HEROMOTOCO
HERO MOTOCORP LIMITED
Max pain for HEROMOTOCO
16 Apr 2024 11:47 AM IST
Max Pain for HEROMOTOCO is 4500
Strike 3900 has a total call value of 0 versus a total put value of 72,130,500,000 Combined total value = 72,130,500,000
Strike 3950 has a total call value of 0 versus a total put value of 64,272,000,000 Combined total value = 64,272,000,000
Strike 4000 has a total call value of 0 versus a total put value of 56,413,500,000 Combined total value = 56,413,500,000
Strike 4050 has a total call value of 24,000,000 versus a total put value of 49,254,000,000 Combined total value = 49,278,000,000
Strike 4100 has a total call value of 48,000,000 versus a total put value of 42,094,500,000 Combined total value = 42,142,500,000
Strike 4150 has a total call value of 72,000,000 versus a total put value of 35,478,000,000 Combined total value = 35,550,000,000
Strike 4200 has a total call value of 96,000,000 versus a total put value of 28,984,500,000 Combined total value = 29,080,500,000
Strike 4250 has a total call value of 163,500,000 versus a total put value of 23,268,000,000 Combined total value = 23,431,500,000
Strike 4300 has a total call value of 231,000,000 versus a total put value of 17,793,000,000 Combined total value = 18,024,000,000
Strike 4350 has a total call value of 375,000,000 versus a total put value of 13,224,000,000 Combined total value = 13,599,000,000
Strike 4400 has a total call value of 589,500,000 versus a total put value of 8,979,000,000 Combined total value = 9,568,500,000
Strike 4450 has a total call value of 1,459,500,000 versus a total put value of 6,018,000,000 Combined total value = 7,477,500,000
Strike 4500 has a total call value of 2,775,000,000 versus a total put value of 3,279,000,000 Combined total value = 6,054,000,000
Strike 4550 has a total call value of 6,639,000,000 versus a total put value of 1,920,000,000 Combined total value = 8,559,000,000
Strike 4600 has a total call value of 11,430,000,000 versus a total put value of 877,500,000 Combined total value = 12,307,500,000
Strike 4650 has a total call value of 19,104,000,000 versus a total put value of 328,500,000 Combined total value = 19,432,500,000
Strike 4700 has a total call value of 28,264,500,000 versus a total put value of 0 Combined total value = 28,264,500,000
Strike 4750 has a total call value of 41,337,000,000 versus a total put value of 0 Combined total value = 41,337,000,000
Strike 4800 has a total call value of 55,293,000,000 versus a total put value of 0 Combined total value = 55,293,000,000
Strike 4850 has a total call value of 72,327,000,000 versus a total put value of 0 Combined total value = 72,327,000,000
Strike 4900 has a total call value of 89,755,500,000 versus a total put value of 0 Combined total value = 89,755,500,000
Strike 4950 has a total call value of 108,441,000,000 versus a total put value of 0 Combined total value = 108,441,000,000
Strike 5000 has a total call value of 127,543,500,000 versus a total put value of 0 Combined total value = 127,543,500,000
Strike 5050 has a total call value of 149,565,000,000 versus a total put value of 0 Combined total value = 149,565,000,000
Strike 5100 has a total call value of 171,760,500,000 versus a total put value of 0 Combined total value = 171,760,500,000
Strike 5150 has a total call value of 194,718,000,000 versus a total put value of 0 Combined total value = 194,718,000,000
Strike 5200 has a total call value of 217,734,000,000 versus a total put value of 0 Combined total value = 217,734,000,000
Strike 5250 has a total call value of 241,699,500,000 versus a total put value of 0 Combined total value = 241,699,500,000
Strike 5300 has a total call value of 265,665,000,000 versus a total put value of 0 Combined total value = 265,665,000,000
Strike 5350 has a total call value of 290,191,500,000 versus a total put value of 0 Combined total value = 290,191,500,000
Strike 5400 has a total call value of 314,718,000,000 versus a total put value of 0 Combined total value = 314,718,000,000
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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.