HDFCLIFE
HDFC LIFE INS CO LTD
Max pain for HDFCLIFE
02 Jul 2024 10:42 AM IST
Max Pain for HDFCLIFE is 590
Strike 500 has a total call value of 0 versus a total put value of 40,888,650,000 Combined total value = 40,888,650,000
Strike 505 has a total call value of 0 versus a total put value of 38,278,900,000 Combined total value = 38,278,900,000
Strike 510 has a total call value of 0 versus a total put value of 35,669,150,000 Combined total value = 35,669,150,000
Strike 515 has a total call value of 0 versus a total put value of 33,059,400,000 Combined total value = 33,059,400,000
Strike 520 has a total call value of 0 versus a total put value of 30,449,650,000 Combined total value = 30,449,650,000
Strike 525 has a total call value of 0 versus a total put value of 27,948,800,000 Combined total value = 27,948,800,000
Strike 530 has a total call value of 0 versus a total put value of 25,447,950,000 Combined total value = 25,447,950,000
Strike 535 has a total call value of 0 versus a total put value of 23,034,000,000 Combined total value = 23,034,000,000
Strike 540 has a total call value of 0 versus a total put value of 20,620,050,000 Combined total value = 20,620,050,000
Strike 545 has a total call value of 0 versus a total put value of 18,326,550,000 Combined total value = 18,326,550,000
Strike 550 has a total call value of 0 versus a total put value of 16,046,800,000 Combined total value = 16,046,800,000
Strike 555 has a total call value of 74,800,000 versus a total put value of 14,127,850,000 Combined total value = 14,202,650,000
Strike 560 has a total call value of 149,600,000 versus a total put value of 12,230,350,000 Combined total value = 12,379,950,000
Strike 565 has a total call value of 242,550,000 versus a total put value of 10,492,350,000 Combined total value = 10,734,900,000
Strike 570 has a total call value of 341,000,000 versus a total put value of 8,826,400,000 Combined total value = 9,167,400,000
Strike 575 has a total call value of 499,950,000 versus a total put value of 7,390,900,000 Combined total value = 7,890,850,000
Strike 580 has a total call value of 671,550,000 versus a total put value of 5,985,650,000 Combined total value = 6,657,200,000
Strike 585 has a total call value of 1,380,500,000 versus a total put value of 4,925,250,000 Combined total value = 6,305,750,000
Strike 590 has a total call value of 2,113,100,000 versus a total put value of 3,905,000,000 Combined total value = 6,018,100,000
Strike 595 has a total call value of 3,134,450,000 versus a total put value of 3,134,450,000 Combined total value = 6,268,900,000
Strike 600 has a total call value of 4,308,700,000 versus a total put value of 2,446,400,000 Combined total value = 6,755,100,000
Strike 605 has a total call value of 7,206,100,000 versus a total put value of 2,084,500,000 Combined total value = 9,290,600,000
Strike 610 has a total call value of 10,196,450,000 versus a total put value of 1,740,200,000 Combined total value = 11,936,650,000
Strike 615 has a total call value of 13,598,750,000 versus a total put value of 1,453,100,000 Combined total value = 15,051,850,000
Strike 620 has a total call value of 17,342,600,000 versus a total put value of 1,170,950,000 Combined total value = 18,513,550,000
Strike 625 has a total call value of 21,435,150,000 versus a total put value of 950,950,000 Combined total value = 22,386,100,000
Strike 630 has a total call value of 25,564,000,000 versus a total put value of 733,700,000 Combined total value = 26,297,700,000
Strike 635 has a total call value of 29,897,450,000 versus a total put value of 545,050,000 Combined total value = 30,442,500,000
Strike 640 has a total call value of 34,245,200,000 versus a total put value of 357,500,000 Combined total value = 34,602,700,000
Strike 645 has a total call value of 38,745,850,000 versus a total put value of 178,750,000 Combined total value = 38,924,600,000
Strike 650 has a total call value of 43,256,400,000 versus a total put value of 0 Combined total value = 43,256,400,000
Strike 655 has a total call value of 48,384,050,000 versus a total put value of 0 Combined total value = 48,384,050,000
Strike 660 has a total call value of 53,521,050,000 versus a total put value of 0 Combined total value = 53,521,050,000
Strike 665 has a total call value of 58,743,300,000 versus a total put value of 0 Combined total value = 58,743,300,000
Strike 670 has a total call value of 63,965,550,000 versus a total put value of 0 Combined total value = 63,965,550,000
Strike 675 has a total call value of 69,245,000,000 versus a total put value of 0 Combined total value = 69,245,000,000
Strike 680 has a total call value of 74,524,450,000 versus a total put value of 0 Combined total value = 74,524,450,000
Strike 685 has a total call value of 79,900,700,000 versus a total put value of 0 Combined total value = 79,900,700,000
Strike 690 has a total call value of 85,276,950,000 versus a total put value of 0 Combined total value = 85,276,950,000
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.