MFSL options
Max Financial option chain and implied move
| Metric | Value | Read |
|---|---|---|
| Market-implied move | ±₹29.70 | ±2.45% to the Tuesday, 27 October 2026 expiry, from the at-the-money straddle |
| Implied range | ₹1,181.60 – ₹1,241.00 | What option prices imply, not a forecast of where the stock will trade |
| Max pain | ₹1,340 | The strike at which the largest value of written options would expire worthless |
| Heaviest put strike | ₹1,400 | 1,26,800 contracts — the largest put position on the chain |
| Heaviest call strike | ₹1,340 | 2,92,800 contracts — the largest call position on the chain |
| Put-call ratio | 0.49 | Total put open interest divided by total call open interest across the chain |
| Implied volatility (ATM) | 28.45% | At-the-money implied volatility for the front expiry |
- Market-implied move
- ±₹29.70
- Implied range
- ₹1,182 – ₹1,241
- Max pain
- ₹1,340
- Implied volatility
- 28.45%
±2.45% over 4 days, from the ₹1,220 straddle
What option prices imply, not a forecast of where the stock will trade
₹129 above the close
At the money, for the front expiry
Implied rangeMax painLast close
Heaviest put ₹1,400Heaviest call ₹1,340ATM ₹1,220 · PCR 0.49
At the close on Friday, 23 October 2026, Max Financial options were pricing a move of ±₹29.70 by the Tuesday, 27 October 2026 expiry — a range of ₹1,181.60 to ₹1,241.00 against a closing price of ₹1,211.30. The figure is the at-the-money straddle at the ₹1,220 strike, which is what the options market itself is charging for the move to expiry. It describes the price of that expectation, not a forecast MarketCue makes.
Max pain sits at ₹1,340, ₹128.70 above the closing price — the strike at which the largest value of written options would expire worthless. The heaviest put position on the chain is at ₹1,400 with 1,26,800 contracts, and the heaviest call position at ₹1,340 with 2,92,800 contracts. Open interest describes where positions have been built; it is not a commitment by anyone to defend a price.
At-the-money implied volatility was 28.45% for the Tuesday, 27 October 2026 expiry. Realised volatility for Max Financial is not yet available for comparison.
This page is a record of where Max Financial's chain finished on Friday, 23 October 2026, not a live feed — the next reading follows tomorrow's close. Figures are derived from the NSE option chain via Upstox; max pain, the implied move, put-call ratio and the volatility comparison are MarketCue's own calculations from that data. MarketCue is not a registered investment adviser, research analyst or broker under SEBI regulations, and nothing here is a recommendation to buy or sell any security.
Read the full MarketCue scoring methodology
Source: NSE option chain via Upstox. .
Frequently asked questions
- What move are Max Financial options pricing this expiry?
- ±₹29.70, or 2.45%, giving a range of ₹1,181.60 to ₹1,241.00 by Tuesday, 27 October 2026. The figure is derived from the at-the-money straddle at the ₹1,220 strike.
- What is Max Financial's max pain?
- ₹1,340 at the last close, against a closing price of ₹1,211.30. Max pain is the strike at which the largest value of written options would expire worthless.
- Where is support and resistance in the Max Financial option chain?
- The largest put position sits at ₹1,400 with 1,26,800 contracts, and the largest call position at ₹1,340 with 2,92,800 contracts. Traders commonly read heavy open interest at a strike as a level, though open interest describes positioning rather than any commitment to defend a price.
- What is the lot size for Max Financial options?
- 400 shares per lot, with strikes in steps of ₹20. At the implied move of ±₹29.70, one lot corresponds to ±₹11,880 of notional movement.