BANDHANBNK
Bandhan Bank Limited
Max pain for BANDHANBNK
21 Nov 2024 02:03 PM IST
Max Pain for BANDHANBNK is 177.5
Strike 140 has a total call value of 0 versus a total put value of 70,305,200,000 Combined total value = 70,305,200,000
Strike 142.5 has a total call value of 0 versus a total put value of 65,319,100,000 Combined total value = 65,319,100,000
Strike 145 has a total call value of 0 versus a total put value of 60,333,000,000 Combined total value = 60,333,000,000
Strike 147.5 has a total call value of 0 versus a total put value of 55,346,900,000 Combined total value = 55,346,900,000
Strike 150 has a total call value of 0 versus a total put value of 50,360,800,000 Combined total value = 50,360,800,000
Strike 152.5 has a total call value of 5,600,000 versus a total put value of 45,720,500,000 Combined total value = 45,726,100,000
Strike 155 has a total call value of 16,100,000 versus a total put value of 41,134,800,000 Combined total value = 41,150,900,000
Strike 157.5 has a total call value of 39,200,000 versus a total put value of 36,734,600,000 Combined total value = 36,773,800,000
Strike 160 has a total call value of 74,900,000 versus a total put value of 32,395,300,000 Combined total value = 32,470,200,000
Strike 162.5 has a total call value of 242,200,000 versus a total put value of 28,814,800,000 Combined total value = 29,057,000,000
Strike 165 has a total call value of 448,700,000 versus a total put value of 25,323,900,000 Combined total value = 25,772,600,000
Strike 167.5 has a total call value of 956,200,000 versus a total put value of 22,239,000,000 Combined total value = 23,195,200,000
Strike 170 has a total call value of 1,614,900,000 versus a total put value of 19,250,000,000 Combined total value = 20,864,900,000
Strike 172.5 has a total call value of 2,929,500,000 versus a total put value of 16,756,600,000 Combined total value = 19,686,100,000
Strike 175 has a total call value of 4,431,000,000 versus a total put value of 14,299,600,000 Combined total value = 18,730,600,000
Strike 177.5 has a total call value of 6,464,500,000 versus a total put value of 12,020,400,000 Combined total value = 18,484,900,000
Strike 180 has a total call value of 8,710,100,000 versus a total put value of 9,807,000,000 Combined total value = 18,517,100,000
Strike 182.5 has a total call value of 12,164,600,000 versus a total put value of 8,072,400,000 Combined total value = 20,237,000,000
Strike 185 has a total call value of 16,003,400,000 versus a total put value of 6,337,800,000 Combined total value = 22,341,200,000
Strike 187.5 has a total call value of 20,440,000,000 versus a total put value of 5,024,600,000 Combined total value = 25,464,600,000
Strike 190 has a total call value of 24,923,500,000 versus a total put value of 3,711,400,000 Combined total value = 28,634,900,000
Strike 192.5 has a total call value of 30,263,100,000 versus a total put value of 2,961,700,000 Combined total value = 33,224,800,000
Strike 195 has a total call value of 35,649,600,000 versus a total put value of 2,212,000,000 Combined total value = 37,861,600,000
Strike 197.5 has a total call value of 41,290,200,000 versus a total put value of 1,598,800,000 Combined total value = 42,889,000,000
Strike 200 has a total call value of 46,994,500,000 versus a total put value of 985,600,000 Combined total value = 47,980,100,000
Strike 202.5 has a total call value of 53,893,700,000 versus a total put value of 802,200,000 Combined total value = 54,695,900,000
Strike 205 has a total call value of 60,792,900,000 versus a total put value of 618,800,000 Combined total value = 61,411,700,000
Strike 207.5 has a total call value of 67,829,300,000 versus a total put value of 435,400,000 Combined total value = 68,264,700,000
Strike 210 has a total call value of 74,865,700,000 versus a total put value of 252,000,000 Combined total value = 75,117,700,000
Strike 212.5 has a total call value of 82,213,600,000 versus a total put value of 189,000,000 Combined total value = 82,402,600,000
Strike 215 has a total call value of 89,561,500,000 versus a total put value of 126,000,000 Combined total value = 89,687,500,000
Strike 217.5 has a total call value of 96,909,400,000 versus a total put value of 63,000,000 Combined total value = 96,972,400,000
Strike 220 has a total call value of 104,257,300,000 versus a total put value of 0 Combined total value = 104,257,300,000
Max-Pain Table for Monthly Expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| AARTIIND | 425.1 | 470 |
| ABB | 6768 | 7000 |
| ABBOTINDIA | 26990 | 28000 |
| ABCAPITAL | 184.1 | 200 |
| ABFRL | 286.95 | 300 |
| ACC | 2038.2 | 2240 |
| ADANIENT | 2300.45 | 2640 |
| ADANIPORTS | 1137.55 | 1200 |
| ALKEM | 5558.75 | 5500 |
| AMBUJACEM | 496.35 | 540 |
| APOLLOHOSP | 6723.95 | 6900 |
| APOLLOTYRE | 484 | 480 |
| ASHOKLEY | 217.64 | 220 |
| ASIANPAINT | 2429.35 | 2540 |
| ASTRAL | 1712 | 1780 |
| ATUL | 7245.3 | 7500 |
| AUBANK | 594.15 | 590 |
| AUROPHARMA | 1219.25 | 1300 |
| AXISBANK | 1139.55 | 1150 |
| BAJAJ-AUTO | 9493.7 | 9700 |
| BAJAJFINSV | 1574.7 | 1620 |
| BAJFINANCE | 6490.9 | 6700 |
| BALKRISIND | 2739.5 | 2800 |
| BANDHANBNK | 166.63 | 177.5 |
| BANKBARODA | 229.85 | 240 |
| BATAINDIA | 1280.9 | 1310 |
| BEL | 275.1 | 285 |
| BERGEPAINT | 466.35 | 495 |
| BHARATFORG | 1296 | 1340 |
| BHARTIARTL | 1520.45 | 1560 |
| BHEL | 228.4 | 235 |
| BIOCON | 324.45 | 330 |
| BOSCHLTD | 34099.95 | 34000 |
| BPCL | 282.35 | 300 |
| BRITANNIA | 4770.05 | 5000 |
| BSOFT | 545.1 | 560 |
| CANBK | 94.88 | 100 |
| CANFINHOME | 822.3 | 830 |
| CHAMBLFERT | 459.65 | 480 |
| CHOLAFIN | 1211.7 | 1240 |
| CIPLA | 1457.5 | 1520 |
| COALINDIA | 405.7 | 425 |
| COFORGE | 8206.3 | 8000 |
| COLPAL | 2684.85 | 2800 |
| CONCOR | 769.5 | 810 |
| COROMANDEL | 1775 | 1720 |
| CROMPTON | 381.9 | 390 |
| CUB | 170.69 | 175 |
| CUMMINSIND | 3292.75 | 3400 |
| DABUR | 506 | 525 |
| DALBHARAT | 1775.15 | 1760 |
| DEEPAKNTR | 2624.5 | 2650 |
| DIVISLAB | 5950.05 | 5900 |
| DIXON | 15044 | 14750 |
| DLF | 776.45 | 780 |
| DRREDDY | 1192.45 | 1220 |
| EICHERMOT | 4909.7 | 4900 |
| ESCORTS | 3461.75 | 3600 |
| EXIDEIND | 416 | 440 |
| FEDERALBNK | 210.61 | 205 |
| GAIL | 189.35 | 197.5 |
| GLENMARK | 1464.25 | 1520 |
| GMRINFRA | 77.06 | 82 |
| GNFC | 556.5 | 570 |
| GODREJCP | 1180.85 | 1200 |
| GODREJPROP | 2715.65 | 2750 |
| GRANULES | 544.95 | 580 |
| GRASIM | 2538.5 | 2540 |
| GUJGASLTD | 453.6 | 480 |
| HAL | 3996.35 | 4200 |
| HAVELLS | 1630 | 1640 |
| HCLTECH | 1830.45 | 1820 |
| HDFCAMC | 4204.55 | 4300 |
| HDFCBANK | 1742.75 | 1740 |
| HDFCLIFE | 673.85 | 680 |
| HEROMOTOCO | 4756.75 | 4800 |
| HINDALCO | 647.5 | 650 |
| HINDCOPPER | 263.65 | 290 |
| HINDPETRO | 360.4 | 375 |
| HINDUNILVR | 2379.5 | 2480 |
| ICICIBANK | 1250.1 | 1260 |
| ICICIGI | 1817.65 | 1880 |
| ICICIPRULI | 680.9 | 690 |
| IDEA | 6.98 | 8 |
| IDFCFIRSTB | 63.18 | 66 |
| IEX | 161.43 | 170 |
| IGL | 311.65 | 330 |
| INDHOTEL | 790.7 | 760 |
| INDIAMART | 2246.05 | 2400 |
| INDIGO | 4063.1 | 4000 |
| INDUSINDBK | 974.35 | 1040 |
| INDUSTOWER | 330.8 | 340 |
| INFY | 1826.15 | 1800 |
| IOC | 131.12 | 140 |
| IPCALAB | 1566.95 | 1560 |
| IRCTC | 796.65 | 820 |
| ITC | 456.7 | 475 |
| JINDALSTEL | 875.15 | 900 |
| JKCEMENT | 4006.85 | 4000 |
| JSWSTEEL | 944.05 | 960 |
| JUBLFOOD | 611.35 | 610 |
| KOTAKBANK | 1734.45 | 1760 |
| LALPATHLAB | 3018.65 | 3100 |
| LAURUSLABS | 487.55 | 490 |
| LICHSGFIN | 612.05 | 630 |
| LT | 3493.55 | 3600 |
| LTF | 137.94 | 140 |
| LTIM | 5913.55 | 5900 |
| LTTS | 5163.9 | 5150 |
| LUPIN | 2036.7 | 2100 |
| M&M | 2944.7 | 2900 |
| M&MFIN | 257.25 | 265 |
| MANAPPURAM | 151 | 155 |
| MARICO | 589.75 | 600 |
| MARUTI | 10914.55 | 11000 |
| MCX | 6185.8 | 6200 |
| METROPOLIS | 2011 | 2060 |
| MFSL | 1176.2 | 1200 |
| MGL | 1118 | 1160 |
| MOTHERSON | 161.72 | 175 |
| MPHASIS | 2770.85 | 2850 |
| MRF | 123122.55 | 122500 |
| MUTHOOTFIN | 1909 | 1880 |
| NATIONALUM | 249.6 | 240 |
| NAUKRI | 7521.15 | 7700 |
| NAVINFLUOR | 3265.15 | 3400 |
| NESTLEIND | 2205.05 | 2280 |
| NMDC | 218.79 | 225 |
| NTPC | 357.05 | 370 |
| OBEROIRLTY | 1930.4 | 1960 |
| OFSS | 11135.8 | 11500 |
| ONGC | 242.05 | 254 |
| PAGEIND | 44541.55 | 45500 |
| PEL | 1052.9 | 1060 |
| PERSISTENT | 5730.15 | 5600 |
| PETRONET | 320.85 | 328 |
| PFC | 452.8 | 460 |
| PIDILITIND | 2948.9 | 3060 |
| PIIND | 4126.15 | 4200 |
| PNB | 96.79 | 102 |
| POLYCAB | 6421.95 | 6500 |
| POWERGRID | 322.4 | 320 |
| PVRINOX | 1445.3 | 1500 |
| RAMCOCEM | 917.7 | 900 |
| RBLBANK | 158.55 | 160 |
| RECLTD | 490.15 | 510 |
| RELIANCE | 1219.4 | 1290 |
| SAIL | 111.55 | 115 |
| SBICARD | 673.6 | 690 |
| SBILIFE | 1485.1 | 1520 |
| SBIN | 782.1 | 800 |
| SHREECEM | 24288.45 | 24500 |
| SHRIRAMFIN | 2807 | 2900 |
| SIEMENS | 6680 | 6800 |
| SRF | 2157.5 | 2260 |
| SUNPHARMA | 1765 | 1800 |
| SUNTV | 728.1 | 730 |
| SYNGENE | 844.15 | 870 |
| TATACHEM | 1057.35 | 1100 |
| TATACOMM | 1711.3 | 1780 |
| TATACONSUM | 912.15 | 950 |
| TATAMOTORS | 778.8 | 800 |
| TATAPOWER | 410.45 | 420 |
| TATASTEEL | 140.65 | 145 |
| TCS | 4057.9 | 4100 |
| TECHM | 1697.2 | 1680 |
| TITAN | 3168 | 3200 |
| TORNTPHARM | 3093.95 | 3150 |
| TRENT | 6457.4 | 6600 |
| TVSMOTOR | 2399.6 | 2450 |
| UBL | 1822 | 1880 |
| ULTRACEMCO | 10934.5 | 11000 |
| UNITDSPR | 1490.9 | 1480 |
| UPL | 562.25 | 540 |
| VEDL | 443.05 | 460 |
| VOLTAS | 1673.5 | 1700 |
| WIPRO | 556.9 | 560 |
| ZYDUSLIFE | 940.5 | 960 |
Note:
| Stock LTP > Max Pain | Bearish Trend |
| Stock LTP < Max Pain | Bullish Trend |
What is Max Pain?
Max pain, or the max pain price, is the strike price with the most open contract puts and calls - and the price at which the stock would cause financial losses for the largest number of option holders at expiration.
Calculating Max Pain
Max pain is a simple but time consuming calculation. Essentially, it is the sum of the outstanding put and call dollar value of each in-the-money strike price. For each in-the-money strike price for both puts and calls:
- Find the difference between stock price and strike price
- Multiply the result by open interest at that strike
- Add together the dollar value for the put and call at that strike
- Repeat for each strike price
- Find the highest value strike price. This price is equivalent to max pain price.
How can a trader benefit?
As the option expiration approaches, option writers will try to buy or sell shares of stock to drive the price toward a closing price that is profitable for them, or at least to hedge their payouts to option holders. Call writers sell shares to drive share price down and Put holders buy shares to drive share price up. The max pain strike price exists somewhere in the middle.
