FINNIFTY
NIFTY FINANCIAL SERVICES
Max pain for FINNIFTY
25 Sep 2023 12:25 PM IST
Max Pain for FINNIFTY is 19800
Strike 16500 has a total call value of 0 versus a total put value of 139,074,366,000 Combined total value = 139,074,366,000
Strike 17000 has a total call value of 0 versus a total put value of 115,724,566,000 Combined total value = 115,724,566,000
Strike 17500 has a total call value of 0 versus a total put value of 92,412,286,000 Combined total value = 92,412,286,000
Strike 17600 has a total call value of 0 versus a total put value of 87,762,530,000 Combined total value = 87,762,530,000
Strike 17700 has a total call value of 0 versus a total put value of 83,121,698,000 Combined total value = 83,121,698,000
Strike 17800 has a total call value of 0 versus a total put value of 78,488,326,000 Combined total value = 78,488,326,000
Strike 17900 has a total call value of 0 versus a total put value of 73,862,778,000 Combined total value = 73,862,778,000
Strike 18000 has a total call value of 0 versus a total put value of 69,241,162,000 Combined total value = 69,241,162,000
Strike 18100 has a total call value of 0 versus a total put value of 64,643,466,000 Combined total value = 64,643,466,000
Strike 18200 has a total call value of 0 versus a total put value of 60,051,230,000 Combined total value = 60,051,230,000
Strike 18300 has a total call value of 0 versus a total put value of 55,463,710,000 Combined total value = 55,463,710,000
Strike 18400 has a total call value of 0 versus a total put value of 50,882,886,000 Combined total value = 50,882,886,000
Strike 18500 has a total call value of 0 versus a total put value of 46,311,786,000 Combined total value = 46,311,786,000
Strike 18600 has a total call value of 8,000 versus a total put value of 41,778,814,000 Combined total value = 41,778,822,000
Strike 18650 has a total call value of 12,000 versus a total put value of 39,523,250,000 Combined total value = 39,523,262,000
Strike 18700 has a total call value of 16,000 versus a total put value of 37,269,532,000 Combined total value = 37,269,548,000
Strike 18750 has a total call value of 24,000 versus a total put value of 35,030,310,000 Combined total value = 35,030,334,000
Strike 18800 has a total call value of 36,000 versus a total put value of 32,793,540,000 Combined total value = 32,793,576,000
Strike 18850 has a total call value of 52,000 versus a total put value of 30,596,244,000 Combined total value = 30,596,296,000
Strike 18900 has a total call value of 68,000 versus a total put value of 28,405,710,000 Combined total value = 28,405,778,000
Strike 18950 has a total call value of 88,000 versus a total put value of 26,247,922,000 Combined total value = 26,248,010,000
Strike 19000 has a total call value of 112,000 versus a total put value of 24,097,456,000 Combined total value = 24,097,568,000
Strike 19050 has a total call value of 188,000 versus a total put value of 22,042,176,000 Combined total value = 22,042,364,000
Strike 19100 has a total call value of 272,000 versus a total put value of 19,999,118,000 Combined total value = 19,999,390,000
Strike 19150 has a total call value of 356,000 versus a total put value of 17,991,462,000 Combined total value = 17,991,818,000
Strike 19200 has a total call value of 452,000 versus a total put value of 16,008,620,000 Combined total value = 16,009,072,000
Strike 19250 has a total call value of 558,000 versus a total put value of 14,124,042,000 Combined total value = 14,124,600,000
Strike 19300 has a total call value of 664,000 versus a total put value of 12,286,348,000 Combined total value = 12,287,012,000
Strike 19350 has a total call value of 14,540,000 versus a total put value of 10,581,070,000 Combined total value = 10,595,610,000
Strike 19400 has a total call value of 28,432,000 versus a total put value of 8,927,742,000 Combined total value = 8,956,174,000
Strike 19450 has a total call value of 42,510,000 versus a total put value of 7,418,476,000 Combined total value = 7,460,986,000
Strike 19500 has a total call value of 56,876,000 versus a total put value of 5,985,920,000 Combined total value = 6,042,796,000
Strike 19550 has a total call value of 73,554,000 versus a total put value of 4,696,616,000 Combined total value = 4,770,170,000
Strike 19600 has a total call value of 92,212,000 versus a total put value of 3,498,580,000 Combined total value = 3,590,792,000
Strike 19650 has a total call value of 119,350,000 versus a total put value of 2,500,352,000 Combined total value = 2,619,702,000
Strike 19700 has a total call value of 158,064,000 versus a total put value of 1,664,626,000 Combined total value = 1,822,690,000
Strike 19750 has a total call value of 248,610,000 versus a total put value of 1,083,604,000 Combined total value = 1,332,214,000
Strike 19800 has a total call value of 421,948,000 versus a total put value of 712,124,000 Combined total value = 1,134,072,000
Strike 19850 has a total call value of 811,826,000 versus a total put value of 541,934,000 Combined total value = 1,353,760,000
Strike 19900 has a total call value of 1,357,994,000 versus a total put value of 413,018,000 Combined total value = 1,771,012,000
Strike 19950 has a total call value of 2,116,150,000 versus a total put value of 328,496,000 Combined total value = 2,444,646,000
Strike 20000 has a total call value of 3,021,152,000 versus a total put value of 258,168,000 Combined total value = 3,279,320,000
Strike 20050 has a total call value of 4,183,184,000 versus a total put value of 206,108,000 Combined total value = 4,389,292,000
Strike 20100 has a total call value of 5,447,264,000 versus a total put value of 159,256,000 Combined total value = 5,606,520,000
Strike 20150 has a total call value of 6,887,236,000 versus a total put value of 116,784,000 Combined total value = 7,004,020,000
Strike 20200 has a total call value of 8,474,662,000 versus a total put value of 79,372,000 Combined total value = 8,554,034,000
Strike 20250 has a total call value of 10,282,172,000 versus a total put value of 59,582,000 Combined total value = 10,341,754,000
Strike 20300 has a total call value of 12,193,868,000 versus a total put value of 42,984,000 Combined total value = 12,236,852,000
Strike 20350 has a total call value of 14,215,760,000 versus a total put value of 31,288,000 Combined total value = 14,247,048,000
Strike 20400 has a total call value of 16,275,802,000 versus a total put value of 21,114,000 Combined total value = 16,296,916,000
Strike 20450 has a total call value of 18,422,030,000 versus a total put value of 13,058,000 Combined total value = 18,435,088,000
Strike 20500 has a total call value of 20,600,440,000 versus a total put value of 6,466,000 Combined total value = 20,606,906,000
Strike 20550 has a total call value of 22,932,938,000 versus a total put value of 3,696,000 Combined total value = 22,936,634,000
Strike 20600 has a total call value of 25,291,304,000 versus a total put value of 1,724,000 Combined total value = 25,293,028,000
Strike 20650 has a total call value of 27,719,172,000 versus a total put value of 980,000 Combined total value = 27,720,152,000
Strike 20700 has a total call value of 30,172,794,000 versus a total put value of 578,000 Combined total value = 30,173,372,000
Strike 20750 has a total call value of 32,689,146,000 versus a total put value of 422,000 Combined total value = 32,689,568,000
Strike 20800 has a total call value of 35,216,646,000 versus a total put value of 338,000 Combined total value = 35,216,984,000
Strike 20850 has a total call value of 37,799,852,000 versus a total put value of 276,000 Combined total value = 37,800,128,000
Strike 20900 has a total call value of 40,394,058,000 versus a total put value of 222,000 Combined total value = 40,394,280,000
Strike 20950 has a total call value of 43,006,578,000 versus a total put value of 172,000 Combined total value = 43,006,750,000
Strike 21000 has a total call value of 45,623,792,000 versus a total put value of 126,000 Combined total value = 45,623,918,000
Strike 21050 has a total call value of 48,308,552,000 versus a total put value of 100,000 Combined total value = 48,308,652,000
Strike 21100 has a total call value of 50,995,660,000 versus a total put value of 78,000 Combined total value = 50,995,738,000
Strike 21150 has a total call value of 53,691,490,000 versus a total put value of 60,000 Combined total value = 53,691,550,000
Strike 21200 has a total call value of 56,389,870,000 versus a total put value of 48,000 Combined total value = 56,389,918,000
Strike 21250 has a total call value of 59,099,628,000 versus a total put value of 40,000 Combined total value = 59,099,668,000
Strike 21300 has a total call value of 61,810,644,000 versus a total put value of 32,000 Combined total value = 61,810,676,000
Strike 21350 has a total call value of 64,525,206,000 versus a total put value of 24,000 Combined total value = 64,525,230,000
Strike 21400 has a total call value of 67,240,910,000 versus a total put value of 16,000 Combined total value = 67,240,926,000
Strike 21450 has a total call value of 69,960,412,000 versus a total put value of 8,000 Combined total value = 69,960,420,000
Strike 21500 has a total call value of 72,680,602,000 versus a total put value of 0 Combined total value = 72,680,602,000
Strike 21550 has a total call value of 75,440,860,000 versus a total put value of 0 Combined total value = 75,440,860,000
Strike 21600 has a total call value of 78,201,680,000 versus a total put value of 0 Combined total value = 78,201,680,000
Strike 21700 has a total call value of 83,740,004,000 versus a total put value of 0 Combined total value = 83,740,004,000
Strike 21800 has a total call value of 89,291,560,000 versus a total put value of 0 Combined total value = 89,291,560,000
Strike 21900 has a total call value of 94,855,008,000 versus a total put value of 0 Combined total value = 94,855,008,000
Strike 22000 has a total call value of 100,422,148,000 versus a total put value of 0 Combined total value = 100,422,148,000
Strike 22100 has a total call value of 106,034,792,000 versus a total put value of 0 Combined total value = 106,034,792,000
Strike 22200 has a total call value of 111,650,332,000 versus a total put value of 0 Combined total value = 111,650,332,000
Strike 22300 has a total call value of 117,268,012,000 versus a total put value of 0 Combined total value = 117,268,012,000
Strike 22400 has a total call value of 122,888,296,000 versus a total put value of 0 Combined total value = 122,888,296,000
Strike 22500 has a total call value of 128,511,948,000 versus a total put value of 0 Combined total value = 128,511,948,000
Strike 22600 has a total call value of 134,141,360,000 versus a total put value of 0 Combined total value = 134,141,360,000
Strike 23000 has a total call value of 156,668,256,000 versus a total put value of 0 Combined total value = 156,668,256,000
Strike 23500 has a total call value of 184,863,036,000 versus a total put value of 0 Combined total value = 184,863,036,000
Max Pain - Choose a symbol
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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.