BPCL
Bharat Petroleum Corp Lt
Max pain for BPCL
16 Sep 2024 04:12 PM IST
Max Pain for BPCL is 350
Strike 259.5 has a total call value of 0 versus a total put value of 133,274,610,000 Combined total value = 133,274,610,000
Strike 260 has a total call value of 0 versus a total put value of 132,414,480,000 Combined total value = 132,414,480,000
Strike 269.5 has a total call value of 0 versus a total put value of 116,073,720,000 Combined total value = 116,073,720,000
Strike 270 has a total call value of 0 versus a total put value of 115,215,840,000 Combined total value = 115,215,840,000
Strike 279.5 has a total call value of 0 versus a total put value of 98,916,120,000 Combined total value = 98,916,120,000
Strike 280 has a total call value of 0 versus a total put value of 98,058,240,000 Combined total value = 98,058,240,000
Strike 289.5 has a total call value of 0 versus a total put value of 81,787,590,000 Combined total value = 81,787,590,000
Strike 290 has a total call value of 0 versus a total put value of 80,943,390,000 Combined total value = 80,943,390,000
Strike 299.5 has a total call value of 0 versus a total put value of 64,949,760,000 Combined total value = 64,949,760,000
Strike 300 has a total call value of 0 versus a total put value of 64,110,420,000 Combined total value = 64,110,420,000
Strike 309.5 has a total call value of 99,180,000 versus a total put value of 49,060,710,000 Combined total value = 49,159,890,000
Strike 310 has a total call value of 104,400,000 versus a total put value of 48,277,260,000 Combined total value = 48,381,660,000
Strike 319.5 has a total call value of 241,200,000 versus a total put value of 34,345,890,000 Combined total value = 34,587,090,000
Strike 320 has a total call value of 252,630,000 versus a total put value of 33,621,930,000 Combined total value = 33,874,560,000
Strike 329.5 has a total call value of 686,970,000 versus a total put value of 21,732,300,000 Combined total value = 22,419,270,000
Strike 330 has a total call value of 712,530,000 versus a total put value of 21,122,100,000 Combined total value = 21,834,630,000
Strike 339.5 has a total call value of 1,550,430,000 versus a total put value of 11,125,440,000 Combined total value = 12,675,870,000
Strike 340 has a total call value of 1,607,400,000 versus a total put value of 10,617,840,000 Combined total value = 12,225,240,000
Strike 349.5 has a total call value of 4,875,210,000 versus a total put value of 4,335,300,000 Combined total value = 9,210,510,000
Strike 350 has a total call value of 5,123,070,000 versus a total put value of 4,035,510,000 Combined total value = 9,158,580,000
Strike 359.5 has a total call value of 15,530,130,000 versus a total put value of 1,096,020,000 Combined total value = 16,626,150,000
Strike 360 has a total call value of 16,175,790,000 versus a total put value of 959,670,000 Combined total value = 17,135,460,000
Strike 369.5 has a total call value of 36,593,190,000 versus a total put value of 133,740,000 Combined total value = 36,726,930,000
Strike 370 has a total call value of 37,773,630,000 versus a total put value of 106,200,000 Combined total value = 37,879,830,000
Strike 379.5 has a total call value of 67,920,930,000 versus a total put value of 5,310,000 Combined total value = 67,926,240,000
Strike 380 has a total call value of 69,563,610,000 versus a total put value of 0 Combined total value = 69,563,610,000
Strike 389.5 has a total call value of 103,654,170,000 versus a total put value of 0 Combined total value = 103,654,170,000
Strike 390 has a total call value of 105,475,590,000 versus a total put value of 0 Combined total value = 105,475,590,000
Strike 399.5 has a total call value of 141,168,420,000 versus a total put value of 0 Combined total value = 141,168,420,000
Strike 400 has a total call value of 143,061,390,000 versus a total put value of 0 Combined total value = 143,061,390,000
Strike 409.5 has a total call value of 181,084,950,000 versus a total put value of 0 Combined total value = 181,084,950,000
Strike 410 has a total call value of 183,086,190,000 versus a total put value of 0 Combined total value = 183,086,190,000
Strike 420 has a total call value of 223,578,990,000 versus a total put value of 0 Combined total value = 223,578,990,000
Strike 429.5 has a total call value of 262,749,960,000 versus a total put value of 0 Combined total value = 262,749,960,000
Strike 430 has a total call value of 264,817,530,000 versus a total put value of 0 Combined total value = 264,817,530,000
Strike 440 has a total call value of 306,168,930,000 versus a total put value of 0 Combined total value = 306,168,930,000
Strike 449.5 has a total call value of 345,688,740,000 versus a total put value of 0 Combined total value = 345,688,740,000
Strike 450 has a total call value of 347,768,730,000 versus a total put value of 0 Combined total value = 347,768,730,000
Strike 460 has a total call value of 389,368,530,000 versus a total put value of 0 Combined total value = 389,368,530,000
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.