BHEL
Bhel
Max pain for BHEL
18 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 178,104,937,500 Combined total value = 178,104,937,500
Strike 215 has a total call value of 0 versus a total put value of 164,174,062,500 Combined total value = 164,174,062,500
Strike 220 has a total call value of 0 versus a total put value of 150,243,187,500 Combined total value = 150,243,187,500
Strike 225 has a total call value of 0 versus a total put value of 136,467,187,500 Combined total value = 136,467,187,500
Strike 230 has a total call value of 0 versus a total put value of 122,691,187,500 Combined total value = 122,691,187,500
Strike 235 has a total call value of 0 versus a total put value of 109,249,875,000 Combined total value = 109,249,875,000
Strike 240 has a total call value of 0 versus a total put value of 95,899,125,000 Combined total value = 95,899,125,000
Strike 245 has a total call value of 93,187,500 versus a total put value of 83,367,375,000 Combined total value = 83,460,562,500
Strike 250 has a total call value of 186,375,000 versus a total put value of 70,973,437,500 Combined total value = 71,159,812,500
Strike 255 has a total call value of 584,062,500 versus a total put value of 59,766,000,000 Combined total value = 60,350,062,500
Strike 260 has a total call value of 1,080,187,500 versus a total put value of 49,182,000,000 Combined total value = 50,262,187,500
Strike 265 has a total call value of 2,228,625,000 versus a total put value of 40,197,937,500 Combined total value = 42,426,562,500
Strike 270 has a total call value of 4,350,937,500 versus a total put value of 32,231,062,500 Combined total value = 36,582,000,000
Strike 275 has a total call value of 9,544,500,000 versus a total put value of 25,990,125,000 Combined total value = 35,534,625,000
Strike 280 has a total call value of 16,659,562,500 versus a total put value of 20,530,125,000 Combined total value = 37,189,687,500
Strike 285 has a total call value of 26,868,187,500 versus a total put value of 16,025,625,000 Combined total value = 42,893,812,500
Strike 290 has a total call value of 38,629,500,000 versus a total put value of 11,811,187,500 Combined total value = 50,440,687,500
Strike 295 has a total call value of 54,328,312,500 versus a total put value of 8,729,437,500 Combined total value = 63,057,750,000
Strike 300 has a total call value of 72,232,125,000 versus a total put value of 6,151,687,500 Combined total value = 78,383,812,500
Strike 305 has a total call value of 96,538,312,500 versus a total put value of 4,696,125,000 Combined total value = 101,234,437,500
Strike 310 has a total call value of 121,687,125,000 versus a total put value of 3,346,875,000 Combined total value = 125,034,000,000
Strike 315 has a total call value of 148,534,312,500 versus a total put value of 2,464,875,000 Combined total value = 150,999,187,500
Strike 320 has a total call value of 175,772,625,000 versus a total put value of 1,653,750,000 Combined total value = 177,426,375,000
Strike 325 has a total call value of 204,546,562,500 versus a total put value of 1,056,562,500 Combined total value = 205,603,125,000
Strike 330 has a total call value of 233,529,187,500 versus a total put value of 459,375,000 Combined total value = 233,988,562,500
Strike 335 has a total call value of 263,460,750,000 versus a total put value of 229,687,500 Combined total value = 263,690,437,500
Strike 340 has a total call value of 293,450,062,500 versus a total put value of 0 Combined total value = 293,450,062,500
Strike 345 has a total call value of 323,846,250,000 versus a total put value of 0 Combined total value = 323,846,250,000
Strike 350 has a total call value of 354,266,062,500 versus a total put value of 0 Combined total value = 354,266,062,500
Strike 355 has a total call value of 385,168,875,000 versus a total put value of 0 Combined total value = 385,168,875,000
Strike 360 has a total call value of 416,071,687,500 versus a total put value of 0 Combined total value = 416,071,687,500
Strike 365 has a total call value of 447,122,812,500 versus a total put value of 0 Combined total value = 447,122,812,500
Strike 370 has a total call value of 478,173,937,500 versus a total put value of 0 Combined total value = 478,173,937,500
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.