BHEL
Bhel
Max pain for BHEL
09 Sep 2024 04:12 PM IST
Max Pain for BHEL is 275
Strike 210 has a total call value of 0 versus a total put value of 192,181,500,000 Combined total value = 192,181,500,000
Strike 215 has a total call value of 0 versus a total put value of 176,592,937,500 Combined total value = 176,592,937,500
Strike 220 has a total call value of 0 versus a total put value of 161,004,375,000 Combined total value = 161,004,375,000
Strike 225 has a total call value of 0 versus a total put value of 145,624,500,000 Combined total value = 145,624,500,000
Strike 230 has a total call value of 0 versus a total put value of 130,244,625,000 Combined total value = 130,244,625,000
Strike 235 has a total call value of 1,312,500 versus a total put value of 115,584,000,000 Combined total value = 115,585,312,500
Strike 240 has a total call value of 2,625,000 versus a total put value of 101,084,812,500 Combined total value = 101,087,437,500
Strike 245 has a total call value of 91,875,000 versus a total put value of 87,731,437,500 Combined total value = 87,823,312,500
Strike 250 has a total call value of 182,437,500 versus a total put value of 74,577,562,500 Combined total value = 74,760,000,000
Strike 255 has a total call value of 742,875,000 versus a total put value of 62,821,500,000 Combined total value = 63,564,375,000
Strike 260 has a total call value of 1,338,750,000 versus a total put value of 51,520,875,000 Combined total value = 52,859,625,000
Strike 265 has a total call value of 2,752,312,500 versus a total put value of 41,979,000,000 Combined total value = 44,731,312,500
Strike 270 has a total call value of 4,906,125,000 versus a total put value of 33,080,250,000 Combined total value = 37,986,375,000
Strike 275 has a total call value of 9,476,250,000 versus a total put value of 26,206,687,500 Combined total value = 35,682,937,500
Strike 280 has a total call value of 15,562,312,500 versus a total put value of 20,380,500,000 Combined total value = 35,942,812,500
Strike 285 has a total call value of 25,134,375,000 versus a total put value of 15,589,875,000 Combined total value = 40,724,250,000
Strike 290 has a total call value of 36,129,187,500 versus a total put value of 11,102,437,500 Combined total value = 47,231,625,000
Strike 295 has a total call value of 50,995,875,000 versus a total put value of 7,919,625,000 Combined total value = 58,915,500,000
Strike 300 has a total call value of 68,187,000,000 versus a total put value of 5,256,562,500 Combined total value = 73,443,562,500
Strike 305 has a total call value of 91,672,875,000 versus a total put value of 3,911,250,000 Combined total value = 95,584,125,000
Strike 310 has a total call value of 116,307,187,500 versus a total put value of 2,678,812,500 Combined total value = 118,986,000,000
Strike 315 has a total call value of 143,008,687,500 versus a total put value of 1,937,250,000 Combined total value = 144,945,937,500
Strike 320 has a total call value of 170,261,437,500 versus a total put value of 1,274,437,500 Combined total value = 171,535,875,000
Strike 325 has a total call value of 199,404,187,500 versus a total put value of 828,187,500 Combined total value = 200,232,375,000
Strike 330 has a total call value of 228,810,750,000 versus a total put value of 563,062,500 Combined total value = 229,373,812,500
Strike 335 has a total call value of 259,422,187,500 versus a total put value of 297,937,500 Combined total value = 259,720,125,000
Strike 340 has a total call value of 290,121,562,500 versus a total put value of 32,812,500 Combined total value = 290,154,375,000
Strike 345 has a total call value of 321,360,375,000 versus a total put value of 15,750,000 Combined total value = 321,376,125,000
Strike 350 has a total call value of 352,599,187,500 versus a total put value of 0 Combined total value = 352,599,187,500
Strike 355 has a total call value of 384,987,750,000 versus a total put value of 0 Combined total value = 384,987,750,000
Strike 360 has a total call value of 417,376,312,500 versus a total put value of 0 Combined total value = 417,376,312,500
Strike 365 has a total call value of 449,936,812,500 versus a total put value of 0 Combined total value = 449,936,812,500
Strike 370 has a total call value of 482,497,312,500 versus a total put value of 0 Combined total value = 482,497,312,500
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.