BHEL
BHEL
Max pain for BHEL
02 Jul 2024 10:33 AM IST
Max Pain for BHEL is 300
Strike 200 has a total call value of 0 versus a total put value of 202,035,750,000 Combined total value = 202,035,750,000
Strike 205 has a total call value of 0 versus a total put value of 189,101,062,500 Combined total value = 189,101,062,500
Strike 210 has a total call value of 0 versus a total put value of 176,166,375,000 Combined total value = 176,166,375,000
Strike 215 has a total call value of 0 versus a total put value of 163,231,687,500 Combined total value = 163,231,687,500
Strike 220 has a total call value of 0 versus a total put value of 150,297,000,000 Combined total value = 150,297,000,000
Strike 225 has a total call value of 0 versus a total put value of 137,391,187,500 Combined total value = 137,391,187,500
Strike 230 has a total call value of 0 versus a total put value of 124,485,375,000 Combined total value = 124,485,375,000
Strike 235 has a total call value of 0 versus a total put value of 111,579,562,500 Combined total value = 111,579,562,500
Strike 240 has a total call value of 0 versus a total put value of 98,673,750,000 Combined total value = 98,673,750,000
Strike 245 has a total call value of 0 versus a total put value of 85,983,187,500 Combined total value = 85,983,187,500
Strike 250 has a total call value of 0 versus a total put value of 73,401,562,500 Combined total value = 73,401,562,500
Strike 255 has a total call value of 0 versus a total put value of 62,709,937,500 Combined total value = 62,709,937,500
Strike 260 has a total call value of 0 versus a total put value of 52,115,437,500 Combined total value = 52,115,437,500
Strike 265 has a total call value of 0 versus a total put value of 42,400,312,500 Combined total value = 42,400,312,500
Strike 270 has a total call value of 0 versus a total put value of 33,807,375,000 Combined total value = 33,807,375,000
Strike 275 has a total call value of 94,500,000 versus a total put value of 26,001,937,500 Combined total value = 26,096,437,500
Strike 280 has a total call value of 189,000,000 versus a total put value of 19,505,062,500 Combined total value = 19,694,062,500
Strike 285 has a total call value of 431,812,500 versus a total put value of 14,202,562,500 Combined total value = 14,634,375,000
Strike 290 has a total call value of 674,625,000 versus a total put value of 9,215,062,500 Combined total value = 9,889,687,500
Strike 295 has a total call value of 1,365,000,000 versus a total put value of 5,420,625,000 Combined total value = 6,785,625,000
Strike 300 has a total call value of 2,349,375,000 versus a total put value of 2,119,687,500 Combined total value = 4,469,062,500
Strike 305 has a total call value of 6,962,812,500 versus a total put value of 1,156,312,500 Combined total value = 8,119,125,000
Strike 310 has a total call value of 12,900,562,500 versus a total put value of 527,625,000 Combined total value = 13,428,187,500
Strike 315 has a total call value of 21,828,187,500 versus a total put value of 376,687,500 Combined total value = 22,204,875,000
Strike 320 has a total call value of 31,490,812,500 versus a total put value of 322,875,000 Combined total value = 31,813,687,500
Strike 325 has a total call value of 43,563,187,500 versus a total put value of 269,062,500 Combined total value = 43,832,250,000
Strike 330 has a total call value of 56,138,250,000 versus a total put value of 215,250,000 Combined total value = 56,353,500,000
Strike 335 has a total call value of 69,653,062,500 versus a total put value of 161,437,500 Combined total value = 69,814,500,000
Strike 340 has a total call value of 83,341,125,000 versus a total put value of 107,625,000 Combined total value = 83,448,750,000
Strike 345 has a total call value of 97,709,062,500 versus a total put value of 53,812,500 Combined total value = 97,762,875,000
Strike 350 has a total call value of 112,255,500,000 versus a total put value of 0 Combined total value = 112,255,500,000
Strike 355 has a total call value of 128,575,125,000 versus a total put value of 0 Combined total value = 128,575,125,000
Strike 360 has a total call value of 145,001,062,500 versus a total put value of 0 Combined total value = 145,001,062,500
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.