INDIGO
Interglobe Aviation Ltd
Max pain for INDIGO
18 Sep 2024 04:11 PM IST
Max Pain for INDIGO is 4850
Strike 3800 has a total call value of 0 versus a total put value of 244,656,000,000 Combined total value = 244,656,000,000
Strike 3850 has a total call value of 0 versus a total put value of 230,503,500,000 Combined total value = 230,503,500,000
Strike 3900 has a total call value of 0 versus a total put value of 216,351,000,000 Combined total value = 216,351,000,000
Strike 3950 has a total call value of 0 versus a total put value of 202,198,500,000 Combined total value = 202,198,500,000
Strike 4000 has a total call value of 0 versus a total put value of 188,046,000,000 Combined total value = 188,046,000,000
Strike 4050 has a total call value of 0 versus a total put value of 174,330,000,000 Combined total value = 174,330,000,000
Strike 4100 has a total call value of 0 versus a total put value of 160,614,000,000 Combined total value = 160,614,000,000
Strike 4150 has a total call value of 0 versus a total put value of 147,174,000,000 Combined total value = 147,174,000,000
Strike 4200 has a total call value of 0 versus a total put value of 133,746,000,000 Combined total value = 133,746,000,000
Strike 4250 has a total call value of 0 versus a total put value of 120,871,500,000 Combined total value = 120,871,500,000
Strike 4300 has a total call value of 0 versus a total put value of 107,997,000,000 Combined total value = 107,997,000,000
Strike 4350 has a total call value of 429,000,000 versus a total put value of 95,911,500,000 Combined total value = 96,340,500,000
Strike 4400 has a total call value of 858,000,000 versus a total put value of 83,826,000,000 Combined total value = 84,684,000,000
Strike 4450 has a total call value of 1,456,500,000 versus a total put value of 72,864,000,000 Combined total value = 74,320,500,000
Strike 4500 has a total call value of 2,055,000,000 versus a total put value of 62,169,000,000 Combined total value = 64,224,000,000
Strike 4550 has a total call value of 3,957,000,000 versus a total put value of 52,722,000,000 Combined total value = 56,679,000,000
Strike 4600 has a total call value of 5,859,000,000 versus a total put value of 43,516,500,000 Combined total value = 49,375,500,000
Strike 4650 has a total call value of 7,986,000,000 versus a total put value of 35,281,500,000 Combined total value = 43,267,500,000
Strike 4700 has a total call value of 10,113,000,000 versus a total put value of 27,205,500,000 Combined total value = 37,318,500,000
Strike 4750 has a total call value of 12,594,000,000 versus a total put value of 20,599,500,000 Combined total value = 33,193,500,000
Strike 4800 has a total call value of 15,247,500,000 versus a total put value of 14,379,000,000 Combined total value = 29,626,500,000
Strike 4850 has a total call value of 18,895,500,000 versus a total put value of 9,988,500,000 Combined total value = 28,884,000,000
Strike 4900 has a total call value of 23,104,500,000 versus a total put value of 6,228,000,000 Combined total value = 29,332,500,000
Strike 4950 has a total call value of 28,584,000,000 versus a total put value of 3,948,000,000 Combined total value = 32,532,000,000
Strike 5000 has a total call value of 34,747,500,000 versus a total put value of 2,041,500,000 Combined total value = 36,789,000,000
Strike 5050 has a total call value of 45,016,500,000 versus a total put value of 1,113,000,000 Combined total value = 46,129,500,000
Strike 5100 has a total call value of 55,731,000,000 versus a total put value of 264,000,000 Combined total value = 55,995,000,000
Strike 5150 has a total call value of 68,488,500,000 versus a total put value of 102,000,000 Combined total value = 68,590,500,000
Strike 5200 has a total call value of 81,564,000,000 versus a total put value of 0 Combined total value = 81,564,000,000
Strike 5250 has a total call value of 96,640,500,000 versus a total put value of 0 Combined total value = 96,640,500,000
Strike 5300 has a total call value of 111,927,000,000 versus a total put value of 0 Combined total value = 111,927,000,000
Strike 5350 has a total call value of 128,053,500,000 versus a total put value of 0 Combined total value = 128,053,500,000
Strike 5400 has a total call value of 144,712,500,000 versus a total put value of 0 Combined total value = 144,712,500,000
Strike 5450 has a total call value of 161,845,500,000 versus a total put value of 0 Combined total value = 161,845,500,000
Strike 5500 has a total call value of 178,978,500,000 versus a total put value of 0 Combined total value = 178,978,500,000
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.