BPCL
BHARAT PETROLEUM CORP LT
Max pain for BPCL
26 Jul 2024 04:12 PM IST
Max Pain for BPCL is 320
Strike 200 has a total call value of 0 versus a total put value of 143,803,800,000 Combined total value = 143,803,800,000
Strike 210 has a total call value of 0 versus a total put value of 130,503,600,000 Combined total value = 130,503,600,000
Strike 220 has a total call value of 0 versus a total put value of 117,203,400,000 Combined total value = 117,203,400,000
Strike 230 has a total call value of 0 versus a total put value of 103,903,200,000 Combined total value = 103,903,200,000
Strike 240 has a total call value of 0 versus a total put value of 90,603,000,000 Combined total value = 90,603,000,000
Strike 250 has a total call value of 0 versus a total put value of 77,448,600,000 Combined total value = 77,448,600,000
Strike 260 has a total call value of 12,600,000 versus a total put value of 64,522,800,000 Combined total value = 64,535,400,000
Strike 270 has a total call value of 25,200,000 versus a total put value of 51,897,600,000 Combined total value = 51,922,800,000
Strike 280 has a total call value of 493,200,000 versus a total put value of 39,945,600,000 Combined total value = 40,438,800,000
Strike 290 has a total call value of 1,272,600,000 versus a total put value of 29,160,000,000 Combined total value = 30,432,600,000
Strike 300 has a total call value of 2,181,600,000 versus a total put value of 19,872,000,000 Combined total value = 22,053,600,000
Strike 310 has a total call value of 3,810,600,000 versus a total put value of 12,612,600,000 Combined total value = 16,423,200,000
Strike 320 has a total call value of 7,110,000,000 versus a total put value of 7,074,000,000 Combined total value = 14,184,000,000
Strike 330 has a total call value of 13,237,200,000 versus a total put value of 4,100,400,000 Combined total value = 17,337,600,000
Strike 340 has a total call value of 22,181,400,000 versus a total put value of 2,044,800,000 Combined total value = 24,226,200,000
Strike 350 has a total call value of 33,836,400,000 versus a total put value of 349,200,000 Combined total value = 34,185,600,000
Strike 360 has a total call value of 48,702,600,000 versus a total put value of 66,600,000 Combined total value = 48,769,200,000
Strike 370 has a total call value of 64,614,600,000 versus a total put value of 30,600,000 Combined total value = 64,645,200,000
Strike 380 has a total call value of 82,166,400,000 versus a total put value of 18,000,000 Combined total value = 82,184,400,000
Strike 390 has a total call value of 100,152,000,000 versus a total put value of 9,000,000 Combined total value = 100,161,000,000
Strike 400 has a total call value of 118,177,200,000 versus a total put value of 0 Combined total value = 118,177,200,000
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.