Bank Nifty max pain today
Live Bank Nifty max pain: the strike where option writers pay out the least at expiry, computed from the full call and put open-interest payout curve, with the spot-to-max-pain gap, current expiry, PCR and strike-level OI alongside.
The payout curve and strike table show why the level sits where it does — max pain is the sum of every strike's theoretical payout, not simply the highest-OI strike — and intraday replay tracks how the level migrated as OI changed through the session.
Workflow: read the gap direction for the magnet, check the distribution for pinning strength, and weight the read heaviest in the final sessions before Bank Nifty expiry when convergence toward max pain is historically strongest.
What is Bank Nifty Max Pain today?
The latest available Bank Nifty Max Pain is 57,500 for expiry 29-Sep-2026. The value is calculated from the complete call and put open-interest payout curve shown above.
How is Bank Nifty Max Pain calculated?
For every listed strike, the calculator estimates the intrinsic payout of all open calls and puts if the contract expired at that strike. The strike with the smallest combined payout is Max Pain.
Does Bank Nifty always expire at Max Pain?
No. Max Pain is a positioning reference, not a guaranteed settlement target. News, volatility, hedging flows and rapid OI migration can keep spot far from the level.
Is Max Pain the same as the highest OI strike?
No. Highest OI measures one strike, while Max Pain evaluates the combined theoretical payout across every call and put strike in the selected expiry.
When is Max Pain most useful?
It is generally more relevant near expiry, when open interest is mature and time remaining is short. Earlier in the cycle the level can move substantially as traders reposition.
Related JustTicks tools: Max Pain, Option Chain, OI Analysis
Bank Nifty Max Pain Today
Latest sessionLatest Max Pain snapshot
Bank Nifty Max Pain
57,500
Updated 04 Sep 2026, 03:40 PM IST
Spot
57,369.65
Bank Nifty
Spot − Max Pain
-130.35
-0.23% from Max Pain
OI PCR
1.01
Put OI ÷ Call OI
Total OI
2.13 Cr
Selected expiry
What today’s distance means
Bank Nifty spot is close to Max Pain, a positioning setup often associated with expiry pinning when no stronger catalyst dominates.
Bank Nifty Max Pain payout curve
The trough in total theoretical payout marks Max Pain for the selected expiry.
Strike-wise Max Pain calculation
Every strike used in the payout curve; the lowest total payout is Max Pain.
| Strike | Call OI | Put OI | Total OI | Call payout | Put payout | Total payout |
|---|---|---|---|---|---|---|
| 54,000 | 60.2K | 5.50 L | 6.10 L | 0 | 3118.05 Cr | 3118.05 Cr |
| 54,100 | 0 | 0 | 0 | 60.18 L | 3016.90 Cr | 3017.50 Cr |
| 54,200 | 0 | 0 | 0 | 1.20 Cr | 2915.75 Cr | 2916.95 Cr |
| 54,300 | 300 | 0 | 300 | 1.81 Cr | 2814.59 Cr | 2816.40 Cr |
| 54,400 | 30 | 47.1K | 47.1K | 2.41 Cr | 2713.44 Cr | 2715.85 Cr |
| 54,500 | 4.2K | 2.58 L | 2.62 L | 3.02 Cr | 2612.76 Cr | 2615.77 Cr |
| 54,600 | 30 | 28.3K | 28.4K | 3.66 Cr | 2514.66 Cr | 2518.32 Cr |
| 54,700 | 0 | 25.5K | 25.5K | 4.31 Cr | 2416.84 Cr | 2421.15 Cr |
| 54,800 | 0 | 49.0K | 49.0K | 4.96 Cr | 2319.28 Cr | 2324.23 Cr |
| 54,900 | 0 | 19.6K | 19.6K | 5.60 Cr | 2222.20 Cr | 2227.81 Cr |
| 55,000 | 93.3K | 5.61 L | 6.54 L | 6.25 Cr | 2125.33 Cr | 2131.58 Cr |
| 55,100 | 330 | 22.9K | 23.2K | 7.83 Cr | 2034.06 Cr | 2041.89 Cr |
| 55,200 | 0 | 1.20 L | 1.20 L | 9.41 Cr | 1943.02 Cr | 1952.44 Cr |
| 55,300 | 0 | 22.1K | 22.1K | 11.00 Cr | 1853.18 Cr | 1864.18 Cr |
| 55,400 | 30 | 54.2K | 54.2K | 12.58 Cr | 1763.56 Cr | 1776.15 Cr |
Bank Nifty Max Pain: how to read today’s level
Use the live strike, spot gap and full payout curve together. Max Pain is an expiry-positioning reference, not a standalone forecast.
Find the payout trough
Each candidate settlement strike is tested against all call and put OI. The smallest combined payout identifies Max Pain.
Measure the spot gap
A wide gap matters more near expiry, but spot can stay displaced when volatility or news overwhelms positioning flows.
Confirm OI structure
Compare Max Pain with the highest Call OI, highest Put OI, PCR and fresh change in OI before forming a view.
What is Bank Nifty max pain right now?
The latest available max pain for Bank Nifty is 57,500 for expiry 29-Sep-2026. It is the strike where option writers would pay out the least if Bank Nifty settled there — the point of minimum total payout across every call and put strike in the expiry.
How Bank Nifty max pain shifted today
Max pain is recalculated as open interest builds, so the level drifts through the session instead of staying fixed. Small moves are routine, but large shifts — 100+ points for NIFTY-scale strikes — signal OI migrating between strike clusters, often into expiry week. Use the historical date control in the sidebar to replay an earlier session and see how the level travelled.
Max pain vs PCR
Max pain gives you the level — the strike with the minimum writer payout — while the Bank Nifty put-call ratio gives the direction bias from aggregate put and call OI. Use both together: spot above max pain with a rising PCR sketches a very different setup than the same gap with a falling PCR.
Max Pain calculation
Call payout = Call OI × max(0, settlement − strike)
Put payout = Put OI × max(0, strike − settlement)
The calculator repeats this across every strike and selects the settlement with the lowest total payout.
What Max Pain cannot tell you
It does not identify whether OI came from buyers or writers, predict a guaranteed closing price, or account for future OI changes. Recalculate after material positioning shifts.
Bank Nifty Max Pain FAQs
What is Bank Nifty Max Pain today?
The latest available Bank Nifty Max Pain is 57,500 for expiry 29-Sep-2026. The value is calculated from the complete call and put open-interest payout curve shown above.
How is Bank Nifty Max Pain calculated?
For every listed strike, the calculator estimates the intrinsic payout of all open calls and puts if the contract expired at that strike. The strike with the smallest combined payout is Max Pain.
Does Bank Nifty always expire at Max Pain?
No. Max Pain is a positioning reference, not a guaranteed settlement target. News, volatility, hedging flows and rapid OI migration can keep spot far from the level.
Is Max Pain the same as the highest OI strike?
No. Highest OI measures one strike, while Max Pain evaluates the combined theoretical payout across every call and put strike in the selected expiry.
When is Max Pain most useful?
It is generally more relevant near expiry, when open interest is mature and time remaining is short. Earlier in the cycle the level can move substantially as traders reposition.
Continue the analysis
Market data can be delayed or unavailable. Max Pain is for analysis and education and is not investment advice.