BEL
Bharat Electronics Ltd
Max pain for BEL
21 Nov 2024 02:12 PM IST
Max Pain for BEL is 285
Strike 220 has a total call value of 0 versus a total put value of 217,948,050,000 Combined total value = 217,948,050,000
Strike 225 has a total call value of 0 versus a total put value of 198,556,650,000 Combined total value = 198,556,650,000
Strike 230 has a total call value of 0 versus a total put value of 179,165,250,000 Combined total value = 179,165,250,000
Strike 235 has a total call value of 0 versus a total put value of 160,051,725,000 Combined total value = 160,051,725,000
Strike 240 has a total call value of 0 versus a total put value of 141,045,075,000 Combined total value = 141,045,075,000
Strike 245 has a total call value of 9,975,000 versus a total put value of 122,763,750,000 Combined total value = 122,773,725,000
Strike 250 has a total call value of 28,500,000 versus a total put value of 104,677,650,000 Combined total value = 104,706,150,000
Strike 255 has a total call value of 209,475,000 versus a total put value of 88,639,275,000 Combined total value = 88,848,750,000
Strike 260 has a total call value of 465,975,000 versus a total put value of 73,054,050,000 Combined total value = 73,520,025,000
Strike 265 has a total call value of 966,150,000 versus a total put value of 59,013,525,000 Combined total value = 59,979,675,000
Strike 270 has a total call value of 1,593,150,000 versus a total put value of 45,993,300,000 Combined total value = 47,586,450,000
Strike 275 has a total call value of 2,944,050,000 versus a total put value of 35,340,000,000 Combined total value = 38,284,050,000
Strike 280 has a total call value of 5,312,400,000 versus a total put value of 26,258,475,000 Combined total value = 31,570,875,000
Strike 285 has a total call value of 10,137,450,000 versus a total put value of 19,355,775,000 Combined total value = 29,493,225,000
Strike 290 has a total call value of 17,235,375,000 versus a total put value of 13,722,750,000 Combined total value = 30,958,125,000
Strike 295 has a total call value of 27,931,425,000 versus a total put value of 9,497,625,000 Combined total value = 37,429,050,000
Strike 300 has a total call value of 40,652,400,000 versus a total put value of 5,791,200,000 Combined total value = 46,443,600,000
Strike 305 has a total call value of 60,477,000,000 versus a total put value of 3,739,200,000 Combined total value = 64,216,200,000
Strike 310 has a total call value of 81,988,800,000 versus a total put value of 2,314,200,000 Combined total value = 84,303,000,000
Strike 315 has a total call value of 106,223,775,000 versus a total put value of 1,442,100,000 Combined total value = 107,665,875,000
Strike 320 has a total call value of 131,377,875,000 versus a total put value of 669,750,000 Combined total value = 132,047,625,000
Strike 325 has a total call value of 159,181,050,000 versus a total put value of 334,875,000 Combined total value = 159,515,925,000
Strike 330 has a total call value of 187,624,050,000 versus a total put value of 0 Combined total value = 187,624,050,000
Strike 335 has a total call value of 218,270,100,000 versus a total put value of 0 Combined total value = 218,270,100,000
Strike 340 has a total call value of 248,990,250,000 versus a total put value of 0 Combined total value = 248,990,250,000
Max-Pain Table for Monthly Expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| AARTIIND | 425.85 | 470 |
| ABB | 6757.9 | 7000 |
| ABBOTINDIA | 26994.4 | 28000 |
| ABCAPITAL | 183.77 | 200 |
| ABFRL | 285.3 | 300 |
| ACC | 2037.85 | 2220 |
| ADANIENT | 2287 | 2640 |
| ADANIPORTS | 1135.35 | 1200 |
| ALKEM | 5578.65 | 5500 |
| AMBUJACEM | 496.15 | 540 |
| APOLLOHOSP | 6723.65 | 6900 |
| APOLLOTYRE | 484.65 | 480 |
| ASHOKLEY | 217.58 | 220 |
| ASIANPAINT | 2428.55 | 2540 |
| ASTRAL | 1713.75 | 1780 |
| ATUL | 7251.5 | 7500 |
| AUBANK | 593.55 | 590 |
| AUROPHARMA | 1219.8 | 1300 |
| AXISBANK | 1141.1 | 1150 |
| BAJAJ-AUTO | 9492 | 9700 |
| BAJAJFINSV | 1572.75 | 1620 |
| BAJFINANCE | 6475 | 6700 |
| BALKRISIND | 2741.8 | 2800 |
| BANDHANBNK | 166.49 | 177.5 |
| BANKBARODA | 229.8 | 240 |
| BATAINDIA | 1281.25 | 1310 |
| BEL | 275 | 285 |
| BERGEPAINT | 466.65 | 495 |
| BHARATFORG | 1298.2 | 1340 |
| BHARTIARTL | 1521.75 | 1540 |
| BHEL | 228.05 | 235 |
| BIOCON | 324.8 | 330 |
| BOSCHLTD | 34086 | 34000 |
| BPCL | 282.35 | 300 |
| BRITANNIA | 4772 | 5000 |
| BSOFT | 545.4 | 560 |
| CANBK | 94.86 | 100 |
| CANFINHOME | 823.6 | 830 |
| CHAMBLFERT | 459.95 | 480 |
| CHOLAFIN | 1210.35 | 1240 |
| CIPLA | 1459 | 1520 |
| COALINDIA | 405.7 | 425 |
| COFORGE | 8213.2 | 8000 |
| COLPAL | 2687.1 | 2800 |
| CONCOR | 769 | 810 |
| COROMANDEL | 1778 | 1720 |
| CROMPTON | 381.65 | 390 |
| CUB | 170.39 | 175 |
| CUMMINSIND | 3292 | 3400 |
| DABUR | 504.55 | 525 |
| DALBHARAT | 1778.45 | 1760 |
| DEEPAKNTR | 2624.15 | 2650 |
| DIVISLAB | 5956.85 | 5900 |
| DIXON | 15023.1 | 14750 |
| DLF | 777.35 | 780 |
| DRREDDY | 1193.3 | 1220 |
| EICHERMOT | 4905 | 4900 |
| ESCORTS | 3459.05 | 3600 |
| EXIDEIND | 416.4 | 440 |
| FEDERALBNK | 210.7 | 205 |
| GAIL | 188.82 | 197.5 |
| GLENMARK | 1466.4 | 1520 |
| GMRINFRA | 77.04 | 82 |
| GNFC | 556.9 | 570 |
| GODREJCP | 1180.2 | 1200 |
| GODREJPROP | 2712.45 | 2750 |
| GRANULES | 546.6 | 580 |
| GRASIM | 2542.95 | 2540 |
| GUJGASLTD | 454 | 480 |
| HAL | 3994 | 4200 |
| HAVELLS | 1632.05 | 1640 |
| HCLTECH | 1833 | 1820 |
| HDFCAMC | 4206 | 4300 |
| HDFCBANK | 1742.6 | 1740 |
| HDFCLIFE | 674.55 | 680 |
| HEROMOTOCO | 4756.3 | 4800 |
| HINDALCO | 645.7 | 650 |
| HINDCOPPER | 263.4 | 290 |
| HINDPETRO | 360.3 | 375 |
| HINDUNILVR | 2380 | 2480 |
| ICICIBANK | 1252.15 | 1260 |
| ICICIGI | 1818.05 | 1880 |
| ICICIPRULI | 679.95 | 690 |
| IDEA | 6.98 | 8 |
| IDFCFIRSTB | 63.18 | 66 |
| IEX | 161.37 | 170 |
| IGL | 311.85 | 330 |
| INDHOTEL | 791.25 | 760 |
| INDIAMART | 2251 | 2400 |
| INDIGO | 4063.25 | 4000 |
| INDUSINDBK | 974.2 | 1040 |
| INDUSTOWER | 330.35 | 340 |
| INFY | 1829.85 | 1800 |
| IOC | 131.12 | 140 |
| IPCALAB | 1569.15 | 1560 |
| IRCTC | 796.95 | 820 |
| ITC | 455.75 | 475 |
| JINDALSTEL | 874.5 | 900 |
| JKCEMENT | 4010.3 | 4000 |
| JSWSTEEL | 943.5 | 960 |
| JUBLFOOD | 610.95 | 620 |
| KOTAKBANK | 1735.45 | 1760 |
| LALPATHLAB | 3023.5 | 3100 |
| LAURUSLABS | 488.9 | 490 |
| LICHSGFIN | 611.7 | 630 |
| LT | 3493.55 | 3600 |
| LTF | 138.06 | 140 |
| LTIM | 5920.3 | 5900 |
| LTTS | 5179.35 | 5150 |
| LUPIN | 2040.95 | 2100 |
| M&M | 2943.3 | 2900 |
| M&MFIN | 257.15 | 265 |
| MANAPPURAM | 150.94 | 155 |
| MARICO | 590.4 | 600 |
| MARUTI | 10910.9 | 11000 |
| MCX | 6186.9 | 6200 |
| METROPOLIS | 2010.95 | 2060 |
| MFSL | 1176.9 | 1200 |
| MGL | 1118.1 | 1160 |
| MOTHERSON | 161.84 | 175 |
| MPHASIS | 2777.1 | 2850 |
| MRF | 123168.8 | 122500 |
| MUTHOOTFIN | 1908 | 1880 |
| NATIONALUM | 248.74 | 240 |
| NAUKRI | 7543.3 | 7700 |
| NAVINFLUOR | 3267.15 | 3400 |
| NESTLEIND | 2205.65 | 2280 |
| NMDC | 218.51 | 225 |
| NTPC | 356.55 | 370 |
| OBEROIRLTY | 1934.5 | 1960 |
| OFSS | 11141.8 | 11500 |
| ONGC | 242.15 | 250 |
| PAGEIND | 44595.25 | 45500 |
| PEL | 1052.75 | 1060 |
| PERSISTENT | 5733.3 | 5600 |
| PETRONET | 320.8 | 328 |
| PFC | 452.8 | 460 |
| PIDILITIND | 2943.35 | 3060 |
| PIIND | 4130.3 | 4200 |
| PNB | 96.84 | 102 |
| POLYCAB | 6425.8 | 6500 |
| POWERGRID | 322.15 | 320 |
| PVRINOX | 1445.05 | 1500 |
| RAMCOCEM | 916.85 | 900 |
| RBLBANK | 157.76 | 160 |
| RECLTD | 490.3 | 510 |
| RELIANCE | 1220.2 | 1290 |
| SAIL | 111.17 | 115 |
| SBICARD | 674 | 690 |
| SBILIFE | 1483.4 | 1520 |
| SBIN | 781 | 800 |
| SHREECEM | 24251.3 | 24500 |
| SHRIRAMFIN | 2803.15 | 2900 |
| SIEMENS | 6685 | 6800 |
| SRF | 2155.55 | 2260 |
| SUNPHARMA | 1764.5 | 1800 |
| SUNTV | 728.45 | 730 |
| SYNGENE | 844.5 | 870 |
| TATACHEM | 1056.95 | 1100 |
| TATACOMM | 1711.45 | 1780 |
| TATACONSUM | 911.65 | 950 |
| TATAMOTORS | 777.9 | 800 |
| TATAPOWER | 410.35 | 420 |
| TATASTEEL | 140.4 | 145 |
| TCS | 4056.85 | 4100 |
| TECHM | 1698.5 | 1680 |
| TITAN | 3165.75 | 3200 |
| TORNTPHARM | 3096.85 | 3150 |
| TRENT | 6460.55 | 6600 |
| TVSMOTOR | 2399 | 2450 |
| UBL | 1820.95 | 1880 |
| ULTRACEMCO | 10928.25 | 11000 |
| UNITDSPR | 1491.15 | 1480 |
| UPL | 563.5 | 540 |
| VEDL | 442.75 | 460 |
| VOLTAS | 1672.4 | 1700 |
| WIPRO | 557 | 560 |
| ZYDUSLIFE | 941.75 | 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.
