GOLDM
Gold Mini
Max pain for GOLDM
03 Dec 2024 11:40 PM IST
Max Pain for GOLDM is 76000
Strike 71000 has a total call value of 0 versus a total put value of 265,556,000,000 Combined total value = 265,556,000,000
Strike 71100 has a total call value of 0 versus a total put value of 258,524,000,000 Combined total value = 258,524,000,000
Strike 71200 has a total call value of 0 versus a total put value of 251,492,000,000 Combined total value = 251,492,000,000
Strike 71300 has a total call value of 0 versus a total put value of 244,460,000,000 Combined total value = 244,460,000,000
Strike 71400 has a total call value of 0 versus a total put value of 237,428,000,000 Combined total value = 237,428,000,000
Strike 71500 has a total call value of 0 versus a total put value of 230,396,000,000 Combined total value = 230,396,000,000
Strike 71600 has a total call value of 0 versus a total put value of 223,364,000,000 Combined total value = 223,364,000,000
Strike 71700 has a total call value of 0 versus a total put value of 216,332,000,000 Combined total value = 216,332,000,000
Strike 71800 has a total call value of 0 versus a total put value of 209,300,000,000 Combined total value = 209,300,000,000
Strike 71900 has a total call value of 0 versus a total put value of 202,268,000,000 Combined total value = 202,268,000,000
Strike 72000 has a total call value of 0 versus a total put value of 195,236,000,000 Combined total value = 195,236,000,000
Strike 72100 has a total call value of 0 versus a total put value of 189,039,000,000 Combined total value = 189,039,000,000
Strike 72200 has a total call value of 0 versus a total put value of 182,842,000,000 Combined total value = 182,842,000,000
Strike 72300 has a total call value of 0 versus a total put value of 176,645,000,000 Combined total value = 176,645,000,000
Strike 72400 has a total call value of 0 versus a total put value of 170,448,000,000 Combined total value = 170,448,000,000
Strike 72500 has a total call value of 0 versus a total put value of 164,251,000,000 Combined total value = 164,251,000,000
Strike 72600 has a total call value of 0 versus a total put value of 158,054,000,000 Combined total value = 158,054,000,000
Strike 72700 has a total call value of 0 versus a total put value of 151,857,000,000 Combined total value = 151,857,000,000
Strike 72800 has a total call value of 0 versus a total put value of 145,660,000,000 Combined total value = 145,660,000,000
Strike 72900 has a total call value of 0 versus a total put value of 139,463,000,000 Combined total value = 139,463,000,000
Strike 73000 has a total call value of 0 versus a total put value of 133,266,000,000 Combined total value = 133,266,000,000
Strike 73100 has a total call value of 0 versus a total put value of 127,916,000,000 Combined total value = 127,916,000,000
Strike 73200 has a total call value of 0 versus a total put value of 122,566,000,000 Combined total value = 122,566,000,000
Strike 73300 has a total call value of 0 versus a total put value of 117,216,000,000 Combined total value = 117,216,000,000
Strike 73400 has a total call value of 0 versus a total put value of 111,866,000,000 Combined total value = 111,866,000,000
Strike 73500 has a total call value of 0 versus a total put value of 106,516,000,000 Combined total value = 106,516,000,000
Strike 73600 has a total call value of 0 versus a total put value of 101,166,000,000 Combined total value = 101,166,000,000
Strike 73700 has a total call value of 0 versus a total put value of 95,816,000,000 Combined total value = 95,816,000,000
Strike 73800 has a total call value of 0 versus a total put value of 90,466,000,000 Combined total value = 90,466,000,000
Strike 73900 has a total call value of 0 versus a total put value of 85,116,000,000 Combined total value = 85,116,000,000
Strike 74000 has a total call value of 0 versus a total put value of 79,766,000,000 Combined total value = 79,766,000,000
Strike 74100 has a total call value of 30,000,000 versus a total put value of 75,359,000,000 Combined total value = 75,389,000,000
Strike 74200 has a total call value of 60,000,000 versus a total put value of 70,952,000,000 Combined total value = 71,012,000,000
Strike 74300 has a total call value of 90,000,000 versus a total put value of 66,545,000,000 Combined total value = 66,635,000,000
Strike 74400 has a total call value of 120,000,000 versus a total put value of 62,138,000,000 Combined total value = 62,258,000,000
Strike 74500 has a total call value of 150,000,000 versus a total put value of 57,731,000,000 Combined total value = 57,881,000,000
Strike 74600 has a total call value of 185,000,000 versus a total put value of 53,388,000,000 Combined total value = 53,573,000,000
Strike 74700 has a total call value of 220,000,000 versus a total put value of 49,045,000,000 Combined total value = 49,265,000,000
Strike 74800 has a total call value of 255,000,000 versus a total put value of 44,702,000,000 Combined total value = 44,957,000,000
Strike 74900 has a total call value of 290,000,000 versus a total put value of 40,359,000,000 Combined total value = 40,649,000,000
Strike 75000 has a total call value of 325,000,000 versus a total put value of 36,016,000,000 Combined total value = 36,341,000,000
Strike 75100 has a total call value of 732,000,000 versus a total put value of 33,361,000,000 Combined total value = 34,093,000,000
Strike 75200 has a total call value of 1,139,000,000 versus a total put value of 30,706,000,000 Combined total value = 31,845,000,000
Strike 75300 has a total call value of 1,546,000,000 versus a total put value of 28,051,000,000 Combined total value = 29,597,000,000
Strike 75400 has a total call value of 1,953,000,000 versus a total put value of 25,396,000,000 Combined total value = 27,349,000,000
Strike 75500 has a total call value of 2,360,000,000 versus a total put value of 22,741,000,000 Combined total value = 25,101,000,000
Strike 75600 has a total call value of 2,852,000,000 versus a total put value of 20,366,000,000 Combined total value = 23,218,000,000
Strike 75700 has a total call value of 3,344,000,000 versus a total put value of 17,992,000,000 Combined total value = 21,336,000,000
Strike 75800 has a total call value of 3,836,000,000 versus a total put value of 15,618,000,000 Combined total value = 19,454,000,000
Strike 75900 has a total call value of 4,332,000,000 versus a total put value of 13,244,000,000 Combined total value = 17,576,000,000
Strike 76000 has a total call value of 4,830,000,000 versus a total put value of 10,870,000,000 Combined total value = 15,700,000,000
Strike 76100 has a total call value of 6,402,000,000 versus a total put value of 10,011,000,000 Combined total value = 16,413,000,000
Strike 76200 has a total call value of 7,974,000,000 versus a total put value of 9,152,000,000 Combined total value = 17,126,000,000
Strike 76300 has a total call value of 9,551,000,000 versus a total put value of 8,293,000,000 Combined total value = 17,844,000,000
Strike 76400 has a total call value of 11,128,000,000 versus a total put value of 7,434,000,000 Combined total value = 18,562,000,000
Strike 76500 has a total call value of 12,706,000,000 versus a total put value of 6,575,000,000 Combined total value = 19,281,000,000
Strike 76600 has a total call value of 14,737,000,000 versus a total put value of 5,792,000,000 Combined total value = 20,529,000,000
Strike 76700 has a total call value of 16,768,000,000 versus a total put value of 5,009,000,000 Combined total value = 21,777,000,000
Strike 76800 has a total call value of 18,799,000,000 versus a total put value of 4,226,000,000 Combined total value = 23,025,000,000
Strike 76900 has a total call value of 20,830,000,000 versus a total put value of 3,443,000,000 Combined total value = 24,273,000,000
Strike 77000 has a total call value of 22,861,000,000 versus a total put value of 2,660,000,000 Combined total value = 25,521,000,000
Strike 77100 has a total call value of 26,896,000,000 versus a total put value of 2,436,000,000 Combined total value = 29,332,000,000
Strike 77200 has a total call value of 30,932,000,000 versus a total put value of 2,212,000,000 Combined total value = 33,144,000,000
Strike 77300 has a total call value of 34,969,000,000 versus a total put value of 1,988,000,000 Combined total value = 36,957,000,000
Strike 77400 has a total call value of 39,006,000,000 versus a total put value of 1,764,000,000 Combined total value = 40,770,000,000
Strike 77500 has a total call value of 43,043,000,000 versus a total put value of 1,540,000,000 Combined total value = 44,583,000,000
Strike 77600 has a total call value of 47,173,000,000 versus a total put value of 1,316,000,000 Combined total value = 48,489,000,000
Strike 77700 has a total call value of 51,303,000,000 versus a total put value of 1,092,000,000 Combined total value = 52,395,000,000
Strike 77800 has a total call value of 55,433,000,000 versus a total put value of 868,000,000 Combined total value = 56,301,000,000
Strike 77900 has a total call value of 59,563,000,000 versus a total put value of 644,000,000 Combined total value = 60,207,000,000
Strike 78000 has a total call value of 63,693,000,000 versus a total put value of 420,000,000 Combined total value = 64,113,000,000
Strike 78100 has a total call value of 70,403,000,000 versus a total put value of 378,000,000 Combined total value = 70,781,000,000
Strike 78200 has a total call value of 77,113,000,000 versus a total put value of 336,000,000 Combined total value = 77,449,000,000
Strike 78300 has a total call value of 83,823,000,000 versus a total put value of 294,000,000 Combined total value = 84,117,000,000
Strike 78400 has a total call value of 90,533,000,000 versus a total put value of 252,000,000 Combined total value = 90,785,000,000
Strike 78500 has a total call value of 97,243,000,000 versus a total put value of 210,000,000 Combined total value = 97,453,000,000
Strike 78600 has a total call value of 103,953,000,000 versus a total put value of 168,000,000 Combined total value = 104,121,000,000
Strike 78700 has a total call value of 110,663,000,000 versus a total put value of 126,000,000 Combined total value = 110,789,000,000
Strike 78800 has a total call value of 117,373,000,000 versus a total put value of 84,000,000 Combined total value = 117,457,000,000
Strike 78900 has a total call value of 124,083,000,000 versus a total put value of 42,000,000 Combined total value = 124,125,000,000
Strike 79000 has a total call value of 130,793,000,000 versus a total put value of 0 Combined total value = 130,793,000,000
Strike 79100 has a total call value of 138,649,000,000 versus a total put value of 0 Combined total value = 138,649,000,000
Strike 79200 has a total call value of 146,505,000,000 versus a total put value of 0 Combined total value = 146,505,000,000
Strike 79300 has a total call value of 154,361,000,000 versus a total put value of 0 Combined total value = 154,361,000,000
Strike 79400 has a total call value of 162,217,000,000 versus a total put value of 0 Combined total value = 162,217,000,000
Strike 79500 has a total call value of 170,073,000,000 versus a total put value of 0 Combined total value = 170,073,000,000
Strike 79600 has a total call value of 177,929,000,000 versus a total put value of 0 Combined total value = 177,929,000,000
Strike 79700 has a total call value of 185,785,000,000 versus a total put value of 0 Combined total value = 185,785,000,000
Strike 79800 has a total call value of 193,641,000,000 versus a total put value of 0 Combined total value = 193,641,000,000
Strike 79900 has a total call value of 201,497,000,000 versus a total put value of 0 Combined total value = 201,497,000,000
Strike 80000 has a total call value of 209,353,000,000 versus a total put value of 0 Combined total value = 209,353,000,000
Strike 80100 has a total call value of 218,680,000,000 versus a total put value of 0 Combined total value = 218,680,000,000
Strike 80200 has a total call value of 228,008,000,000 versus a total put value of 0 Combined total value = 228,008,000,000
Strike 80300 has a total call value of 237,336,000,000 versus a total put value of 0 Combined total value = 237,336,000,000
Strike 80400 has a total call value of 246,664,000,000 versus a total put value of 0 Combined total value = 246,664,000,000
Strike 80500 has a total call value of 255,992,000,000 versus a total put value of 0 Combined total value = 255,992,000,000
Strike 80600 has a total call value of 265,320,000,000 versus a total put value of 0 Combined total value = 265,320,000,000
Strike 80700 has a total call value of 274,648,000,000 versus a total put value of 0 Combined total value = 274,648,000,000
Strike 80800 has a total call value of 283,976,000,000 versus a total put value of 0 Combined total value = 283,976,000,000
Strike 80900 has a total call value of 293,304,000,000 versus a total put value of 0 Combined total value = 293,304,000,000
Strike 81000 has a total call value of 302,632,000,000 versus a total put value of 0 Combined total value = 302,632,000,000
Strike 81100 has a total call value of 312,370,000,000 versus a total put value of 0 Combined total value = 312,370,000,000
Strike 81200 has a total call value of 322,108,000,000 versus a total put value of 0 Combined total value = 322,108,000,000
Strike 81300 has a total call value of 331,846,000,000 versus a total put value of 0 Combined total value = 331,846,000,000
Strike 81400 has a total call value of 341,584,000,000 versus a total put value of 0 Combined total value = 341,584,000,000
Strike 81500 has a total call value of 351,322,000,000 versus a total put value of 0 Combined total value = 351,322,000,000
Strike 81600 has a total call value of 361,060,000,000 versus a total put value of 0 Combined total value = 361,060,000,000
Strike 81700 has a total call value of 370,798,000,000 versus a total put value of 0 Combined total value = 370,798,000,000
Strike 81800 has a total call value of 380,536,000,000 versus a total put value of 0 Combined total value = 380,536,000,000
Strike 81900 has a total call value of 390,274,000,000 versus a total put value of 0 Combined total value = 390,274,000,000
Strike 82000 has a total call value of 400,012,000,000 versus a total put value of 0 Combined total value = 400,012,000,000
Max-Pain Table for Monthly Expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| AARTIIND | 445.1 | 460 |
| ABB | 7537.55 | 7500 |
| ABBOTINDIA | 28441.05 | 28000 |
| ABCAPITAL | 199.47 | 200 |
| ABFRL | 316.3 | 320 |
| ACC | 2291.7 | 2300 |
| ADANIENSOL | 801.85 | 800 |
| ADANIENT | 2514.2 | 2540 |
| ADANIGREEN | 1312.8 | 1300 |
| ADANIPORTS | 1288.65 | 1240 |
| ALKEM | 5637.35 | 5600 |
| AMBUJACEM | 566.55 | 550 |
| ANGELONE | 3077.05 | 3000 |
| APLAPOLLO | 1556.8 | 1500 |
| APOLLOHOSP | 7126.55 | 7000 |
| APOLLOTYRE | 521.45 | 510 |
| ASHOKLEY | 235.18 | 230 |
| ASIANPAINT | 2469.4 | 2500 |
| ASTRAL | 1845.7 | 1840 |
| ATGL | 766.25 | 780 |
| ATUL | 7396.45 | 7300 |
| AUBANK | 594.85 | 590 |
| AUROPHARMA | 1264.3 | 1260 |
| AXISBANK | 1160.5 | 1150 |
| BAJAJ-AUTO | 9161.8 | 9200 |
| BAJAJFINSV | 1607.1 | 1600 |
| BAJFINANCE | 6675.45 | 6800 |
| BALKRISIND | 2842.2 | 2800 |
| BANDHANBNK | 175.27 | 175 |
| BANKBARODA | 254.55 | 250 |
| BANKINDIA | 114.02 | 110 |
| BATAINDIA | 1425.9 | 1400 |
| BEL | 312.1 | 305 |
| BERGEPAINT | 482.15 | 490 |
| BHARATFORG | 1350.4 | 1340 |
| BHARTIARTL | 1620.55 | 1600 |
| BHEL | 252.35 | 250 |
| BIOCON | 373.85 | 365 |
| BOSCHLTD | 34923.7 | 35000 |
| BPCL | 294.25 | 295 |
| BRITANNIA | 4909.6 | 4950 |
| BSE | 4513.8 | 4600 |
| BSOFT | 601.45 | 600 |
| CAMS | 5120.2 | 5000 |
| CANBK | 105.12 | 104 |
| CANFINHOME | 834.6 | 830 |
| CDSL | 1663.9 | 1660 |
| CESC | 184.28 | 180 |
| CGPOWER | 761.3 | 750 |
| CHAMBLFERT | 525.1 | 510 |
| CHOLAFIN | 1253.65 | 1260 |
| CIPLA | 1533.9 | 1540 |
| COALINDIA | 422.1 | 420 |
| COFORGE | 8718.25 | 8600 |
| COLPAL | 2896.25 | 2900 |
| CONCOR | 839.85 | 840 |
| COROMANDEL | 1777.5 | 1780 |
| CROMPTON | 409.15 | 410 |
| CUB | 182.9 | 180 |
| CUMMINSIND | 3512.3 | 3500 |
| CYIENT | 1876.6 | 1600 |
| DABUR | 522.55 | 530 |
| DALBHARAT | 1930.8 | 1880 |
| DEEPAKNTR | 2627 | 2700 |
| DELHIVERY | 341.15 | 340 |
| DIVISLAB | 6210.55 | 6150 |
| DIXON | 16866.45 | 16000 |
| DLF | 846.95 | 830 |
| DMART | 3829.85 | 3750 |
| DRREDDY | 1224.5 | 1220 |
| EICHERMOT | 4844.35 | 4900 |
| ESCORTS | 3517.05 | 3600 |
| EXIDEIND | 455.55 | 450 |
| FEDERALBNK | 209.96 | 210 |
| GAIL | 199.99 | 200 |
| GLENMARK | 1559.4 | 1540 |
| GMRINFRA | 83.61 | 84 |
| GNFC | 637.15 | 640 |
| GODREJCP | 1230.45 | 1240 |
| GODREJPROP | 2862.55 | 2850 |
| GRANULES | 534.15 | 560 |
| GRASIM | 2714 | 2640 |
| GUJGASLTD | 497.8 | 480 |
| HAL | 4518.85 | 4500 |
| HAVELLS | 1757.2 | 1740 |
| HCLTECH | 1890.75 | 1880 |
| HDFCAMC | 4258.3 | 4250 |
| HDFCBANK | 1826.3 | 1800 |
| HDFCLIFE | 634 | 650 |
| HEROMOTOCO | 4697 | 4800 |
| HFCL | 130.18 | 130 |
| HINDALCO | 667.55 | 660 |
| HINDCOPPER | 284.7 | 280 |
| HINDPETRO | 384.55 | 385 |
| HINDUNILVR | 2482.85 | 2500 |
| HUDCO | 235.54 | 230 |
| ICICIBANK | 1308.4 | 1300 |
| ICICIGI | 1896.35 | 1900 |
| ICICIPRULI | 684.2 | 700 |
| IDEA | 8.21 | 8 |
| IDFCFIRSTB | 65.2 | 65 |
| IEX | 178.1 | 177.5 |
| IGL | 361.25 | 340 |
| INDHOTEL | 806.65 | 790 |
| INDIAMART | 2357.55 | 2350 |
| INDIANB | 579.9 | 580 |
| INDIGO | 4405.5 | 4400 |
| INDUSINDBK | 998.35 | 1000 |
| INDUSTOWER | 353.9 | 350 |
| INFY | 1892.1 | 1900 |
| IOC | 139.51 | 140 |
| IPCALAB | 1502.75 | 1540 |
| IRB | 55.04 | 53 |
| IRCTC | 831.85 | 830 |
| IRFC | 148.2 | 147.5 |
| ITC | 472.55 | 475 |
| JINDALSTEL | 925.8 | 910 |
| JIOFIN | 340.35 | 330 |
| JKCEMENT | 4647.4 | 4500 |
| JSL | 716.05 | 700 |
| JSWENERGY | 642.95 | 650 |
| JSWSTEEL | 998.8 | 980 |
| JUBLFOOD | 657.05 | 650 |
| KALYANKJIL | 726.85 | 720 |
| KEI | 4340.25 | 4300 |
| KOTAKBANK | 1749.9 | 1780 |
| KPITTECH | 1430.7 | 1400 |
| LALPATHLAB | 2972.9 | 3050 |
| LAURUSLABS | 580.7 | 560 |
| LICHSGFIN | 635.35 | 640 |
| LICI | 969.75 | 980 |
| LODHA | 1296.3 | 1300 |
| LT | 3787.05 | 3700 |
| LTF | 145.62 | 145 |
| LTIM | 6167 | 6200 |
| LTTS | 5316.55 | 5300 |
| LUPIN | 2081.65 | 2060 |
| M&M | 3027.3 | 3000 |
| M&MFIN | 285.3 | 280 |
| MANAPPURAM | 164.19 | 162.5 |
| MARICO | 641.7 | 640 |
| MARUTI | 11279.25 | 11200 |
| MAXHEALTH | 1034.35 | 1000 |
| MCX | 6216.5 | 6200 |
| METROPOLIS | 2076.35 | 2100 |
| MFSL | 1142.35 | 1140 |
| MGL | 1278.25 | 1240 |
| MOTHERSON | 166.2 | 167.5 |
| MPHASIS | 3018.95 | 3000 |
| MRF | 125585.05 | 125000 |
| MUTHOOTFIN | 1932.8 | 1920 |
| NATIONALUM | 246.87 | 242.5 |
| NAUKRI | 8472.5 | 8300 |
| NAVINFLUOR | 3586.85 | 3550 |
| NCC | 314.5 | 310 |
| NESTLEIND | 2261.7 | 2300 |
| NHPC | 81.98 | 81 |
| NMDC | 235.68 | 235 |
| NTPC | 367.45 | 365 |
| NYKAA | 171.88 | 170 |
| OBEROIRLTY | 2060.35 | 2000 |
| OFSS | 12524.85 | 12000 |
| OIL | 490.3 | 480 |
| ONGC | 262.35 | 259 |
| PAGEIND | 46143.25 | 45500 |
| PAYTM | 902.6 | 900 |
| PEL | 1236.5 | 1200 |
| PERSISTENT | 6041.3 | 6000 |
| PETRONET | 339.3 | 333 |
| PFC | 501.15 | 490 |
| PIDILITIND | 3149 | 3100 |
| PIIND | 4138.1 | 4100 |
| PNB | 107.97 | 106 |
| POLICYBZR | 1926.25 | 1800 |
| POLYCAB | 7412.5 | 7200 |
| POONAWALLA | 348.55 | 350 |
| POWERGRID | 329.65 | 330 |
| PRESTIGE | 1724.15 | 1700 |
| PVRINOX | 1598.3 | 1560 |
| RAMCOCEM | 1040.1 | 1000 |
| RBLBANK | 162.71 | 155 |
| RECLTD | 539.7 | 530 |
| RELIANCE | 1323.3 | 1310 |
| SAIL | 122.79 | 120 |
| SBICARD | 704.4 | 700 |
| SBILIFE | 1440.95 | 1440 |
| SBIN | 853.95 | 840 |
| SHREECEM | 27159.35 | 26750 |
| SHRIRAMFIN | 3155.55 | 3100 |
| SIEMENS | 7731 | 7500 |
| SJVN | 117.03 | 115 |
| SONACOMS | 672.7 | 680 |
| SRF | 2311.25 | 2300 |
| SUNPHARMA | 1800.05 | 1800 |
| SUNTV | 774.5 | 760 |
| SUPREMEIND | 4763 | 4600 |
| SYNGENE | 934.85 | 930 |
| TATACHEM | 1136.4 | 1120 |
| TATACOMM | 1807.9 | 1800 |
| TATACONSUM | 955 | 960 |
| TATAELXSI | 7098.55 | 7000 |
| TATAMOTORS | 801.25 | 800 |
| TATAPOWER | 428.55 | 425 |
| TATASTEEL | 146.54 | 150 |
| TCS | 4302.75 | 4300 |
| TECHM | 1749.5 | 1740 |
| TIINDIA | 3620.15 | 3600 |
| TITAN | 3332.75 | 3300 |
| TORNTPHARM | 3363.1 | 3300 |
| TRENT | 6841.35 | 6800 |
| TVSMOTOR | 2556.2 | 2500 |
| UBL | 1955.85 | 1940 |
| ULTRACEMCO | 11852.35 | 11500 |
| UNIONBANK | 126.06 | 124 |
| UNITDSPR | 1542.95 | 1500 |
| UPL | 563.1 | 556.35 |
| VBL | 621.1 | 610 |
| VEDL | 468.35 | 460 |
| VOLTAS | 1688.15 | 1700 |
| WIPRO | 291.65 | 290 |
| YESBANK | 20.84 | 20 |
| ZOMATO | 279.85 | 270 |
| ZYDUSLIFE | 982.1 | 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.
