COPPER
Copper
Max pain for COPPER
29 Oct 2024 09:20 PM IST
Max Pain for COPPER is 830
Strike 800 has a total call value of 0 versus a total put value of 1,110,000,000 Combined total value = 1,110,000,000
Strike 805 has a total call value of 6,250,000 versus a total put value of 908,750,000 Combined total value = 915,000,000
Strike 810 has a total call value of 12,500,000 versus a total put value of 707,500,000 Combined total value = 720,000,000
Strike 815 has a total call value of 27,500,000 versus a total put value of 528,750,000 Combined total value = 556,250,000
Strike 820 has a total call value of 42,500,000 versus a total put value of 350,000,000 Combined total value = 392,500,000
Strike 825 has a total call value of 63,750,000 versus a total put value of 232,500,000 Combined total value = 296,250,000
Strike 830 has a total call value of 86,250,000 versus a total put value of 116,250,000 Combined total value = 202,500,000
Strike 835 has a total call value of 152,500,000 versus a total put value of 68,750,000 Combined total value = 221,250,000
Strike 840 has a total call value of 218,750,000 versus a total put value of 21,250,000 Combined total value = 240,000,000
Strike 845 has a total call value of 395,000,000 versus a total put value of 10,000,000 Combined total value = 405,000,000
Strike 850 has a total call value of 573,750,000 versus a total put value of 0 Combined total value = 573,750,000
Strike 855 has a total call value of 818,750,000 versus a total put value of 0 Combined total value = 818,750,000
Strike 860 has a total call value of 1,063,750,000 versus a total put value of 0 Combined total value = 1,063,750,000
Strike 865 has a total call value of 1,365,000,000 versus a total put value of 0 Combined total value = 1,365,000,000
Strike 870 has a total call value of 1,666,250,000 versus a total put value of 0 Combined total value = 1,666,250,000
Strike 875 has a total call value of 2,000,000,000 versus a total put value of 0 Combined total value = 2,000,000,000
Strike 880 has a total call value of 2,333,750,000 versus a total put value of 0 Combined total value = 2,333,750,000
Strike 885 has a total call value of 2,681,250,000 versus a total put value of 0 Combined total value = 2,681,250,000
Strike 890 has a total call value of 3,028,750,000 versus a total put value of 0 Combined total value = 3,028,750,000
Strike 895 has a total call value of 3,376,250,000 versus a total put value of 0 Combined total value = 3,376,250,000
Strike 900 has a total call value of 3,723,750,000 versus a total put value of 0 Combined total value = 3,723,750,000
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.