IEX
INDIAN ENERGY EXC LTD
Max pain for IEX
28 Jun 2024 04:13 PM IST
Max Pain for IEX is 180
Strike 120 has a total call value of 0 versus a total put value of 79,984,687,500 Combined total value = 79,984,687,500
Strike 122.5 has a total call value of 0 versus a total put value of 76,113,750,000 Combined total value = 76,113,750,000
Strike 125 has a total call value of 0 versus a total put value of 72,242,812,500 Combined total value = 72,242,812,500
Strike 127.5 has a total call value of 0 versus a total put value of 68,371,875,000 Combined total value = 68,371,875,000
Strike 130 has a total call value of 0 versus a total put value of 64,500,937,500 Combined total value = 64,500,937,500
Strike 132.5 has a total call value of 0 versus a total put value of 60,647,812,500 Combined total value = 60,647,812,500
Strike 135 has a total call value of 0 versus a total put value of 56,794,687,500 Combined total value = 56,794,687,500
Strike 137.5 has a total call value of 0 versus a total put value of 52,941,562,500 Combined total value = 52,941,562,500
Strike 140 has a total call value of 0 versus a total put value of 49,088,437,500 Combined total value = 49,088,437,500
Strike 142.5 has a total call value of 0 versus a total put value of 45,270,937,500 Combined total value = 45,270,937,500
Strike 145 has a total call value of 0 versus a total put value of 41,453,437,500 Combined total value = 41,453,437,500
Strike 147.5 has a total call value of 0 versus a total put value of 37,640,625,000 Combined total value = 37,640,625,000
Strike 150 has a total call value of 0 versus a total put value of 33,827,812,500 Combined total value = 33,827,812,500
Strike 152.5 has a total call value of 19,687,500 versus a total put value of 30,338,437,500 Combined total value = 30,358,125,000
Strike 155 has a total call value of 39,375,000 versus a total put value of 26,849,062,500 Combined total value = 26,888,437,500
Strike 157.5 has a total call value of 62,812,500 versus a total put value of 23,394,375,000 Combined total value = 23,457,187,500
Strike 160 has a total call value of 86,250,000 versus a total put value of 19,940,625,000 Combined total value = 20,026,875,000
Strike 162.5 has a total call value of 157,500,000 versus a total put value of 17,053,125,000 Combined total value = 17,210,625,000
Strike 165 has a total call value of 229,687,500 versus a total put value of 14,189,062,500 Combined total value = 14,418,750,000
Strike 167.5 has a total call value of 323,437,500 versus a total put value of 11,643,750,000 Combined total value = 11,967,187,500
Strike 170 has a total call value of 417,187,500 versus a total put value of 9,100,312,500 Combined total value = 9,517,500,000
Strike 172.5 has a total call value of 643,125,000 versus a total put value of 7,314,375,000 Combined total value = 7,957,500,000
Strike 175 has a total call value of 877,500,000 versus a total put value of 5,539,687,500 Combined total value = 6,417,187,500
Strike 177.5 has a total call value of 1,254,375,000 versus a total put value of 4,021,875,000 Combined total value = 5,276,250,000
Strike 180 has a total call value of 1,664,062,500 versus a total put value of 2,541,562,500 Combined total value = 4,205,625,000
Strike 182.5 has a total call value of 3,607,500,000 versus a total put value of 1,905,000,000 Combined total value = 5,512,500,000
Strike 185 has a total call value of 5,744,062,500 versus a total put value of 1,323,750,000 Combined total value = 7,067,812,500
Strike 187.5 has a total call value of 8,753,437,500 versus a total put value of 950,625,000 Combined total value = 9,704,062,500
Strike 190 has a total call value of 11,848,125,000 versus a total put value of 585,937,500 Combined total value = 12,434,062,500
Strike 192.5 has a total call value of 16,365,937,500 versus a total put value of 417,187,500 Combined total value = 16,783,125,000
Strike 195 has a total call value of 20,917,500,000 versus a total put value of 264,375,000 Combined total value = 21,181,875,000
Strike 197.5 has a total call value of 25,955,625,000 versus a total put value of 141,562,500 Combined total value = 26,097,187,500
Strike 200 has a total call value of 31,003,125,000 versus a total put value of 18,750,000 Combined total value = 31,021,875,000
Strike 202.5 has a total call value of 38,626,875,000 versus a total put value of 9,375,000 Combined total value = 38,636,250,000
Strike 205 has a total call value of 46,250,625,000 versus a total put value of 0 Combined total value = 46,250,625,000
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.