BHEL
Bhel
Max pain for BHEL
17 Feb 2025 04:12 PM IST
Max Pain for BHEL is 200
Strike 150 has a total call value of 0 versus a total put value of 159,502,875,000 Combined total value = 159,502,875,000
Strike 155 has a total call value of 0 versus a total put value of 143,923,500,000 Combined total value = 143,923,500,000
Strike 160 has a total call value of 0 versus a total put value of 128,344,125,000 Combined total value = 128,344,125,000
Strike 165 has a total call value of 0 versus a total put value of 113,207,062,500 Combined total value = 113,207,062,500
Strike 170 has a total call value of 0 versus a total put value of 98,462,437,500 Combined total value = 98,462,437,500
Strike 175 has a total call value of 0 versus a total put value of 84,240,187,500 Combined total value = 84,240,187,500
Strike 180 has a total call value of 51,187,500 versus a total put value of 70,532,437,500 Combined total value = 70,583,625,000
Strike 185 has a total call value of 263,812,500 versus a total put value of 58,317,000,000 Combined total value = 58,580,812,500
Strike 190 has a total call value of 687,750,000 versus a total put value of 47,347,125,000 Combined total value = 48,034,875,000
Strike 195 has a total call value of 2,021,250,000 versus a total put value of 38,901,187,500 Combined total value = 40,922,437,500
Strike 200 has a total call value of 4,908,750,000 versus a total put value of 31,757,250,000 Combined total value = 36,666,000,000
Strike 205 has a total call value of 11,448,937,500 versus a total put value of 26,486,250,000 Combined total value = 37,935,187,500
Strike 210 has a total call value of 21,049,875,000 versus a total put value of 22,063,125,000 Combined total value = 43,113,000,000
Strike 215 has a total call value of 36,715,875,000 versus a total put value of 18,964,312,500 Combined total value = 55,680,187,500
Strike 220 has a total call value of 55,004,250,000 versus a total put value of 16,299,937,500 Combined total value = 71,304,187,500
Strike 225 has a total call value of 77,371,875,000 versus a total put value of 13,972,875,000 Combined total value = 91,344,750,000
Strike 230 has a total call value of 101,162,250,000 versus a total put value of 11,775,750,000 Combined total value = 112,938,000,000
Strike 235 has a total call value of 126,757,312,500 versus a total put value of 9,846,375,000 Combined total value = 136,603,687,500
Strike 240 has a total call value of 153,025,687,500 versus a total put value of 7,917,000,000 Combined total value = 160,942,687,500
Strike 245 has a total call value of 180,319,125,000 versus a total put value of 6,323,625,000 Combined total value = 186,642,750,000
Strike 250 has a total call value of 207,997,125,000 versus a total put value of 4,730,250,000 Combined total value = 212,727,375,000
Strike 255 has a total call value of 237,755,437,500 versus a total put value of 3,682,875,000 Combined total value = 241,438,312,500
Strike 260 has a total call value of 267,722,437,500 versus a total put value of 2,635,500,000 Combined total value = 270,357,937,500
Strike 265 has a total call value of 298,042,500,000 versus a total put value of 1,875,562,500 Combined total value = 299,918,062,500
Strike 270 has a total call value of 328,362,562,500 versus a total put value of 1,115,625,000 Combined total value = 329,478,187,500
Strike 275 has a total call value of 358,682,625,000 versus a total put value of 557,812,500 Combined total value = 359,240,437,500
Strike 280 has a total call value of 389,002,687,500 versus a total put value of 0 Combined total value = 389,002,687,500
Strike 285 has a total call value of 419,698,125,000 versus a total put value of 0 Combined total value = 419,698,125,000
Strike 290 has a total call value of 450,393,562,500 versus a total put value of 0 Combined total value = 450,393,562,500
Strike 295 has a total call value of 481,089,000,000 versus a total put value of 0 Combined total value = 481,089,000,000
Strike 300 has a total call value of 511,784,437,500 versus a total put value of 0 Combined total value = 511,784,437,500
Max-Pain Table for stock monthly expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| AARTIIND | 418.3 | 440 |
| ABB | 5241.9 | 5400 |
| ABBOTINDIA | 28569.5 | 28000 |
| ABCAPITAL | 153.97 | 170 |
| ABFRL | 255.55 | 265 |
| ACC | 1911.5 | 2040 |
| ADANIENSOL | 702 | 740 |
| ADANIENT | 2223.7 | 2340 |
| ADANIGREEN | 890.35 | 900 |
| ADANIPORTS | 1082.9 | 1100 |
| ALKEM | 4794.3 | 4800 |
| AMBUJACEM | 488.3 | 505 |
| ANGELONE | 2211.6 | 2300 |
| APLAPOLLO | 1333.75 | 1440 |
| APOLLOHOSP | 6300.2 | 6400 |
| APOLLOTYRE | 416.3 | 420 |
| ASHOKLEY | 223.61 | 217.5 |
| ASIANPAINT | 2250.85 | 2280 |
| ASTRAL | 1384.5 | 1440 |
| ATGL | 574.45 | 600 |
| ATUL | 5402.85 | 5600 |
| AUBANK | 522.05 | 550 |
| AUROPHARMA | 1169.6 | 1180 |
| AXISBANK | 992.95 | 1000 |
| BAJAJ-AUTO | 8537.15 | 8800 |
| BAJAJFINSV | 1894.85 | 1820 |
| BAJFINANCE | 8426.6 | 8200 |
| BALKRISIND | 2670.55 | 2700 |
| BANDHANBNK | 132.82 | 150 |
| BANKBARODA | 206.96 | 220 |
| BANKINDIA | 99.03 | 100 |
| BATAINDIA | 1296.3 | 1340 |
| BEL | 248.5 | 265 |
| BERGEPAINT | 483.7 | 480 |
| BHARATFORG | 1082.65 | 1100 |
| BHARTIARTL | 1675.55 | 1680 |
| BHEL | 193.47 | 200 |
| BIOCON | 347.55 | 360 |
| BOSCHLTD | 26911.25 | 29000 |
| BPCL | 252.3 | 260 |
| BRITANNIA | 4963.7 | 4950 |
| BSE | 5208.7 | 5300 |
| BSOFT | 477.5 | 500 |
| CAMS | 3381.8 | 3500 |
| CANBK | 85.09 | 91 |
| CANFINHOME | 608.85 | 640 |
| CDSL | 1206.95 | 1240 |
| CESC | 125.92 | 130 |
| CGPOWER | 583 | 590 |
| CHAMBLFERT | 542.8 | 530 |
| CHOLAFIN | 1356.95 | 1340 |
| CIPLA | 1474.65 | 1460 |
| COALINDIA | 360.1 | 375 |
| COFORGE | 7683.95 | 8100 |
| COLPAL | 2462.4 | 2560 |
| CONCOR | 703.35 | 740 |
| COROMANDEL | 1707.55 | 1800 |
| CROMPTON | 332.6 | 345 |
| CUB | 160.85 | 165 |
| CUMMINSIND | 2721.45 | 2800 |
| CYIENT | 1439.3 | 1420 |
| DABUR | 520.55 | 530 |
| DALBHARAT | 1808.15 | 1820 |
| DEEPAKNTR | 1898.5 | 2000 |
| DELHIVERY | 267.35 | 280 |
| DIVISLAB | 5923.75 | 5950 |
| DIXON | 14199.5 | 14500 |
| DLF | 674.75 | 700 |
| DMART | 3621.5 | 3750 |
| DRREDDY | 1198.95 | 1200 |
| EICHERMOT | 4745.2 | 4950 |
| ESCORTS | 2972.15 | 3150 |
| EXIDEIND | 361.8 | 375 |
| FEDERALBNK | 181.54 | 185 |
| GAIL | 160.17 | 166 |
| GLENMARK | 1373.8 | 1380 |
| GMRAIRPORT | 70.26 | 73 |
| GMRINFRA | 0 | 76 |
| GNFC | 557.1 | 560 |
| GODREJCP | 1039.25 | 1070 |
| GODREJPROP | 1974.05 | 2100 |
| GRANULES | 522.25 | 540 |
| GRASIM | 2463.85 | 2500 |
| GUJGASLTD | 391.45 | 415 |
| HAL | 3475.7 | 3650 |
| HAVELLS | 1532.55 | 1560 |
| HCLTECH | 1709.9 | 1720 |
| HDFCAMC | 3730.55 | 3800 |
| HDFCBANK | 1717.35 | 1700 |
| HDFCLIFE | 623.25 | 630 |
| HEROMOTOCO | 3876.45 | 4050 |
| HFCL | 87.03 | 95 |
| HINDALCO | 610.85 | 600 |
| HINDCOPPER | 215.33 | 235 |
| HINDPETRO | 318.1 | 330 |
| HINDUNILVR | 2329.4 | 2380 |
| HUDCO | 183.21 | 195 |
| ICICIBANK | 1251.15 | 1250 |
| ICICIGI | 1725.05 | 1800 |
| ICICIPRULI | 575.2 | 600 |
| IDEA | 8.27 | 9 |
| IDFCFIRSTB | 61.5 | 62 |
| IEX | 167.21 | 172.5 |
| IGL | 190.25 | 195 |
| INDHOTEL | 721.65 | 750 |
| INDIAMART | 2102.4 | 2120 |
| INDIANB | 517.55 | 530 |
| INDIGO | 4303 | 4300 |
| INDUSINDBK | 1048.25 | 1040 |
| INDUSTOWER | 339.3 | 355 |
| INFY | 1842.3 | 1880 |
| IOC | 118.45 | 125 |
| IPCALAB | 1476.75 | 1480 |
| IRB | 47.7 | 49 |
| IRCTC | 725.45 | 760 |
| IRFC | 121.78 | 130 |
| ITC | 408.6 | 420 |
| JINDALSTEL | 837.65 | 840 |
| JIOFIN | 222.45 | 235 |
| JKCEMENT | 4637.9 | 4800 |
| JSL | 590.3 | 610 |
| JSWENERGY | 431.5 | 460 |
| JSWSTEEL | 973.55 | 960 |
| JUBLFOOD | 681.65 | 680 |
| KALYANKJIL | 507.05 | 500 |
| KEI | 3447.25 | 3500 |
| KOTAKBANK | 1945.3 | 1920 |
| KPITTECH | 1310.4 | 1400 |
| LALPATHLAB | 2629.5 | 2800 |
| LAURUSLABS | 555.5 | 580 |
| LICHSGFIN | 538.5 | 570 |
| LICI | 765.15 | 800 |
| LODHA | 1167.8 | 1200 |
| LT | 3221.85 | 3350 |
| LTF | 136.04 | 145 |
| LTIM | 5472.6 | 5700 |
| LTTS | 4816.9 | 5100 |
| LUPIN | 2026.95 | 2040 |
| M&M | 2831.95 | 2950 |
| M&MFIN | 276.85 | 280 |
| MANAPPURAM | 193.29 | 195 |
| MARICO | 624.75 | 640 |
| MARUTI | 12762.9 | 12700 |
| MAXHEALTH | 1014.65 | 1020 |
| MCX | 5550.5 | 5700 |
| METROPOLIS | 1680.35 | 1740 |
| MFSL | 1065.65 | 1100 |
| MGL | 1277.4 | 1320 |
| MOTHERSON | 124.79 | 130 |
| MPHASIS | 2591.35 | 2700 |
| MRF | 109984 | 110000 |
| MUTHOOTFIN | 2243.9 | 2260 |
| NATIONALUM | 180.74 | 186 |
| NAUKRI | 7338.9 | 7700 |
| NAVINFLUOR | 4108.1 | 4100 |
| NBCC | 82.02 | 85 |
| NCC | 190.8 | 200 |
| NESTLEIND | 2216.5 | 2220 |
| NHPC | 73.21 | 74 |
| NMDC | 62.56 | 65 |
| NTPC | 302.35 | 310 |
| NYKAA | 173.49 | 170 |
| OBEROIRLTY | 1590.25 | 1620 |
| OFSS | 8797.15 | 9000 |
| OIL | 400.55 | 410 |
| ONGC | 233.65 | 240 |
| PAGEIND | 40921.4 | 43000 |
| PAYTM | 733 | 740 |
| PEL | 926.05 | 1000 |
| PERSISTENT | 5531.3 | 5800 |
| PETRONET | 284.9 | 295 |
| PFC | 372.35 | 400 |
| PHOENIXLTD | 1545.05 | 1600 |
| PIDILITIND | 2781.7 | 2860 |
| PIIND | 3118.6 | 3300 |
| PNB | 93.18 | 97 |
| POLICYBZR | 1494.35 | 1600 |
| POLYCAB | 5414.2 | 5600 |
| POONAWALLA | 285.3 | 300 |
| POWERGRID | 263.2 | 265 |
| PRESTIGE | 1240.4 | 1300 |
| PVRINOX | 1006.55 | 1060 |
| RAMCOCEM | 860.75 | 880 |
| RBLBANK | 155.8 | 162.5 |
| RECLTD | 389.1 | 420 |
| RELIANCE | 1224.9 | 1250 |
| SAIL | 105.33 | 107.5 |
| SBICARD | 853.1 | 840 |
| SBILIFE | 1476.2 | 1460 |
| SBIN | 727.7 | 750 |
| SHREECEM | 28309.15 | 28000 |
| SHRIRAMFIN | 550.35 | 550 |
| SIEMENS | 4859.3 | 5100 |
| SJVN | 88.62 | 90 |
| SOLARINDS | 8619.35 | 9000 |
| SONACOMS | 487.3 | 510 |
| SRF | 2747.8 | 2800 |
| SUNPHARMA | 1714.2 | 1720 |
| SUNTV | 585.3 | 600 |
| SUPREMEIND | 3627.8 | 3800 |
| SYNGENE | 700.9 | 730 |
| TATACHEM | 854.5 | 920 |
| TATACOMM | 1507.45 | 1600 |
| TATACONSUM | 1023.25 | 1020 |
| TATAELXSI | 6146.85 | 6200 |
| TATAMOTORS | 686.6 | 700 |
| TATAPOWER | 337.2 | 360 |
| TATASTEEL | 134.29 | 135 |
| TCS | 3904.5 | 4000 |
| TECHM | 1664.95 | 1680 |
| TIINDIA | 2603.6 | 2750 |
| TITAN | 3233.2 | 3300 |
| TORNTPHARM | 3078 | 3100 |
| TORNTPOWER | 1239.35 | 1300 |
| TRENT | 5096.45 | 5300 |
| TVSMOTOR | 2365.7 | 2500 |
| UBL | 2028.15 | 2040 |
| ULTRACEMCO | 11490.1 | 11400 |
| UNIONBANK | 109.01 | 110 |
| UNITDSPR | 1349.7 | 1400 |
| UPL | 632.2 | 610 |
| VBL | 474.55 | 510 |
| VEDL | 415.15 | 430 |
| VOLTAS | 1241.6 | 1300 |
| WIPRO | 305.35 | 307.5 |
| YESBANK | 17.66 | 19 |
| ZOMATO | 218.53 | 220 |
| ZYDUSLIFE | 923.9 | 950 |
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.
