HINDPETRO
HINDUSTAN PETROLEUM CORP
Max pain for HINDPETRO
26 Jul 2024 04:11 PM IST
Max Pain for HINDPETRO is 370
Strike 280 has a total call value of 0 versus a total put value of 54,458,325,000 Combined total value = 54,458,325,000
Strike 290 has a total call value of 0 versus a total put value of 46,413,000,000 Combined total value = 46,413,000,000
Strike 293.35 has a total call value of 0 versus a total put value of 43,749,699,750 Combined total value = 43,749,699,750
Strike 300 has a total call value of 0 versus a total put value of 38,462,850,000 Combined total value = 38,462,850,000
Strike 306.65 has a total call value of 0 versus a total put value of 33,841,233,000 Combined total value = 33,841,233,000
Strike 310 has a total call value of 0 versus a total put value of 31,513,050,000 Combined total value = 31,513,050,000
Strike 320 has a total call value of 44,550,000 versus a total put value of 24,836,625,000 Combined total value = 24,881,175,000
Strike 330 has a total call value of 101,250,000 versus a total put value of 18,684,675,000 Combined total value = 18,785,925,000
Strike 333.35 has a total call value of 203,684,625 versus a total put value of 16,870,700,250 Combined total value = 17,074,384,875
Strike 340 has a total call value of 407,025,000 versus a total put value of 13,269,825,000 Combined total value = 13,676,850,000
Strike 346.65 has a total call value of 703,282,500 versus a total put value of 10,076,977,125 Combined total value = 10,780,259,625
Strike 350 has a total call value of 852,525,000 versus a total put value of 8,468,550,000 Combined total value = 9,321,075,000
Strike 360 has a total call value of 2,199,150,000 versus a total put value of 5,090,850,000 Combined total value = 7,290,000,000
Strike 370 has a total call value of 4,272,750,000 versus a total put value of 2,616,300,000 Combined total value = 6,889,050,000
Strike 373.35 has a total call value of 5,297,774,625 versus a total put value of 2,108,875,500 Combined total value = 7,406,650,125
Strike 380 has a total call value of 7,332,525,000 versus a total put value of 1,101,600,000 Combined total value = 8,434,125,000
Strike 386.65 has a total call value of 10,625,023,125 versus a total put value of 756,864,000 Combined total value = 11,381,887,125
Strike 390 has a total call value of 12,283,650,000 versus a total put value of 583,200,000 Combined total value = 12,866,850,000
Strike 400 has a total call value of 17,925,300,000 versus a total put value of 151,875,000 Combined total value = 18,077,175,000
Strike 410 has a total call value of 24,747,525,000 versus a total put value of 83,025,000 Combined total value = 24,830,550,000
Strike 413.35 has a total call value of 27,126,586,125 versus a total put value of 68,779,125 Combined total value = 27,195,365,250
Strike 420 has a total call value of 31,849,200,000 versus a total put value of 40,500,000 Combined total value = 31,889,700,000
Strike 426.65 has a total call value of 36,881,537,625 versus a total put value of 27,033,750 Combined total value = 36,908,571,375
Strike 430 has a total call value of 39,416,625,000 versus a total put value of 20,250,000 Combined total value = 39,436,875,000
Strike 440 has a total call value of 46,984,050,000 versus a total put value of 0 Combined total value = 46,984,050,000
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.