197.4 0.85 (0.43%)

Strike  160  has a total call value of 0  versus a total put value of  68,684,118,750 Combined total value = 68,684,118,750

Strike  162.5  has a total call value of 13,162,500  versus a total put value of  63,668,475,000 Combined total value = 63,681,637,500

Strike  165  has a total call value of 26,325,000  versus a total put value of  58,652,831,250 Combined total value = 58,679,156,250

Strike  167.5  has a total call value of 39,487,500  versus a total put value of  53,716,893,750 Combined total value = 53,756,381,250

Strike  170  has a total call value of 52,650,000  versus a total put value of  48,780,956,250 Combined total value = 48,833,606,250

Strike  172.5  has a total call value of 65,812,500  versus a total put value of  43,845,018,750 Combined total value = 43,910,831,250

Strike  175  has a total call value of 78,975,000  versus a total put value of  38,942,718,750 Combined total value = 39,021,693,750

Strike  177.5  has a total call value of 92,137,500  versus a total put value of  34,150,837,500 Combined total value = 34,242,975,000

Strike  180  has a total call value of 105,300,000  versus a total put value of  29,398,443,750 Combined total value = 29,503,743,750

Strike  182.5  has a total call value of 118,462,500  versus a total put value of  25,135,987,500 Combined total value = 25,254,450,000

Strike  185  has a total call value of 131,625,000  versus a total put value of  21,013,931,250 Combined total value = 21,145,556,250

Strike  187.5  has a total call value of 191,587,500  versus a total put value of  17,271,393,750 Combined total value = 17,462,981,250

Strike  190  has a total call value of 299,081,250  versus a total put value of  13,645,856,250 Combined total value = 13,944,937,500

Strike  192.5  has a total call value of 708,581,250  versus a total put value of  10,799,831,250 Combined total value = 11,508,412,500

Strike  195  has a total call value of 1,229,962,500  versus a total put value of  8,195,850,000 Combined total value = 9,425,812,500

Strike  197.5  has a total call value of 2,429,943,750  versus a total put value of  6,304,837,500 Combined total value = 8,734,781,250

Strike  200  has a total call value of 4,116,937,500  versus a total put value of  4,635,393,750 Combined total value = 8,752,331,250

Strike  202.5  has a total call value of 7,945,031,250  versus a total put value of  3,640,162,500 Combined total value = 11,585,193,750

Strike  205  has a total call value of 12,109,500,000  versus a total put value of  2,699,775,000 Combined total value = 14,809,275,000

Strike  207.5  has a total call value of 17,119,293,750  versus a total put value of  1,949,512,500 Combined total value = 19,068,806,250

Strike  210  has a total call value of 22,353,581,250  versus a total put value of  1,291,387,500 Combined total value = 23,644,968,750

Strike  212.5  has a total call value of 28,450,012,500  versus a total put value of  840,206,250 Combined total value = 29,290,218,750

Strike  215  has a total call value of 34,817,737,500  versus a total put value of  550,631,250 Combined total value = 35,368,368,750

Strike  217.5  has a total call value of 41,736,825,000  versus a total put value of  406,575,000 Combined total value = 42,143,400,000

Strike  220  has a total call value of 48,655,912,500  versus a total put value of  262,518,750 Combined total value = 48,918,431,250

Strike  222.5  has a total call value of 56,358,168,750  versus a total put value of  214,256,250 Combined total value = 56,572,425,000

Strike  225  has a total call value of 64,060,425,000  versus a total put value of  165,993,750 Combined total value = 64,226,418,750

Strike  227.5  has a total call value of 71,941,837,500  versus a total put value of  126,506,250 Combined total value = 72,068,343,750

Strike  230  has a total call value of 79,857,618,750  versus a total put value of  87,018,750 Combined total value = 79,944,637,500

Strike  232.5  has a total call value of 88,077,600,000  versus a total put value of  65,812,500 Combined total value = 88,143,412,500

Strike  235  has a total call value of 96,297,581,250  versus a total put value of  44,606,250 Combined total value = 96,342,187,500

Strike  237.5  has a total call value of 104,517,562,500  versus a total put value of  23,400,000 Combined total value = 104,540,962,500

Strike  240  has a total call value of 112,737,543,750  versus a total put value of  2,193,750 Combined total value = 112,739,737,500

Strike  242.5  has a total call value of 121,092,806,250  versus a total put value of  0 Combined total value = 121,092,806,250

Max Pain - Choose a symbol

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:
  1. Find the difference between stock price and strike price
  2. Multiply the result by open interest at that strike
  3. Add together the dollar value for the put and call at that strike
  4. Repeat for each strike price
  5. 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.