GOLDM
Gold Mini
Max pain for GOLDM
20 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 484,743,000,000 Combined total value = 484,743,000,000
Strike 71100 has a total call value of 0 versus a total put value of 472,152,000,000 Combined total value = 472,152,000,000
Strike 71200 has a total call value of 0 versus a total put value of 459,561,000,000 Combined total value = 459,561,000,000
Strike 71300 has a total call value of 0 versus a total put value of 446,970,000,000 Combined total value = 446,970,000,000
Strike 71400 has a total call value of 0 versus a total put value of 434,379,000,000 Combined total value = 434,379,000,000
Strike 71500 has a total call value of 0 versus a total put value of 421,788,000,000 Combined total value = 421,788,000,000
Strike 71600 has a total call value of 0 versus a total put value of 409,197,000,000 Combined total value = 409,197,000,000
Strike 71700 has a total call value of 0 versus a total put value of 396,606,000,000 Combined total value = 396,606,000,000
Strike 71800 has a total call value of 0 versus a total put value of 384,015,000,000 Combined total value = 384,015,000,000
Strike 71900 has a total call value of 0 versus a total put value of 371,424,000,000 Combined total value = 371,424,000,000
Strike 72000 has a total call value of 0 versus a total put value of 358,833,000,000 Combined total value = 358,833,000,000
Strike 72100 has a total call value of 0 versus a total put value of 347,432,000,000 Combined total value = 347,432,000,000
Strike 72200 has a total call value of 0 versus a total put value of 336,031,000,000 Combined total value = 336,031,000,000
Strike 72300 has a total call value of 0 versus a total put value of 324,630,000,000 Combined total value = 324,630,000,000
Strike 72400 has a total call value of 0 versus a total put value of 313,229,000,000 Combined total value = 313,229,000,000
Strike 72500 has a total call value of 0 versus a total put value of 301,828,000,000 Combined total value = 301,828,000,000
Strike 72600 has a total call value of 0 versus a total put value of 290,427,000,000 Combined total value = 290,427,000,000
Strike 72700 has a total call value of 0 versus a total put value of 279,026,000,000 Combined total value = 279,026,000,000
Strike 72800 has a total call value of 0 versus a total put value of 267,625,000,000 Combined total value = 267,625,000,000
Strike 72900 has a total call value of 0 versus a total put value of 256,224,000,000 Combined total value = 256,224,000,000
Strike 73000 has a total call value of 0 versus a total put value of 244,823,000,000 Combined total value = 244,823,000,000
Strike 73100 has a total call value of 0 versus a total put value of 234,901,000,000 Combined total value = 234,901,000,000
Strike 73200 has a total call value of 0 versus a total put value of 224,979,000,000 Combined total value = 224,979,000,000
Strike 73300 has a total call value of 0 versus a total put value of 215,057,000,000 Combined total value = 215,057,000,000
Strike 73400 has a total call value of 0 versus a total put value of 205,135,000,000 Combined total value = 205,135,000,000
Strike 73500 has a total call value of 0 versus a total put value of 195,213,000,000 Combined total value = 195,213,000,000
Strike 73600 has a total call value of 0 versus a total put value of 185,291,000,000 Combined total value = 185,291,000,000
Strike 73700 has a total call value of 0 versus a total put value of 175,369,000,000 Combined total value = 175,369,000,000
Strike 73800 has a total call value of 0 versus a total put value of 165,447,000,000 Combined total value = 165,447,000,000
Strike 73900 has a total call value of 0 versus a total put value of 155,525,000,000 Combined total value = 155,525,000,000
Strike 74000 has a total call value of 0 versus a total put value of 145,603,000,000 Combined total value = 145,603,000,000
Strike 74100 has a total call value of 43,000,000 versus a total put value of 137,418,000,000 Combined total value = 137,461,000,000
Strike 74200 has a total call value of 86,000,000 versus a total put value of 129,233,000,000 Combined total value = 129,319,000,000
Strike 74300 has a total call value of 129,000,000 versus a total put value of 121,048,000,000 Combined total value = 121,177,000,000
Strike 74400 has a total call value of 172,000,000 versus a total put value of 112,863,000,000 Combined total value = 113,035,000,000
Strike 74500 has a total call value of 215,000,000 versus a total put value of 104,678,000,000 Combined total value = 104,893,000,000
Strike 74600 has a total call value of 273,000,000 versus a total put value of 97,179,000,000 Combined total value = 97,452,000,000
Strike 74700 has a total call value of 331,000,000 versus a total put value of 89,680,000,000 Combined total value = 90,011,000,000
Strike 74800 has a total call value of 389,000,000 versus a total put value of 82,181,000,000 Combined total value = 82,570,000,000
Strike 74900 has a total call value of 447,000,000 versus a total put value of 74,682,000,000 Combined total value = 75,129,000,000
Strike 75000 has a total call value of 505,000,000 versus a total put value of 67,183,000,000 Combined total value = 67,688,000,000
Strike 75100 has a total call value of 1,259,000,000 versus a total put value of 62,471,000,000 Combined total value = 63,730,000,000
Strike 75200 has a total call value of 2,021,000,000 versus a total put value of 57,759,000,000 Combined total value = 59,780,000,000
Strike 75300 has a total call value of 2,785,000,000 versus a total put value of 53,047,000,000 Combined total value = 55,832,000,000
Strike 75400 has a total call value of 3,553,000,000 versus a total put value of 48,335,000,000 Combined total value = 51,888,000,000
Strike 75500 has a total call value of 4,339,000,000 versus a total put value of 43,625,000,000 Combined total value = 47,964,000,000
Strike 75600 has a total call value of 5,956,000,000 versus a total put value of 40,172,000,000 Combined total value = 46,128,000,000
Strike 75700 has a total call value of 7,574,000,000 versus a total put value of 36,719,000,000 Combined total value = 44,293,000,000
Strike 75800 has a total call value of 9,216,000,000 versus a total put value of 33,266,000,000 Combined total value = 42,482,000,000
Strike 75900 has a total call value of 10,865,000,000 versus a total put value of 29,813,000,000 Combined total value = 40,678,000,000
Strike 76000 has a total call value of 12,525,000,000 versus a total put value of 26,360,000,000 Combined total value = 38,885,000,000
Strike 76100 has a total call value of 16,783,000,000 versus a total put value of 24,499,000,000 Combined total value = 41,282,000,000
Strike 76200 has a total call value of 21,044,000,000 versus a total put value of 22,638,000,000 Combined total value = 43,682,000,000
Strike 76300 has a total call value of 25,312,000,000 versus a total put value of 20,777,000,000 Combined total value = 46,089,000,000
Strike 76400 has a total call value of 29,591,000,000 versus a total put value of 18,916,000,000 Combined total value = 48,507,000,000
Strike 76500 has a total call value of 33,879,000,000 versus a total put value of 17,055,000,000 Combined total value = 50,934,000,000
Strike 76600 has a total call value of 40,540,000,000 versus a total put value of 15,464,000,000 Combined total value = 56,004,000,000
Strike 76700 has a total call value of 47,215,000,000 versus a total put value of 13,873,000,000 Combined total value = 61,088,000,000
Strike 76800 has a total call value of 53,890,000,000 versus a total put value of 12,282,000,000 Combined total value = 66,172,000,000
Strike 76900 has a total call value of 60,571,000,000 versus a total put value of 10,691,000,000 Combined total value = 71,262,000,000
Strike 77000 has a total call value of 67,252,000,000 versus a total put value of 9,100,000,000 Combined total value = 76,352,000,000
Strike 77100 has a total call value of 81,382,000,000 versus a total put value of 8,237,000,000 Combined total value = 89,619,000,000
Strike 77200 has a total call value of 95,512,000,000 versus a total put value of 7,374,000,000 Combined total value = 102,886,000,000
Strike 77300 has a total call value of 109,642,000,000 versus a total put value of 6,511,000,000 Combined total value = 116,153,000,000
Strike 77400 has a total call value of 123,772,000,000 versus a total put value of 5,648,000,000 Combined total value = 129,420,000,000
Strike 77500 has a total call value of 137,902,000,000 versus a total put value of 4,785,000,000 Combined total value = 142,687,000,000
Strike 77600 has a total call value of 154,821,000,000 versus a total put value of 4,117,000,000 Combined total value = 158,938,000,000
Strike 77700 has a total call value of 171,740,000,000 versus a total put value of 3,449,000,000 Combined total value = 175,189,000,000
Strike 77800 has a total call value of 188,659,000,000 versus a total put value of 2,781,000,000 Combined total value = 191,440,000,000
Strike 77900 has a total call value of 205,578,000,000 versus a total put value of 2,113,000,000 Combined total value = 207,691,000,000
Strike 78000 has a total call value of 222,497,000,000 versus a total put value of 1,445,000,000 Combined total value = 223,942,000,000
Strike 78100 has a total call value of 245,349,000,000 versus a total put value of 1,321,000,000 Combined total value = 246,670,000,000
Strike 78200 has a total call value of 268,201,000,000 versus a total put value of 1,197,000,000 Combined total value = 269,398,000,000
Strike 78300 has a total call value of 291,053,000,000 versus a total put value of 1,073,000,000 Combined total value = 292,126,000,000
Strike 78400 has a total call value of 313,905,000,000 versus a total put value of 949,000,000 Combined total value = 314,854,000,000
Strike 78500 has a total call value of 336,757,000,000 versus a total put value of 825,000,000 Combined total value = 337,582,000,000
Strike 78600 has a total call value of 360,744,000,000 versus a total put value of 710,000,000 Combined total value = 361,454,000,000
Strike 78700 has a total call value of 384,731,000,000 versus a total put value of 595,000,000 Combined total value = 385,326,000,000
Strike 78800 has a total call value of 408,718,000,000 versus a total put value of 480,000,000 Combined total value = 409,198,000,000
Strike 78900 has a total call value of 432,705,000,000 versus a total put value of 365,000,000 Combined total value = 433,070,000,000
Strike 79000 has a total call value of 456,692,000,000 versus a total put value of 250,000,000 Combined total value = 456,942,000,000
Strike 79100 has a total call value of 483,109,000,000 versus a total put value of 225,000,000 Combined total value = 483,334,000,000
Strike 79200 has a total call value of 509,526,000,000 versus a total put value of 200,000,000 Combined total value = 509,726,000,000
Strike 79300 has a total call value of 535,943,000,000 versus a total put value of 175,000,000 Combined total value = 536,118,000,000
Strike 79400 has a total call value of 562,360,000,000 versus a total put value of 150,000,000 Combined total value = 562,510,000,000
Strike 79500 has a total call value of 588,777,000,000 versus a total put value of 125,000,000 Combined total value = 588,902,000,000
Strike 79600 has a total call value of 615,427,000,000 versus a total put value of 100,000,000 Combined total value = 615,527,000,000
Strike 79700 has a total call value of 642,077,000,000 versus a total put value of 75,000,000 Combined total value = 642,152,000,000
Strike 79800 has a total call value of 668,727,000,000 versus a total put value of 50,000,000 Combined total value = 668,777,000,000
Strike 79900 has a total call value of 695,377,000,000 versus a total put value of 25,000,000 Combined total value = 695,402,000,000
Strike 80000 has a total call value of 722,027,000,000 versus a total put value of 0 Combined total value = 722,027,000,000
Strike 80100 has a total call value of 751,443,000,000 versus a total put value of 0 Combined total value = 751,443,000,000
Strike 80200 has a total call value of 780,859,000,000 versus a total put value of 0 Combined total value = 780,859,000,000
Strike 80300 has a total call value of 810,275,000,000 versus a total put value of 0 Combined total value = 810,275,000,000
Strike 80400 has a total call value of 839,691,000,000 versus a total put value of 0 Combined total value = 839,691,000,000
Strike 80500 has a total call value of 869,107,000,000 versus a total put value of 0 Combined total value = 869,107,000,000
Strike 80600 has a total call value of 898,523,000,000 versus a total put value of 0 Combined total value = 898,523,000,000
Strike 80700 has a total call value of 927,939,000,000 versus a total put value of 0 Combined total value = 927,939,000,000
Strike 80800 has a total call value of 957,355,000,000 versus a total put value of 0 Combined total value = 957,355,000,000
Strike 80900 has a total call value of 986,771,000,000 versus a total put value of 0 Combined total value = 986,771,000,000
Strike 81000 has a total call value of 1,016,187,000,000 versus a total put value of 0 Combined total value = 1,016,187,000,000
Strike 81100 has a total call value of 1,046,523,000,000 versus a total put value of 0 Combined total value = 1,046,523,000,000
Strike 81200 has a total call value of 1,076,859,000,000 versus a total put value of 0 Combined total value = 1,076,859,000,000
Strike 81300 has a total call value of 1,107,195,000,000 versus a total put value of 0 Combined total value = 1,107,195,000,000
Strike 81400 has a total call value of 1,137,531,000,000 versus a total put value of 0 Combined total value = 1,137,531,000,000
Strike 81500 has a total call value of 1,167,867,000,000 versus a total put value of 0 Combined total value = 1,167,867,000,000
Strike 81600 has a total call value of 1,198,203,000,000 versus a total put value of 0 Combined total value = 1,198,203,000,000
Strike 81700 has a total call value of 1,228,539,000,000 versus a total put value of 0 Combined total value = 1,228,539,000,000
Strike 81800 has a total call value of 1,258,875,000,000 versus a total put value of 0 Combined total value = 1,258,875,000,000
Strike 81900 has a total call value of 1,289,211,000,000 versus a total put value of 0 Combined total value = 1,289,211,000,000
Strike 82000 has a total call value of 1,319,547,000,000 versus a total put value of 0 Combined total value = 1,319,547,000,000
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.
