COPPER
Copper
Max pain for COPPER
18 Sep 2024 11:40 PM IST
Max Pain for COPPER is 800
Strike 750 has a total call value of 0 versus a total put value of 3,790,000,000 Combined total value = 3,790,000,000
Strike 755 has a total call value of 0 versus a total put value of 3,363,750,000 Combined total value = 3,363,750,000
Strike 760 has a total call value of 0 versus a total put value of 2,937,500,000 Combined total value = 2,937,500,000
Strike 765 has a total call value of 0 versus a total put value of 2,511,250,000 Combined total value = 2,511,250,000
Strike 770 has a total call value of 0 versus a total put value of 2,085,000,000 Combined total value = 2,085,000,000
Strike 775 has a total call value of 0 versus a total put value of 1,690,000,000 Combined total value = 1,690,000,000
Strike 780 has a total call value of 0 versus a total put value of 1,295,000,000 Combined total value = 1,295,000,000
Strike 785 has a total call value of 43,750,000 versus a total put value of 987,500,000 Combined total value = 1,031,250,000
Strike 790 has a total call value of 87,500,000 versus a total put value of 680,000,000 Combined total value = 767,500,000
Strike 795 has a total call value of 158,750,000 versus a total put value of 436,250,000 Combined total value = 595,000,000
Strike 800 has a total call value of 231,250,000 versus a total put value of 192,500,000 Combined total value = 423,750,000
Strike 805 has a total call value of 416,250,000 versus a total put value of 116,250,000 Combined total value = 532,500,000
Strike 810 has a total call value of 601,250,000 versus a total put value of 47,500,000 Combined total value = 648,750,000
Strike 815 has a total call value of 932,500,000 versus a total put value of 23,750,000 Combined total value = 956,250,000
Strike 820 has a total call value of 1,270,000,000 versus a total put value of 0 Combined total value = 1,270,000,000
Strike 825 has a total call value of 1,736,250,000 versus a total put value of 0 Combined total value = 1,736,250,000
Strike 830 has a total call value of 2,202,500,000 versus a total put value of 0 Combined total value = 2,202,500,000
Strike 835 has a total call value of 2,708,750,000 versus a total put value of 0 Combined total value = 2,708,750,000
Strike 840 has a total call value of 3,215,000,000 versus a total put value of 0 Combined total value = 3,215,000,000
Strike 845 has a total call value of 3,730,000,000 versus a total put value of 0 Combined total value = 3,730,000,000
Strike 850 has a total call value of 4,245,000,000 versus a total put value of 0 Combined total value = 4,245,000,000
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.