1273.4 5.95 (0.47%)

Strike  1000  has a total call value of 0  versus a total put value of  1,806,500,000 Combined total value = 1,806,500,000

Strike  1010  has a total call value of 1,000,000  versus a total put value of  1,718,500,000 Combined total value = 1,719,500,000

Strike  1020  has a total call value of 2,000,000  versus a total put value of  1,630,500,000 Combined total value = 1,632,500,000

Strike  1030  has a total call value of 3,000,000  versus a total put value of  1,542,500,000 Combined total value = 1,545,500,000

Strike  1040  has a total call value of 4,000,000  versus a total put value of  1,454,500,000 Combined total value = 1,458,500,000

Strike  1050  has a total call value of 5,000,000  versus a total put value of  1,366,500,000 Combined total value = 1,371,500,000

Strike  1060  has a total call value of 6,000,000  versus a total put value of  1,278,500,000 Combined total value = 1,284,500,000

Strike  1070  has a total call value of 7,000,000  versus a total put value of  1,190,500,000 Combined total value = 1,197,500,000

Strike  1080  has a total call value of 8,000,000  versus a total put value of  1,102,500,000 Combined total value = 1,110,500,000

Strike  1090  has a total call value of 9,000,000  versus a total put value of  1,014,500,000 Combined total value = 1,023,500,000

Strike  1100  has a total call value of 10,000,000  versus a total put value of  926,500,000 Combined total value = 936,500,000

Strike  1110  has a total call value of 11,000,000  versus a total put value of  845,000,000 Combined total value = 856,000,000

Strike  1120  has a total call value of 12,000,000  versus a total put value of  763,500,000 Combined total value = 775,500,000

Strike  1130  has a total call value of 13,000,000  versus a total put value of  682,000,000 Combined total value = 695,000,000

Strike  1140  has a total call value of 14,000,000  versus a total put value of  600,500,000 Combined total value = 614,500,000

Strike  1150  has a total call value of 15,000,000  versus a total put value of  519,500,000 Combined total value = 534,500,000

Strike  1160  has a total call value of 16,000,000  versus a total put value of  438,500,000 Combined total value = 454,500,000

Strike  1170  has a total call value of 17,000,000  versus a total put value of  357,500,000 Combined total value = 374,500,000

Strike  1180  has a total call value of 18,000,000  versus a total put value of  276,500,000 Combined total value = 294,500,000

Strike  1190  has a total call value of 19,000,000  versus a total put value of  195,500,000 Combined total value = 214,500,000

Strike  1200  has a total call value of 20,000,000  versus a total put value of  114,500,000 Combined total value = 134,500,000

Strike  1210  has a total call value of 21,000,000  versus a total put value of  101,500,000 Combined total value = 122,500,000

Strike  1220  has a total call value of 22,000,000  versus a total put value of  88,500,000 Combined total value = 110,500,000

Strike  1230  has a total call value of 24,500,000  versus a total put value of  75,500,000 Combined total value = 100,000,000

Strike  1240  has a total call value of 27,000,000  versus a total put value of  62,500,000 Combined total value = 89,500,000

Strike  1250  has a total call value of 31,000,000  versus a total put value of  49,500,000 Combined total value = 80,500,000

Strike  1260  has a total call value of 75,000,000  versus a total put value of  36,500,000 Combined total value = 111,500,000

Strike  1270  has a total call value of 137,000,000  versus a total put value of  23,500,000 Combined total value = 160,500,000

Strike  1280  has a total call value of 220,500,000  versus a total put value of  17,000,000 Combined total value = 237,500,000

Strike  1290  has a total call value of 329,500,000  versus a total put value of  13,500,000 Combined total value = 343,000,000

Strike  1300  has a total call value of 438,500,000  versus a total put value of  10,000,000 Combined total value = 448,500,000

Strike  1310  has a total call value of 698,000,000  versus a total put value of  7,000,000 Combined total value = 705,000,000

Strike  1320  has a total call value of 957,500,000  versus a total put value of  4,000,000 Combined total value = 961,500,000

Strike  1330  has a total call value of 1,217,000,000  versus a total put value of  2,500,000 Combined total value = 1,219,500,000

Strike  1340  has a total call value of 1,476,500,000  versus a total put value of  1,000,000 Combined total value = 1,477,500,000

Strike  1350  has a total call value of 1,736,000,000  versus a total put value of  0 Combined total value = 1,736,000,000

Strike  1360  has a total call value of 2,036,000,000  versus a total put value of  0 Combined total value = 2,036,000,000

Max Pain - Choose a symbol

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:
  1. Find the difference between stock price and strike price
  2. Multiply the result by open interest at that strike
  3. Add together the dollar value for the put and call at that strike
  4. Repeat for each strike price
  5. 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.