CANBK
Canara Bank
Max pain for CANBK
16 Sep 2024 04:11 PM IST
Max Pain for CANBK is 107.5
Strike 85 has a total call value of 0 versus a total put value of 161,328,375,000 Combined total value = 161,328,375,000
Strike 87.5 has a total call value of 5,062,500 versus a total put value of 141,199,875,000 Combined total value = 141,204,937,500
Strike 90 has a total call value of 10,125,000 versus a total put value of 121,071,375,000 Combined total value = 121,081,500,000
Strike 92.5 has a total call value of 55,687,500 versus a total put value of 101,628,000,000 Combined total value = 101,683,687,500
Strike 95 has a total call value of 101,250,000 versus a total put value of 82,523,812,500 Combined total value = 82,625,062,500
Strike 97.5 has a total call value of 146,812,500 versus a total put value of 64,757,812,500 Combined total value = 64,904,625,000
Strike 100 has a total call value of 192,375,000 versus a total put value of 47,639,812,500 Combined total value = 47,832,187,500
Strike 102.5 has a total call value of 911,250,000 versus a total put value of 33,652,125,000 Combined total value = 34,563,375,000
Strike 105 has a total call value of 2,225,812,500 versus a total put value of 21,375,562,500 Combined total value = 23,601,375,000
Strike 107.5 has a total call value of 6,161,062,500 versus a total put value of 13,808,812,500 Combined total value = 19,969,875,000
Strike 110 has a total call value of 12,485,812,500 versus a total put value of 7,485,750,000 Combined total value = 19,971,562,500
Strike 112.5 has a total call value of 27,511,312,500 versus a total put value of 4,303,125,000 Combined total value = 31,814,437,500
Strike 115 has a total call value of 45,336,375,000 versus a total put value of 2,006,437,500 Combined total value = 47,342,812,500
Strike 117.5 has a total call value of 68,568,187,500 versus a total put value of 874,125,000 Combined total value = 69,442,312,500
Strike 120 has a total call value of 92,972,812,500 versus a total put value of 0 Combined total value = 92,972,812,500
Strike 122.5 has a total call value of 120,884,062,500 versus a total put value of 0 Combined total value = 120,884,062,500
Strike 125 has a total call value of 149,198,625,000 versus a total put value of 0 Combined total value = 149,198,625,000
Strike 127.5 has a total call value of 178,866,562,500 versus a total put value of 0 Combined total value = 178,866,562,500
Strike 130 has a total call value of 208,720,125,000 versus a total put value of 0 Combined total value = 208,720,125,000
Strike 132.5 has a total call value of 239,213,250,000 versus a total put value of 0 Combined total value = 239,213,250,000
Strike 135 has a total call value of 269,706,375,000 versus a total put value of 0 Combined total value = 269,706,375,000
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.