BRITANNIA
Britannia Industries Ltd
Max pain for BRITANNIA
21 Nov 2024 04:11 PM IST
Max Pain for BRITANNIA is 5000
Strike 4400 has a total call value of 0 versus a total put value of 87,333,500,000 Combined total value = 87,333,500,000
Strike 4450 has a total call value of 0 versus a total put value of 80,544,500,000 Combined total value = 80,544,500,000
Strike 4500 has a total call value of 0 versus a total put value of 73,755,500,000 Combined total value = 73,755,500,000
Strike 4550 has a total call value of 0 versus a total put value of 67,237,000,000 Combined total value = 67,237,000,000
Strike 4600 has a total call value of 0 versus a total put value of 60,770,000,000 Combined total value = 60,770,000,000
Strike 4650 has a total call value of 16,500,000 versus a total put value of 54,595,000,000 Combined total value = 54,611,500,000
Strike 4700 has a total call value of 37,000,000 versus a total put value of 48,558,000,000 Combined total value = 48,595,000,000
Strike 4750 has a total call value of 150,500,000 versus a total put value of 43,307,000,000 Combined total value = 43,457,500,000
Strike 4800 has a total call value of 444,500,000 versus a total put value of 38,250,000,000 Combined total value = 38,694,500,000
Strike 4850 has a total call value of 1,197,000,000 versus a total put value of 33,806,000,000 Combined total value = 35,003,000,000
Strike 4900 has a total call value of 2,323,500,000 versus a total put value of 29,599,500,000 Combined total value = 31,923,000,000
Strike 4950 has a total call value of 4,119,000,000 versus a total put value of 25,911,000,000 Combined total value = 30,030,000,000
Strike 5000 has a total call value of 6,354,000,000 versus a total put value of 22,417,500,000 Combined total value = 28,771,500,000
Strike 5050 has a total call value of 9,918,500,000 versus a total put value of 19,530,500,000 Combined total value = 29,449,000,000
Strike 5100 has a total call value of 14,097,500,000 versus a total put value of 16,838,500,000 Combined total value = 30,936,000,000
Strike 5150 has a total call value of 19,920,000,000 versus a total put value of 14,508,500,000 Combined total value = 34,428,500,000
Strike 5200 has a total call value of 26,452,000,000 versus a total put value of 12,287,500,000 Combined total value = 38,739,500,000
Strike 5250 has a total call value of 34,698,500,000 versus a total put value of 10,415,500,000 Combined total value = 45,114,000,000
Strike 5300 has a total call value of 43,611,500,000 versus a total put value of 8,610,500,000 Combined total value = 52,222,000,000
Strike 5350 has a total call value of 54,031,500,000 versus a total put value of 7,152,500,000 Combined total value = 61,184,000,000
Strike 5400 has a total call value of 64,898,000,000 versus a total put value of 5,694,500,000 Combined total value = 70,592,500,000
Strike 5450 has a total call value of 77,166,000,000 versus a total put value of 4,512,000,000 Combined total value = 81,678,000,000
Strike 5500 has a total call value of 89,978,000,000 versus a total put value of 3,421,500,000 Combined total value = 93,399,500,000
Strike 5550 has a total call value of 104,641,000,000 versus a total put value of 2,631,500,000 Combined total value = 107,272,500,000
Strike 5600 has a total call value of 119,828,500,000 versus a total put value of 1,920,000,000 Combined total value = 121,748,500,000
Strike 5650 has a total call value of 135,940,000,000 versus a total put value of 1,434,500,000 Combined total value = 137,374,500,000
Strike 5700 has a total call value of 152,212,500,000 versus a total put value of 949,000,000 Combined total value = 153,161,500,000
Strike 5750 has a total call value of 169,285,500,000 versus a total put value of 615,000,000 Combined total value = 169,900,500,000
Strike 5800 has a total call value of 186,576,500,000 versus a total put value of 281,000,000 Combined total value = 186,857,500,000
Strike 5850 has a total call value of 205,116,500,000 versus a total put value of 123,500,000 Combined total value = 205,240,000,000
Strike 5900 has a total call value of 223,925,000,000 versus a total put value of 0 Combined total value = 223,925,000,000
Strike 5950 has a total call value of 243,266,500,000 versus a total put value of 0 Combined total value = 243,266,500,000
Strike 6000 has a total call value of 262,698,000,000 versus a total put value of 0 Combined total value = 262,698,000,000
Strike 6050 has a total call value of 282,668,000,000 versus a total put value of 0 Combined total value = 282,668,000,000
Strike 6100 has a total call value of 302,691,000,000 versus a total put value of 0 Combined total value = 302,691,000,000
Strike 6150 has a total call value of 323,002,000,000 versus a total put value of 0 Combined total value = 323,002,000,000
Strike 6200 has a total call value of 343,385,000,000 versus a total put value of 0 Combined total value = 343,385,000,000
Strike 6250 has a total call value of 363,914,000,000 versus a total put value of 0 Combined total value = 363,914,000,000
Strike 6300 has a total call value of 384,443,000,000 versus a total put value of 0 Combined total value = 384,443,000,000
Strike 6350 has a total call value of 405,104,000,000 versus a total put value of 0 Combined total value = 405,104,000,000
Strike 6400 has a total call value of 425,770,500,000 versus a total put value of 0 Combined total value = 425,770,500,000
Strike 6450 has a total call value of 446,567,500,000 versus a total put value of 0 Combined total value = 446,567,500,000
Strike 6500 has a total call value of 467,364,500,000 versus a total put value of 0 Combined total value = 467,364,500,000
Max-Pain Table for Monthly Expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| AARTIIND | 425.6 | 470 |
| ABB | 6760.8 | 7000 |
| ABBOTINDIA | 27114.7 | 28000 |
| ABCAPITAL | 183.01 | 200 |
| ABFRL | 284.4 | 305 |
| ACC | 2027.2 | 2220 |
| ADANIENT | 2183.65 | 2500 |
| ADANIPORTS | 1114.65 | 1200 |
| ALKEM | 5604.75 | 5600 |
| AMBUJACEM | 484.15 | 530 |
| APOLLOHOSP | 6742.5 | 6900 |
| APOLLOTYRE | 481.3 | 480 |
| ASHOKLEY | 218.9 | 220 |
| ASIANPAINT | 2428.15 | 2540 |
| ASTRAL | 1713.9 | 1780 |
| ATUL | 7241.95 | 7500 |
| AUBANK | 593.9 | 590 |
| AUROPHARMA | 1220 | 1300 |
| AXISBANK | 1139.15 | 1150 |
| BAJAJ-AUTO | 9505 | 9700 |
| BAJAJFINSV | 1569.25 | 1620 |
| BAJFINANCE | 6465.65 | 6700 |
| BALKRISIND | 2721.95 | 2800 |
| BANDHANBNK | 165.86 | 180 |
| BANKBARODA | 228.5 | 240 |
| BATAINDIA | 1281.55 | 1310 |
| BEL | 275.45 | 285 |
| BERGEPAINT | 465.5 | 495 |
| BHARATFORG | 1296.2 | 1340 |
| BHARTIARTL | 1525.15 | 1560 |
| BHEL | 227.94 | 235 |
| BIOCON | 323.1 | 330 |
| BOSCHLTD | 34108.7 | 34000 |
| BPCL | 282.4 | 295 |
| BRITANNIA | 4803.35 | 5000 |
| BSOFT | 545.4 | 560 |
| CANBK | 94.46 | 100 |
| CANFINHOME | 822.65 | 830 |
| CHAMBLFERT | 455.4 | 480 |
| CHOLAFIN | 1204.9 | 1260 |
| CIPLA | 1465.5 | 1520 |
| COALINDIA | 406 | 425 |
| COFORGE | 8210.1 | 8000 |
| COLPAL | 2690.3 | 2850 |
| CONCOR | 769.95 | 810 |
| COROMANDEL | 1768 | 1720 |
| CROMPTON | 381.95 | 390 |
| CUB | 170.09 | 175 |
| CUMMINSIND | 3282.25 | 3400 |
| DABUR | 505.75 | 525 |
| DALBHARAT | 1771.6 | 1760 |
| DEEPAKNTR | 2619.2 | 2650 |
| DIVISLAB | 5977.1 | 5900 |
| DIXON | 14995.45 | 14750 |
| DLF | 773.95 | 780 |
| DRREDDY | 1195.35 | 1220 |
| EICHERMOT | 4882.1 | 4900 |
| ESCORTS | 3454.4 | 3600 |
| EXIDEIND | 415.35 | 440 |
| FEDERALBNK | 210.88 | 205 |
| GAIL | 188.3 | 195 |
| GLENMARK | 1466.4 | 1540 |
| GMRINFRA | 76.85 | 82 |
| GNFC | 555.55 | 570 |
| GODREJCP | 1178.7 | 1200 |
| GODREJPROP | 2704.8 | 2750 |
| GRANULES | 544.85 | 570 |
| GRASIM | 2534.85 | 2540 |
| GUJGASLTD | 453.6 | 480 |
| HAL | 3983.45 | 4200 |
| HAVELLS | 1636.1 | 1640 |
| HCLTECH | 1836.35 | 1820 |
| HDFCAMC | 4214.1 | 4300 |
| HDFCBANK | 1741.2 | 1740 |
| HDFCLIFE | 674.4 | 680 |
| HEROMOTOCO | 4767.85 | 4800 |
| HINDALCO | 648.05 | 650 |
| HINDCOPPER | 261.5 | 290 |
| HINDPETRO | 360.1 | 375 |
| HINDUNILVR | 2382.8 | 2480 |
| ICICIBANK | 1250.55 | 1260 |
| ICICIGI | 1804.7 | 1880 |
| ICICIPRULI | 678.55 | 700 |
| IDEA | 6.91 | 8 |
| IDFCFIRSTB | 62.94 | 66 |
| IEX | 161.33 | 170 |
| IGL | 311.4 | 330 |
| INDHOTEL | 786.8 | 760 |
| INDIAMART | 2253.95 | 2350 |
| INDIGO | 4069.8 | 4050 |
| INDUSINDBK | 981.45 | 1040 |
| INDUSTOWER | 329.1 | 340 |
| INFY | 1834.05 | 1800 |
| IOC | 130.71 | 140 |
| IPCALAB | 1573.55 | 1560 |
| IRCTC | 793.85 | 830 |
| ITC | 457.15 | 475 |
| JINDALSTEL | 871.2 | 900 |
| JKCEMENT | 4003 | 4000 |
| JSWSTEEL | 944.15 | 960 |
| JUBLFOOD | 610.2 | 620 |
| KOTAKBANK | 1737.1 | 1760 |
| LALPATHLAB | 3026.1 | 3100 |
| LAURUSLABS | 489.15 | 490 |
| LICHSGFIN | 611.25 | 630 |
| LT | 3483.5 | 3600 |
| LTF | 137.74 | 140 |
| LTIM | 5931.05 | 5900 |
| LTTS | 5165.7 | 5150 |
| LUPIN | 2043 | 2100 |
| M&M | 2936.25 | 2900 |
| M&MFIN | 256.25 | 265 |
| MANAPPURAM | 150.29 | 155 |
| MARICO | 591.05 | 600 |
| MARUTI | 10861.45 | 11000 |
| MCX | 6166.5 | 6200 |
| METROPOLIS | 2015.75 | 2060 |
| MFSL | 1173.5 | 1200 |
| MGL | 1125.35 | 1160 |
| MOTHERSON | 161.84 | 175 |
| MPHASIS | 2786.2 | 2850 |
| MRF | 123509.9 | 122500 |
| MUTHOOTFIN | 1899.55 | 1880 |
| NATIONALUM | 248.21 | 240 |
| NAUKRI | 7515.35 | 7700 |
| NAVINFLUOR | 3262.45 | 3400 |
| NESTLEIND | 2211.2 | 2280 |
| NMDC | 217.63 | 225 |
| NTPC | 356.15 | 370 |
| OBEROIRLTY | 1917.35 | 1960 |
| OFSS | 11141.9 | 11500 |
| ONGC | 242.15 | 250 |
| PAGEIND | 44447.7 | 45500 |
| PEL | 1054.95 | 1060 |
| PERSISTENT | 5725.5 | 5600 |
| PETRONET | 321.85 | 328 |
| PFC | 453.35 | 460 |
| PIDILITIND | 2938.05 | 3060 |
| PIIND | 4138.7 | 4200 |
| PNB | 96.37 | 102 |
| POLYCAB | 6408.35 | 6500 |
| POWERGRID | 325.9 | 320 |
| PVRINOX | 1445.2 | 1480 |
| RAMCOCEM | 914.95 | 900 |
| RBLBANK | 156.23 | 160 |
| RECLTD | 490.95 | 510 |
| RELIANCE | 1223 | 1290 |
| SAIL | 110.59 | 117.5 |
| SBICARD | 675.05 | 690 |
| SBILIFE | 1477.95 | 1520 |
| SBIN | 780.75 | 800 |
| SHREECEM | 24052.85 | 24500 |
| SHRIRAMFIN | 2802.2 | 2900 |
| SIEMENS | 6641.65 | 6800 |
| SRF | 2143.65 | 2260 |
| SUNPHARMA | 1780 | 1800 |
| SUNTV | 728.05 | 730 |
| SYNGENE | 846.9 | 870 |
| TATACHEM | 1045.1 | 1100 |
| TATACOMM | 1711.55 | 1780 |
| TATACONSUM | 911.7 | 950 |
| TATAMOTORS | 773.85 | 800 |
| TATAPOWER | 408.05 | 420 |
| TATASTEEL | 140.22 | 145 |
| TCS | 4072.85 | 4100 |
| TECHM | 1702.25 | 1680 |
| TITAN | 3178.45 | 3200 |
| TORNTPHARM | 3101.95 | 3150 |
| TRENT | 6460.45 | 6600 |
| TVSMOTOR | 2388.45 | 2450 |
| UBL | 1827.95 | 1880 |
| ULTRACEMCO | 10954.85 | 11000 |
| UNITDSPR | 1493.05 | 1480 |
| UPL | 555.75 | 540 |
| VEDL | 442.8 | 460 |
| VOLTAS | 1675.5 | 1700 |
| WIPRO | 557.15 | 560 |
| ZYDUSLIFE | 944.05 | 980 |
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.
