CRUDEOILM
Crude Oil Mini
Max pain for CRUDEOILM
02 Jul 2024 10:40 AM IST
Max Pain for CRUDEOILM is 6800
Strike 6300 has a total call value of 0 versus a total put value of 2,914,500,000 Combined total value = 2,914,500,000
Strike 6350 has a total call value of 0 versus a total put value of 2,577,000,000 Combined total value = 2,577,000,000
Strike 6400 has a total call value of 0 versus a total put value of 2,239,500,000 Combined total value = 2,239,500,000
Strike 6450 has a total call value of 0 versus a total put value of 1,912,500,000 Combined total value = 1,912,500,000
Strike 6500 has a total call value of 0 versus a total put value of 1,585,500,000 Combined total value = 1,585,500,000
Strike 6550 has a total call value of 1,650,000 versus a total put value of 1,284,650,000 Combined total value = 1,286,300,000
Strike 6600 has a total call value of 3,300,000 versus a total put value of 983,800,000 Combined total value = 987,100,000
Strike 6650 has a total call value of 10,200,000 versus a total put value of 714,850,000 Combined total value = 725,050,000
Strike 6700 has a total call value of 17,100,000 versus a total put value of 447,550,000 Combined total value = 464,650,000
Strike 6750 has a total call value of 32,350,000 versus a total put value of 253,150,000 Combined total value = 285,500,000
Strike 6800 has a total call value of 53,250,000 versus a total put value of 85,850,000 Combined total value = 139,100,000
Strike 6850 has a total call value of 111,950,000 versus a total put value of 40,950,000 Combined total value = 152,900,000
Strike 6900 has a total call value of 179,900,000 versus a total put value of 3,500,000 Combined total value = 183,400,000
Strike 6950 has a total call value of 291,900,000 versus a total put value of 1,750,000 Combined total value = 293,650,000
Strike 7000 has a total call value of 407,250,000 versus a total put value of 0 Combined total value = 407,250,000
Strike 7050 has a total call value of 546,800,000 versus a total put value of 0 Combined total value = 546,800,000
Strike 7100 has a total call value of 686,800,000 versus a total put value of 0 Combined total value = 686,800,000
Strike 7150 has a total call value of 830,000,000 versus a total put value of 0 Combined total value = 830,000,000
Strike 7200 has a total call value of 973,200,000 versus a total put value of 0 Combined total value = 973,200,000
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.