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BHEL
BHEL

247.3 4.20 (1.73%)


Strike  165  has a total call value of 0  versus a total put value of  132,300,000,000 Combined total value = 132,300,000,000

Strike  167.5  has a total call value of 19,687,500  versus a total put value of  126,846,562,500 Combined total value = 126,866,250,000

Strike  170  has a total call value of 39,375,000  versus a total put value of  121,393,125,000 Combined total value = 121,432,500,000

Strike  172.5  has a total call value of 733,687,500  versus a total put value of  116,525,062,500 Combined total value = 117,258,750,000

Strike  175  has a total call value of 1,428,000,000  versus a total put value of  111,657,000,000 Combined total value = 113,085,000,000

Strike  177.5  has a total call value of 2,122,312,500  versus a total put value of  106,788,937,500 Combined total value = 108,911,250,000

Strike  180  has a total call value of 2,816,625,000  versus a total put value of  101,920,875,000 Combined total value = 104,737,500,000

Strike  182.5  has a total call value of 3,535,875,000  versus a total put value of  97,203,750,000 Combined total value = 100,739,625,000

Strike  185  has a total call value of 4,255,125,000  versus a total put value of  92,486,625,000 Combined total value = 96,741,750,000

Strike  187.5  has a total call value of 4,977,000,000  versus a total put value of  87,769,500,000 Combined total value = 92,746,500,000

Strike  190  has a total call value of 5,698,875,000  versus a total put value of  83,052,375,000 Combined total value = 88,751,250,000

Strike  192.5  has a total call value of 6,431,250,000  versus a total put value of  78,524,250,000 Combined total value = 84,955,500,000

Strike  195  has a total call value of 7,163,625,000  versus a total put value of  73,996,125,000 Combined total value = 81,159,750,000

Strike  197.5  has a total call value of 7,896,000,000  versus a total put value of  69,468,000,000 Combined total value = 77,364,000,000

Strike  200  has a total call value of 8,628,375,000  versus a total put value of  64,951,687,500 Combined total value = 73,580,062,500

Strike  202.5  has a total call value of 9,474,937,500  versus a total put value of  60,768,750,000 Combined total value = 70,243,687,500

Strike  205  has a total call value of 10,321,500,000  versus a total put value of  56,585,812,500 Combined total value = 66,907,312,500

Strike  207.5  has a total call value of 11,173,312,500  versus a total put value of  52,458,000,000 Combined total value = 63,631,312,500

Strike  210  has a total call value of 12,025,125,000  versus a total put value of  48,330,187,500 Combined total value = 60,355,312,500

Strike  212.5  has a total call value of 12,939,937,500  versus a total put value of  44,457,000,000 Combined total value = 57,396,937,500

Strike  215  has a total call value of 13,854,750,000  versus a total put value of  40,583,812,500 Combined total value = 54,438,562,500

Strike  217.5  has a total call value of 14,797,125,000  versus a total put value of  36,818,250,000 Combined total value = 51,615,375,000

Strike  220  has a total call value of 15,739,500,000  versus a total put value of  33,081,562,500 Combined total value = 48,821,062,500

Strike  222.5  has a total call value of 16,794,750,000  versus a total put value of  29,760,937,500 Combined total value = 46,555,687,500

Strike  225  has a total call value of 17,850,000,000  versus a total put value of  26,469,187,500 Combined total value = 44,319,187,500

Strike  227.5  has a total call value of 19,032,562,500  versus a total put value of  23,489,812,500 Combined total value = 42,522,375,000

Strike  230  has a total call value of 20,251,875,000  versus a total put value of  20,549,812,500 Combined total value = 40,801,687,500

Strike  232.5  has a total call value of 21,703,500,000  versus a total put value of  18,073,125,000 Combined total value = 39,776,625,000

Strike  235  has a total call value of 23,212,875,000  versus a total put value of  15,664,687,500 Combined total value = 38,877,562,500

Strike  237.5  has a total call value of 24,934,875,000  versus a total put value of  13,659,187,500 Combined total value = 38,594,062,500

Strike  240  has a total call value of 26,792,062,500  versus a total put value of  11,746,875,000 Combined total value = 38,538,937,500

Strike  242.5  has a total call value of 29,067,937,500  versus a total put value of  10,213,875,000 Combined total value = 39,281,812,500

Strike  245  has a total call value of 31,377,937,500  versus a total put value of  8,709,750,000 Combined total value = 40,087,687,500

Strike  247.5  has a total call value of 33,798,187,500  versus a total put value of  7,309,312,500 Combined total value = 41,107,500,000

Strike  250  has a total call value of 36,268,312,500  versus a total put value of  5,957,437,500 Combined total value = 42,225,750,000

Strike  252.5  has a total call value of 39,082,312,500  versus a total put value of  4,933,687,500 Combined total value = 44,016,000,000

Strike  255  has a total call value of 41,967,187,500  versus a total put value of  3,991,312,500 Combined total value = 45,958,500,000

Strike  257.5  has a total call value of 45,080,437,500  versus a total put value of  3,132,937,500 Combined total value = 48,213,375,000

Strike  260  has a total call value of 48,255,375,000  versus a total put value of  2,327,062,500 Combined total value = 50,582,437,500

Strike  262.5  has a total call value of 52,446,187,500  versus a total put value of  1,794,187,500 Combined total value = 54,240,375,000

Strike  265  has a total call value of 56,724,937,500  versus a total put value of  1,303,312,500 Combined total value = 58,028,250,000

Strike  267.5  has a total call value of 61,447,312,500  versus a total put value of  945,000,000 Combined total value = 62,392,312,500

Strike  270  has a total call value of 66,236,625,000  versus a total put value of  586,687,500 Combined total value = 66,823,312,500

Strike  272.5  has a total call value of 71,768,812,500  versus a total put value of  375,375,000 Combined total value = 72,144,187,500

Strike  275  has a total call value of 77,377,125,000  versus a total put value of  178,500,000 Combined total value = 77,555,625,000

Strike  277.5  has a total call value of 83,245,312,500  versus a total put value of  89,250,000 Combined total value = 83,334,562,500

Strike  280  has a total call value of 89,205,375,000  versus a total put value of  0 Combined total value = 89,205,375,000

Strike  282.5  has a total call value of 95,811,187,500  versus a total put value of  0 Combined total value = 95,811,187,500

Strike  285  has a total call value of 102,466,875,000  versus a total put value of  0 Combined total value = 102,466,875,000

Strike  287.5  has a total call value of 109,343,062,500  versus a total put value of  0 Combined total value = 109,343,062,500

Strike  290  has a total call value of 116,275,687,500  versus a total put value of  0 Combined total value = 116,275,687,500

Strike  292.5  has a total call value of 123,734,625,000  versus a total put value of  0 Combined total value = 123,734,625,000

Strike  295  has a total call value of 131,193,562,500  versus a total put value of  0 Combined total value = 131,193,562,500

Strike  297.5  has a total call value of 138,888,750,000  versus a total put value of  0 Combined total value = 138,888,750,000

Strike  300  has a total call value of 146,583,937,500  versus a total put value of  0 Combined total value = 146,583,937,500

Strike  302.5  has a total call value of 154,901,250,000  versus a total put value of  0 Combined total value = 154,901,250,000

Strike  305  has a total call value of 163,218,562,500  versus a total put value of  0 Combined total value = 163,218,562,500

Max Pain - Choose a symbol



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:
  1. Find the difference between stock price and strike price
  2. Multiply the result by open interest at that strike
  3. Add together the dollar value for the put and call at that strike
  4. Repeat for each strike price
  5. 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.