GAIL
GAIL (INDIA) LTD
Max pain for GAIL
04 Jul 2024 12:12 PM IST
Max Pain for GAIL is 220
Strike 160 has a total call value of 0 versus a total put value of 105,305,062,500 Combined total value = 105,305,062,500
Strike 162.5 has a total call value of 0 versus a total put value of 99,959,175,000 Combined total value = 99,959,175,000
Strike 165 has a total call value of 0 versus a total put value of 94,613,287,500 Combined total value = 94,613,287,500
Strike 167.5 has a total call value of 0 versus a total put value of 89,267,400,000 Combined total value = 89,267,400,000
Strike 170 has a total call value of 0 versus a total put value of 83,921,512,500 Combined total value = 83,921,512,500
Strike 172.5 has a total call value of 0 versus a total put value of 78,596,212,500 Combined total value = 78,596,212,500
Strike 175 has a total call value of 0 versus a total put value of 73,270,912,500 Combined total value = 73,270,912,500
Strike 177.5 has a total call value of 0 versus a total put value of 67,945,612,500 Combined total value = 67,945,612,500
Strike 180 has a total call value of 0 versus a total put value of 62,620,312,500 Combined total value = 62,620,312,500
Strike 182.5 has a total call value of 0 versus a total put value of 57,450,562,500 Combined total value = 57,450,562,500
Strike 185 has a total call value of 0 versus a total put value of 52,280,812,500 Combined total value = 52,280,812,500
Strike 187.5 has a total call value of 0 versus a total put value of 47,147,662,500 Combined total value = 47,147,662,500
Strike 190 has a total call value of 0 versus a total put value of 42,014,512,500 Combined total value = 42,014,512,500
Strike 192.5 has a total call value of 0 versus a total put value of 37,370,887,500 Combined total value = 37,370,887,500
Strike 195 has a total call value of 0 versus a total put value of 32,747,850,000 Combined total value = 32,747,850,000
Strike 197.5 has a total call value of 0 versus a total put value of 28,290,656,250 Combined total value = 28,290,656,250
Strike 200 has a total call value of 0 versus a total put value of 23,847,187,500 Combined total value = 23,847,187,500
Strike 202.5 has a total call value of 130,387,500 versus a total put value of 20,387,343,750 Combined total value = 20,517,731,250
Strike 205 has a total call value of 263,062,500 versus a total put value of 16,993,837,500 Combined total value = 17,256,900,000
Strike 207.5 has a total call value of 440,343,750 versus a total put value of 13,853,100,000 Combined total value = 14,293,443,750
Strike 210 has a total call value of 640,500,000 versus a total put value of 10,768,406,250 Combined total value = 11,408,906,250
Strike 212.5 has a total call value of 1,300,443,750 versus a total put value of 8,405,418,750 Combined total value = 9,705,862,500
Strike 215 has a total call value of 2,038,162,500 versus a total put value of 6,157,950,000 Combined total value = 8,196,112,500
Strike 217.5 has a total call value of 3,136,162,500 versus a total put value of 4,313,081,250 Combined total value = 7,449,243,750
Strike 220 has a total call value of 4,323,375,000 versus a total put value of 2,552,850,000 Combined total value = 6,876,225,000
Strike 222.5 has a total call value of 7,360,031,250 versus a total put value of 1,748,793,750 Combined total value = 9,108,825,000
Strike 225 has a total call value of 10,790,137,500 versus a total put value of 1,088,850,000 Combined total value = 11,878,987,500
Strike 227.5 has a total call value of 15,342,262,500 versus a total put value of 715,987,500 Combined total value = 16,058,250,000
Strike 230 has a total call value of 20,036,212,500 versus a total put value of 367,143,750 Combined total value = 20,403,356,250
Strike 232.5 has a total call value of 26,605,912,500 versus a total put value of 236,756,250 Combined total value = 26,842,668,750
Strike 235 has a total call value of 33,360,900,000 versus a total put value of 121,237,500 Combined total value = 33,482,137,500
Strike 237.5 has a total call value of 40,584,825,000 versus a total put value of 59,475,000 Combined total value = 40,644,300,000
Strike 240 has a total call value of 47,879,662,500 versus a total put value of 8,006,250 Combined total value = 47,887,668,750
Strike 242.5 has a total call value of 56,287,368,750 versus a total put value of 0 Combined total value = 56,287,368,750
Strike 245 has a total call value of 64,743,112,500 versus a total put value of 0 Combined total value = 64,743,112,500
Strike 247.5 has a total call value of 73,395,581,250 versus a total put value of 0 Combined total value = 73,395,581,250
Strike 250 has a total call value of 82,183,012,500 versus a total put value of 0 Combined total value = 82,183,012,500
Strike 252.5 has a total call value of 91,955,212,500 versus a total put value of 0 Combined total value = 91,955,212,500
Strike 255 has a total call value of 101,750,287,500 versus a total put value of 0 Combined total value = 101,750,287,500
Strike 257.5 has a total call value of 111,816,431,250 versus a total put value of 0 Combined total value = 111,816,431,250
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.