HAL
Hindustan Aeronautics Ltd
Max pain for HAL
21 Nov 2024 02:03 PM IST
Max Pain for HAL is 4200
Strike 3400 has a total call value of 0 versus a total put value of 306,874,500,000 Combined total value = 306,874,500,000
Strike 3500 has a total call value of 0 versus a total put value of 266,949,000,000 Combined total value = 266,949,000,000
Strike 3600 has a total call value of 0 versus a total put value of 227,023,500,000 Combined total value = 227,023,500,000
Strike 3700 has a total call value of 105,000,000 versus a total put value of 190,057,500,000 Combined total value = 190,162,500,000
Strike 3800 has a total call value of 546,000,000 versus a total put value of 155,305,500,000 Combined total value = 155,851,500,000
Strike 3900 has a total call value of 1,428,000,000 versus a total put value of 123,397,500,000 Combined total value = 124,825,500,000
Strike 4000 has a total call value of 3,159,000,000 versus a total put value of 95,661,000,000 Combined total value = 98,820,000,000
Strike 4100 has a total call value of 8,758,500,000 versus a total put value of 73,017,000,000 Combined total value = 81,775,500,000
Strike 4200 has a total call value of 20,644,500,000 versus a total put value of 54,739,500,000 Combined total value = 75,384,000,000
Strike 4300 has a total call value of 41,583,000,000 versus a total put value of 40,464,000,000 Combined total value = 82,047,000,000
Strike 4400 has a total call value of 69,550,500,000 versus a total put value of 29,070,000,000 Combined total value = 98,620,500,000
Strike 4500 has a total call value of 105,432,000,000 versus a total put value of 20,545,500,000 Combined total value = 125,977,500,000
Strike 4600 has a total call value of 151,993,500,000 versus a total put value of 14,430,000,000 Combined total value = 166,423,500,000
Strike 4700 has a total call value of 205,194,000,000 versus a total put value of 9,693,000,000 Combined total value = 214,887,000,000
Strike 4800 has a total call value of 262,411,500,000 versus a total put value of 6,033,000,000 Combined total value = 268,444,500,000
Strike 4900 has a total call value of 322,462,500,000 versus a total put value of 3,426,000,000 Combined total value = 325,888,500,000
Strike 5000 has a total call value of 383,608,500,000 versus a total put value of 1,131,000,000 Combined total value = 384,739,500,000
Strike 5100 has a total call value of 450,793,500,000 versus a total put value of 483,000,000 Combined total value = 451,276,500,000
Strike 5200 has a total call value of 519,102,000,000 versus a total put value of 0 Combined total value = 519,102,000,000
Max-Pain Table for Monthly Expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| AARTIIND | 425 | 470 |
| ABB | 6767 | 7000 |
| ABBOTINDIA | 26968.05 | 28000 |
| ABCAPITAL | 183.99 | 200 |
| ABFRL | 286 | 300 |
| ACC | 2037.5 | 2240 |
| ADANIENT | 2296 | 2640 |
| ADANIPORTS | 1136.05 | 1200 |
| ALKEM | 5563.4 | 5500 |
| AMBUJACEM | 497.5 | 540 |
| APOLLOHOSP | 6723 | 6900 |
| APOLLOTYRE | 483.9 | 480 |
| ASHOKLEY | 217.42 | 220 |
| ASIANPAINT | 2430.05 | 2540 |
| ASTRAL | 1713.1 | 1780 |
| ATUL | 7250.65 | 7500 |
| AUBANK | 594.15 | 590 |
| AUROPHARMA | 1219.5 | 1300 |
| AXISBANK | 1140.9 | 1150 |
| BAJAJ-AUTO | 9487.35 | 9700 |
| BAJAJFINSV | 1573.8 | 1620 |
| BAJFINANCE | 6493.25 | 6700 |
| BALKRISIND | 2739.35 | 2800 |
| BANDHANBNK | 166.73 | 177.5 |
| BANKBARODA | 230 | 240 |
| BATAINDIA | 1280.95 | 1310 |
| BEL | 274.6 | 285 |
| BERGEPAINT | 466.7 | 495 |
| BHARATFORG | 1295.9 | 1340 |
| BHARTIARTL | 1520.05 | 1560 |
| BHEL | 228.03 | 235 |
| BIOCON | 324.55 | 330 |
| BOSCHLTD | 34078.05 | 34000 |
| BPCL | 282.1 | 300 |
| BRITANNIA | 4770.3 | 5000 |
| BSOFT | 545.05 | 560 |
| CANBK | 94.88 | 100 |
| CANFINHOME | 823.25 | 830 |
| CHAMBLFERT | 459.95 | 480 |
| CHOLAFIN | 1211.35 | 1240 |
| CIPLA | 1457.55 | 1520 |
| COALINDIA | 405.45 | 425 |
| COFORGE | 8203.1 | 8000 |
| COLPAL | 2685.4 | 2800 |
| CONCOR | 768.75 | 810 |
| COROMANDEL | 1775.85 | 1720 |
| CROMPTON | 381.65 | 390 |
| CUB | 170.5 | 175 |
| CUMMINSIND | 3291.55 | 3400 |
| DABUR | 505.5 | 525 |
| DALBHARAT | 1775.55 | 1760 |
| DEEPAKNTR | 2625.8 | 2650 |
| DIVISLAB | 5950 | 5900 |
| DIXON | 15038 | 14750 |
| DLF | 776.1 | 780 |
| DRREDDY | 1192.9 | 1220 |
| EICHERMOT | 4908.95 | 4900 |
| ESCORTS | 3462.85 | 3600 |
| EXIDEIND | 416 | 440 |
| FEDERALBNK | 210.74 | 205 |
| GAIL | 188.9 | 197.5 |
| GLENMARK | 1465 | 1520 |
| GMRINFRA | 76.97 | 82 |
| GNFC | 556.2 | 570 |
| GODREJCP | 1180 | 1200 |
| GODREJPROP | 2712.65 | 2750 |
| GRANULES | 545 | 580 |
| GRASIM | 2541 | 2540 |
| GUJGASLTD | 453.35 | 480 |
| HAL | 3993 | 4200 |
| HAVELLS | 1631 | 1640 |
| HCLTECH | 1830.6 | 1820 |
| HDFCAMC | 4210.6 | 4300 |
| HDFCBANK | 1742.5 | 1740 |
| HDFCLIFE | 673.55 | 680 |
| HEROMOTOCO | 4754.8 | 4800 |
| HINDALCO | 647.25 | 650 |
| HINDCOPPER | 263.5 | 290 |
| HINDPETRO | 360.1 | 375 |
| HINDUNILVR | 2380 | 2480 |
| ICICIBANK | 1251.65 | 1260 |
| ICICIGI | 1817.9 | 1880 |
| ICICIPRULI | 680.6 | 690 |
| IDEA | 6.98 | 8 |
| IDFCFIRSTB | 63.23 | 66 |
| IEX | 161.37 | 170 |
| IGL | 311.2 | 330 |
| INDHOTEL | 790.85 | 760 |
| INDIAMART | 2248 | 2400 |
| INDIGO | 4063.15 | 4000 |
| INDUSINDBK | 974.95 | 1040 |
| INDUSTOWER | 330.85 | 340 |
| INFY | 1825.7 | 1800 |
| IOC | 131.07 | 140 |
| IPCALAB | 1567.4 | 1560 |
| IRCTC | 796.75 | 820 |
| ITC | 456.45 | 475 |
| JINDALSTEL | 875 | 900 |
| JKCEMENT | 4005.2 | 4000 |
| JSWSTEEL | 943.3 | 960 |
| JUBLFOOD | 610.85 | 610 |
| KOTAKBANK | 1735.6 | 1760 |
| LALPATHLAB | 3021.3 | 3100 |
| LAURUSLABS | 487.6 | 490 |
| LICHSGFIN | 612.05 | 630 |
| LT | 3490.6 | 3600 |
| LTF | 138.01 | 140 |
| LTIM | 5913.05 | 5900 |
| LTTS | 5160.9 | 5150 |
| LUPIN | 2038.05 | 2100 |
| M&M | 2944.9 | 2900 |
| M&MFIN | 257.3 | 265 |
| MANAPPURAM | 150.9 | 155 |
| MARICO | 590.35 | 600 |
| MARUTI | 10913 | 11000 |
| MCX | 6184.7 | 6200 |
| METROPOLIS | 2010.95 | 2060 |
| MFSL | 1176.05 | 1200 |
| MGL | 1116.25 | 1160 |
| MOTHERSON | 161.8 | 175 |
| MPHASIS | 2770.55 | 2850 |
| MRF | 123030.35 | 122500 |
| MUTHOOTFIN | 1909 | 1880 |
| NATIONALUM | 249.35 | 240 |
| NAUKRI | 7517.65 | 7700 |
| NAVINFLUOR | 3267 | 3400 |
| NESTLEIND | 2204.1 | 2280 |
| NMDC | 218.75 | 225 |
| NTPC | 356.6 | 370 |
| OBEROIRLTY | 1931.7 | 1960 |
| OFSS | 11140 | 11500 |
| ONGC | 242.1 | 254 |
| PAGEIND | 44555.75 | 45500 |
| PEL | 1052.5 | 1060 |
| PERSISTENT | 5730.15 | 5600 |
| PETRONET | 320.85 | 328 |
| PFC | 452.05 | 460 |
| PIDILITIND | 2948.7 | 3060 |
| PIIND | 4128.85 | 4200 |
| PNB | 97.01 | 102 |
| POLYCAB | 6420.05 | 6500 |
| POWERGRID | 322.15 | 320 |
| PVRINOX | 1444.95 | 1500 |
| RAMCOCEM | 918 | 900 |
| RBLBANK | 158.56 | 160 |
| RECLTD | 489.6 | 510 |
| RELIANCE | 1219.2 | 1290 |
| SAIL | 111.46 | 115 |
| SBICARD | 673.55 | 690 |
| SBILIFE | 1483.95 | 1520 |
| SBIN | 782.9 | 800 |
| SHREECEM | 24272.1 | 24500 |
| SHRIRAMFIN | 2803.85 | 2900 |
| SIEMENS | 6678.3 | 6800 |
| SRF | 2155.65 | 2260 |
| SUNPHARMA | 1765.5 | 1800 |
| SUNTV | 727.8 | 730 |
| SYNGENE | 843.95 | 870 |
| TATACHEM | 1057.7 | 1100 |
| TATACOMM | 1712.95 | 1780 |
| TATACONSUM | 911.7 | 950 |
| TATAMOTORS | 778.25 | 800 |
| TATAPOWER | 410.05 | 420 |
| TATASTEEL | 140.6 | 145 |
| TCS | 4056.25 | 4100 |
| TECHM | 1696.75 | 1680 |
| TITAN | 3165.35 | 3200 |
| TORNTPHARM | 3091.7 | 3150 |
| TRENT | 6459.95 | 6600 |
| TVSMOTOR | 2399.15 | 2450 |
| UBL | 1820.4 | 1880 |
| ULTRACEMCO | 10935.45 | 11000 |
| UNITDSPR | 1490.45 | 1480 |
| UPL | 562.5 | 540 |
| VEDL | 442.65 | 460 |
| VOLTAS | 1673.95 | 1700 |
| WIPRO | 556.75 | 560 |
| ZYDUSLIFE | 940.8 | 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.
