BANKEX
Bank Index
Max pain for BANKEX
01 Jan 2025 11:17 AM IST
Max Pain for BANKEX is 58000
Strike 54100 has a total call value of 0 versus a total put value of 6,077,700,000 Combined total value = 6,077,700,000
Strike 54200 has a total call value of 0 versus a total put value of 5,911,950,000 Combined total value = 5,911,950,000
Strike 54300 has a total call value of 0 versus a total put value of 5,746,200,000 Combined total value = 5,746,200,000
Strike 54400 has a total call value of 0 versus a total put value of 5,580,450,000 Combined total value = 5,580,450,000
Strike 54500 has a total call value of 0 versus a total put value of 5,414,700,000 Combined total value = 5,414,700,000
Strike 54600 has a total call value of 0 versus a total put value of 5,248,950,000 Combined total value = 5,248,950,000
Strike 54700 has a total call value of 0 versus a total put value of 5,083,200,000 Combined total value = 5,083,200,000
Strike 54800 has a total call value of 0 versus a total put value of 4,917,450,000 Combined total value = 4,917,450,000
Strike 54900 has a total call value of 0 versus a total put value of 4,751,700,000 Combined total value = 4,751,700,000
Strike 55000 has a total call value of 0 versus a total put value of 4,585,950,000 Combined total value = 4,585,950,000
Strike 55100 has a total call value of 0 versus a total put value of 4,420,200,000 Combined total value = 4,420,200,000
Strike 55200 has a total call value of 0 versus a total put value of 4,254,450,000 Combined total value = 4,254,450,000
Strike 55300 has a total call value of 0 versus a total put value of 4,088,700,000 Combined total value = 4,088,700,000
Strike 55400 has a total call value of 0 versus a total put value of 3,922,950,000 Combined total value = 3,922,950,000
Strike 55500 has a total call value of 0 versus a total put value of 3,757,200,000 Combined total value = 3,757,200,000
Strike 55600 has a total call value of 0 versus a total put value of 3,591,450,000 Combined total value = 3,591,450,000
Strike 55700 has a total call value of 0 versus a total put value of 3,425,700,000 Combined total value = 3,425,700,000
Strike 55800 has a total call value of 0 versus a total put value of 3,259,950,000 Combined total value = 3,259,950,000
Strike 55900 has a total call value of 0 versus a total put value of 3,094,200,000 Combined total value = 3,094,200,000
Strike 56000 has a total call value of 0 versus a total put value of 2,928,450,000 Combined total value = 2,928,450,000
Strike 56100 has a total call value of 0 versus a total put value of 2,762,700,000 Combined total value = 2,762,700,000
Strike 56200 has a total call value of 0 versus a total put value of 2,596,950,000 Combined total value = 2,596,950,000
Strike 56300 has a total call value of 0 versus a total put value of 2,431,200,000 Combined total value = 2,431,200,000
Strike 56400 has a total call value of 0 versus a total put value of 2,265,450,000 Combined total value = 2,265,450,000
Strike 56500 has a total call value of 0 versus a total put value of 2,099,700,000 Combined total value = 2,099,700,000
Strike 56600 has a total call value of 0 versus a total put value of 1,933,950,000 Combined total value = 1,933,950,000
Strike 56700 has a total call value of 0 versus a total put value of 1,768,200,000 Combined total value = 1,768,200,000
Strike 56800 has a total call value of 0 versus a total put value of 1,602,450,000 Combined total value = 1,602,450,000
Strike 56900 has a total call value of 0 versus a total put value of 1,436,700,000 Combined total value = 1,436,700,000
Strike 57000 has a total call value of 0 versus a total put value of 1,270,950,000 Combined total value = 1,270,950,000
Strike 57100 has a total call value of 0 versus a total put value of 1,120,350,000 Combined total value = 1,120,350,000
Strike 57200 has a total call value of 0 versus a total put value of 969,750,000 Combined total value = 969,750,000
Strike 57300 has a total call value of 0 versus a total put value of 819,150,000 Combined total value = 819,150,000
Strike 57400 has a total call value of 0 versus a total put value of 672,300,000 Combined total value = 672,300,000
Strike 57500 has a total call value of 3,000,000 versus a total put value of 529,350,000 Combined total value = 532,350,000
Strike 57600 has a total call value of 25,050,000 versus a total put value of 422,400,000 Combined total value = 447,450,000
Strike 57700 has a total call value of 47,100,000 versus a total put value of 330,000,000 Combined total value = 377,100,000
Strike 57800 has a total call value of 75,150,000 versus a total put value of 252,300,000 Combined total value = 327,450,000
Strike 57900 has a total call value of 113,550,000 versus a total put value of 184,050,000 Combined total value = 297,600,000
Strike 58000 has a total call value of 155,550,000 versus a total put value of 119,700,000 Combined total value = 275,250,000
Strike 58100 has a total call value of 217,350,000 versus a total put value of 98,550,000 Combined total value = 315,900,000
Strike 58200 has a total call value of 283,800,000 versus a total put value of 79,650,000 Combined total value = 363,450,000
Strike 58300 has a total call value of 357,900,000 versus a total put value of 64,350,000 Combined total value = 422,250,000
Strike 58400 has a total call value of 434,700,000 versus a total put value of 49,050,000 Combined total value = 483,750,000
Strike 58500 has a total call value of 514,800,000 versus a total put value of 35,400,000 Combined total value = 550,200,000
Strike 58600 has a total call value of 605,100,000 versus a total put value of 29,100,000 Combined total value = 634,200,000
Strike 58700 has a total call value of 695,850,000 versus a total put value of 22,800,000 Combined total value = 718,650,000
Strike 58800 has a total call value of 786,600,000 versus a total put value of 16,500,000 Combined total value = 803,100,000
Strike 58900 has a total call value of 878,400,000 versus a total put value of 10,200,000 Combined total value = 888,600,000
Strike 59000 has a total call value of 973,050,000 versus a total put value of 3,900,000 Combined total value = 976,950,000
Strike 59100 has a total call value of 1,093,500,000 versus a total put value of 0 Combined total value = 1,093,500,000
Strike 59200 has a total call value of 1,215,900,000 versus a total put value of 0 Combined total value = 1,215,900,000
Strike 59300 has a total call value of 1,341,900,000 versus a total put value of 0 Combined total value = 1,341,900,000
Strike 59400 has a total call value of 1,467,900,000 versus a total put value of 0 Combined total value = 1,467,900,000
Strike 59500 has a total call value of 1,593,900,000 versus a total put value of 0 Combined total value = 1,593,900,000
Strike 59600 has a total call value of 1,738,050,000 versus a total put value of 0 Combined total value = 1,738,050,000
Strike 59700 has a total call value of 1,882,200,000 versus a total put value of 0 Combined total value = 1,882,200,000
Strike 59800 has a total call value of 2,026,350,000 versus a total put value of 0 Combined total value = 2,026,350,000
Strike 59900 has a total call value of 2,170,500,000 versus a total put value of 0 Combined total value = 2,170,500,000
Strike 60000 has a total call value of 2,314,650,000 versus a total put value of 0 Combined total value = 2,314,650,000
Strike 60100 has a total call value of 2,508,150,000 versus a total put value of 0 Combined total value = 2,508,150,000
Strike 60200 has a total call value of 2,701,650,000 versus a total put value of 0 Combined total value = 2,701,650,000
Strike 60300 has a total call value of 2,895,150,000 versus a total put value of 0 Combined total value = 2,895,150,000
Strike 60400 has a total call value of 3,088,650,000 versus a total put value of 0 Combined total value = 3,088,650,000
Strike 60500 has a total call value of 3,282,150,000 versus a total put value of 0 Combined total value = 3,282,150,000
Strike 60600 has a total call value of 3,475,650,000 versus a total put value of 0 Combined total value = 3,475,650,000
Strike 60700 has a total call value of 3,669,150,000 versus a total put value of 0 Combined total value = 3,669,150,000
Strike 60800 has a total call value of 3,862,650,000 versus a total put value of 0 Combined total value = 3,862,650,000
Strike 60900 has a total call value of 4,056,150,000 versus a total put value of 0 Combined total value = 4,056,150,000
Strike 61000 has a total call value of 4,249,650,000 versus a total put value of 0 Combined total value = 4,249,650,000
Max-Pain Table for Monthly Expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| AARTIIND | 415.95 | 420 |
| ABB | 6900 | 7000 |
| ABBOTINDIA | 30049 | 29500 |
| ABCAPITAL | 184 | 190 |
| ABFRL | 284.8 | 290 |
| ACC | 2070.15 | 2200 |
| ADANIENSOL | 810.85 | 800 |
| ADANIENT | 2580 | 2580 |
| ADANIGREEN | 1049.65 | 1060 |
| ADANIPORTS | 1234.5 | 1240 |
| ALKEM | 5609 | 5550 |
| AMBUJACEM | 551.8 | 550 |
| ANGELONE | 2976.35 | 2950 |
| APLAPOLLO | 1601.55 | 1580 |
| APOLLOHOSP | 7427.95 | 7350 |
| APOLLOTYRE | 526.65 | 530 |
| ASHOKLEY | 236 | 230 |
| ASIANPAINT | 2344 | 2340 |
| ASTRAL | 1650 | 1680 |
| ATGL | 734.5 | 720 |
| ATUL | 7009.6 | 7000 |
| AUBANK | 568.3 | 560 |
| AUROPHARMA | 1348.8 | 1300 |
| AXISBANK | 1086 | 1100 |
| BAJAJ-AUTO | 9100 | 9000 |
| BAJAJFINSV | 1700 | 1640 |
| BAJFINANCE | 7389.75 | 7200 |
| BALKRISIND | 2898.45 | 2850 |
| BANDHANBNK | 160.8 | 162.5 |
| BANKBARODA | 242.5 | 250 |
| BANKINDIA | 104.19 | 104 |
| BATAINDIA | 1424 | 1380 |
| BEL | 296.5 | 300 |
| BERGEPAINT | 457.4 | 450 |
| BHARATFORG | 1318.2 | 1320 |
| BHARTIARTL | 1615 | 1600 |
| BHEL | 233 | 240 |
| BIOCON | 376.95 | 360 |
| BOSCHLTD | 34600.75 | 34000 |
| BPCL | 296 | 300 |
| BRITANNIA | 4800 | 4800 |
| BSE | 5493.55 | 5400 |
| BSOFT | 566 | 580 |
| CAMS | 5198.05 | 5000 |
| CANBK | 101.51 | 102 |
| CANFINHOME | 731 | 740 |
| CDSL | 1810 | 1800 |
| CESC | 190.5 | 190 |
| CGPOWER | 747.9 | 740 |
| CHAMBLFERT | 507 | 500 |
| CHOLAFIN | 1279 | 1240 |
| CIPLA | 1539 | 1520 |
| COALINDIA | 393 | 395 |
| COFORGE | 9730 | 9500 |
| COLPAL | 2819.8 | 2750 |
| CONCOR | 789.7 | 800 |
| COROMANDEL | 1940.2 | 1900 |
| CROMPTON | 372.1 | 380 |
| CUB | 176.8 | 175 |
| CUMMINSIND | 3275 | 3300 |
| CYIENT | 1798 | 1860 |
| DABUR | 515 | 510 |
| DALBHARAT | 1814 | 1800 |
| DEEPAKNTR | 2515.2 | 2550 |
| DELHIVERY | 350.05 | 350 |
| DIVISLAB | 6159 | 6000 |
| DIXON | 18398 | 18000 |
| DLF | 834.6 | 840 |
| DMART | 3840 | 3600 |
| DRREDDY | 1375.05 | 1370 |
| EICHERMOT | 5325 | 5150 |
| ESCORTS | 3350 | 3300 |
| EXIDEIND | 431.6 | 430 |
| FEDERALBNK | 205 | 202.5 |
| GAIL | 191.69 | 200 |
| GLENMARK | 1641 | 1600 |
| GMRAIRPORT | 78.41 | 80 |
| GMRINFRA | 0 | 32 |
| GNFC | 574.05 | 580 |
| GODREJCP | 1100 | 1080 |
| GODREJPROP | 2817 | 2850 |
| GRANULES | 613 | 590 |
| GRASIM | 2541.2 | 2520 |
| GUJGASLTD | 503.05 | 505 |
| HAL | 4240 | 4300 |
| HAVELLS | 1715 | 1700 |
| HCLTECH | 1980 | 1920 |
| HDFCAMC | 4298 | 4250 |
| HDFCBANK | 1791 | 1800 |
| HDFCLIFE | 619 | 630 |
| HEROMOTOCO | 4265.45 | 4300 |
| HFCL | 114.95 | 115 |
| HINDALCO | 599 | 610 |
| HINDCOPPER | 249.92 | 255 |
| HINDPETRO | 413.5 | 415 |
| HINDUNILVR | 2381.85 | 2380 |
| HUDCO | 242.85 | 235 |
| ICICIBANK | 1286.2 | 1300 |
| ICICIGI | 1842.5 | 1840 |
| ICICIPRULI | 663.3 | 660 |
| IDEA | 8.14 | 8 |
| IDFCFIRSTB | 64.36 | 65 |
| IEX | 181.35 | 185 |
| IGL | 428 | 400 |
| INDHOTEL | 878 | 870 |
| INDIAMART | 2319 | 2300 |
| INDIANB | 525.65 | 540 |
| INDIGO | 4563.95 | 4600 |
| INDUSINDBK | 993 | 980 |
| INDUSTOWER | 346 | 350 |
| INFY | 1952.95 | 1940 |
| IOC | 137.72 | 140 |
| IPCALAB | 1744.05 | 1660 |
| IRB | 59.94 | 58 |
| IRCTC | 791 | 800 |
| IRFC | 153.4 | 150 |
| ITC | 490.25 | 480 |
| JINDALSTEL | 940.5 | 940 |
| JIOFIN | 306.7 | 310 |
| JKCEMENT | 4745.35 | 4650 |
| JSL | 683.85 | 700 |
| JSWENERGY | 642.4 | 650 |
| JSWSTEEL | 914 | 930 |
| JUBLFOOD | 754.95 | 730 |
| KALYANKJIL | 790.9 | 750 |
| KEI | 4500 | 4400 |
| KOTAKBANK | 1851 | 1800 |
| KPITTECH | 1488.9 | 1460 |
| LALPATHLAB | 3002.05 | 3000 |
| LAURUSLABS | 613 | 590 |
| LICHSGFIN | 608.45 | 600 |
| LICI | 904 | 900 |
| LODHA | 1369.9 | 1400 |
| LT | 3708 | 3700 |
| LTF | 142.85 | 140 |
| LTIM | 5780 | 5750 |
| LTTS | 4800.05 | 4750 |
| LUPIN | 2388.85 | 2320 |
| M&M | 3215 | 3100 |
| M&MFIN | 276.9 | 270 |
| MANAPPURAM | 189.17 | 190 |
| MARICO | 657 | 640 |
| MARUTI | 11849.95 | 11500 |
| MAXHEALTH | 1160 | 1140 |
| MCX | 6339.35 | 6400 |
| METROPOLIS | 2060.15 | 2080 |
| MFSL | 1124.55 | 1100 |
| MGL | 1291.95 | 1280 |
| MOTHERSON | 161 | 160 |
| MPHASIS | 2899 | 2900 |
| MRF | 129300 | 130000 |
| MUTHOOTFIN | 2250 | 2200 |
| NATIONALUM | 216.55 | 220 |
| NAUKRI | 8909 | 8700 |
| NAVINFLUOR | 3301.7 | 3400 |
| NCC | 279.65 | 280 |
| NESTLEIND | 2200.2 | 2200 |
| NHPC | 83.4 | 82 |
| NMDC | 67.94 | 70 |
| NTPC | 338.05 | 335 |
| NYKAA | 165.32 | 160 |
| OBEROIRLTY | 2280.2 | 2300 |
| OFSS | 12710 | 12500 |
| OIL | 468 | 450 |
| ONGC | 248.45 | 245 |
| PAGEIND | 48450 | 47500 |
| PAYTM | 983.6 | 1000 |
| PEL | 1125 | 1120 |
| PERSISTENT | 6499 | 6400 |
| PETRONET | 331.55 | 335 |
| PFC | 463.5 | 460 |
| PIDILITIND | 2936 | 2920 |
| PIIND | 3729.95 | 3750 |
| PNB | 105.45 | 105 |
| POLICYBZR | 2212 | 2100 |
| POLYCAB | 7400 | 7200 |
| POONAWALLA | 324.35 | 320 |
| POWERGRID | 316.35 | 315 |
| PRESTIGE | 1662.45 | 1700 |
| PVRINOX | 1326.15 | 1320 |
| RAMCOCEM | 988 | 970 |
| RBLBANK | 159.4 | 160 |
| RECLTD | 522.05 | 520 |
| RELIANCE | 1243.9 | 1250 |
| SAIL | 113.9 | 120 |
| SBICARD | 700 | 700 |
| SBILIFE | 1428.25 | 1420 |
| SBIN | 801.2 | 810 |
| SHREECEM | 26850.95 | 26000 |
| SHRIRAMFIN | 3060 | 3000 |
| SIEMENS | 6720 | 6700 |
| SJVN | 109.5 | 110 |
| SONACOMS | 598 | 600 |
| SRF | 2234 | 2260 |
| SUNPHARMA | 1878 | 1860 |
| SUNTV | 696.1 | 690 |
| SUPREMEIND | 4800 | 4700 |
| SYNGENE | 872.3 | 860 |
| TATACHEM | 1038 | 1060 |
| TATACOMM | 1743 | 1720 |
| TATACONSUM | 932.7 | 920 |
| TATAELXSI | 6710 | 6700 |
| TATAMOTORS | 768 | 760 |
| TATAPOWER | 396 | 405 |
| TATASTEEL | 138.18 | 142 |
| TCS | 4179.95 | 4200 |
| TECHM | 1712.2 | 1720 |
| TIINDIA | 3672.05 | 3550 |
| TITAN | 3395 | 3400 |
| TORNTPHARM | 3450 | 3400 |
| TRENT | 7350 | 7100 |
| TVSMOTOR | 2514 | 2450 |
| UBL | 2130 | 2040 |
| ULTRACEMCO | 11799 | 11500 |
| UNIONBANK | 122.6 | 120 |
| UNITDSPR | 1700 | 1600 |
| UPL | 508.5 | 510 |
| VBL | 654 | 640 |
| VEDL | 450.5 | 470 |
| VOLTAS | 1830 | 1780 |
| WIPRO | 303.3 | 300 |
| YESBANK | 19.62 | 20 |
| ZOMATO | 285 | 260 |
| ZYDUSLIFE | 992 | 1000 |
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.
