GRANULES
Granules India Limited
Max pain for GRANULES
21 Nov 2024 02:03 PM IST
Max Pain for GRANULES is 580
Strike 460 has a total call value of 0 versus a total put value of 17,566,000,000 Combined total value = 17,566,000,000
Strike 470 has a total call value of 0 versus a total put value of 15,605,000,000 Combined total value = 15,605,000,000
Strike 480 has a total call value of 0 versus a total put value of 13,681,000,000 Combined total value = 13,681,000,000
Strike 490 has a total call value of 1,000,000 versus a total put value of 11,863,000,000 Combined total value = 11,864,000,000
Strike 500 has a total call value of 2,000,000 versus a total put value of 10,072,000,000 Combined total value = 10,074,000,000
Strike 510 has a total call value of 3,000,000 versus a total put value of 8,612,000,000 Combined total value = 8,615,000,000
Strike 520 has a total call value of 11,000,000 versus a total put value of 7,152,000,000 Combined total value = 7,163,000,000
Strike 530 has a total call value of 47,000,000 versus a total put value of 5,692,000,000 Combined total value = 5,739,000,000
Strike 540 has a total call value of 115,000,000 versus a total put value of 4,457,000,000 Combined total value = 4,572,000,000
Strike 550 has a total call value of 183,000,000 versus a total put value of 3,222,000,000 Combined total value = 3,405,000,000
Strike 560 has a total call value of 251,000,000 versus a total put value of 2,318,000,000 Combined total value = 2,569,000,000
Strike 570 has a total call value of 319,000,000 versus a total put value of 1,414,000,000 Combined total value = 1,733,000,000
Strike 580 has a total call value of 808,000,000 versus a total put value of 902,000,000 Combined total value = 1,710,000,000
Strike 590 has a total call value of 1,820,000,000 versus a total put value of 653,000,000 Combined total value = 2,473,000,000
Strike 600 has a total call value of 3,274,000,000 versus a total put value of 404,000,000 Combined total value = 3,678,000,000
Strike 610 has a total call value of 5,947,000,000 versus a total put value of 298,000,000 Combined total value = 6,245,000,000
Strike 620 has a total call value of 8,923,000,000 versus a total put value of 221,000,000 Combined total value = 9,144,000,000
Strike 630 has a total call value of 11,899,000,000 versus a total put value of 154,000,000 Combined total value = 12,053,000,000
Strike 640 has a total call value of 14,875,000,000 versus a total put value of 103,000,000 Combined total value = 14,978,000,000
Strike 650 has a total call value of 18,005,000,000 versus a total put value of 65,000,000 Combined total value = 18,070,000,000
Strike 660 has a total call value of 21,135,000,000 versus a total put value of 42,000,000 Combined total value = 21,177,000,000
Strike 670 has a total call value of 24,265,000,000 versus a total put value of 21,000,000 Combined total value = 24,286,000,000
Strike 680 has a total call value of 27,395,000,000 versus a total put value of 0 Combined total value = 27,395,000,000
Max-Pain Table for Monthly Expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| AARTIIND | 425.1 | 470 |
| ABB | 6768 | 7000 |
| ABBOTINDIA | 26990 | 28000 |
| ABCAPITAL | 184.1 | 200 |
| ABFRL | 286.95 | 300 |
| ACC | 2038.2 | 2240 |
| ADANIENT | 2300.45 | 2640 |
| ADANIPORTS | 1137.55 | 1200 |
| ALKEM | 5558.75 | 5500 |
| AMBUJACEM | 496.35 | 540 |
| APOLLOHOSP | 6723.95 | 6900 |
| APOLLOTYRE | 484 | 480 |
| ASHOKLEY | 217.64 | 220 |
| ASIANPAINT | 2429.35 | 2540 |
| ASTRAL | 1712 | 1780 |
| ATUL | 7245.3 | 7500 |
| AUBANK | 594.15 | 590 |
| AUROPHARMA | 1219.25 | 1300 |
| AXISBANK | 1139.55 | 1150 |
| BAJAJ-AUTO | 9493.7 | 9700 |
| BAJAJFINSV | 1574.7 | 1620 |
| BAJFINANCE | 6490.9 | 6700 |
| BALKRISIND | 2739.5 | 2800 |
| BANDHANBNK | 166.63 | 177.5 |
| BANKBARODA | 229.85 | 240 |
| BATAINDIA | 1280.9 | 1310 |
| BEL | 275.1 | 285 |
| BERGEPAINT | 466.35 | 495 |
| BHARATFORG | 1296 | 1340 |
| BHARTIARTL | 1520.45 | 1560 |
| BHEL | 228.4 | 235 |
| BIOCON | 324.45 | 330 |
| BOSCHLTD | 34099.95 | 34000 |
| BPCL | 282.35 | 300 |
| BRITANNIA | 4770.05 | 5000 |
| BSOFT | 545.1 | 560 |
| CANBK | 94.88 | 100 |
| CANFINHOME | 822.3 | 830 |
| CHAMBLFERT | 459.65 | 480 |
| CHOLAFIN | 1211.7 | 1240 |
| CIPLA | 1457.5 | 1520 |
| COALINDIA | 405.7 | 425 |
| COFORGE | 8206.3 | 8000 |
| COLPAL | 2684.85 | 2800 |
| CONCOR | 769.5 | 810 |
| COROMANDEL | 1775 | 1720 |
| CROMPTON | 381.9 | 390 |
| CUB | 170.69 | 175 |
| CUMMINSIND | 3292.75 | 3400 |
| DABUR | 506 | 525 |
| DALBHARAT | 1775.15 | 1760 |
| DEEPAKNTR | 2624.5 | 2650 |
| DIVISLAB | 5950.05 | 5900 |
| DIXON | 15044 | 14750 |
| DLF | 776.45 | 780 |
| DRREDDY | 1192.45 | 1220 |
| EICHERMOT | 4909.7 | 4900 |
| ESCORTS | 3461.75 | 3600 |
| EXIDEIND | 416 | 440 |
| FEDERALBNK | 210.61 | 205 |
| GAIL | 189.35 | 197.5 |
| GLENMARK | 1464.25 | 1520 |
| GMRINFRA | 77.06 | 82 |
| GNFC | 556.5 | 570 |
| GODREJCP | 1180.85 | 1200 |
| GODREJPROP | 2715.65 | 2750 |
| GRANULES | 544.95 | 580 |
| GRASIM | 2538.5 | 2540 |
| GUJGASLTD | 453.6 | 480 |
| HAL | 3996.35 | 4200 |
| HAVELLS | 1630 | 1640 |
| HCLTECH | 1830.45 | 1820 |
| HDFCAMC | 4204.55 | 4300 |
| HDFCBANK | 1742.75 | 1740 |
| HDFCLIFE | 673.85 | 680 |
| HEROMOTOCO | 4756.75 | 4800 |
| HINDALCO | 647.5 | 650 |
| HINDCOPPER | 263.65 | 290 |
| HINDPETRO | 360.4 | 375 |
| HINDUNILVR | 2379.5 | 2480 |
| ICICIBANK | 1250.1 | 1260 |
| ICICIGI | 1817.65 | 1880 |
| ICICIPRULI | 680.9 | 690 |
| IDEA | 6.98 | 8 |
| IDFCFIRSTB | 63.18 | 66 |
| IEX | 161.43 | 170 |
| IGL | 311.65 | 330 |
| INDHOTEL | 790.7 | 760 |
| INDIAMART | 2246.05 | 2400 |
| INDIGO | 4063.1 | 4000 |
| INDUSINDBK | 974.35 | 1040 |
| INDUSTOWER | 330.8 | 340 |
| INFY | 1826.15 | 1800 |
| IOC | 131.12 | 140 |
| IPCALAB | 1566.95 | 1560 |
| IRCTC | 796.65 | 820 |
| ITC | 456.7 | 475 |
| JINDALSTEL | 875.15 | 900 |
| JKCEMENT | 4006.85 | 4000 |
| JSWSTEEL | 944.05 | 960 |
| JUBLFOOD | 611.35 | 610 |
| KOTAKBANK | 1734.45 | 1760 |
| LALPATHLAB | 3018.65 | 3100 |
| LAURUSLABS | 487.55 | 490 |
| LICHSGFIN | 612.05 | 630 |
| LT | 3493.55 | 3600 |
| LTF | 137.94 | 140 |
| LTIM | 5913.55 | 5900 |
| LTTS | 5163.9 | 5150 |
| LUPIN | 2036.7 | 2100 |
| M&M | 2944.7 | 2900 |
| M&MFIN | 257.25 | 265 |
| MANAPPURAM | 151 | 155 |
| MARICO | 589.75 | 600 |
| MARUTI | 10914.55 | 11000 |
| MCX | 6185.8 | 6200 |
| METROPOLIS | 2011 | 2060 |
| MFSL | 1176.2 | 1200 |
| MGL | 1118 | 1160 |
| MOTHERSON | 161.72 | 175 |
| MPHASIS | 2770.85 | 2850 |
| MRF | 123122.55 | 122500 |
| MUTHOOTFIN | 1909 | 1880 |
| NATIONALUM | 249.6 | 240 |
| NAUKRI | 7521.15 | 7700 |
| NAVINFLUOR | 3265.15 | 3400 |
| NESTLEIND | 2205.05 | 2280 |
| NMDC | 218.79 | 225 |
| NTPC | 357.05 | 370 |
| OBEROIRLTY | 1930.4 | 1960 |
| OFSS | 11135.8 | 11500 |
| ONGC | 242.05 | 254 |
| PAGEIND | 44541.55 | 45500 |
| PEL | 1052.9 | 1060 |
| PERSISTENT | 5730.15 | 5600 |
| PETRONET | 320.85 | 328 |
| PFC | 452.8 | 460 |
| PIDILITIND | 2948.9 | 3060 |
| PIIND | 4126.15 | 4200 |
| PNB | 96.79 | 102 |
| POLYCAB | 6421.95 | 6500 |
| POWERGRID | 322.4 | 320 |
| PVRINOX | 1445.3 | 1500 |
| RAMCOCEM | 917.7 | 900 |
| RBLBANK | 158.55 | 160 |
| RECLTD | 490.15 | 510 |
| RELIANCE | 1219.4 | 1290 |
| SAIL | 111.55 | 115 |
| SBICARD | 673.6 | 690 |
| SBILIFE | 1485.1 | 1520 |
| SBIN | 782.1 | 800 |
| SHREECEM | 24288.45 | 24500 |
| SHRIRAMFIN | 2807 | 2900 |
| SIEMENS | 6680 | 6800 |
| SRF | 2157.5 | 2260 |
| SUNPHARMA | 1765 | 1800 |
| SUNTV | 728.1 | 730 |
| SYNGENE | 844.15 | 870 |
| TATACHEM | 1057.35 | 1100 |
| TATACOMM | 1711.3 | 1780 |
| TATACONSUM | 912.15 | 950 |
| TATAMOTORS | 778.8 | 800 |
| TATAPOWER | 410.45 | 420 |
| TATASTEEL | 140.65 | 145 |
| TCS | 4057.9 | 4100 |
| TECHM | 1697.2 | 1680 |
| TITAN | 3168 | 3200 |
| TORNTPHARM | 3093.95 | 3150 |
| TRENT | 6457.4 | 6600 |
| TVSMOTOR | 2399.6 | 2450 |
| UBL | 1822 | 1880 |
| ULTRACEMCO | 10934.5 | 11000 |
| UNITDSPR | 1490.9 | 1480 |
| UPL | 562.25 | 540 |
| VEDL | 443.05 | 460 |
| VOLTAS | 1673.5 | 1700 |
| WIPRO | 556.9 | 560 |
| ZYDUSLIFE | 940.5 | 960 |
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.
