GOLD
Gold
Max pain for GOLD
20 Dec 2024 11:40 PM IST
Max Pain for GOLD is 76500
Strike 71000 has a total call value of 0 versus a total put value of 2,537,910,000 Combined total value = 2,537,910,000
Strike 71100 has a total call value of 0 versus a total put value of 2,470,180,000 Combined total value = 2,470,180,000
Strike 71200 has a total call value of 0 versus a total put value of 2,402,450,000 Combined total value = 2,402,450,000
Strike 71300 has a total call value of 0 versus a total put value of 2,334,720,000 Combined total value = 2,334,720,000
Strike 71400 has a total call value of 0 versus a total put value of 2,266,990,000 Combined total value = 2,266,990,000
Strike 71500 has a total call value of 0 versus a total put value of 2,199,260,000 Combined total value = 2,199,260,000
Strike 71600 has a total call value of 0 versus a total put value of 2,131,530,000 Combined total value = 2,131,530,000
Strike 71700 has a total call value of 0 versus a total put value of 2,063,800,000 Combined total value = 2,063,800,000
Strike 71800 has a total call value of 0 versus a total put value of 1,996,070,000 Combined total value = 1,996,070,000
Strike 71900 has a total call value of 0 versus a total put value of 1,928,340,000 Combined total value = 1,928,340,000
Strike 72000 has a total call value of 0 versus a total put value of 1,860,610,000 Combined total value = 1,860,610,000
Strike 72100 has a total call value of 0 versus a total put value of 1,799,220,000 Combined total value = 1,799,220,000
Strike 72200 has a total call value of 0 versus a total put value of 1,737,830,000 Combined total value = 1,737,830,000
Strike 72300 has a total call value of 0 versus a total put value of 1,676,440,000 Combined total value = 1,676,440,000
Strike 72400 has a total call value of 0 versus a total put value of 1,615,050,000 Combined total value = 1,615,050,000
Strike 72500 has a total call value of 0 versus a total put value of 1,553,660,000 Combined total value = 1,553,660,000
Strike 72600 has a total call value of 0 versus a total put value of 1,492,270,000 Combined total value = 1,492,270,000
Strike 72700 has a total call value of 0 versus a total put value of 1,430,880,000 Combined total value = 1,430,880,000
Strike 72800 has a total call value of 0 versus a total put value of 1,369,490,000 Combined total value = 1,369,490,000
Strike 72900 has a total call value of 0 versus a total put value of 1,308,100,000 Combined total value = 1,308,100,000
Strike 73000 has a total call value of 0 versus a total put value of 1,246,710,000 Combined total value = 1,246,710,000
Strike 73100 has a total call value of 260,000 versus a total put value of 1,194,020,000 Combined total value = 1,194,280,000
Strike 73200 has a total call value of 520,000 versus a total put value of 1,141,330,000 Combined total value = 1,141,850,000
Strike 73300 has a total call value of 780,000 versus a total put value of 1,088,640,000 Combined total value = 1,089,420,000
Strike 73400 has a total call value of 1,040,000 versus a total put value of 1,035,950,000 Combined total value = 1,036,990,000
Strike 73500 has a total call value of 1,300,000 versus a total put value of 983,260,000 Combined total value = 984,560,000
Strike 73600 has a total call value of 1,620,000 versus a total put value of 934,340,000 Combined total value = 935,960,000
Strike 73700 has a total call value of 1,940,000 versus a total put value of 885,420,000 Combined total value = 887,360,000
Strike 73800 has a total call value of 2,260,000 versus a total put value of 836,500,000 Combined total value = 838,760,000
Strike 73900 has a total call value of 2,580,000 versus a total put value of 787,580,000 Combined total value = 790,160,000
Strike 74000 has a total call value of 2,900,000 versus a total put value of 738,660,000 Combined total value = 741,560,000
Strike 74100 has a total call value of 3,420,000 versus a total put value of 698,720,000 Combined total value = 702,140,000
Strike 74200 has a total call value of 3,940,000 versus a total put value of 658,780,000 Combined total value = 662,720,000
Strike 74300 has a total call value of 4,460,000 versus a total put value of 618,840,000 Combined total value = 623,300,000
Strike 74400 has a total call value of 4,980,000 versus a total put value of 578,900,000 Combined total value = 583,880,000
Strike 74500 has a total call value of 5,500,000 versus a total put value of 538,960,000 Combined total value = 544,460,000
Strike 74600 has a total call value of 6,150,000 versus a total put value of 501,630,000 Combined total value = 507,780,000
Strike 74700 has a total call value of 6,800,000 versus a total put value of 464,300,000 Combined total value = 471,100,000
Strike 74800 has a total call value of 7,450,000 versus a total put value of 426,970,000 Combined total value = 434,420,000
Strike 74900 has a total call value of 8,100,000 versus a total put value of 389,640,000 Combined total value = 397,740,000
Strike 75000 has a total call value of 8,750,000 versus a total put value of 352,310,000 Combined total value = 361,060,000
Strike 75100 has a total call value of 11,550,000 versus a total put value of 333,110,000 Combined total value = 344,660,000
Strike 75200 has a total call value of 14,350,000 versus a total put value of 313,910,000 Combined total value = 328,260,000
Strike 75300 has a total call value of 17,150,000 versus a total put value of 294,710,000 Combined total value = 311,860,000
Strike 75400 has a total call value of 19,950,000 versus a total put value of 275,510,000 Combined total value = 295,460,000
Strike 75500 has a total call value of 22,750,000 versus a total put value of 256,310,000 Combined total value = 279,060,000
Strike 75600 has a total call value of 25,930,000 versus a total put value of 239,560,000 Combined total value = 265,490,000
Strike 75700 has a total call value of 29,110,000 versus a total put value of 222,810,000 Combined total value = 251,920,000
Strike 75800 has a total call value of 32,290,000 versus a total put value of 206,060,000 Combined total value = 238,350,000
Strike 75900 has a total call value of 35,470,000 versus a total put value of 189,330,000 Combined total value = 224,800,000
Strike 76000 has a total call value of 38,650,000 versus a total put value of 172,600,000 Combined total value = 211,250,000
Strike 76100 has a total call value of 46,490,000 versus a total put value of 162,100,000 Combined total value = 208,590,000
Strike 76200 has a total call value of 54,330,000 versus a total put value of 151,600,000 Combined total value = 205,930,000
Strike 76300 has a total call value of 62,170,000 versus a total put value of 141,100,000 Combined total value = 203,270,000
Strike 76400 has a total call value of 70,010,000 versus a total put value of 130,600,000 Combined total value = 200,610,000
Strike 76500 has a total call value of 77,850,000 versus a total put value of 120,100,000 Combined total value = 197,950,000
Strike 76600 has a total call value of 87,750,000 versus a total put value of 110,260,000 Combined total value = 198,010,000
Strike 76700 has a total call value of 97,650,000 versus a total put value of 100,420,000 Combined total value = 198,070,000
Strike 76800 has a total call value of 107,550,000 versus a total put value of 90,580,000 Combined total value = 198,130,000
Strike 76900 has a total call value of 117,450,000 versus a total put value of 80,740,000 Combined total value = 198,190,000
Strike 77000 has a total call value of 127,350,000 versus a total put value of 70,900,000 Combined total value = 198,250,000
Strike 77100 has a total call value of 147,550,000 versus a total put value of 65,270,000 Combined total value = 212,820,000
Strike 77200 has a total call value of 167,750,000 versus a total put value of 59,640,000 Combined total value = 227,390,000
Strike 77300 has a total call value of 187,950,000 versus a total put value of 54,010,000 Combined total value = 241,960,000
Strike 77400 has a total call value of 208,150,000 versus a total put value of 48,380,000 Combined total value = 256,530,000
Strike 77500 has a total call value of 228,350,000 versus a total put value of 42,750,000 Combined total value = 271,100,000
Strike 77600 has a total call value of 251,610,000 versus a total put value of 37,330,000 Combined total value = 288,940,000
Strike 77700 has a total call value of 274,870,000 versus a total put value of 31,910,000 Combined total value = 306,780,000
Strike 77800 has a total call value of 298,130,000 versus a total put value of 26,490,000 Combined total value = 324,620,000
Strike 77900 has a total call value of 321,390,000 versus a total put value of 21,070,000 Combined total value = 342,460,000
Strike 78000 has a total call value of 344,650,000 versus a total put value of 15,650,000 Combined total value = 360,300,000
Strike 78100 has a total call value of 383,180,000 versus a total put value of 13,840,000 Combined total value = 397,020,000
Strike 78200 has a total call value of 421,710,000 versus a total put value of 12,030,000 Combined total value = 433,740,000
Strike 78300 has a total call value of 460,240,000 versus a total put value of 10,220,000 Combined total value = 470,460,000
Strike 78400 has a total call value of 498,770,000 versus a total put value of 8,410,000 Combined total value = 507,180,000
Strike 78500 has a total call value of 537,300,000 versus a total put value of 6,600,000 Combined total value = 543,900,000
Strike 78600 has a total call value of 580,090,000 versus a total put value of 5,280,000 Combined total value = 585,370,000
Strike 78700 has a total call value of 622,880,000 versus a total put value of 3,960,000 Combined total value = 626,840,000
Strike 78800 has a total call value of 665,670,000 versus a total put value of 2,640,000 Combined total value = 668,310,000
Strike 78900 has a total call value of 708,460,000 versus a total put value of 1,320,000 Combined total value = 709,780,000
Strike 79000 has a total call value of 751,250,000 versus a total put value of 0 Combined total value = 751,250,000
Strike 79100 has a total call value of 806,350,000 versus a total put value of 0 Combined total value = 806,350,000
Strike 79200 has a total call value of 861,450,000 versus a total put value of 0 Combined total value = 861,450,000
Strike 79300 has a total call value of 916,550,000 versus a total put value of 0 Combined total value = 916,550,000
Strike 79400 has a total call value of 971,650,000 versus a total put value of 0 Combined total value = 971,650,000
Strike 79500 has a total call value of 1,026,750,000 versus a total put value of 0 Combined total value = 1,026,750,000
Strike 79600 has a total call value of 1,084,790,000 versus a total put value of 0 Combined total value = 1,084,790,000
Strike 79700 has a total call value of 1,142,830,000 versus a total put value of 0 Combined total value = 1,142,830,000
Strike 79800 has a total call value of 1,200,870,000 versus a total put value of 0 Combined total value = 1,200,870,000
Strike 79900 has a total call value of 1,258,910,000 versus a total put value of 0 Combined total value = 1,258,910,000
Strike 80000 has a total call value of 1,316,950,000 versus a total put value of 0 Combined total value = 1,316,950,000
Strike 80100 has a total call value of 1,387,190,000 versus a total put value of 0 Combined total value = 1,387,190,000
Strike 80200 has a total call value of 1,457,430,000 versus a total put value of 0 Combined total value = 1,457,430,000
Strike 80300 has a total call value of 1,527,670,000 versus a total put value of 0 Combined total value = 1,527,670,000
Strike 80400 has a total call value of 1,597,910,000 versus a total put value of 0 Combined total value = 1,597,910,000
Strike 80500 has a total call value of 1,668,150,000 versus a total put value of 0 Combined total value = 1,668,150,000
Strike 80600 has a total call value of 1,738,390,000 versus a total put value of 0 Combined total value = 1,738,390,000
Strike 80700 has a total call value of 1,808,630,000 versus a total put value of 0 Combined total value = 1,808,630,000
Strike 80800 has a total call value of 1,878,870,000 versus a total put value of 0 Combined total value = 1,878,870,000
Strike 80900 has a total call value of 1,949,110,000 versus a total put value of 0 Combined total value = 1,949,110,000
Strike 81000 has a total call value of 2,019,350,000 versus a total put value of 0 Combined total value = 2,019,350,000
Strike 81100 has a total call value of 2,094,960,000 versus a total put value of 0 Combined total value = 2,094,960,000
Strike 81200 has a total call value of 2,170,570,000 versus a total put value of 0 Combined total value = 2,170,570,000
Strike 81300 has a total call value of 2,246,180,000 versus a total put value of 0 Combined total value = 2,246,180,000
Strike 81400 has a total call value of 2,321,790,000 versus a total put value of 0 Combined total value = 2,321,790,000
Strike 81500 has a total call value of 2,397,400,000 versus a total put value of 0 Combined total value = 2,397,400,000
Strike 81600 has a total call value of 2,473,010,000 versus a total put value of 0 Combined total value = 2,473,010,000
Strike 81700 has a total call value of 2,548,620,000 versus a total put value of 0 Combined total value = 2,548,620,000
Strike 81800 has a total call value of 2,624,230,000 versus a total put value of 0 Combined total value = 2,624,230,000
Strike 81900 has a total call value of 2,699,840,000 versus a total put value of 0 Combined total value = 2,699,840,000
Strike 82000 has a total call value of 2,775,450,000 versus a total put value of 0 Combined total value = 2,775,450,000
Strike 82100 has a total call value of 2,853,900,000 versus a total put value of 0 Combined total value = 2,853,900,000
Strike 82200 has a total call value of 2,932,350,000 versus a total put value of 0 Combined total value = 2,932,350,000
Strike 82300 has a total call value of 3,010,800,000 versus a total put value of 0 Combined total value = 3,010,800,000
Strike 82400 has a total call value of 3,089,250,000 versus a total put value of 0 Combined total value = 3,089,250,000
Strike 82500 has a total call value of 3,167,700,000 versus a total put value of 0 Combined total value = 3,167,700,000
Strike 82600 has a total call value of 3,246,150,000 versus a total put value of 0 Combined total value = 3,246,150,000
Strike 82700 has a total call value of 3,324,600,000 versus a total put value of 0 Combined total value = 3,324,600,000
Strike 82800 has a total call value of 3,403,050,000 versus a total put value of 0 Combined total value = 3,403,050,000
Strike 82900 has a total call value of 3,481,500,000 versus a total put value of 0 Combined total value = 3,481,500,000
Strike 83000 has a total call value of 3,559,950,000 versus a total put value of 0 Combined total value = 3,559,950,000
Max-Pain Table for Monthly Expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| AARTIIND | 403.85 | 450 |
| ABB | 6921.25 | 7300 |
| ABBOTINDIA | 28655.35 | 28000 |
| ABCAPITAL | 186.21 | 200 |
| ABFRL | 282.2 | 300 |
| ACC | 2063.65 | 2260 |
| ADANIENSOL | 767.55 | 800 |
| ADANIENT | 2344.95 | 2500 |
| ADANIGREEN | 1034.35 | 1120 |
| ADANIPORTS | 1182.45 | 1240 |
| ALKEM | 5427.5 | 5500 |
| AMBUJACEM | 548.8 | 560 |
| ANGELONE | 2881.7 | 3100 |
| APLAPOLLO | 1559 | 1600 |
| APOLLOHOSP | 7251.7 | 7200 |
| APOLLOTYRE | 531.95 | 530 |
| ASHOKLEY | 217.28 | 225 |
| ASIANPAINT | 2282.35 | 2400 |
| ASTRAL | 1734.6 | 1820 |
| ATGL | 674.35 | 720 |
| ATUL | 7023.15 | 7300 |
| AUBANK | 537.6 | 570 |
| AUROPHARMA | 1241.7 | 1240 |
| AXISBANK | 1071.85 | 1120 |
| BAJAJ-AUTO | 8787.25 | 9000 |
| BAJAJFINSV | 1569.65 | 1640 |
| BAJFINANCE | 6848.25 | 7000 |
| BALKRISIND | 2790.05 | 2800 |
| BANDHANBNK | 159.05 | 170 |
| BANKBARODA | 240.59 | 250 |
| BANKINDIA | 103.03 | 110 |
| BATAINDIA | 1342.25 | 1400 |
| BEL | 290.85 | 310 |
| BERGEPAINT | 444.8 | 465 |
| BHARATFORG | 1278.9 | 1340 |
| BHARTIARTL | 1578.1 | 1600 |
| BHEL | 235.3 | 250 |
| BIOCON | 335.95 | 355 |
| BOSCHLTD | 34576.95 | 35000 |
| BPCL | 289.05 | 295 |
| BRITANNIA | 4698.1 | 4800 |
| BSE | 5542.85 | 5300 |
| BSOFT | 577 | 600 |
| CAMS | 4951 | 5100 |
| CANBK | 99.61 | 104 |
| CANFINHOME | 747.7 | 790 |
| CDSL | 1860.75 | 1860 |
| CESC | 182.74 | 190 |
| CGPOWER | 730.05 | 760 |
| CHAMBLFERT | 509.15 | 520 |
| CHOLAFIN | 1189.55 | 1260 |
| CIPLA | 1472.05 | 1480 |
| COALINDIA | 382 | 414.25 |
| COFORGE | 9370.45 | 9200 |
| COLPAL | 2750.85 | 2850 |
| CONCOR | 767.95 | 830 |
| COROMANDEL | 1839.3 | 1800 |
| CROMPTON | 388.25 | 405 |
| CUB | 175.42 | 180 |
| CUMMINSIND | 3312.9 | 3450 |
| CYIENT | 1924.4 | 2000 |
| DABUR | 502.55 | 510 |
| DALBHARAT | 1801.9 | 1880 |
| DEEPAKNTR | 2596.85 | 2700 |
| DELHIVERY | 349.6 | 365 |
| DIVISLAB | 5846.75 | 6000 |
| DIXON | 17944.9 | 18000 |
| DLF | 830.7 | 850 |
| DMART | 3408.3 | 3600 |
| DRREDDY | 1343.65 | 1300 |
| EICHERMOT | 4734.5 | 4800 |
| ESCORTS | 3162.05 | 3350 |
| EXIDEIND | 426.3 | 450 |
| FEDERALBNK | 194.46 | 205 |
| GAIL | 192.42 | 200 |
| GLENMARK | 1541.65 | 1520 |
| GMRAIRPORT | 78.82 | 85 |
| GMRINFRA | 0 | 36 |
| GNFC | 583.8 | 610 |
| GODREJCP | 1069.6 | 1120 |
| GODREJPROP | 2855.95 | 2900 |
| GRANULES | 592.4 | 580 |
| GRASIM | 2488.7 | 2620 |
| GUJGASLTD | 499.8 | 500 |
| HAL | 4190.2 | 4500 |
| HAVELLS | 1657.4 | 1720 |
| HCLTECH | 1911.35 | 1900 |
| HDFCAMC | 4262.8 | 4400 |
| HDFCBANK | 1771.5 | 1800 |
| HDFCLIFE | 623.8 | 640 |
| HEROMOTOCO | 4339.95 | 4600 |
| HFCL | 113.35 | 120 |
| HINDALCO | 622.65 | 650 |
| HINDCOPPER | 271.5 | 290 |
| HINDPETRO | 399.5 | 400 |
| HINDUNILVR | 2333.9 | 2400 |
| HUDCO | 242.11 | 245 |
| ICICIBANK | 1288.4 | 1300 |
| ICICIGI | 1902.15 | 1920 |
| ICICIPRULI | 653.9 | 670 |
| IDEA | 7.4 | 8 |
| IDFCFIRSTB | 61.68 | 65 |
| IEX | 177.45 | 182.5 |
| IGL | 388.3 | 370 |
| INDHOTEL | 854.1 | 850 |
| INDIAMART | 2249.95 | 2350 |
| INDIANB | 537.15 | 580 |
| INDIGO | 4395.6 | 4400 |
| INDUSINDBK | 929.45 | 980 |
| INDUSTOWER | 337.1 | 350 |
| INFY | 1922.15 | 1920 |
| IOC | 137.08 | 142.5 |
| IPCALAB | 1582.5 | 1560 |
| IRB | 55.09 | 57 |
| IRCTC | 784.25 | 830 |
| IRFC | 148.41 | 155 |
| ITC | 464.65 | 470 |
| JINDALSTEL | 908.05 | 940 |
| JIOFIN | 304.3 | 325 |
| JKCEMENT | 4517.8 | 4600 |
| JSL | 719.8 | 730 |
| JSWENERGY | 669.8 | 660 |
| JSWSTEEL | 917.35 | 950 |
| JUBLFOOD | 672.7 | 670 |
| KALYANKJIL | 719.2 | 740 |
| KEI | 4166.25 | 4400 |
| KOTAKBANK | 1743.55 | 1780 |
| KPITTECH | 1451.25 | 1500 |
| LALPATHLAB | 2946.25 | 3050 |
| LAURUSLABS | 559.2 | 570 |
| LICHSGFIN | 582.25 | 620 |
| LICI | 901.7 | 940 |
| LODHA | 1400.7 | 1440 |
| LT | 3629.85 | 3750 |
| LTF | 136.48 | 145 |
| LTIM | 5824.3 | 6150 |
| LTTS | 4828.5 | 5200 |
| LUPIN | 2150.7 | 2100 |
| M&M | 2906.35 | 3000 |
| M&MFIN | 266.05 | 275 |
| MANAPPURAM | 181.03 | 180 |
| MARICO | 627.95 | 630 |
| MARUTI | 10901.05 | 11100 |
| MAXHEALTH | 1165.2 | 1140 |
| MCX | 6397.4 | 6500 |
| METROPOLIS | 2058.05 | 2120 |
| MFSL | 1109.2 | 1140 |
| MGL | 1215.3 | 1260 |
| MOTHERSON | 156.06 | 165 |
| MPHASIS | 2950.6 | 3100 |
| MRF | 128057.9 | 130000 |
| MUTHOOTFIN | 2075.65 | 2060 |
| NATIONALUM | 215.36 | 232.5 |
| NAUKRI | 8494.95 | 8600 |
| NAVINFLUOR | 3305.85 | 3500 |
| NCC | 287.55 | 300 |
| NESTLEIND | 2163.5 | 2220 |
| NHPC | 81.47 | 85 |
| NMDC | 213.15 | 230 |
| NTPC | 333.25 | 350 |
| NYKAA | 167.33 | 170 |
| OBEROIRLTY | 2247.8 | 2200 |
| OFSS | 12247.55 | 12500 |
| OIL | 421.8 | 450 |
| ONGC | 237.1 | 250 |
| PAGEIND | 48856.35 | 48500 |
| PAYTM | 945.25 | 980 |
| PEL | 1093.7 | 1160 |
| PERSISTENT | 6368.7 | 6400 |
| PETRONET | 336.45 | 340 |
| PFC | 453.3 | 480 |
| PIDILITIND | 2976.8 | 3080 |
| PIIND | 3813.75 | 4000 |
| PNB | 100.77 | 105 |
| POLICYBZR | 2092.15 | 2000 |
| POLYCAB | 7178.25 | 7300 |
| POONAWALLA | 318.85 | 340 |
| POWERGRID | 315.8 | 325 |
| PRESTIGE | 1794.5 | 1800 |
| PVRINOX | 1382.1 | 1520 |
| RAMCOCEM | 986.1 | 1010 |
| RBLBANK | 152.79 | 160 |
| RECLTD | 513.25 | 530 |
| RELIANCE | 1205.3 | 1280 |
| SAIL | 116.1 | 125 |
| SBICARD | 687 | 710 |
| SBILIFE | 1400.6 | 1420 |
| SBIN | 812 | 840 |
| SHREECEM | 27063.5 | 27000 |
| SHRIRAMFIN | 2877.25 | 3000 |
| SIEMENS | 6868.9 | 7300 |
| SJVN | 111.54 | 117.5 |
| SONACOMS | 588.45 | 620 |
| SRF | 2277.6 | 2300 |
| SUNPHARMA | 1808.85 | 1800 |
| SUNTV | 696.85 | 730 |
| SUPREMEIND | 4839.8 | 4900 |
| SYNGENE | 844 | 860 |
| TATACHEM | 1028.85 | 1080 |
| TATACOMM | 1710.45 | 1800 |
| TATACONSUM | 889.45 | 930 |
| TATAELXSI | 6921.6 | 7200 |
| TATAMOTORS | 724.05 | 770 |
| TATAPOWER | 401.1 | 420 |
| TATASTEEL | 140.68 | 147.5 |
| TCS | 4170.3 | 4300 |
| TECHM | 1686.05 | 1740 |
| TIINDIA | 3619.1 | 3700 |
| TITAN | 3356.25 | 3400 |
| TORNTPHARM | 3437 | 3400 |
| TRENT | 6831.55 | 6900 |
| TVSMOTOR | 2391.65 | 2500 |
| UBL | 2025.35 | 2000 |
| ULTRACEMCO | 11422.8 | 11500 |
| UNIONBANK | 116.78 | 125 |
| UNITDSPR | 1544.8 | 1540 |
| UPL | 504.5 | 537.2 |
| VBL | 612.55 | 630 |
| VEDL | 477.25 | 490 |
| VOLTAS | 1686.5 | 1740 |
| WIPRO | 305.2 | 302.5 |
| YESBANK | 19.83 | 21 |
| ZOMATO | 282.1 | 285 |
| ZYDUSLIFE | 973.5 | 980 |
Note:
| Stock LTP > Max Pain | Bearish Trend |
| Stock LTP < Max Pain | Bullish Trend |
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.
