BANKEX
Bank Index
Max pain for BANKEX
21 Nov 2024 02:47 PM IST
Max Pain for BANKEX is 57400
Strike 53200 has a total call value of 0 versus a total put value of 225,741,750,000 Combined total value = 225,741,750,000
Strike 53300 has a total call value of 0 versus a total put value of 219,357,900,000 Combined total value = 219,357,900,000
Strike 53400 has a total call value of 0 versus a total put value of 212,974,350,000 Combined total value = 212,974,350,000
Strike 53500 has a total call value of 0 versus a total put value of 206,590,800,000 Combined total value = 206,590,800,000
Strike 53600 has a total call value of 0 versus a total put value of 200,207,250,000 Combined total value = 200,207,250,000
Strike 53700 has a total call value of 0 versus a total put value of 193,834,800,000 Combined total value = 193,834,800,000
Strike 53800 has a total call value of 0 versus a total put value of 187,462,350,000 Combined total value = 187,462,350,000
Strike 53900 has a total call value of 0 versus a total put value of 181,089,900,000 Combined total value = 181,089,900,000
Strike 54000 has a total call value of 0 versus a total put value of 174,717,450,000 Combined total value = 174,717,450,000
Strike 54100 has a total call value of 0 versus a total put value of 168,345,000,000 Combined total value = 168,345,000,000
Strike 54200 has a total call value of 0 versus a total put value of 161,972,550,000 Combined total value = 161,972,550,000
Strike 54300 has a total call value of 0 versus a total put value of 155,600,100,000 Combined total value = 155,600,100,000
Strike 54400 has a total call value of 0 versus a total put value of 149,227,650,000 Combined total value = 149,227,650,000
Strike 54500 has a total call value of 0 versus a total put value of 142,855,200,000 Combined total value = 142,855,200,000
Strike 54600 has a total call value of 0 versus a total put value of 136,482,750,000 Combined total value = 136,482,750,000
Strike 54700 has a total call value of 150,000 versus a total put value of 130,110,300,000 Combined total value = 130,110,450,000
Strike 54800 has a total call value of 300,000 versus a total put value of 123,737,850,000 Combined total value = 123,738,150,000
Strike 54900 has a total call value of 450,000 versus a total put value of 117,365,400,000 Combined total value = 117,365,850,000
Strike 55000 has a total call value of 600,000 versus a total put value of 110,992,950,000 Combined total value = 110,993,550,000
Strike 55100 has a total call value of 750,000 versus a total put value of 104,806,350,000 Combined total value = 104,807,100,000
Strike 55200 has a total call value of 900,000 versus a total put value of 98,619,750,000 Combined total value = 98,620,650,000
Strike 55300 has a total call value of 1,050,000 versus a total put value of 92,433,150,000 Combined total value = 92,434,200,000
Strike 55400 has a total call value of 1,200,000 versus a total put value of 86,297,550,000 Combined total value = 86,298,750,000
Strike 55500 has a total call value of 1,350,000 versus a total put value of 80,380,350,000 Combined total value = 80,381,700,000
Strike 55600 has a total call value of 1,500,000 versus a total put value of 75,082,950,000 Combined total value = 75,084,450,000
Strike 55700 has a total call value of 1,650,000 versus a total put value of 69,850,200,000 Combined total value = 69,851,850,000
Strike 55800 has a total call value of 1,800,000 versus a total put value of 64,725,750,000 Combined total value = 64,727,550,000
Strike 55900 has a total call value of 1,950,000 versus a total put value of 59,676,900,000 Combined total value = 59,678,850,000
Strike 56000 has a total call value of 2,100,000 versus a total put value of 54,719,100,000 Combined total value = 54,721,200,000
Strike 56100 has a total call value of 4,350,000 versus a total put value of 50,263,650,000 Combined total value = 50,268,000,000
Strike 56200 has a total call value of 7,200,000 versus a total put value of 45,881,100,000 Combined total value = 45,888,300,000
Strike 56300 has a total call value of 10,200,000 versus a total put value of 41,554,350,000 Combined total value = 41,564,550,000
Strike 56400 has a total call value of 14,700,000 versus a total put value of 37,288,800,000 Combined total value = 37,303,500,000
Strike 56500 has a total call value of 22,200,000 versus a total put value of 33,084,900,000 Combined total value = 33,107,100,000
Strike 56600 has a total call value of 42,150,000 versus a total put value of 29,017,350,000 Combined total value = 29,059,500,000
Strike 56700 has a total call value of 97,950,000 versus a total put value of 25,040,100,000 Combined total value = 25,138,050,000
Strike 56800 has a total call value of 186,000,000 versus a total put value of 21,205,650,000 Combined total value = 21,391,650,000
Strike 56900 has a total call value of 308,550,000 versus a total put value of 17,597,700,000 Combined total value = 17,906,250,000
Strike 57000 has a total call value of 631,500,000 versus a total put value of 14,227,350,000 Combined total value = 14,858,850,000
Strike 57100 has a total call value of 1,990,350,000 versus a total put value of 11,373,750,000 Combined total value = 13,364,100,000
Strike 57200 has a total call value of 3,555,600,000 versus a total put value of 8,752,500,000 Combined total value = 12,308,100,000
Strike 57300 has a total call value of 5,358,600,000 versus a total put value of 6,377,700,000 Combined total value = 11,736,300,000
Strike 57400 has a total call value of 7,374,000,000 versus a total put value of 4,266,750,000 Combined total value = 11,640,750,000
Strike 57500 has a total call value of 9,669,450,000 versus a total put value of 2,441,700,000 Combined total value = 12,111,150,000
Strike 57600 has a total call value of 12,669,450,000 versus a total put value of 1,886,550,000 Combined total value = 14,556,000,000
Strike 57700 has a total call value of 15,930,900,000 versus a total put value of 1,451,400,000 Combined total value = 17,382,300,000
Strike 57800 has a total call value of 19,349,250,000 versus a total put value of 1,064,100,000 Combined total value = 20,413,350,000
Strike 57900 has a total call value of 22,907,850,000 versus a total put value of 719,100,000 Combined total value = 23,626,950,000
Strike 58000 has a total call value of 26,626,200,000 versus a total put value of 441,450,000 Combined total value = 27,067,650,000
Strike 58100 has a total call value of 31,002,150,000 versus a total put value of 343,050,000 Combined total value = 31,345,200,000
Strike 58200 has a total call value of 35,534,550,000 versus a total put value of 268,800,000 Combined total value = 35,803,350,000
Strike 58300 has a total call value of 40,205,700,000 versus a total put value of 207,300,000 Combined total value = 40,413,000,000
Strike 58400 has a total call value of 45,070,950,000 versus a total put value of 160,950,000 Combined total value = 45,231,900,000
Strike 58500 has a total call value of 50,073,450,000 versus a total put value of 122,100,000 Combined total value = 50,195,550,000
Strike 58600 has a total call value of 55,575,150,000 versus a total put value of 92,400,000 Combined total value = 55,667,550,000
Strike 58700 has a total call value of 61,258,650,000 versus a total put value of 68,400,000 Combined total value = 61,327,050,000
Strike 58800 has a total call value of 67,011,000,000 versus a total put value of 45,900,000 Combined total value = 67,056,900,000
Strike 58900 has a total call value of 72,808,200,000 versus a total put value of 26,100,000 Combined total value = 72,834,300,000
Strike 59000 has a total call value of 78,676,800,000 versus a total put value of 7,500,000 Combined total value = 78,684,300,000
Strike 59100 has a total call value of 85,005,150,000 versus a total put value of 5,100,000 Combined total value = 85,010,250,000
Strike 59200 has a total call value of 91,409,550,000 versus a total put value of 3,600,000 Combined total value = 91,413,150,000
Strike 59300 has a total call value of 97,839,450,000 versus a total put value of 2,400,000 Combined total value = 97,841,850,000
Strike 59400 has a total call value of 104,292,450,000 versus a total put value of 1,350,000 Combined total value = 104,293,800,000
Strike 59500 has a total call value of 110,826,000,000 versus a total put value of 300,000 Combined total value = 110,826,300,000
Strike 59600 has a total call value of 117,364,350,000 versus a total put value of 0 Combined total value = 117,364,350,000
Strike 59700 has a total call value of 123,910,650,000 versus a total put value of 0 Combined total value = 123,910,650,000
Strike 59800 has a total call value of 130,459,050,000 versus a total put value of 0 Combined total value = 130,459,050,000
Strike 59900 has a total call value of 137,007,900,000 versus a total put value of 0 Combined total value = 137,007,900,000
Strike 60000 has a total call value of 143,600,700,000 versus a total put value of 0 Combined total value = 143,600,700,000
Strike 60100 has a total call value of 150,386,400,000 versus a total put value of 0 Combined total value = 150,386,400,000
Strike 60200 has a total call value of 157,172,100,000 versus a total put value of 0 Combined total value = 157,172,100,000
Strike 60300 has a total call value of 163,957,800,000 versus a total put value of 0 Combined total value = 163,957,800,000
Strike 60400 has a total call value of 170,743,500,000 versus a total put value of 0 Combined total value = 170,743,500,000
Strike 60500 has a total call value of 177,529,200,000 versus a total put value of 0 Combined total value = 177,529,200,000
Strike 60600 has a total call value of 184,314,900,000 versus a total put value of 0 Combined total value = 184,314,900,000
Strike 60700 has a total call value of 191,100,600,000 versus a total put value of 0 Combined total value = 191,100,600,000
Strike 60800 has a total call value of 197,886,300,000 versus a total put value of 0 Combined total value = 197,886,300,000
Strike 60900 has a total call value of 204,672,000,000 versus a total put value of 0 Combined total value = 204,672,000,000
Strike 61000 has a total call value of 211,461,000,000 versus a total put value of 0 Combined total value = 211,461,000,000
Max-Pain Table for Monthly Expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| AARTIIND | 424.6 | 470 |
| ABB | 6748 | 7000 |
| ABBOTINDIA | 27073.25 | 28000 |
| ABCAPITAL | 183.11 | 200 |
| ABFRL | 284.6 | 300 |
| ACC | 2022.6 | 2220 |
| ADANIENT | 2234.25 | 2600 |
| ADANIPORTS | 1126.5 | 1200 |
| ALKEM | 5588.15 | 5500 |
| AMBUJACEM | 490.75 | 540 |
| APOLLOHOSP | 6719.85 | 6900 |
| APOLLOTYRE | 480.55 | 480 |
| ASHOKLEY | 218.17 | 220 |
| ASIANPAINT | 2431.85 | 2540 |
| ASTRAL | 1713.9 | 1780 |
| ATUL | 7222.4 | 7500 |
| AUBANK | 592.7 | 590 |
| AUROPHARMA | 1219.05 | 1300 |
| AXISBANK | 1137.35 | 1150 |
| BAJAJ-AUTO | 9467.6 | 9700 |
| BAJAJFINSV | 1566.8 | 1620 |
| BAJFINANCE | 6465.4 | 6700 |
| BALKRISIND | 2734.2 | 2800 |
| BANDHANBNK | 166.05 | 180 |
| BANKBARODA | 228.55 | 240 |
| BATAINDIA | 1281.55 | 1310 |
| BEL | 274 | 285 |
| BERGEPAINT | 464.4 | 495 |
| BHARATFORG | 1294.35 | 1340 |
| BHARTIARTL | 1521.75 | 1540 |
| BHEL | 227.68 | 235 |
| BIOCON | 323.8 | 330 |
| BOSCHLTD | 34000 | 34000 |
| BPCL | 281.3 | 300 |
| BRITANNIA | 4789 | 5000 |
| BSOFT | 546.15 | 560 |
| CANBK | 94.48 | 100 |
| CANFINHOME | 821.5 | 830 |
| CHAMBLFERT | 454.55 | 480 |
| CHOLAFIN | 1205.35 | 1260 |
| CIPLA | 1461.8 | 1520 |
| COALINDIA | 404.9 | 425 |
| COFORGE | 8193.95 | 8000 |
| COLPAL | 2688.5 | 2850 |
| CONCOR | 767.6 | 810 |
| COROMANDEL | 1769.35 | 1720 |
| CROMPTON | 381.55 | 390 |
| CUB | 170.07 | 175 |
| CUMMINSIND | 3283.85 | 3400 |
| DABUR | 504.8 | 525 |
| DALBHARAT | 1773.45 | 1760 |
| DEEPAKNTR | 2613 | 2650 |
| DIVISLAB | 5950 | 5900 |
| DIXON | 14978.35 | 14750 |
| DLF | 774.1 | 780 |
| DRREDDY | 1191.25 | 1220 |
| EICHERMOT | 4878.7 | 4900 |
| ESCORTS | 3454.55 | 3600 |
| EXIDEIND | 414.4 | 440 |
| FEDERALBNK | 209.88 | 205 |
| GAIL | 187.51 | 195 |
| GLENMARK | 1463.95 | 1520 |
| GMRINFRA | 76.63 | 82 |
| GNFC | 555.7 | 570 |
| GODREJCP | 1179.95 | 1200 |
| GODREJPROP | 2694 | 2750 |
| GRANULES | 544.2 | 570 |
| GRASIM | 2539.95 | 2540 |
| GUJGASLTD | 451.8 | 470 |
| HAL | 3970.1 | 4200 |
| HAVELLS | 1630 | 1640 |
| HCLTECH | 1832 | 1820 |
| HDFCAMC | 4227.9 | 4300 |
| HDFCBANK | 1740.45 | 1740 |
| HDFCLIFE | 672.3 | 680 |
| HEROMOTOCO | 4753 | 4800 |
| HINDALCO | 646.45 | 650 |
| HINDCOPPER | 261.95 | 290 |
| HINDPETRO | 358.2 | 375 |
| HINDUNILVR | 2383.15 | 2480 |
| ICICIBANK | 1249.15 | 1260 |
| ICICIGI | 1810.45 | 1880 |
| ICICIPRULI | 677.15 | 690 |
| IDEA | 6.92 | 8 |
| IDFCFIRSTB | 62.98 | 66 |
| IEX | 161.19 | 170 |
| IGL | 311.25 | 330 |
| INDHOTEL | 785.4 | 760 |
| INDIAMART | 2250 | 2400 |
| INDIGO | 4057.9 | 4000 |
| INDUSINDBK | 975.3 | 1040 |
| INDUSTOWER | 328.9 | 340 |
| INFY | 1837.55 | 1800 |
| IOC | 130.55 | 140 |
| IPCALAB | 1569.75 | 1560 |
| IRCTC | 792.25 | 820 |
| ITC | 456.7 | 475 |
| JINDALSTEL | 870.05 | 900 |
| JKCEMENT | 4003.7 | 4000 |
| JSWSTEEL | 941.1 | 960 |
| JUBLFOOD | 611 | 620 |
| KOTAKBANK | 1735.65 | 1760 |
| LALPATHLAB | 3028.5 | 3100 |
| LAURUSLABS | 487.7 | 490 |
| LICHSGFIN | 609.75 | 630 |
| LT | 3478.9 | 3600 |
| LTF | 137.5 | 140 |
| LTIM | 5929.35 | 5900 |
| LTTS | 5170.1 | 5150 |
| LUPIN | 2037.75 | 2100 |
| M&M | 2926.3 | 2900 |
| M&MFIN | 256.75 | 265 |
| MANAPPURAM | 150.69 | 155 |
| MARICO | 589.65 | 600 |
| MARUTI | 10857.25 | 11000 |
| MCX | 6152.3 | 6200 |
| METROPOLIS | 2010.5 | 2060 |
| MFSL | 1172.05 | 1200 |
| MGL | 1118.45 | 1160 |
| MOTHERSON | 161.47 | 175 |
| MPHASIS | 2783.75 | 2850 |
| MRF | 123100.15 | 122500 |
| MUTHOOTFIN | 1901.65 | 1880 |
| NATIONALUM | 246.56 | 240 |
| NAUKRI | 7534.7 | 7700 |
| NAVINFLUOR | 3259.85 | 3400 |
| NESTLEIND | 2205.95 | 2280 |
| NMDC | 217.57 | 225 |
| NTPC | 354.95 | 370 |
| OBEROIRLTY | 1918.3 | 1960 |
| OFSS | 11126.75 | 11500 |
| ONGC | 241.4 | 250 |
| PAGEIND | 44377.9 | 45500 |
| PEL | 1052.9 | 1060 |
| PERSISTENT | 5727.3 | 5600 |
| PETRONET | 320.1 | 328 |
| PFC | 452.35 | 460 |
| PIDILITIND | 2930.85 | 3060 |
| PIIND | 4121.2 | 4200 |
| PNB | 96.47 | 102 |
| POLYCAB | 6409.55 | 6500 |
| POWERGRID | 324.6 | 320 |
| PVRINOX | 1444.6 | 1500 |
| RAMCOCEM | 913.75 | 900 |
| RBLBANK | 156.72 | 160 |
| RECLTD | 490.7 | 510 |
| RELIANCE | 1220.3 | 1290 |
| SAIL | 110.66 | 117.5 |
| SBICARD | 675.1 | 690 |
| SBILIFE | 1478.4 | 1520 |
| SBIN | 780 | 800 |
| SHREECEM | 24103.95 | 24500 |
| SHRIRAMFIN | 2809.8 | 2900 |
| SIEMENS | 6642.35 | 6800 |
| SRF | 2150.45 | 2260 |
| SUNPHARMA | 1776 | 1800 |
| SUNTV | 726.9 | 730 |
| SYNGENE | 844.35 | 870 |
| TATACHEM | 1050.3 | 1100 |
| TATACOMM | 1707.05 | 1780 |
| TATACONSUM | 910.45 | 950 |
| TATAMOTORS | 774.15 | 800 |
| TATAPOWER | 408.8 | 420 |
| TATASTEEL | 140.09 | 145 |
| TCS | 4073.7 | 4100 |
| TECHM | 1698.7 | 1680 |
| TITAN | 3181.3 | 3200 |
| TORNTPHARM | 3097.8 | 3150 |
| TRENT | 6428.9 | 6600 |
| TVSMOTOR | 2391.8 | 2450 |
| UBL | 1811 | 1880 |
| ULTRACEMCO | 10941.15 | 11000 |
| UNITDSPR | 1488.2 | 1480 |
| UPL | 556.8 | 540 |
| VEDL | 441 | 460 |
| VOLTAS | 1666.45 | 1700 |
| WIPRO | 556.8 | 560 |
| ZYDUSLIFE | 943.5 | 980 |
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.
