IEX
INDIAN ENERGY EXC LTD
Max pain for IEX
02 Jul 2024 10:44 AM IST
Max Pain for IEX is 182.5
Strike 130 has a total call value of 0 versus a total put value of 96,882,187,500 Combined total value = 96,882,187,500
Strike 132.5 has a total call value of 0 versus a total put value of 91,468,125,000 Combined total value = 91,468,125,000
Strike 135 has a total call value of 0 versus a total put value of 86,054,062,500 Combined total value = 86,054,062,500
Strike 137.5 has a total call value of 0 versus a total put value of 80,640,000,000 Combined total value = 80,640,000,000
Strike 140 has a total call value of 0 versus a total put value of 75,225,937,500 Combined total value = 75,225,937,500
Strike 142.5 has a total call value of 0 versus a total put value of 69,857,812,500 Combined total value = 69,857,812,500
Strike 145 has a total call value of 0 versus a total put value of 64,489,687,500 Combined total value = 64,489,687,500
Strike 147.5 has a total call value of 0 versus a total put value of 59,139,375,000 Combined total value = 59,139,375,000
Strike 150 has a total call value of 0 versus a total put value of 53,789,062,500 Combined total value = 53,789,062,500
Strike 152.5 has a total call value of 16,875,000 versus a total put value of 48,746,250,000 Combined total value = 48,763,125,000
Strike 155 has a total call value of 33,750,000 versus a total put value of 43,703,437,500 Combined total value = 43,737,187,500
Strike 157.5 has a total call value of 50,625,000 versus a total put value of 38,762,812,500 Combined total value = 38,813,437,500
Strike 160 has a total call value of 67,500,000 versus a total put value of 33,822,187,500 Combined total value = 33,889,687,500
Strike 162.5 has a total call value of 130,312,500 versus a total put value of 29,428,125,000 Combined total value = 29,558,437,500
Strike 165 has a total call value of 193,125,000 versus a total put value of 25,080,000,000 Combined total value = 25,273,125,000
Strike 167.5 has a total call value of 255,937,500 versus a total put value of 21,112,500,000 Combined total value = 21,368,437,500
Strike 170 has a total call value of 318,750,000 versus a total put value of 17,145,000,000 Combined total value = 17,463,750,000
Strike 172.5 has a total call value of 501,562,500 versus a total put value of 14,059,687,500 Combined total value = 14,561,250,000
Strike 175 has a total call value of 705,937,500 versus a total put value of 11,013,750,000 Combined total value = 11,719,687,500
Strike 177.5 has a total call value of 1,016,250,000 versus a total put value of 8,373,750,000 Combined total value = 9,390,000,000
Strike 180 has a total call value of 1,346,250,000 versus a total put value of 5,825,625,000 Combined total value = 7,171,875,000
Strike 182.5 has a total call value of 2,848,125,000 versus a total put value of 4,201,875,000 Combined total value = 7,050,000,000
Strike 185 has a total call value of 4,494,375,000 versus a total put value of 2,690,625,000 Combined total value = 7,185,000,000
Strike 187.5 has a total call value of 6,834,375,000 versus a total put value of 1,739,062,500 Combined total value = 8,573,437,500
Strike 190 has a total call value of 9,364,687,500 versus a total put value of 883,125,000 Combined total value = 10,247,812,500
Strike 192.5 has a total call value of 13,864,687,500 versus a total put value of 591,562,500 Combined total value = 14,456,250,000
Strike 195 has a total call value of 18,516,562,500 versus a total put value of 330,937,500 Combined total value = 18,847,500,000
Strike 197.5 has a total call value of 23,776,875,000 versus a total put value of 163,125,000 Combined total value = 23,940,000,000
Strike 200 has a total call value of 29,077,500,000 versus a total put value of 0 Combined total value = 29,077,500,000
Strike 202.5 has a total call value of 37,440,000,000 versus a total put value of 0 Combined total value = 37,440,000,000
Strike 205 has a total call value of 45,809,062,500 versus a total put value of 0 Combined total value = 45,809,062,500
Strike 207.5 has a total call value of 54,962,812,500 versus a total put value of 0 Combined total value = 54,962,812,500
Strike 210 has a total call value of 64,128,750,000 versus a total put value of 0 Combined total value = 64,128,750,000
Strike 212.5 has a total call value of 73,420,312,500 versus a total put value of 0 Combined total value = 73,420,312,500
Strike 215 has a total call value of 82,711,875,000 versus a total put value of 0 Combined total value = 82,711,875,000
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.