9 in 10 individual F&O traders made net losses (SEBI).Risk disclosures on derivatives: 9 out of 10 individual traders in equity F&O incurred net losses.Read more

9 out of 10 individual traders in equity Futures and Options Segment incurred net losses.
On an average, loss makers registered net trading loss close to ₹50,000.
Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
Those making net trading profits incurred between 15% to 50% of such profits as transaction cost.

Source: SEBI study dated January 25, 2023 on “Analysis of Profit and Loss of Individual Traders dealing in equity Futures and Options (F&O) Segment”, wherein aggregate level findings are based on annual Profit/Loss incurred by individual traders in equity F&O during FY 2021-22. SEBI’s latest study (August 2026) found that 87.7% of individual traders in equity derivatives made net losses in FY 2025-26.

SWIGGY max painexpiry 23 Nov 2026

Key facts

SWIGGY max pain for the 23 Nov 2026 expiry is 185, 1.6% below the spot of ₹188.00, as of 9 Nov 2026, 3:40 pm IST.

Max pain: 185
Share price: ₹188.00
Gap to max pain: 1.6% below the spot
Expiry: 23 Nov (14 days)
Highest call OI: 200
Highest put OI: 180
PCR (OI): 0.49

As of 9 Nov 2026, 3:40 pm IST · End-of-day figures from the 9 Nov 2026 session; they refresh after the next close.

Open the expiry and max pain tool →Every strike, greeks and past sessions.

SWIGGY max pain by strike, 23 Nov 2026 expiry

What option writers would pay out if SWIGGY settled at each strike, in rupees, from the open interest of the 32 strikes nearest the money. Max pain (185) is the lowest total over every listed strike.
Settlement at	Call writers pay	Put writers pay	Total payout
145	₹0 Cr	₹100 Cr	₹100 Cr
150	₹0 Cr	₹89.69 Cr	₹89.69 Cr
155	₹0.00 Cr	₹79.24 Cr	₹79.25 Cr
160	₹0.01 Cr	₹69.05 Cr	₹69.05 Cr
165	₹0.06 Cr	₹59.43 Cr	₹59.49 Cr
170	₹0.11 Cr	₹50.05 Cr	₹50.16 Cr
175	₹0.59 Cr	₹41.86 Cr	₹42.45 Cr
180	₹1.57 Cr	₹34.69 Cr	₹36.26 Cr
185max pain	₹4.95 Cr	₹29.39 Cr	₹34.34 Cr
190	₹9.58 Cr	₹24.91 Cr	₹34.49 Cr
195	₹17.00 Cr	₹21.53 Cr	₹38.53 Cr
200	₹25.25 Cr	₹18.50 Cr	₹43.75 Cr
205	₹36.74 Cr	₹16.30 Cr	₹53.04 Cr
210	₹49.45 Cr	₹14.37 Cr	₹63.82 Cr
215	₹63.52 Cr	₹12.72 Cr	₹76.24 Cr
220	₹78.32 Cr	₹11.20 Cr	₹89.52 Cr
225	₹95.31 Cr	₹10.04 Cr	₹105 Cr
230	₹113 Cr	₹8.91 Cr	₹122 Cr
235	₹131 Cr	₹8.00 Cr	₹139 Cr

SWIGGY max pain by expiry

Each listed expiry's open interest, put-call ratio and max pain, 9 Nov 2026 session. OI in contracts.
Expiry	Days left	Call OI	Put OI	PCR	Max pain	ATM IV
23 Nov 2026	13	23.8 K	9.9 K	0.42	185	40.4%
29 Dec 2026	49	818	254	0.31	180	39.6%
25 Jan 2027	76	0	0	—	—	39.7%

Frequently asked questions

What is SWIGGY max pain today?

SWIGGY max pain for the 23 Nov 2026 expiry is 185 as of 9 Nov 2026, 3:40 pm IST, 1.6% below the spot of ₹188.00.

How is max pain calculated?

For every strike, add up what all open calls and puts would be worth at expiry if SWIGGY settled exactly there (open interest × how far each option is in the money). Max pain is the strike where that total is smallest: the settlement at which option writers as a group would pay out the least. It is computed over every listed strike of the expiry.

Does SWIGGY expire at max pain?

Not reliably. There are too few settled SWIGGY expiries on record to quote a hit rate; the expiry tool shows each past expiry's max pain against where it settled.

Is max pain a trading signal?

No. It describes where open positions sit, not where the price will go, and it moves as positions change during the session. Nothing on this page is a recommendation to buy or sell.

Is this a recommendation to trade SWIGGY options?

No. Jivani Markets is not a SEBI-registered research analyst or investment adviser. These are exchange figures shown for research; nothing here is a recommendation to buy or sell. F&O trading carries high risk: SEBI found 87.7% of individual traders in equity derivatives made net losses in FY 2025-26.

Not investment advice. Jivani Markets is a technology platform, not a SEBI-registered investment adviser or research analyst.

Derivatives are leveraged and can lose more than the premium or margin put in. Strategy results here are hypothetical. Past performance is not indicative of future results. Not investment advice. Jivani Markets is a technology platform, not a SEBI-registered investment adviser or research analyst.

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