INDIGO
INTERGLOBE AVIATION LTD
Max pain for INDIGO
04 Jul 2024 12:12 PM IST
Max Pain for INDIGO is 4300
Strike 3500 has a total call value of 0 versus a total put value of 96,468,000,000 Combined total value = 96,468,000,000
Strike 3550 has a total call value of 0 versus a total put value of 89,049,000,000 Combined total value = 89,049,000,000
Strike 3600 has a total call value of 0 versus a total put value of 81,630,000,000 Combined total value = 81,630,000,000
Strike 3650 has a total call value of 0 versus a total put value of 74,211,000,000 Combined total value = 74,211,000,000
Strike 3700 has a total call value of 0 versus a total put value of 66,792,000,000 Combined total value = 66,792,000,000
Strike 3750 has a total call value of 0 versus a total put value of 59,755,500,000 Combined total value = 59,755,500,000
Strike 3800 has a total call value of 0 versus a total put value of 52,719,000,000 Combined total value = 52,719,000,000
Strike 3850 has a total call value of 0 versus a total put value of 46,284,000,000 Combined total value = 46,284,000,000
Strike 3900 has a total call value of 0 versus a total put value of 39,849,000,000 Combined total value = 39,849,000,000
Strike 3950 has a total call value of 0 versus a total put value of 33,790,500,000 Combined total value = 33,790,500,000
Strike 4000 has a total call value of 0 versus a total put value of 27,732,000,000 Combined total value = 27,732,000,000
Strike 4050 has a total call value of 438,000,000 versus a total put value of 23,137,500,000 Combined total value = 23,575,500,000
Strike 4100 has a total call value of 876,000,000 versus a total put value of 18,646,500,000 Combined total value = 19,522,500,000
Strike 4150 has a total call value of 1,383,000,000 versus a total put value of 14,799,000,000 Combined total value = 16,182,000,000
Strike 4200 has a total call value of 1,890,000,000 versus a total put value of 11,094,000,000 Combined total value = 12,984,000,000
Strike 4250 has a total call value of 2,983,500,000 versus a total put value of 8,260,500,000 Combined total value = 11,244,000,000
Strike 4300 has a total call value of 4,507,500,000 versus a total put value of 5,794,500,000 Combined total value = 10,302,000,000
Strike 4350 has a total call value of 7,881,000,000 versus a total put value of 4,110,000,000 Combined total value = 11,991,000,000
Strike 4400 has a total call value of 11,533,500,000 versus a total put value of 2,526,000,000 Combined total value = 14,059,500,000
Strike 4450 has a total call value of 17,571,000,000 versus a total put value of 1,572,000,000 Combined total value = 19,143,000,000
Strike 4500 has a total call value of 23,701,500,000 versus a total put value of 618,000,000 Combined total value = 24,319,500,000
Strike 4550 has a total call value of 32,173,500,000 versus a total put value of 348,000,000 Combined total value = 32,521,500,000
Strike 4600 has a total call value of 40,744,500,000 versus a total put value of 81,000,000 Combined total value = 40,825,500,000
Strike 4650 has a total call value of 50,412,000,000 versus a total put value of 67,500,000 Combined total value = 50,479,500,000
Strike 4700 has a total call value of 60,130,500,000 versus a total put value of 54,000,000 Combined total value = 60,184,500,000
Strike 4750 has a total call value of 70,311,000,000 versus a total put value of 40,500,000 Combined total value = 70,351,500,000
Strike 4800 has a total call value of 80,559,000,000 versus a total put value of 27,000,000 Combined total value = 80,586,000,000
Strike 4850 has a total call value of 91,479,000,000 versus a total put value of 13,500,000 Combined total value = 91,492,500,000
Strike 4900 has a total call value of 102,399,000,000 versus a total put value of 0 Combined total value = 102,399,000,000
Strike 4950 has a total call value of 113,487,000,000 versus a total put value of 0 Combined total value = 113,487,000,000
Strike 5000 has a total call value of 124,588,500,000 versus a total put value of 0 Combined total value = 124,588,500,000
Strike 5050 has a total call value of 136,668,000,000 versus a total put value of 0 Combined total value = 136,668,000,000
Strike 5100 has a total call value of 148,747,500,000 versus a total put value of 0 Combined total value = 148,747,500,000
Strike 5150 has a total call value of 160,846,500,000 versus a total put value of 0 Combined total value = 160,846,500,000
Strike 5200 has a total call value of 172,945,500,000 versus a total put value of 0 Combined total value = 172,945,500,000
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.