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IDEA
VODAFONE IDEA LIMITED

13.2 -0.05 (-0.38%)


Strike  5  has a total call value of 0  versus a total put value of  204,704,000,000 Combined total value = 204,704,000,000

Strike  6  has a total call value of 8,000,000  versus a total put value of  179,040,000,000 Combined total value = 179,048,000,000

Strike  7  has a total call value of 128,000,000  versus a total put value of  153,376,000,000 Combined total value = 153,504,000,000

Strike  8  has a total call value of 368,000,000  versus a total put value of  127,712,000,000 Combined total value = 128,080,000,000

Strike  9  has a total call value of 800,000,000  versus a total put value of  102,048,000,000 Combined total value = 102,848,000,000

Strike  10  has a total call value of 1,408,000,000  versus a total put value of  76,384,000,000 Combined total value = 77,792,000,000

Strike  11  has a total call value of 2,504,000,000  versus a total put value of  50,720,000,000 Combined total value = 53,224,000,000

Strike  12  has a total call value of 6,736,000,000  versus a total put value of  25,056,000,000 Combined total value = 31,792,000,000

Strike  13  has a total call value of 14,816,000,000  versus a total put value of  11,720,000,000 Combined total value = 26,536,000,000

Strike  14  has a total call value of 26,800,000,000  versus a total put value of  3,688,000,000 Combined total value = 30,488,000,000

Strike  15  has a total call value of 49,192,000,000  versus a total put value of  352,000,000 Combined total value = 49,544,000,000

Strike  16  has a total call value of 89,672,000,000  versus a total put value of  0 Combined total value = 89,672,000,000

Strike  17  has a total call value of 138,824,000,000  versus a total put value of  0 Combined total value = 138,824,000,000

Strike  18  has a total call value of 194,088,000,000  versus a total put value of  0 Combined total value = 194,088,000,000

Strike  19  has a total call value of 249,352,000,000  versus a total put value of  0 Combined total value = 249,352,000,000

Max Pain - Choose a symbol



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:
  1. Find the difference between stock price and strike price
  2. Multiply the result by open interest at that strike
  3. Add together the dollar value for the put and call at that strike
  4. Repeat for each strike price
  5. 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.