BHEL
BHEL
Max pain for BHEL
26 Jul 2024 04:12 PM IST
Max Pain for BHEL is 310
Strike 210 has a total call value of 0 versus a total put value of 155,204,437,500 Combined total value = 155,204,437,500
Strike 215 has a total call value of 0 versus a total put value of 145,919,812,500 Combined total value = 145,919,812,500
Strike 220 has a total call value of 0 versus a total put value of 136,635,187,500 Combined total value = 136,635,187,500
Strike 225 has a total call value of 0 versus a total put value of 127,350,562,500 Combined total value = 127,350,562,500
Strike 230 has a total call value of 0 versus a total put value of 118,065,937,500 Combined total value = 118,065,937,500
Strike 235 has a total call value of 0 versus a total put value of 108,781,312,500 Combined total value = 108,781,312,500
Strike 240 has a total call value of 0 versus a total put value of 99,496,687,500 Combined total value = 99,496,687,500
Strike 245 has a total call value of 0 versus a total put value of 90,349,875,000 Combined total value = 90,349,875,000
Strike 250 has a total call value of 0 versus a total put value of 81,203,062,500 Combined total value = 81,203,062,500
Strike 255 has a total call value of 51,187,500 versus a total put value of 72,726,937,500 Combined total value = 72,778,125,000
Strike 260 has a total call value of 102,375,000 versus a total put value of 64,302,000,000 Combined total value = 64,404,375,000
Strike 265 has a total call value of 153,562,500 versus a total put value of 56,472,937,500 Combined total value = 56,626,500,000
Strike 270 has a total call value of 204,750,000 versus a total put value of 48,797,437,500 Combined total value = 49,002,187,500
Strike 275 has a total call value of 255,937,500 versus a total put value of 41,804,437,500 Combined total value = 42,060,375,000
Strike 280 has a total call value of 316,312,500 versus a total put value of 35,020,125,000 Combined total value = 35,336,437,500
Strike 285 has a total call value of 458,062,500 versus a total put value of 29,075,812,500 Combined total value = 29,533,875,000
Strike 290 has a total call value of 601,125,000 versus a total put value of 23,355,937,500 Combined total value = 23,957,062,500
Strike 295 has a total call value of 849,187,500 versus a total put value of 18,515,437,500 Combined total value = 19,364,625,000
Strike 300 has a total call value of 1,141,875,000 versus a total put value of 13,942,687,500 Combined total value = 15,084,562,500
Strike 305 has a total call value of 2,068,500,000 versus a total put value of 10,564,312,500 Combined total value = 12,632,812,500
Strike 310 has a total call value of 3,236,625,000 versus a total put value of 7,398,562,500 Combined total value = 10,635,187,500
Strike 315 has a total call value of 5,685,750,000 versus a total put value of 5,381,250,000 Combined total value = 11,067,000,000
Strike 320 has a total call value of 8,981,437,500 versus a total put value of 3,644,812,500 Combined total value = 12,626,250,000
Strike 325 has a total call value of 14,703,937,500 versus a total put value of 2,518,687,500 Combined total value = 17,222,625,000
Strike 330 has a total call value of 20,771,625,000 versus a total put value of 1,479,187,500 Combined total value = 22,250,812,500
Strike 335 has a total call value of 28,428,750,000 versus a total put value of 950,250,000 Combined total value = 29,379,000,000
Strike 340 has a total call value of 36,416,625,000 versus a total put value of 460,687,500 Combined total value = 36,877,312,500
Strike 345 has a total call value of 45,278,625,000 versus a total put value of 262,500,000 Combined total value = 45,541,125,000
Strike 350 has a total call value of 54,285,000,000 versus a total put value of 78,750,000 Combined total value = 54,363,750,000
Strike 355 has a total call value of 64,589,437,500 versus a total put value of 39,375,000 Combined total value = 64,628,812,500
Strike 360 has a total call value of 74,993,625,000 versus a total put value of 0 Combined total value = 74,993,625,000
Strike 365 has a total call value of 86,174,812,500 versus a total put value of 0 Combined total value = 86,174,812,500
Strike 370 has a total call value of 97,442,625,000 versus a total put value of 0 Combined total value = 97,442,625,000
Strike 375 has a total call value of 109,063,500,000 versus a total put value of 0 Combined total value = 109,063,500,000
Strike 380 has a total call value of 120,684,375,000 versus a total put value of 0 Combined total value = 120,684,375,000
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.