HEROMOTOCO
HERO MOTOCORP LIMITED
Max pain for HEROMOTOCO
02 Jul 2024 11:01 AM IST
Max Pain for HEROMOTOCO is 5600
Strike 4800 has a total call value of 0 versus a total put value of 36,468,750,000 Combined total value = 36,468,750,000
Strike 4850 has a total call value of 0 versus a total put value of 33,330,000,000 Combined total value = 33,330,000,000
Strike 4900 has a total call value of 0 versus a total put value of 30,191,250,000 Combined total value = 30,191,250,000
Strike 4950 has a total call value of 0 versus a total put value of 27,152,250,000 Combined total value = 27,152,250,000
Strike 5000 has a total call value of 0 versus a total put value of 24,113,250,000 Combined total value = 24,113,250,000
Strike 5050 has a total call value of 59,250,000 versus a total put value of 21,423,750,000 Combined total value = 21,483,000,000
Strike 5100 has a total call value of 118,500,000 versus a total put value of 18,734,250,000 Combined total value = 18,852,750,000
Strike 5150 has a total call value of 177,750,000 versus a total put value of 16,161,000,000 Combined total value = 16,338,750,000
Strike 5200 has a total call value of 237,000,000 versus a total put value of 13,632,750,000 Combined total value = 13,869,750,000
Strike 5250 has a total call value of 296,250,000 versus a total put value of 11,472,000,000 Combined total value = 11,768,250,000
Strike 5300 has a total call value of 355,500,000 versus a total put value of 9,366,000,000 Combined total value = 9,721,500,000
Strike 5350 has a total call value of 414,750,000 versus a total put value of 7,503,000,000 Combined total value = 7,917,750,000
Strike 5400 has a total call value of 474,000,000 versus a total put value of 5,688,000,000 Combined total value = 6,162,000,000
Strike 5450 has a total call value of 584,250,000 versus a total put value of 4,160,250,000 Combined total value = 4,744,500,000
Strike 5500 has a total call value of 738,000,000 versus a total put value of 2,703,750,000 Combined total value = 3,441,750,000
Strike 5550 has a total call value of 1,200,750,000 versus a total put value of 1,857,750,000 Combined total value = 3,058,500,000
Strike 5600 has a total call value of 1,806,750,000 versus a total put value of 1,081,500,000 Combined total value = 2,888,250,000
Strike 5650 has a total call value of 3,285,000,000 versus a total put value of 673,500,000 Combined total value = 3,958,500,000
Strike 5700 has a total call value of 5,295,000,000 versus a total put value of 364,500,000 Combined total value = 5,659,500,000
Strike 5750 has a total call value of 8,652,750,000 versus a total put value of 240,750,000 Combined total value = 8,893,500,000
Strike 5800 has a total call value of 12,228,750,000 versus a total put value of 117,000,000 Combined total value = 12,345,750,000
Strike 5850 has a total call value of 16,779,000,000 versus a total put value of 87,750,000 Combined total value = 16,866,750,000
Strike 5900 has a total call value of 21,512,250,000 versus a total put value of 58,500,000 Combined total value = 21,570,750,000
Strike 5950 has a total call value of 26,783,250,000 versus a total put value of 29,250,000 Combined total value = 26,812,500,000
Strike 6000 has a total call value of 32,115,750,000 versus a total put value of 0 Combined total value = 32,115,750,000
Strike 6050 has a total call value of 38,640,750,000 versus a total put value of 0 Combined total value = 38,640,750,000
Strike 6100 has a total call value of 45,205,500,000 versus a total put value of 0 Combined total value = 45,205,500,000
Strike 6150 has a total call value of 51,951,750,000 versus a total put value of 0 Combined total value = 51,951,750,000
Strike 6200 has a total call value of 58,725,750,000 versus a total put value of 0 Combined total value = 58,725,750,000
Strike 6250 has a total call value of 65,840,250,000 versus a total put value of 0 Combined total value = 65,840,250,000
Strike 6300 has a total call value of 72,980,250,000 versus a total put value of 0 Combined total value = 72,980,250,000
Strike 6350 has a total call value of 80,120,250,000 versus a total put value of 0 Combined total value = 80,120,250,000
Strike 6400 has a total call value of 87,260,250,000 versus a total put value of 0 Combined total value = 87,260,250,000
Strike 6450 has a total call value of 94,548,000,000 versus a total put value of 0 Combined total value = 94,548,000,000
Strike 6500 has a total call value of 101,835,750,000 versus a total put value of 0 Combined total value = 101,835,750,000
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.