BHEL
Bhel
Max pain for BHEL
21 Nov 2024 02:22 PM IST
Max Pain for BHEL is 235
Strike 180 has a total call value of 0 versus a total put value of 133,825,125,000 Combined total value = 133,825,125,000
Strike 185 has a total call value of 0 versus a total put value of 119,698,687,500 Combined total value = 119,698,687,500
Strike 190 has a total call value of 0 versus a total put value of 105,662,812,500 Combined total value = 105,662,812,500
Strike 195 has a total call value of 0 versus a total put value of 91,856,625,000 Combined total value = 91,856,625,000
Strike 200 has a total call value of 0 versus a total put value of 78,227,625,000 Combined total value = 78,227,625,000
Strike 205 has a total call value of 66,937,500 versus a total put value of 66,337,687,500 Combined total value = 66,404,625,000
Strike 210 has a total call value of 148,312,500 versus a total put value of 54,803,437,500 Combined total value = 54,951,750,000
Strike 215 has a total call value of 366,187,500 versus a total put value of 44,862,562,500 Combined total value = 45,228,750,000
Strike 220 has a total call value of 817,687,500 versus a total put value of 36,046,500,000 Combined total value = 36,864,187,500
Strike 225 has a total call value of 1,953,000,000 versus a total put value of 28,877,625,000 Combined total value = 30,830,625,000
Strike 230 has a total call value of 4,143,562,500 versus a total put value of 22,956,937,500 Combined total value = 27,100,500,000
Strike 235 has a total call value of 8,426,250,000 versus a total put value of 18,486,562,500 Combined total value = 26,912,812,500
Strike 240 has a total call value of 14,248,500,000 versus a total put value of 14,852,250,000 Combined total value = 29,100,750,000
Strike 245 has a total call value of 22,220,625,000 versus a total put value of 11,947,687,500 Combined total value = 34,168,312,500
Strike 250 has a total call value of 31,308,375,000 versus a total put value of 9,418,500,000 Combined total value = 40,726,875,000
Strike 255 has a total call value of 44,442,562,500 versus a total put value of 7,692,562,500 Combined total value = 52,135,125,000
Strike 260 has a total call value of 58,351,125,000 versus a total put value of 6,051,937,500 Combined total value = 64,403,062,500
Strike 265 has a total call value of 73,930,500,000 versus a total put value of 4,861,500,000 Combined total value = 78,792,000,000
Strike 270 has a total call value of 90,036,187,500 versus a total put value of 3,671,062,500 Combined total value = 93,707,250,000
Strike 275 has a total call value of 107,395,312,500 versus a total put value of 2,844,187,500 Combined total value = 110,239,500,000
Strike 280 has a total call value of 125,076,000,000 versus a total put value of 2,017,312,500 Combined total value = 127,093,312,500
Strike 285 has a total call value of 143,894,625,000 versus a total put value of 1,451,625,000 Combined total value = 145,346,250,000
Strike 290 has a total call value of 162,925,875,000 versus a total put value of 885,937,500 Combined total value = 163,811,812,500
Strike 295 has a total call value of 182,449,312,500 versus a total put value of 456,750,000 Combined total value = 182,906,062,500
Strike 300 has a total call value of 201,972,750,000 versus a total put value of 27,562,500 Combined total value = 202,000,312,500
Strike 305 has a total call value of 222,484,500,000 versus a total put value of 0 Combined total value = 222,484,500,000
Strike 310 has a total call value of 243,054,000,000 versus a total put value of 0 Combined total value = 243,054,000,000
Strike 315 has a total call value of 263,623,500,000 versus a total put value of 0 Combined total value = 263,623,500,000
Strike 320 has a total call value of 284,193,000,000 versus a total put value of 0 Combined total value = 284,193,000,000
Strike 325 has a total call value of 305,168,062,500 versus a total put value of 0 Combined total value = 305,168,062,500
Strike 330 has a total call value of 326,143,125,000 versus a total put value of 0 Combined total value = 326,143,125,000
Max-Pain Table for Monthly Expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| AARTIIND | 425.95 | 470 |
| ABB | 6756.1 | 7000 |
| ABBOTINDIA | 27000.15 | 28000 |
| ABCAPITAL | 184.13 | 200 |
| ABFRL | 284.9 | 300 |
| ACC | 2042.3 | 2220 |
| ADANIENT | 2285.6 | 2620 |
| ADANIPORTS | 1136.5 | 1200 |
| ALKEM | 5584.7 | 5500 |
| AMBUJACEM | 494.15 | 540 |
| APOLLOHOSP | 6721.65 | 6900 |
| APOLLOTYRE | 483.2 | 480 |
| ASHOKLEY | 217.57 | 220 |
| ASIANPAINT | 2430 | 2540 |
| ASTRAL | 1714.5 | 1780 |
| ATUL | 7253.25 | 7500 |
| AUBANK | 594.25 | 590 |
| AUROPHARMA | 1218.55 | 1300 |
| AXISBANK | 1141.2 | 1150 |
| BAJAJ-AUTO | 9469.15 | 9700 |
| BAJAJFINSV | 1572 | 1620 |
| BAJFINANCE | 6474.5 | 6700 |
| BALKRISIND | 2737 | 2800 |
| BANDHANBNK | 166.49 | 180 |
| BANKBARODA | 229.5 | 240 |
| BATAINDIA | 1280.4 | 1310 |
| BEL | 274.45 | 285 |
| BERGEPAINT | 465.4 | 495 |
| BHARATFORG | 1295.15 | 1340 |
| BHARTIARTL | 1521.05 | 1540 |
| BHEL | 227.78 | 235 |
| BIOCON | 324.45 | 330 |
| BOSCHLTD | 34067 | 34000 |
| BPCL | 282.1 | 300 |
| BRITANNIA | 4759.4 | 5000 |
| BSOFT | 545.3 | 560 |
| CANBK | 94.9 | 100 |
| CANFINHOME | 821.55 | 830 |
| CHAMBLFERT | 456.15 | 480 |
| CHOLAFIN | 1209.55 | 1240 |
| CIPLA | 1460.55 | 1520 |
| COALINDIA | 404.75 | 425 |
| COFORGE | 8207 | 8000 |
| COLPAL | 2687.65 | 2800 |
| CONCOR | 768.55 | 810 |
| COROMANDEL | 1773.05 | 1720 |
| CROMPTON | 381.2 | 390 |
| CUB | 170.31 | 175 |
| CUMMINSIND | 3292.35 | 3400 |
| DABUR | 505.05 | 525 |
| DALBHARAT | 1779.1 | 1760 |
| DEEPAKNTR | 2622 | 2650 |
| DIVISLAB | 5954.7 | 5900 |
| DIXON | 14977 | 14750 |
| DLF | 777.35 | 780 |
| DRREDDY | 1193.15 | 1220 |
| EICHERMOT | 4888.8 | 4900 |
| ESCORTS | 3447.3 | 3600 |
| EXIDEIND | 415.55 | 440 |
| FEDERALBNK | 210.69 | 205 |
| GAIL | 188.36 | 197.5 |
| GLENMARK | 1462.55 | 1520 |
| GMRINFRA | 77.14 | 82 |
| GNFC | 556.2 | 570 |
| GODREJCP | 1180.45 | 1200 |
| GODREJPROP | 2712.4 | 2750 |
| GRANULES | 545 | 580 |
| GRASIM | 2546.35 | 2540 |
| GUJGASLTD | 453.5 | 480 |
| HAL | 3987.5 | 4200 |
| HAVELLS | 1632.5 | 1640 |
| HCLTECH | 1832 | 1820 |
| HDFCAMC | 4222.85 | 4300 |
| HDFCBANK | 1742.6 | 1740 |
| HDFCLIFE | 674.1 | 680 |
| HEROMOTOCO | 4753.9 | 4800 |
| HINDALCO | 645.4 | 650 |
| HINDCOPPER | 263 | 290 |
| HINDPETRO | 359.35 | 375 |
| HINDUNILVR | 2380.3 | 2480 |
| ICICIBANK | 1251.85 | 1260 |
| ICICIGI | 1813.2 | 1880 |
| ICICIPRULI | 680.15 | 690 |
| IDEA | 6.94 | 8 |
| IDFCFIRSTB | 63.21 | 66 |
| IEX | 161.3 | 170 |
| IGL | 311.65 | 330 |
| INDHOTEL | 786.5 | 760 |
| INDIAMART | 2250 | 2400 |
| INDIGO | 4060.5 | 4000 |
| INDUSINDBK | 976 | 1040 |
| INDUSTOWER | 329.45 | 340 |
| INFY | 1832.4 | 1800 |
| IOC | 131.01 | 140 |
| IPCALAB | 1569.45 | 1560 |
| IRCTC | 795.65 | 820 |
| ITC | 456.5 | 475 |
| JINDALSTEL | 872.3 | 900 |
| JKCEMENT | 4009 | 4000 |
| JSWSTEEL | 941.3 | 960 |
| JUBLFOOD | 610.6 | 620 |
| KOTAKBANK | 1736.15 | 1760 |
| LALPATHLAB | 3028.8 | 3100 |
| LAURUSLABS | 489.2 | 490 |
| LICHSGFIN | 612.25 | 630 |
| LT | 3488.05 | 3600 |
| LTF | 137.91 | 140 |
| LTIM | 5918.75 | 5900 |
| LTTS | 5183.1 | 5150 |
| LUPIN | 2039.55 | 2100 |
| M&M | 2930.2 | 2900 |
| M&MFIN | 257 | 265 |
| MANAPPURAM | 150.9 | 155 |
| MARICO | 590.8 | 600 |
| MARUTI | 10867.15 | 11000 |
| MCX | 6165.3 | 6200 |
| METROPOLIS | 2011.45 | 2060 |
| MFSL | 1172.75 | 1200 |
| MGL | 1117.65 | 1160 |
| MOTHERSON | 161.53 | 175 |
| MPHASIS | 2784.15 | 2850 |
| MRF | 123131.2 | 122500 |
| MUTHOOTFIN | 1905.8 | 1880 |
| NATIONALUM | 246.5 | 240 |
| NAUKRI | 7533.8 | 7700 |
| NAVINFLUOR | 3267 | 3400 |
| NESTLEIND | 2197.7 | 2280 |
| NMDC | 218.24 | 225 |
| NTPC | 355.65 | 370 |
| OBEROIRLTY | 1936.9 | 1960 |
| OFSS | 11143.1 | 11500 |
| ONGC | 242 | 250 |
| PAGEIND | 44396 | 45500 |
| PEL | 1051.35 | 1060 |
| PERSISTENT | 5727.6 | 5600 |
| PETRONET | 321.05 | 328 |
| PFC | 453.3 | 460 |
| PIDILITIND | 2943.5 | 3060 |
| PIIND | 4131.7 | 4200 |
| PNB | 96.89 | 102 |
| POLYCAB | 6407 | 6500 |
| POWERGRID | 323.5 | 320 |
| PVRINOX | 1442.7 | 1500 |
| RAMCOCEM | 915.1 | 900 |
| RBLBANK | 157.73 | 160 |
| RECLTD | 490.7 | 510 |
| RELIANCE | 1219.7 | 1290 |
| SAIL | 111.1 | 117.5 |
| SBICARD | 674 | 690 |
| SBILIFE | 1480.7 | 1520 |
| SBIN | 783 | 800 |
| SHREECEM | 24213.85 | 24500 |
| SHRIRAMFIN | 2809.55 | 2900 |
| SIEMENS | 6670 | 6800 |
| SRF | 2154.8 | 2260 |
| SUNPHARMA | 1767.8 | 1800 |
| SUNTV | 729.1 | 730 |
| SYNGENE | 844.75 | 870 |
| TATACHEM | 1056 | 1100 |
| TATACOMM | 1709.05 | 1780 |
| TATACONSUM | 911 | 950 |
| TATAMOTORS | 774.65 | 800 |
| TATAPOWER | 410.25 | 420 |
| TATASTEEL | 140.11 | 145 |
| TCS | 4063.4 | 4100 |
| TECHM | 1698.8 | 1680 |
| TITAN | 3173.95 | 3200 |
| TORNTPHARM | 3096.4 | 3150 |
| TRENT | 6417 | 6600 |
| TVSMOTOR | 2396.5 | 2450 |
| UBL | 1820 | 1880 |
| ULTRACEMCO | 10941.55 | 11000 |
| UNITDSPR | 1489.5 | 1480 |
| UPL | 562 | 540 |
| VEDL | 442 | 460 |
| VOLTAS | 1670.1 | 1700 |
| WIPRO | 556.7 | 560 |
| ZYDUSLIFE | 942.35 | 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.
