BPCL
Bharat Petroleum Corp Lt
Max pain for BPCL
06 Sep 2024 04:12 PM IST
Max Pain for BPCL is 359.5
Strike 269.5 has a total call value of 0 versus a total put value of 107,282,250,000 Combined total value = 107,282,250,000
Strike 270 has a total call value of 0 versus a total put value of 106,516,890,000 Combined total value = 106,516,890,000
Strike 279.5 has a total call value of 0 versus a total put value of 91,975,050,000 Combined total value = 91,975,050,000
Strike 280 has a total call value of 0 versus a total put value of 91,209,690,000 Combined total value = 91,209,690,000
Strike 289.5 has a total call value of 0 versus a total put value of 76,667,850,000 Combined total value = 76,667,850,000
Strike 290 has a total call value of 0 versus a total put value of 75,915,270,000 Combined total value = 75,915,270,000
Strike 299.5 has a total call value of 0 versus a total put value of 61,624,800,000 Combined total value = 61,624,800,000
Strike 300 has a total call value of 0 versus a total put value of 60,872,670,000 Combined total value = 60,872,670,000
Strike 309.5 has a total call value of 148,770,000 versus a total put value of 47,548,350,000 Combined total value = 47,697,120,000
Strike 310 has a total call value of 156,600,000 versus a total put value of 46,855,800,000 Combined total value = 47,012,400,000
Strike 319.5 has a total call value of 305,370,000 versus a total put value of 34,466,850,000 Combined total value = 34,772,220,000
Strike 320 has a total call value of 316,350,000 versus a total put value of 33,823,530,000 Combined total value = 34,139,880,000
Strike 329.5 has a total call value of 709,650,000 versus a total put value of 23,218,110,000 Combined total value = 23,927,760,000
Strike 330 has a total call value of 731,880,000 versus a total put value of 22,673,070,000 Combined total value = 23,404,950,000
Strike 339.5 has a total call value of 1,376,550,000 versus a total put value of 13,574,160,000 Combined total value = 14,950,710,000
Strike 340 has a total call value of 1,418,580,000 versus a total put value of 13,106,790,000 Combined total value = 14,525,370,000
Strike 349.5 has a total call value of 2,861,820,000 versus a total put value of 5,940,180,000 Combined total value = 8,802,000,000
Strike 350 has a total call value of 2,947,320,000 versus a total put value of 5,585,310,000 Combined total value = 8,532,630,000
Strike 359.5 has a total call value of 6,661,440,000 versus a total put value of 1,799,370,000 Combined total value = 8,460,810,000
Strike 360 has a total call value of 6,912,270,000 versus a total put value of 1,623,240,000 Combined total value = 8,535,510,000
Strike 369.5 has a total call value of 18,336,780,000 versus a total put value of 516,870,000 Combined total value = 18,853,650,000
Strike 370 has a total call value of 19,027,170,000 versus a total put value of 474,030,000 Combined total value = 19,501,200,000
Strike 379.5 has a total call value of 39,884,040,000 versus a total put value of 162,810,000 Combined total value = 40,046,850,000
Strike 380 has a total call value of 41,040,810,000 versus a total put value of 150,210,000 Combined total value = 41,191,020,000
Strike 389.5 has a total call value of 66,200,040,000 versus a total put value of 56,160,000 Combined total value = 66,256,200,000
Strike 390 has a total call value of 67,551,930,000 versus a total put value of 52,470,000 Combined total value = 67,604,400,000
Strike 399.5 has a total call value of 94,542,570,000 versus a total put value of 1,170,000 Combined total value = 94,543,740,000
Strike 400 has a total call value of 95,980,860,000 versus a total put value of 0 Combined total value = 95,980,860,000
Strike 409.5 has a total call value of 125,509,140,000 versus a total put value of 0 Combined total value = 125,509,140,000
Strike 410 has a total call value of 127,072,800,000 versus a total put value of 0 Combined total value = 127,072,800,000
Strike 420 has a total call value of 159,202,800,000 versus a total put value of 0 Combined total value = 159,202,800,000
Strike 429.5 has a total call value of 190,883,970,000 versus a total put value of 0 Combined total value = 190,883,970,000
Strike 430 has a total call value of 192,558,870,000 versus a total put value of 0 Combined total value = 192,558,870,000
Strike 440 has a total call value of 226,056,870,000 versus a total put value of 0 Combined total value = 226,056,870,000
Strike 449.5 has a total call value of 258,124,500,000 versus a total put value of 0 Combined total value = 258,124,500,000
Strike 450 has a total call value of 259,812,270,000 versus a total put value of 0 Combined total value = 259,812,270,000
Strike 460 has a total call value of 293,567,670,000 versus a total put value of 0 Combined total value = 293,567,670,000
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.