HAL
Hindustan Aeronautics Ltd
Max pain for HAL
16 Sep 2024 04:12 PM IST
Max Pain for HAL is 4700
Strike 3800 has a total call value of 0 versus a total put value of 361,443,000,000 Combined total value = 361,443,000,000
Strike 3900 has a total call value of 0 versus a total put value of 316,902,000,000 Combined total value = 316,902,000,000
Strike 4000 has a total call value of 0 versus a total put value of 272,361,000,000 Combined total value = 272,361,000,000
Strike 4100 has a total call value of 36,000,000 versus a total put value of 230,328,000,000 Combined total value = 230,364,000,000
Strike 4200 has a total call value of 72,000,000 versus a total put value of 188,295,000,000 Combined total value = 188,367,000,000
Strike 4300 has a total call value of 108,000,000 versus a total put value of 149,046,000,000 Combined total value = 149,154,000,000
Strike 4400 has a total call value of 321,000,000 versus a total put value of 112,428,000,000 Combined total value = 112,749,000,000
Strike 4500 has a total call value of 858,000,000 versus a total put value of 79,767,000,000 Combined total value = 80,625,000,000
Strike 4600 has a total call value of 2,721,000,000 versus a total put value of 53,895,000,000 Combined total value = 56,616,000,000
Strike 4700 has a total call value of 11,271,000,000 versus a total put value of 35,406,000,000 Combined total value = 46,677,000,000
Strike 4800 has a total call value of 32,253,000,000 versus a total put value of 21,804,000,000 Combined total value = 54,057,000,000
Strike 4900 has a total call value of 66,549,000,000 versus a total put value of 12,675,000,000 Combined total value = 79,224,000,000
Strike 5000 has a total call value of 113,109,000,000 versus a total put value of 6,321,000,000 Combined total value = 119,430,000,000
Strike 5100 has a total call value of 183,582,000,000 versus a total put value of 3,744,000,000 Combined total value = 187,326,000,000
Strike 5200 has a total call value of 260,922,000,000 versus a total put value of 2,028,000,000 Combined total value = 262,950,000,000
Strike 5300 has a total call value of 345,366,000,000 versus a total put value of 954,000,000 Combined total value = 346,320,000,000
Strike 5400 has a total call value of 434,523,000,000 versus a total put value of 390,000,000 Combined total value = 434,913,000,000
Strike 5500 has a total call value of 527,229,000,000 versus a total put value of 195,000,000 Combined total value = 527,424,000,000
Strike 5600 has a total call value of 626,394,000,000 versus a total put value of 0 Combined total value = 626,394,000,000
Strike 5700 has a total call value of 729,198,000,000 versus a total put value of 0 Combined total value = 729,198,000,000
Strike 5800 has a total call value of 832,002,000,000 versus a total put value of 0 Combined total value = 832,002,000,000
Strike 5900 has a total call value of 936,549,000,000 versus a total put value of 0 Combined total value = 936,549,000,000
Strike 6000 has a total call value of 1,041,096,000,000 versus a total put value of 0 Combined total value = 1,041,096,000,000
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.