HAL
HINDUSTAN AERONAUTICS LTD
Max pain for HAL
04 Jul 2024 11:43 AM IST
Max Pain for HAL is 5350
Strike 3500 has a total call value of 0 versus a total put value of 668,334,000,000 Combined total value = 668,334,000,000
Strike 3550 has a total call value of 0 versus a total put value of 646,936,500,000 Combined total value = 646,936,500,000
Strike 3600 has a total call value of 0 versus a total put value of 625,539,000,000 Combined total value = 625,539,000,000
Strike 3650 has a total call value of 0 versus a total put value of 604,141,500,000 Combined total value = 604,141,500,000
Strike 3700 has a total call value of 0 versus a total put value of 582,744,000,000 Combined total value = 582,744,000,000
Strike 3750 has a total call value of 0 versus a total put value of 561,346,500,000 Combined total value = 561,346,500,000
Strike 3800 has a total call value of 0 versus a total put value of 539,949,000,000 Combined total value = 539,949,000,000
Strike 3850 has a total call value of 0 versus a total put value of 518,551,500,000 Combined total value = 518,551,500,000
Strike 3900 has a total call value of 0 versus a total put value of 497,154,000,000 Combined total value = 497,154,000,000
Strike 3950 has a total call value of 0 versus a total put value of 475,756,500,000 Combined total value = 475,756,500,000
Strike 4000 has a total call value of 0 versus a total put value of 454,359,000,000 Combined total value = 454,359,000,000
Strike 4050 has a total call value of 9,000,000 versus a total put value of 433,584,000,000 Combined total value = 433,593,000,000
Strike 4100 has a total call value of 18,000,000 versus a total put value of 412,809,000,000 Combined total value = 412,827,000,000
Strike 4150 has a total call value of 27,000,000 versus a total put value of 392,097,000,000 Combined total value = 392,124,000,000
Strike 4200 has a total call value of 36,000,000 versus a total put value of 371,385,000,000 Combined total value = 371,421,000,000
Strike 4250 has a total call value of 45,000,000 versus a total put value of 350,776,500,000 Combined total value = 350,821,500,000
Strike 4300 has a total call value of 54,000,000 versus a total put value of 330,168,000,000 Combined total value = 330,222,000,000
Strike 4350 has a total call value of 63,000,000 versus a total put value of 309,793,500,000 Combined total value = 309,856,500,000
Strike 4400 has a total call value of 72,000,000 versus a total put value of 289,419,000,000 Combined total value = 289,491,000,000
Strike 4450 has a total call value of 81,000,000 versus a total put value of 269,352,000,000 Combined total value = 269,433,000,000
Strike 4500 has a total call value of 90,000,000 versus a total put value of 249,285,000,000 Combined total value = 249,375,000,000
Strike 4550 has a total call value of 912,000,000 versus a total put value of 230,748,000,000 Combined total value = 231,660,000,000
Strike 4600 has a total call value of 1,734,000,000 versus a total put value of 212,223,000,000 Combined total value = 213,957,000,000
Strike 4650 has a total call value of 2,556,000,000 versus a total put value of 194,566,500,000 Combined total value = 197,122,500,000
Strike 4700 has a total call value of 3,378,000,000 versus a total put value of 176,938,500,000 Combined total value = 180,316,500,000
Strike 4750 has a total call value of 4,222,500,000 versus a total put value of 160,335,000,000 Combined total value = 164,557,500,000
Strike 4800 has a total call value of 5,067,000,000 versus a total put value of 143,731,500,000 Combined total value = 148,798,500,000
Strike 4850 has a total call value of 6,001,500,000 versus a total put value of 128,350,500,000 Combined total value = 134,352,000,000
Strike 4900 has a total call value of 6,936,000,000 versus a total put value of 113,085,000,000 Combined total value = 120,021,000,000
Strike 4950 has a total call value of 7,870,500,000 versus a total put value of 98,595,000,000 Combined total value = 106,465,500,000
Strike 5000 has a total call value of 8,805,000,000 versus a total put value of 84,144,000,000 Combined total value = 92,949,000,000
Strike 5050 has a total call value of 11,028,000,000 versus a total put value of 72,777,000,000 Combined total value = 83,805,000,000
Strike 5100 has a total call value of 13,251,000,000 versus a total put value of 61,591,500,000 Combined total value = 74,842,500,000
Strike 5150 has a total call value of 15,633,000,000 versus a total put value of 51,324,000,000 Combined total value = 66,957,000,000
Strike 5200 has a total call value of 18,015,000,000 versus a total put value of 41,223,000,000 Combined total value = 59,238,000,000
Strike 5250 has a total call value of 20,868,000,000 versus a total put value of 32,728,500,000 Combined total value = 53,596,500,000
Strike 5300 has a total call value of 23,908,500,000 versus a total put value of 24,478,500,000 Combined total value = 48,387,000,000
Strike 5350 has a total call value of 29,226,000,000 versus a total put value of 18,466,500,000 Combined total value = 47,692,500,000
Strike 5400 has a total call value of 35,187,000,000 versus a total put value of 12,880,500,000 Combined total value = 48,067,500,000
Strike 5450 has a total call value of 44,431,500,000 versus a total put value of 9,291,000,000 Combined total value = 53,722,500,000
Strike 5500 has a total call value of 54,469,500,000 versus a total put value of 6,085,500,000 Combined total value = 60,555,000,000
Strike 5550 has a total call value of 70,740,000,000 versus a total put value of 4,593,000,000 Combined total value = 75,333,000,000
Strike 5600 has a total call value of 87,649,500,000 versus a total put value of 3,100,500,000 Combined total value = 90,750,000,000
Strike 5650 has a total call value of 107,685,000,000 versus a total put value of 2,490,000,000 Combined total value = 110,175,000,000
Strike 5700 has a total call value of 128,125,500,000 versus a total put value of 1,947,000,000 Combined total value = 130,072,500,000
Strike 5750 has a total call value of 150,580,500,000 versus a total put value of 1,587,000,000 Combined total value = 152,167,500,000
Strike 5800 has a total call value of 173,248,500,000 versus a total put value of 1,227,000,000 Combined total value = 174,475,500,000
Strike 5850 has a total call value of 197,656,500,000 versus a total put value of 960,000,000 Combined total value = 198,616,500,000
Strike 5900 has a total call value of 222,250,500,000 versus a total put value of 693,000,000 Combined total value = 222,943,500,000
Strike 5950 has a total call value of 248,181,000,000 versus a total put value of 426,000,000 Combined total value = 248,607,000,000
Strike 6000 has a total call value of 274,297,500,000 versus a total put value of 159,000,000 Combined total value = 274,456,500,000
Strike 6050 has a total call value of 306,019,500,000 versus a total put value of 115,500,000 Combined total value = 306,135,000,000
Strike 6100 has a total call value of 337,806,000,000 versus a total put value of 72,000,000 Combined total value = 337,878,000,000
Strike 6150 has a total call value of 370,701,000,000 versus a total put value of 36,000,000 Combined total value = 370,737,000,000
Strike 6200 has a total call value of 403,681,500,000 versus a total put value of 0 Combined total value = 403,681,500,000
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.