IGL
Indraprastha Gas Ltd
Max pain for IGL
16 Sep 2024 04:10 PM IST
Max Pain for IGL is 535
Strike 450 has a total call value of 0 versus a total put value of 42,262,687,500 Combined total value = 42,262,687,500
Strike 455 has a total call value of 0 versus a total put value of 39,117,375,000 Combined total value = 39,117,375,000
Strike 460 has a total call value of 0 versus a total put value of 35,972,062,500 Combined total value = 35,972,062,500
Strike 465 has a total call value of 0 versus a total put value of 32,826,750,000 Combined total value = 32,826,750,000
Strike 470 has a total call value of 0 versus a total put value of 29,681,437,500 Combined total value = 29,681,437,500
Strike 475 has a total call value of 0 versus a total put value of 26,536,125,000 Combined total value = 26,536,125,000
Strike 480 has a total call value of 0 versus a total put value of 23,454,062,500 Combined total value = 23,454,062,500
Strike 485 has a total call value of 0 versus a total put value of 20,699,250,000 Combined total value = 20,699,250,000
Strike 490 has a total call value of 0 versus a total put value of 18,023,500,000 Combined total value = 18,023,500,000
Strike 495 has a total call value of 687,500 versus a total put value of 15,534,750,000 Combined total value = 15,535,437,500
Strike 500 has a total call value of 1,375,000 versus a total put value of 13,112,687,500 Combined total value = 13,114,062,500
Strike 505 has a total call value of 35,750,000 versus a total put value of 11,234,437,500 Combined total value = 11,270,187,500
Strike 510 has a total call value of 77,687,500 versus a total put value of 9,453,812,500 Combined total value = 9,531,500,000
Strike 515 has a total call value of 136,812,500 versus a total put value of 7,828,562,500 Combined total value = 7,965,375,000
Strike 520 has a total call value of 230,312,500 versus a total put value of 6,320,875,000 Combined total value = 6,551,187,500
Strike 525 has a total call value of 463,375,000 versus a total put value of 5,068,250,000 Combined total value = 5,531,625,000
Strike 530 has a total call value of 822,250,000 versus a total put value of 3,995,750,000 Combined total value = 4,818,000,000
Strike 535 has a total call value of 1,524,187,500 versus a total put value of 3,081,375,000 Combined total value = 4,605,562,500
Strike 540 has a total call value of 2,426,187,500 versus a total put value of 2,225,437,500 Combined total value = 4,651,625,000
Strike 545 has a total call value of 3,809,437,500 versus a total put value of 1,507,000,000 Combined total value = 5,316,437,500
Strike 550 has a total call value of 5,324,687,500 versus a total put value of 853,187,500 Combined total value = 6,177,875,000
Strike 555 has a total call value of 7,790,062,500 versus a total put value of 506,687,500 Combined total value = 8,296,750,000
Strike 560 has a total call value of 10,524,250,000 versus a total put value of 220,000,000 Combined total value = 10,744,250,000
Strike 565 has a total call value of 14,691,187,500 versus a total put value of 115,500,000 Combined total value = 14,806,687,500
Strike 570 has a total call value of 19,147,562,500 versus a total put value of 34,375,000 Combined total value = 19,181,937,500
Strike 575 has a total call value of 24,309,312,500 versus a total put value of 22,687,500 Combined total value = 24,332,000,000
Strike 580 has a total call value of 29,611,312,500 versus a total put value of 11,000,000 Combined total value = 29,622,312,500
Strike 585 has a total call value of 35,185,562,500 versus a total put value of 9,625,000 Combined total value = 35,195,187,500
Strike 590 has a total call value of 40,818,250,000 versus a total put value of 8,250,000 Combined total value = 40,826,500,000
Strike 595 has a total call value of 46,562,312,500 versus a total put value of 6,875,000 Combined total value = 46,569,187,500
Strike 600 has a total call value of 52,342,125,000 versus a total put value of 5,500,000 Combined total value = 52,347,625,000
Strike 605 has a total call value of 58,953,125,000 versus a total put value of 4,125,000 Combined total value = 58,957,250,000
Strike 610 has a total call value of 65,564,125,000 versus a total put value of 2,750,000 Combined total value = 65,566,875,000
Strike 615 has a total call value of 72,309,875,000 versus a total put value of 1,375,000 Combined total value = 72,311,250,000
Strike 620 has a total call value of 79,055,625,000 versus a total put value of 0 Combined total value = 79,055,625,000
Strike 625 has a total call value of 85,988,375,000 versus a total put value of 0 Combined total value = 85,988,375,000
Strike 630 has a total call value of 92,921,125,000 versus a total put value of 0 Combined total value = 92,921,125,000
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.