BHEL
Bhel
Max pain for BHEL
20 Dec 2024 04:12 PM IST
Max Pain for BHEL is 250
Strike 190 has a total call value of 0 versus a total put value of 134,964,375,000 Combined total value = 134,964,375,000
Strike 195 has a total call value of 0 versus a total put value of 121,399,687,500 Combined total value = 121,399,687,500
Strike 200 has a total call value of 0 versus a total put value of 107,835,000,000 Combined total value = 107,835,000,000
Strike 205 has a total call value of 10,500,000 versus a total put value of 94,803,187,500 Combined total value = 94,813,687,500
Strike 210 has a total call value of 21,000,000 versus a total put value of 82,002,375,000 Combined total value = 82,023,375,000
Strike 215 has a total call value of 31,500,000 versus a total put value of 69,689,812,500 Combined total value = 69,721,312,500
Strike 220 has a total call value of 42,000,000 versus a total put value of 57,975,750,000 Combined total value = 58,017,750,000
Strike 225 has a total call value of 131,250,000 versus a total put value of 47,326,125,000 Combined total value = 47,457,375,000
Strike 230 has a total call value of 261,187,500 versus a total put value of 37,676,625,000 Combined total value = 37,937,812,500
Strike 235 has a total call value of 661,500,000 versus a total put value of 29,316,000,000 Combined total value = 29,977,500,000
Strike 240 has a total call value of 1,412,250,000 versus a total put value of 21,866,250,000 Combined total value = 23,278,500,000
Strike 245 has a total call value of 3,579,187,500 versus a total put value of 16,151,625,000 Combined total value = 19,730,812,500
Strike 250 has a total call value of 7,469,437,500 versus a total put value of 11,144,437,500 Combined total value = 18,613,875,000
Strike 255 has a total call value of 15,202,687,500 versus a total put value of 7,746,375,000 Combined total value = 22,949,062,500
Strike 260 has a total call value of 25,118,625,000 versus a total put value of 5,357,625,000 Combined total value = 30,476,250,000
Strike 265 has a total call value of 38,367,000,000 versus a total put value of 4,179,000,000 Combined total value = 42,546,000,000
Strike 270 has a total call value of 52,505,250,000 versus a total put value of 3,000,375,000 Combined total value = 55,505,625,000
Strike 275 has a total call value of 67,941,562,500 versus a total put value of 2,122,312,500 Combined total value = 70,063,875,000
Strike 280 has a total call value of 83,935,687,500 versus a total put value of 1,244,250,000 Combined total value = 85,179,937,500
Strike 285 has a total call value of 101,647,875,000 versus a total put value of 622,125,000 Combined total value = 102,270,000,000
Strike 290 has a total call value of 119,360,062,500 versus a total put value of 0 Combined total value = 119,360,062,500
Strike 295 has a total call value of 138,176,062,500 versus a total put value of 0 Combined total value = 138,176,062,500
Strike 300 has a total call value of 156,992,062,500 versus a total put value of 0 Combined total value = 156,992,062,500
Strike 305 has a total call value of 175,808,062,500 versus a total put value of 0 Combined total value = 175,808,062,500
Strike 310 has a total call value of 194,624,062,500 versus a total put value of 0 Combined total value = 194,624,062,500
Strike 315 has a total call value of 213,440,062,500 versus a total put value of 0 Combined total value = 213,440,062,500
Strike 320 has a total call value of 232,256,062,500 versus a total put value of 0 Combined total value = 232,256,062,500
Max-Pain Table for Monthly Expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| AARTIIND | 403.85 | 450 |
| ABB | 6921.25 | 7300 |
| ABBOTINDIA | 28655.35 | 28000 |
| ABCAPITAL | 186.21 | 200 |
| ABFRL | 282.2 | 300 |
| ACC | 2063.65 | 2260 |
| ADANIENSOL | 767.55 | 800 |
| ADANIENT | 2344.95 | 2500 |
| ADANIGREEN | 1034.35 | 1120 |
| ADANIPORTS | 1182.45 | 1240 |
| ALKEM | 5427.5 | 5500 |
| AMBUJACEM | 548.8 | 560 |
| ANGELONE | 2881.7 | 3100 |
| APLAPOLLO | 1559 | 1600 |
| APOLLOHOSP | 7251.7 | 7200 |
| APOLLOTYRE | 531.95 | 530 |
| ASHOKLEY | 217.28 | 225 |
| ASIANPAINT | 2282.35 | 2400 |
| ASTRAL | 1734.6 | 1820 |
| ATGL | 674.35 | 720 |
| ATUL | 7023.15 | 7300 |
| AUBANK | 537.6 | 570 |
| AUROPHARMA | 1241.7 | 1240 |
| AXISBANK | 1071.85 | 1120 |
| BAJAJ-AUTO | 8787.25 | 9000 |
| BAJAJFINSV | 1569.65 | 1640 |
| BAJFINANCE | 6848.25 | 7000 |
| BALKRISIND | 2790.05 | 2800 |
| BANDHANBNK | 159.05 | 170 |
| BANKBARODA | 240.59 | 250 |
| BANKINDIA | 103.03 | 110 |
| BATAINDIA | 1342.25 | 1400 |
| BEL | 290.85 | 310 |
| BERGEPAINT | 444.8 | 465 |
| BHARATFORG | 1278.9 | 1340 |
| BHARTIARTL | 1578.1 | 1600 |
| BHEL | 235.3 | 250 |
| BIOCON | 335.95 | 355 |
| BOSCHLTD | 34576.95 | 35000 |
| BPCL | 289.05 | 295 |
| BRITANNIA | 4698.1 | 4800 |
| BSE | 5542.85 | 5300 |
| BSOFT | 577 | 600 |
| CAMS | 4951 | 5100 |
| CANBK | 99.61 | 104 |
| CANFINHOME | 747.7 | 790 |
| CDSL | 1860.75 | 1860 |
| CESC | 182.74 | 190 |
| CGPOWER | 730.05 | 760 |
| CHAMBLFERT | 509.15 | 520 |
| CHOLAFIN | 1189.55 | 1260 |
| CIPLA | 1472.05 | 1480 |
| COALINDIA | 382 | 414.25 |
| COFORGE | 9370.45 | 9200 |
| COLPAL | 2750.85 | 2850 |
| CONCOR | 767.95 | 830 |
| COROMANDEL | 1839.3 | 1800 |
| CROMPTON | 388.25 | 405 |
| CUB | 175.42 | 180 |
| CUMMINSIND | 3312.9 | 3450 |
| CYIENT | 1924.4 | 2000 |
| DABUR | 502.55 | 510 |
| DALBHARAT | 1801.9 | 1880 |
| DEEPAKNTR | 2596.85 | 2700 |
| DELHIVERY | 349.6 | 365 |
| DIVISLAB | 5846.75 | 6000 |
| DIXON | 17944.9 | 18000 |
| DLF | 830.7 | 850 |
| DMART | 3408.3 | 3600 |
| DRREDDY | 1343.65 | 1300 |
| EICHERMOT | 4734.5 | 4800 |
| ESCORTS | 3162.05 | 3350 |
| EXIDEIND | 426.3 | 450 |
| FEDERALBNK | 194.46 | 205 |
| GAIL | 192.42 | 200 |
| GLENMARK | 1541.65 | 1520 |
| GMRAIRPORT | 78.82 | 85 |
| GMRINFRA | 0 | 36 |
| GNFC | 583.8 | 610 |
| GODREJCP | 1069.6 | 1120 |
| GODREJPROP | 2855.95 | 2900 |
| GRANULES | 592.4 | 580 |
| GRASIM | 2488.7 | 2620 |
| GUJGASLTD | 499.8 | 500 |
| HAL | 4190.2 | 4500 |
| HAVELLS | 1657.4 | 1720 |
| HCLTECH | 1911.35 | 1900 |
| HDFCAMC | 4262.8 | 4400 |
| HDFCBANK | 1771.5 | 1800 |
| HDFCLIFE | 623.8 | 640 |
| HEROMOTOCO | 4339.95 | 4600 |
| HFCL | 113.35 | 120 |
| HINDALCO | 622.65 | 650 |
| HINDCOPPER | 271.5 | 290 |
| HINDPETRO | 399.5 | 400 |
| HINDUNILVR | 2333.9 | 2400 |
| HUDCO | 242.11 | 245 |
| ICICIBANK | 1288.4 | 1300 |
| ICICIGI | 1902.15 | 1920 |
| ICICIPRULI | 653.9 | 670 |
| IDEA | 7.4 | 8 |
| IDFCFIRSTB | 61.68 | 65 |
| IEX | 177.45 | 182.5 |
| IGL | 388.3 | 370 |
| INDHOTEL | 854.1 | 850 |
| INDIAMART | 2249.95 | 2350 |
| INDIANB | 537.15 | 580 |
| INDIGO | 4395.6 | 4400 |
| INDUSINDBK | 929.45 | 980 |
| INDUSTOWER | 337.1 | 350 |
| INFY | 1922.15 | 1920 |
| IOC | 137.08 | 142.5 |
| IPCALAB | 1582.5 | 1560 |
| IRB | 55.09 | 57 |
| IRCTC | 784.25 | 830 |
| IRFC | 148.41 | 155 |
| ITC | 464.65 | 470 |
| JINDALSTEL | 908.05 | 940 |
| JIOFIN | 304.3 | 325 |
| JKCEMENT | 4517.8 | 4600 |
| JSL | 719.8 | 730 |
| JSWENERGY | 669.8 | 660 |
| JSWSTEEL | 917.35 | 950 |
| JUBLFOOD | 672.7 | 670 |
| KALYANKJIL | 719.2 | 740 |
| KEI | 4166.25 | 4400 |
| KOTAKBANK | 1743.55 | 1780 |
| KPITTECH | 1451.25 | 1500 |
| LALPATHLAB | 2946.25 | 3050 |
| LAURUSLABS | 559.2 | 570 |
| LICHSGFIN | 582.25 | 620 |
| LICI | 901.7 | 940 |
| LODHA | 1400.7 | 1440 |
| LT | 3629.85 | 3750 |
| LTF | 136.48 | 145 |
| LTIM | 5824.3 | 6150 |
| LTTS | 4828.5 | 5200 |
| LUPIN | 2150.7 | 2100 |
| M&M | 2906.35 | 3000 |
| M&MFIN | 266.05 | 275 |
| MANAPPURAM | 181.03 | 180 |
| MARICO | 627.95 | 630 |
| MARUTI | 10901.05 | 11100 |
| MAXHEALTH | 1165.2 | 1140 |
| MCX | 6397.4 | 6500 |
| METROPOLIS | 2058.05 | 2120 |
| MFSL | 1109.2 | 1140 |
| MGL | 1215.3 | 1260 |
| MOTHERSON | 156.06 | 165 |
| MPHASIS | 2950.6 | 3100 |
| MRF | 128057.9 | 130000 |
| MUTHOOTFIN | 2075.65 | 2060 |
| NATIONALUM | 215.36 | 232.5 |
| NAUKRI | 8494.95 | 8600 |
| NAVINFLUOR | 3305.85 | 3500 |
| NCC | 287.55 | 300 |
| NESTLEIND | 2163.5 | 2220 |
| NHPC | 81.47 | 85 |
| NMDC | 213.15 | 230 |
| NTPC | 333.25 | 350 |
| NYKAA | 167.33 | 170 |
| OBEROIRLTY | 2247.8 | 2200 |
| OFSS | 12247.55 | 12500 |
| OIL | 421.8 | 450 |
| ONGC | 237.1 | 250 |
| PAGEIND | 48856.35 | 48500 |
| PAYTM | 945.25 | 980 |
| PEL | 1093.7 | 1160 |
| PERSISTENT | 6368.7 | 6400 |
| PETRONET | 336.45 | 340 |
| PFC | 453.3 | 480 |
| PIDILITIND | 2976.8 | 3080 |
| PIIND | 3813.75 | 4000 |
| PNB | 100.77 | 105 |
| POLICYBZR | 2092.15 | 2000 |
| POLYCAB | 7178.25 | 7300 |
| POONAWALLA | 318.85 | 340 |
| POWERGRID | 315.8 | 325 |
| PRESTIGE | 1794.5 | 1800 |
| PVRINOX | 1382.1 | 1520 |
| RAMCOCEM | 986.1 | 1010 |
| RBLBANK | 152.79 | 160 |
| RECLTD | 513.25 | 530 |
| RELIANCE | 1205.3 | 1280 |
| SAIL | 116.1 | 125 |
| SBICARD | 687 | 710 |
| SBILIFE | 1400.6 | 1420 |
| SBIN | 812 | 840 |
| SHREECEM | 27063.5 | 27000 |
| SHRIRAMFIN | 2877.25 | 3000 |
| SIEMENS | 6868.9 | 7300 |
| SJVN | 111.54 | 117.5 |
| SONACOMS | 588.45 | 620 |
| SRF | 2277.6 | 2300 |
| SUNPHARMA | 1808.85 | 1800 |
| SUNTV | 696.85 | 730 |
| SUPREMEIND | 4839.8 | 4900 |
| SYNGENE | 844 | 860 |
| TATACHEM | 1028.85 | 1080 |
| TATACOMM | 1710.45 | 1800 |
| TATACONSUM | 889.45 | 930 |
| TATAELXSI | 6921.6 | 7200 |
| TATAMOTORS | 724.05 | 770 |
| TATAPOWER | 401.1 | 420 |
| TATASTEEL | 140.68 | 147.5 |
| TCS | 4170.3 | 4300 |
| TECHM | 1686.05 | 1740 |
| TIINDIA | 3619.1 | 3700 |
| TITAN | 3356.25 | 3400 |
| TORNTPHARM | 3437 | 3400 |
| TRENT | 6831.55 | 6900 |
| TVSMOTOR | 2391.65 | 2500 |
| UBL | 2025.35 | 2000 |
| ULTRACEMCO | 11422.8 | 11500 |
| UNIONBANK | 116.78 | 125 |
| UNITDSPR | 1544.8 | 1540 |
| UPL | 504.5 | 537.2 |
| VBL | 612.55 | 630 |
| VEDL | 477.25 | 490 |
| VOLTAS | 1686.5 | 1740 |
| WIPRO | 305.2 | 302.5 |
| YESBANK | 19.83 | 21 |
| ZOMATO | 282.1 | 285 |
| ZYDUSLIFE | 973.5 | 980 |
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.
