1 Sep 2026 | 24,100 | 24,056 | -0.18% |
| Tue 25 Aug 2026 | 24,200 | 24,335 | +0.56% |
| Tue 18 Aug 2026 | 24,350 | 24,155 | -0.80% |
| Tue 11 Aug 2026 | 24,600 | 24,472 | -0.52% |
| Tue 4 Aug 2026 | 24,550 | 24,615 | +0.26% |
Max pain now55,600for the 27 Oct expiry
BANK NIFTY spot55,488-0.20% from max pain
Expiries within 0.5%50%of 42 expiries since Jul 2024
Typical miss0.48%median gap: expiry close vs max pain the day before
Did BANK NIFTY settle near max pain?
Max pain from the evening before each expiry, against the spot close on expiry day. Latest 12 of 42.
| Expiry | Max pain, day before | Spot at expiry | Gap |
|---|---|---|---|
| Tue 29 Sep 2026 | 55,500 | 54,260 | -2.23% |
| Tue 25 Aug 2026 | 57,500 | 57,514 | +0.02% |
| Tue 28 Jul 2026 | 57,200 | 56,756 | -0.78% |
| Tue 30 Jun 2026 | 57,500 | 57,543 | +0.07% |
| Tue 26 May 2026 | 55,100 | 55,093 | -0.01% |
| Tue 28 Apr 2026 | 56,100 | 55,400 | -1.25% |
| Mon 30 Mar 2026 | 54,300 | 50,275 | -7.41% |
| Tue 24 Feb 2026 | 61,000 | 61,047 | +0.08% |
| Tue 27 Jan 2026 | 59,000 | 59,205 | +0.35% |
| Tue 30 Dec 2025 | 59,000 | 59,171 | +0.29% |
| Tue 25 Nov 2025 | 58,800 | 58,820 | +0.03% |
| Tue 28 Oct 2025 | 57,800 | 58,214 | +0.72% |
Max pain now25,000for the 27 Oct expiry
FINNIFTY spot24,987-0.05% from max pain
Expiries within 0.5%53%of 43 expiries since Jul 2024
Typical miss0.44%median gap: expiry close vs max pain the day before
Did FINNIFTY settle near max pain?
Max pain from the evening before each expiry, against the spot close on expiry day. Latest 12 of 43.
| Expiry | Max pain, day before | Spot at expiry | Gap |
|---|---|---|---|
| Tue 29 Sep 2026 | 25,000 | 24,648 | -1.41% |
| Tue 25 Aug 2026 | 26,250 | 26,247 | -0.01% |
| Tue 28 Jul 2026 | 26,100 | 26,024 | -0.29% |
| Tue 30 Jun 2026 | 26,500 | 26,555 | +0.21% |
| Tue 26 May 2026 | 25,950 | 25,932 | -0.07% |
| Tue 28 Apr 2026 | 26,200 | 25,938 | -1.00% |
| Mon 30 Mar 2026 | 25,400 | 23,522 | -7.39% |
| Tue 24 Feb 2026 | 28,300 | 28,295 | -0.02% |
| Tue 27 Jan 2026 | 27,100 | 27,058 | -0.15% |
| Tue 30 Dec 2025 | 27,450 | 27,383 | -0.24% |
| Tue 25 Nov 2025 | 27,600 | 27,409 | -0.69% |
| Tue 28 Oct 2025 | 27,500 | 27,454 | -0.17% |
Max pain now13,700for the 27 Oct expiry
MIDCAP NIFTY spot13,565-0.98% from max pain
Expiries within 0.5%29%of 42 expiries since Jul 2024
Typical miss0.80%median gap: expiry close vs max pain the day before
Did MIDCAP NIFTY settle near max pain?
Max pain from the evening before each expiry, against the spot close on expiry day. Latest 12 of 42.
| Expiry | Max pain, day before | Spot at expiry | Gap |
|---|---|---|---|
| Tue 29 Sep 2026 | 13,975 | 13,674 | -2.15% |
| Tue 25 Aug 2026 | 14,900 | 15,001 | +0.68% |
| Tue 28 Jul 2026 | 14,525 | 14,541 | +0.11% |
| Tue 30 Jun 2026 | 14,400 | 14,426 | +0.18% |
| Tue 26 May 2026 | 14,500 | 14,676 | +1.21% |
| Tue 28 Apr 2026 | 13,850 | 13,976 | +0.91% |
| Mon 30 Mar 2026 | 12,700 | 12,159 | -4.26% |
| Tue 24 Feb 2026 | 13,500 | 13,449 | -0.38% |
| Tue 27 Jan 2026 | 13,300 | 13,138 | -1.22% |
| Tue 30 Dec 2025 | 13,700 | 13,601 | -0.72% |
| Tue 25 Nov 2025 | 13,800 | 13,807 | +0.05% |
| Tue 28 Oct 2025 | 13,300 | 13,366 | +0.50% |
F&O stocks: max pain today and their record
Today’s max pain and spot for each stock, and on past expiries how far the stock closed from the previous evening’s max pain.
Questions
What is max pain?
Max pain is the strike price at which option buyers, taken together, would lose the most money if the market expired there. Equivalently, it is where option writers would pay out the least.
Does the market really close at max pain on expiry?
Sometimes. Since Jul 2024, NIFTY closed within 0.5% of the previous evening’s max pain on 45% of 120 expiries, and within 1% on 78%. The median gap was 0.54%. Treat it as one reference level, not a target.
How is max pain calculated here?
From NSE’s end-of-day open interest for every strike of the nearest expiry: for each strike we add up what all calls and puts would be worth at expiry, and pick the strike where that total is smallest.
Related F&O tools
Today’s numbers, their history, and every stock’s own page.
From NSE’s end-of-day F&O files. Past patterns are not a forecast. Information, not investment advice; ChartMine is not a SEBI-registered adviser.