GAIL
GAIL (INDIA) LTD
Max pain for GAIL
02 Jul 2024 11:02 AM IST
Max Pain for GAIL is 220
Strike 180 has a total call value of 0 versus a total put value of 54,126,825,000 Combined total value = 54,126,825,000
Strike 182.5 has a total call value of 0 versus a total put value of 49,643,325,000 Combined total value = 49,643,325,000
Strike 185 has a total call value of 0 versus a total put value of 45,159,825,000 Combined total value = 45,159,825,000
Strike 187.5 has a total call value of 0 versus a total put value of 40,717,500,000 Combined total value = 40,717,500,000
Strike 190 has a total call value of 0 versus a total put value of 36,275,175,000 Combined total value = 36,275,175,000
Strike 192.5 has a total call value of 0 versus a total put value of 32,261,756,250 Combined total value = 32,261,756,250
Strike 195 has a total call value of 0 versus a total put value of 28,260,918,750 Combined total value = 28,260,918,750
Strike 197.5 has a total call value of 0 versus a total put value of 24,391,612,500 Combined total value = 24,391,612,500
Strike 200 has a total call value of 0 versus a total put value of 20,537,175,000 Combined total value = 20,537,175,000
Strike 202.5 has a total call value of 134,962,500 versus a total put value of 17,461,631,250 Combined total value = 17,596,593,750
Strike 205 has a total call value of 269,925,000 versus a total put value of 14,434,125,000 Combined total value = 14,704,050,000
Strike 207.5 has a total call value of 404,887,500 versus a total put value of 11,684,550,000 Combined total value = 12,089,437,500
Strike 210 has a total call value of 562,725,000 versus a total put value of 9,019,612,500 Combined total value = 9,582,337,500
Strike 212.5 has a total call value of 1,116,300,000 versus a total put value of 7,004,325,000 Combined total value = 8,120,625,000
Strike 215 has a total call value of 1,743,075,000 versus a total put value of 5,093,118,750 Combined total value = 6,836,193,750
Strike 217.5 has a total call value of 2,715,262,500 versus a total put value of 3,566,212,500 Combined total value = 6,281,475,000
Strike 220 has a total call value of 3,734,343,750 versus a total put value of 2,112,506,250 Combined total value = 5,846,850,000
Strike 222.5 has a total call value of 6,063,018,750 versus a total put value of 1,469,718,750 Combined total value = 7,532,737,500
Strike 225 has a total call value of 8,596,425,000 versus a total put value of 902,418,750 Combined total value = 9,498,843,750
Strike 227.5 has a total call value of 12,182,081,250 versus a total put value of 576,450,000 Combined total value = 12,758,531,250
Strike 230 has a total call value of 15,876,393,750 versus a total put value of 284,793,750 Combined total value = 16,161,187,500
Strike 232.5 has a total call value of 21,139,931,250 versus a total put value of 191,006,250 Combined total value = 21,330,937,500
Strike 235 has a total call value of 26,668,818,750 versus a total put value of 106,368,750 Combined total value = 26,775,187,500
Strike 237.5 has a total call value of 32,584,293,750 versus a total put value of 60,618,750 Combined total value = 32,644,912,500
Strike 240 has a total call value of 38,531,793,750 versus a total put value of 18,300,000 Combined total value = 38,550,093,750
Strike 242.5 has a total call value of 45,428,606,250 versus a total put value of 11,437,500 Combined total value = 45,440,043,750
Strike 245 has a total call value of 52,360,875,000 versus a total put value of 6,862,500 Combined total value = 52,367,737,500
Strike 247.5 has a total call value of 59,462,418,750 versus a total put value of 3,431,250 Combined total value = 59,465,850,000
Strike 250 has a total call value of 66,622,293,750 versus a total put value of 2,287,500 Combined total value = 66,624,581,250
Strike 252.5 has a total call value of 74,603,381,250 versus a total put value of 1,143,750 Combined total value = 74,604,525,000
Strike 255 has a total call value of 82,593,618,750 versus a total put value of 0 Combined total value = 82,593,618,750
Strike 257.5 has a total call value of 90,867,506,250 versus a total put value of 0 Combined total value = 90,867,506,250
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.