BANKEX
Bank Index
Max pain for BANKEX
19 Sep 2024 04:12 PM IST
Max Pain for BANKEX is 60000
Strike 52500 has a total call value of 0 versus a total put value of 450,331,500,000 Combined total value = 450,331,500,000
Strike 52600 has a total call value of 0 versus a total put value of 443,455,050,000 Combined total value = 443,455,050,000
Strike 52700 has a total call value of 0 versus a total put value of 436,578,900,000 Combined total value = 436,578,900,000
Strike 52800 has a total call value of 0 versus a total put value of 429,706,350,000 Combined total value = 429,706,350,000
Strike 52900 has a total call value of 0 versus a total put value of 422,838,150,000 Combined total value = 422,838,150,000
Strike 53000 has a total call value of 0 versus a total put value of 415,974,000,000 Combined total value = 415,974,000,000
Strike 53100 has a total call value of 0 versus a total put value of 409,136,700,000 Combined total value = 409,136,700,000
Strike 53200 has a total call value of 0 versus a total put value of 402,299,400,000 Combined total value = 402,299,400,000
Strike 53300 has a total call value of 0 versus a total put value of 395,462,100,000 Combined total value = 395,462,100,000
Strike 53400 has a total call value of 0 versus a total put value of 388,624,800,000 Combined total value = 388,624,800,000
Strike 53500 has a total call value of 0 versus a total put value of 381,787,500,000 Combined total value = 381,787,500,000
Strike 53600 has a total call value of 0 versus a total put value of 374,950,200,000 Combined total value = 374,950,200,000
Strike 53700 has a total call value of 0 versus a total put value of 368,112,900,000 Combined total value = 368,112,900,000
Strike 53800 has a total call value of 0 versus a total put value of 361,275,600,000 Combined total value = 361,275,600,000
Strike 53900 has a total call value of 0 versus a total put value of 354,438,300,000 Combined total value = 354,438,300,000
Strike 54000 has a total call value of 0 versus a total put value of 347,601,000,000 Combined total value = 347,601,000,000
Strike 54100 has a total call value of 0 versus a total put value of 340,763,700,000 Combined total value = 340,763,700,000
Strike 54200 has a total call value of 0 versus a total put value of 333,926,400,000 Combined total value = 333,926,400,000
Strike 54300 has a total call value of 0 versus a total put value of 327,089,100,000 Combined total value = 327,089,100,000
Strike 54400 has a total call value of 0 versus a total put value of 320,251,800,000 Combined total value = 320,251,800,000
Strike 54500 has a total call value of 0 versus a total put value of 313,414,500,000 Combined total value = 313,414,500,000
Strike 54600 has a total call value of 0 versus a total put value of 306,577,200,000 Combined total value = 306,577,200,000
Strike 54700 has a total call value of 0 versus a total put value of 299,739,900,000 Combined total value = 299,739,900,000
Strike 54800 has a total call value of 0 versus a total put value of 292,902,600,000 Combined total value = 292,902,600,000
Strike 54900 has a total call value of 0 versus a total put value of 286,065,300,000 Combined total value = 286,065,300,000
Strike 55000 has a total call value of 0 versus a total put value of 279,228,000,000 Combined total value = 279,228,000,000
Strike 55100 has a total call value of 0 versus a total put value of 272,390,700,000 Combined total value = 272,390,700,000
Strike 55200 has a total call value of 0 versus a total put value of 265,553,400,000 Combined total value = 265,553,400,000
Strike 55300 has a total call value of 0 versus a total put value of 258,716,100,000 Combined total value = 258,716,100,000
Strike 55400 has a total call value of 0 versus a total put value of 251,878,800,000 Combined total value = 251,878,800,000
Strike 55500 has a total call value of 0 versus a total put value of 245,041,500,000 Combined total value = 245,041,500,000
Strike 55600 has a total call value of 0 versus a total put value of 238,204,200,000 Combined total value = 238,204,200,000
Strike 55700 has a total call value of 0 versus a total put value of 231,366,900,000 Combined total value = 231,366,900,000
Strike 55800 has a total call value of 0 versus a total put value of 224,529,600,000 Combined total value = 224,529,600,000
Strike 55900 has a total call value of 0 versus a total put value of 217,692,300,000 Combined total value = 217,692,300,000
Strike 56000 has a total call value of 0 versus a total put value of 210,855,000,000 Combined total value = 210,855,000,000
Strike 56100 has a total call value of 0 versus a total put value of 204,017,700,000 Combined total value = 204,017,700,000
Strike 56200 has a total call value of 0 versus a total put value of 197,180,400,000 Combined total value = 197,180,400,000
Strike 56300 has a total call value of 0 versus a total put value of 190,343,100,000 Combined total value = 190,343,100,000
Strike 56400 has a total call value of 0 versus a total put value of 183,505,800,000 Combined total value = 183,505,800,000
Strike 56500 has a total call value of 0 versus a total put value of 176,668,500,000 Combined total value = 176,668,500,000
Strike 56600 has a total call value of 0 versus a total put value of 170,038,200,000 Combined total value = 170,038,200,000
Strike 56700 has a total call value of 0 versus a total put value of 163,407,900,000 Combined total value = 163,407,900,000
Strike 56800 has a total call value of 0 versus a total put value of 156,777,600,000 Combined total value = 156,777,600,000
Strike 56900 has a total call value of 0 versus a total put value of 150,148,200,000 Combined total value = 150,148,200,000
Strike 57000 has a total call value of 0 versus a total put value of 143,519,550,000 Combined total value = 143,519,550,000
Strike 57100 has a total call value of 0 versus a total put value of 137,177,550,000 Combined total value = 137,177,550,000
Strike 57200 has a total call value of 0 versus a total put value of 130,835,550,000 Combined total value = 130,835,550,000
Strike 57300 has a total call value of 0 versus a total put value of 124,493,550,000 Combined total value = 124,493,550,000
Strike 57400 has a total call value of 0 versus a total put value of 118,158,600,000 Combined total value = 118,158,600,000
Strike 57500 has a total call value of 0 versus a total put value of 111,830,400,000 Combined total value = 111,830,400,000
Strike 57600 has a total call value of 0 versus a total put value of 105,650,700,000 Combined total value = 105,650,700,000
Strike 57700 has a total call value of 0 versus a total put value of 99,488,250,000 Combined total value = 99,488,250,000
Strike 57800 has a total call value of 0 versus a total put value of 93,337,500,000 Combined total value = 93,337,500,000
Strike 57900 has a total call value of 0 versus a total put value of 87,201,000,000 Combined total value = 87,201,000,000
Strike 58000 has a total call value of 0 versus a total put value of 81,080,100,000 Combined total value = 81,080,100,000
Strike 58100 has a total call value of 110,400,000 versus a total put value of 75,340,650,000 Combined total value = 75,451,050,000
Strike 58200 has a total call value of 220,800,000 versus a total put value of 69,659,850,000 Combined total value = 69,880,650,000
Strike 58300 has a total call value of 331,200,000 versus a total put value of 64,011,000,000 Combined total value = 64,342,200,000
Strike 58400 has a total call value of 441,600,000 versus a total put value of 58,387,650,000 Combined total value = 58,829,250,000
Strike 58500 has a total call value of 552,150,000 versus a total put value of 52,819,500,000 Combined total value = 53,371,650,000
Strike 58600 has a total call value of 788,850,000 versus a total put value of 47,584,200,000 Combined total value = 48,373,050,000
Strike 58700 has a total call value of 1,026,450,000 versus a total put value of 42,404,700,000 Combined total value = 43,431,150,000
Strike 58800 has a total call value of 1,264,050,000 versus a total put value of 37,463,100,000 Combined total value = 38,727,150,000
Strike 58900 has a total call value of 1,510,050,000 versus a total put value of 32,665,500,000 Combined total value = 34,175,550,000
Strike 59000 has a total call value of 1,770,300,000 versus a total put value of 28,061,250,000 Combined total value = 29,831,550,000
Strike 59100 has a total call value of 2,320,950,000 versus a total put value of 24,463,500,000 Combined total value = 26,784,450,000
Strike 59200 has a total call value of 2,898,900,000 versus a total put value of 21,078,750,000 Combined total value = 23,977,650,000
Strike 59300 has a total call value of 3,566,100,000 versus a total put value of 18,004,950,000 Combined total value = 21,571,050,000
Strike 59400 has a total call value of 4,299,450,000 versus a total put value of 15,069,300,000 Combined total value = 19,368,750,000
Strike 59500 has a total call value of 5,087,550,000 versus a total put value of 12,268,800,000 Combined total value = 17,356,350,000
Strike 59600 has a total call value of 6,005,550,000 versus a total put value of 9,961,200,000 Combined total value = 15,966,750,000
Strike 59700 has a total call value of 6,970,350,000 versus a total put value of 7,795,050,000 Combined total value = 14,765,400,000
Strike 59800 has a total call value of 7,972,500,000 versus a total put value of 5,813,700,000 Combined total value = 13,786,200,000
Strike 59900 has a total call value of 9,085,800,000 versus a total put value of 4,093,350,000 Combined total value = 13,179,150,000
Strike 60000 has a total call value of 10,331,700,000 versus a total put value of 2,599,950,000 Combined total value = 12,931,650,000
Strike 60100 has a total call value of 12,014,250,000 versus a total put value of 1,719,300,000 Combined total value = 13,733,550,000
Strike 60200 has a total call value of 14,010,750,000 versus a total put value of 1,066,650,000 Combined total value = 15,077,400,000
Strike 60300 has a total call value of 16,260,450,000 versus a total put value of 658,500,000 Combined total value = 16,918,950,000
Strike 60400 has a total call value of 19,008,300,000 versus a total put value of 383,550,000 Combined total value = 19,391,850,000
Strike 60500 has a total call value of 21,966,900,000 versus a total put value of 197,250,000 Combined total value = 22,164,150,000
Strike 60600 has a total call value of 25,600,950,000 versus a total put value of 133,350,000 Combined total value = 25,734,300,000
Strike 60700 has a total call value of 29,662,500,000 versus a total put value of 84,600,000 Combined total value = 29,747,100,000
Strike 60800 has a total call value of 33,946,950,000 versus a total put value of 45,000,000 Combined total value = 33,991,950,000
Strike 60900 has a total call value of 38,552,700,000 versus a total put value of 16,950,000 Combined total value = 38,569,650,000
Strike 61000 has a total call value of 43,427,400,000 versus a total put value of 0 Combined total value = 43,427,400,000
Strike 61100 has a total call value of 49,066,350,000 versus a total put value of 0 Combined total value = 49,066,350,000
Strike 61200 has a total call value of 55,032,750,000 versus a total put value of 0 Combined total value = 55,032,750,000
Strike 61300 has a total call value of 61,296,000,000 versus a total put value of 0 Combined total value = 61,296,000,000
Strike 61400 has a total call value of 67,769,100,000 versus a total put value of 0 Combined total value = 67,769,100,000
Strike 61500 has a total call value of 74,344,350,000 versus a total put value of 0 Combined total value = 74,344,350,000
Strike 61600 has a total call value of 81,325,650,000 versus a total put value of 0 Combined total value = 81,325,650,000
Strike 61700 has a total call value of 88,375,950,000 versus a total put value of 0 Combined total value = 88,375,950,000
Strike 61800 has a total call value of 95,454,300,000 versus a total put value of 0 Combined total value = 95,454,300,000
Strike 61900 has a total call value of 102,651,450,000 versus a total put value of 0 Combined total value = 102,651,450,000
Strike 62000 has a total call value of 109,852,500,000 versus a total put value of 0 Combined total value = 109,852,500,000
Strike 62100 has a total call value of 117,519,750,000 versus a total put value of 0 Combined total value = 117,519,750,000
Strike 62200 has a total call value of 125,187,000,000 versus a total put value of 0 Combined total value = 125,187,000,000
Strike 62300 has a total call value of 132,854,250,000 versus a total put value of 0 Combined total value = 132,854,250,000
Strike 62400 has a total call value of 140,531,700,000 versus a total put value of 0 Combined total value = 140,531,700,000
Strike 62500 has a total call value of 148,214,550,000 versus a total put value of 0 Combined total value = 148,214,550,000
Strike 62600 has a total call value of 156,071,250,000 versus a total put value of 0 Combined total value = 156,071,250,000
Strike 62700 has a total call value of 163,932,450,000 versus a total put value of 0 Combined total value = 163,932,450,000
Strike 62800 has a total call value of 171,797,100,000 versus a total put value of 0 Combined total value = 171,797,100,000
Strike 62900 has a total call value of 179,826,000,000 versus a total put value of 0 Combined total value = 179,826,000,000
Strike 63000 has a total call value of 187,857,750,000 versus a total put value of 0 Combined total value = 187,857,750,000
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.