BHEL
Bhel
Max pain for BHEL
18 Oct 2024 10:53 AM IST
Max Pain for BHEL is 265
Strike 210 has a total call value of 0 versus a total put value of 140,900,812,500 Combined total value = 140,900,812,500
Strike 215 has a total call value of 0 versus a total put value of 126,589,312,500 Combined total value = 126,589,312,500
Strike 220 has a total call value of 0 versus a total put value of 112,289,625,000 Combined total value = 112,289,625,000
Strike 225 has a total call value of 0 versus a total put value of 98,525,437,500 Combined total value = 98,525,437,500
Strike 230 has a total call value of 0 versus a total put value of 84,943,687,500 Combined total value = 84,943,687,500
Strike 235 has a total call value of 3,937,500 versus a total put value of 72,258,375,000 Combined total value = 72,262,312,500
Strike 240 has a total call value of 7,875,000 versus a total put value of 59,995,687,500 Combined total value = 60,003,562,500
Strike 245 has a total call value of 192,937,500 versus a total put value of 48,861,750,000 Combined total value = 49,054,687,500
Strike 250 has a total call value of 455,437,500 versus a total put value of 38,474,625,000 Combined total value = 38,930,062,500
Strike 255 has a total call value of 1,656,375,000 versus a total put value of 30,033,937,500 Combined total value = 31,690,312,500
Strike 260 has a total call value of 3,722,250,000 versus a total put value of 22,740,375,000 Combined total value = 26,462,625,000
Strike 265 has a total call value of 8,129,625,000 versus a total put value of 17,031,000,000 Combined total value = 25,160,625,000
Strike 270 has a total call value of 13,863,937,500 versus a total put value of 12,017,250,000 Combined total value = 25,881,187,500
Strike 275 has a total call value of 23,484,562,500 versus a total put value of 8,578,500,000 Combined total value = 32,063,062,500
Strike 280 has a total call value of 35,028,000,000 versus a total put value of 5,546,625,000 Combined total value = 40,574,625,000
Strike 285 has a total call value of 50,070,562,500 versus a total put value of 3,567,375,000 Combined total value = 53,637,937,500
Strike 290 has a total call value of 67,630,500,000 versus a total put value of 1,966,125,000 Combined total value = 69,596,625,000
Strike 295 has a total call value of 88,320,750,000 versus a total put value of 983,062,500 Combined total value = 89,303,812,500
Strike 300 has a total call value of 109,711,875,000 versus a total put value of 0 Combined total value = 109,711,875,000
Strike 305 has a total call value of 134,925,000,000 versus a total put value of 0 Combined total value = 134,925,000,000
Strike 310 has a total call value of 160,508,250,000 versus a total put value of 0 Combined total value = 160,508,250,000
Strike 315 has a total call value of 187,138,875,000 versus a total put value of 0 Combined total value = 187,138,875,000
Strike 320 has a total call value of 214,087,125,000 versus a total put value of 0 Combined total value = 214,087,125,000
Strike 325 has a total call value of 241,804,500,000 versus a total put value of 0 Combined total value = 241,804,500,000
Strike 330 has a total call value of 269,521,875,000 versus a total put value of 0 Combined total value = 269,521,875,000
Strike 335 has a total call value of 298,053,000,000 versus a total put value of 0 Combined total value = 298,053,000,000
Strike 340 has a total call value of 326,584,125,000 versus a total put value of 0 Combined total value = 326,584,125,000
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.