CIPLA
Cipla Ltd
Max pain for CIPLA
06 Sep 2024 04:10 PM IST
Max Pain for CIPLA is 1640
Strike 1400 has a total call value of 0 versus a total put value of 53,953,900,000 Combined total value = 53,953,900,000
Strike 1420 has a total call value of 0 versus a total put value of 47,830,900,000 Combined total value = 47,830,900,000
Strike 1440 has a total call value of 0 versus a total put value of 41,707,900,000 Combined total value = 41,707,900,000
Strike 1460 has a total call value of 0 versus a total put value of 35,584,900,000 Combined total value = 35,584,900,000
Strike 1480 has a total call value of 0 versus a total put value of 30,046,900,000 Combined total value = 30,046,900,000
Strike 1500 has a total call value of 0 versus a total put value of 24,824,800,000 Combined total value = 24,824,800,000
Strike 1520 has a total call value of 41,600,000 versus a total put value of 20,313,800,000 Combined total value = 20,355,400,000
Strike 1540 has a total call value of 83,200,000 versus a total put value of 16,092,700,000 Combined total value = 16,175,900,000
Strike 1560 has a total call value of 124,800,000 versus a total put value of 12,275,900,000 Combined total value = 12,400,700,000
Strike 1580 has a total call value of 205,400,000 versus a total put value of 8,775,000,000 Combined total value = 8,980,400,000
Strike 1600 has a total call value of 379,600,000 versus a total put value of 5,678,400,000 Combined total value = 6,058,000,000
Strike 1620 has a total call value of 1,175,200,000 versus a total put value of 3,351,400,000 Combined total value = 4,526,600,000
Strike 1640 has a total call value of 2,583,100,000 versus a total put value of 1,714,700,000 Combined total value = 4,297,800,000
Strike 1660 has a total call value of 5,124,600,000 versus a total put value of 962,000,000 Combined total value = 6,086,600,000
Strike 1680 has a total call value of 9,376,900,000 versus a total put value of 599,300,000 Combined total value = 9,976,200,000
Strike 1700 has a total call value of 14,379,300,000 versus a total put value of 445,900,000 Combined total value = 14,825,200,000
Strike 1720 has a total call value of 21,001,500,000 versus a total put value of 353,600,000 Combined total value = 21,355,100,000
Strike 1740 has a total call value of 28,095,600,000 versus a total put value of 261,300,000 Combined total value = 28,356,900,000
Strike 1760 has a total call value of 35,590,100,000 versus a total put value of 174,200,000 Combined total value = 35,764,300,000
Strike 1780 has a total call value of 43,306,900,000 versus a total put value of 87,100,000 Combined total value = 43,394,000,000
Strike 1800 has a total call value of 51,116,000,000 versus a total put value of 0 Combined total value = 51,116,000,000
Strike 1820 has a total call value of 59,845,500,000 versus a total put value of 0 Combined total value = 59,845,500,000
Strike 1840 has a total call value of 68,677,700,000 versus a total put value of 0 Combined total value = 68,677,700,000
Strike 1860 has a total call value of 78,260,000,000 versus a total put value of 0 Combined total value = 78,260,000,000
Strike 1880 has a total call value of 87,842,300,000 versus a total put value of 0 Combined total value = 87,842,300,000
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.