BHEL
BHEL
Max pain for BHEL
04 Jul 2024 12:03 PM IST
Max Pain for BHEL is 300
Strike 200 has a total call value of 0 versus a total put value of 260,235,937,500 Combined total value = 260,235,937,500
Strike 205 has a total call value of 0 versus a total put value of 244,542,375,000 Combined total value = 244,542,375,000
Strike 210 has a total call value of 0 versus a total put value of 228,848,812,500 Combined total value = 228,848,812,500
Strike 215 has a total call value of 0 versus a total put value of 213,155,250,000 Combined total value = 213,155,250,000
Strike 220 has a total call value of 0 versus a total put value of 197,461,687,500 Combined total value = 197,461,687,500
Strike 225 has a total call value of 0 versus a total put value of 181,797,000,000 Combined total value = 181,797,000,000
Strike 230 has a total call value of 0 versus a total put value of 166,132,312,500 Combined total value = 166,132,312,500
Strike 235 has a total call value of 110,250,000 versus a total put value of 150,610,687,500 Combined total value = 150,720,937,500
Strike 240 has a total call value of 220,500,000 versus a total put value of 135,089,062,500 Combined total value = 135,309,562,500
Strike 245 has a total call value of 330,750,000 versus a total put value of 119,936,250,000 Combined total value = 120,267,000,000
Strike 250 has a total call value of 441,000,000 versus a total put value of 104,863,500,000 Combined total value = 105,304,500,000
Strike 255 has a total call value of 657,562,500 versus a total put value of 91,172,812,500 Combined total value = 91,830,375,000
Strike 260 has a total call value of 874,125,000 versus a total put value of 77,564,812,500 Combined total value = 78,438,937,500
Strike 265 has a total call value of 1,090,687,500 versus a total put value of 65,080,312,500 Combined total value = 66,171,000,000
Strike 270 has a total call value of 1,307,250,000 versus a total put value of 54,128,812,500 Combined total value = 55,436,062,500
Strike 275 has a total call value of 1,611,750,000 versus a total put value of 44,085,562,500 Combined total value = 45,697,312,500
Strike 280 has a total call value of 1,916,250,000 versus a total put value of 35,537,250,000 Combined total value = 37,453,500,000
Strike 285 has a total call value of 2,394,000,000 versus a total put value of 28,067,812,500 Combined total value = 30,461,812,500
Strike 290 has a total call value of 2,937,375,000 versus a total put value of 20,963,250,000 Combined total value = 23,900,625,000
Strike 295 has a total call value of 3,852,187,500 versus a total put value of 14,849,625,000 Combined total value = 18,701,812,500
Strike 300 has a total call value of 4,999,312,500 versus a total put value of 9,376,500,000 Combined total value = 14,375,812,500
Strike 305 has a total call value of 8,344,875,000 versus a total put value of 6,336,750,000 Combined total value = 14,681,625,000
Strike 310 has a total call value of 12,386,062,500 versus a total put value of 3,827,250,000 Combined total value = 16,213,312,500
Strike 315 has a total call value of 19,360,687,500 versus a total put value of 2,275,875,000 Combined total value = 21,636,562,500
Strike 320 has a total call value of 28,126,875,000 versus a total put value of 1,115,625,000 Combined total value = 29,242,500,000
Strike 325 has a total call value of 40,012,875,000 versus a total put value of 757,312,500 Combined total value = 40,770,187,500
Strike 330 has a total call value of 52,632,562,500 versus a total put value of 465,937,500 Combined total value = 53,098,500,000
Strike 335 has a total call value of 66,781,312,500 versus a total put value of 322,875,000 Combined total value = 67,104,187,500
Strike 340 has a total call value of 81,279,187,500 versus a total put value of 202,125,000 Combined total value = 81,481,312,500
Strike 345 has a total call value of 96,716,812,500 versus a total put value of 126,000,000 Combined total value = 96,842,812,500
Strike 350 has a total call value of 112,436,625,000 versus a total put value of 49,875,000 Combined total value = 112,486,500,000
Strike 355 has a total call value of 129,885,000,000 versus a total put value of 24,937,500 Combined total value = 129,909,937,500
Strike 360 has a total call value of 147,511,875,000 versus a total put value of 0 Combined total value = 147,511,875,000
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.