BHEL
Bhel
Max pain for BHEL
16 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 168,490,875,000 Combined total value = 168,490,875,000
Strike 215 has a total call value of 0 versus a total put value of 154,409,062,500 Combined total value = 154,409,062,500
Strike 220 has a total call value of 0 versus a total put value of 140,327,250,000 Combined total value = 140,327,250,000
Strike 225 has a total call value of 0 versus a total put value of 126,401,625,000 Combined total value = 126,401,625,000
Strike 230 has a total call value of 0 versus a total put value of 112,476,000,000 Combined total value = 112,476,000,000
Strike 235 has a total call value of 0 versus a total put value of 98,948,062,500 Combined total value = 98,948,062,500
Strike 240 has a total call value of 3,937,500 versus a total put value of 85,518,562,500 Combined total value = 85,522,500,000
Strike 245 has a total call value of 93,187,500 versus a total put value of 73,055,062,500 Combined total value = 73,148,250,000
Strike 250 has a total call value of 182,437,500 versus a total put value of 60,789,750,000 Combined total value = 60,972,187,500
Strike 255 has a total call value of 576,187,500 versus a total put value of 49,825,125,000 Combined total value = 50,401,312,500
Strike 260 has a total call value of 1,063,125,000 versus a total put value of 39,520,687,500 Combined total value = 40,583,812,500
Strike 265 has a total call value of 2,210,250,000 versus a total put value of 30,873,937,500 Combined total value = 33,084,187,500
Strike 270 has a total call value of 4,285,312,500 versus a total put value of 23,260,125,000 Combined total value = 27,545,437,500
Strike 275 has a total call value of 8,976,187,500 versus a total put value of 17,588,812,500 Combined total value = 26,565,000,000
Strike 280 has a total call value of 15,844,500,000 versus a total put value of 12,778,500,000 Combined total value = 28,623,000,000
Strike 285 has a total call value of 25,908,750,000 versus a total put value of 8,970,937,500 Combined total value = 34,879,687,500
Strike 290 has a total call value of 37,527,000,000 versus a total put value of 5,465,250,000 Combined total value = 42,992,250,000
Strike 295 has a total call value of 53,309,812,500 versus a total put value of 3,119,812,500 Combined total value = 56,429,625,000
Strike 300 has a total call value of 71,287,125,000 versus a total put value of 1,281,000,000 Combined total value = 72,568,125,000
Strike 305 has a total call value of 95,769,187,500 versus a total put value of 623,437,500 Combined total value = 96,392,625,000
Strike 310 has a total call value of 121,167,375,000 versus a total put value of 74,812,500 Combined total value = 121,242,187,500
Strike 315 has a total call value of 148,410,937,500 versus a total put value of 0 Combined total value = 148,410,937,500
Strike 320 has a total call value of 176,149,312,500 versus a total put value of 0 Combined total value = 176,149,312,500
Strike 325 has a total call value of 205,532,250,000 versus a total put value of 0 Combined total value = 205,532,250,000
Strike 330 has a total call value of 235,134,375,000 versus a total put value of 0 Combined total value = 235,134,375,000
Strike 335 has a total call value of 265,770,750,000 versus a total put value of 0 Combined total value = 265,770,750,000
Strike 340 has a total call value of 296,478,000,000 versus a total put value of 0 Combined total value = 296,478,000,000
Strike 345 has a total call value of 327,681,375,000 versus a total put value of 0 Combined total value = 327,681,375,000
Strike 350 has a total call value of 358,884,750,000 versus a total put value of 0 Combined total value = 358,884,750,000
Strike 355 has a total call value of 390,682,687,500 versus a total put value of 0 Combined total value = 390,682,687,500
Strike 360 has a total call value of 422,480,625,000 versus a total put value of 0 Combined total value = 422,480,625,000
Strike 365 has a total call value of 454,438,687,500 versus a total put value of 0 Combined total value = 454,438,687,500
Strike 370 has a total call value of 486,396,750,000 versus a total put value of 0 Combined total value = 486,396,750,000
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.