INDIGO
Interglobe Aviation Ltd
Max pain for INDIGO
16 Sep 2024 04:11 PM IST
Max Pain for INDIGO is 4850
Strike 3600 has a total call value of 0 versus a total put value of 321,759,000,000 Combined total value = 321,759,000,000
Strike 3650 has a total call value of 0 versus a total put value of 306,447,000,000 Combined total value = 306,447,000,000
Strike 3700 has a total call value of 0 versus a total put value of 291,135,000,000 Combined total value = 291,135,000,000
Strike 3750 has a total call value of 0 versus a total put value of 275,823,000,000 Combined total value = 275,823,000,000
Strike 3800 has a total call value of 0 versus a total put value of 260,521,500,000 Combined total value = 260,521,500,000
Strike 3850 has a total call value of 0 versus a total put value of 245,281,500,000 Combined total value = 245,281,500,000
Strike 3900 has a total call value of 0 versus a total put value of 230,041,500,000 Combined total value = 230,041,500,000
Strike 3950 has a total call value of 0 versus a total put value of 214,809,000,000 Combined total value = 214,809,000,000
Strike 4000 has a total call value of 0 versus a total put value of 199,576,500,000 Combined total value = 199,576,500,000
Strike 4050 has a total call value of 0 versus a total put value of 184,789,500,000 Combined total value = 184,789,500,000
Strike 4100 has a total call value of 0 versus a total put value of 170,002,500,000 Combined total value = 170,002,500,000
Strike 4150 has a total call value of 0 versus a total put value of 155,508,000,000 Combined total value = 155,508,000,000
Strike 4200 has a total call value of 0 versus a total put value of 141,013,500,000 Combined total value = 141,013,500,000
Strike 4250 has a total call value of 0 versus a total put value of 127,282,500,000 Combined total value = 127,282,500,000
Strike 4300 has a total call value of 0 versus a total put value of 113,551,500,000 Combined total value = 113,551,500,000
Strike 4350 has a total call value of 580,500,000 versus a total put value of 100,659,000,000 Combined total value = 101,239,500,000
Strike 4400 has a total call value of 1,161,000,000 versus a total put value of 87,967,500,000 Combined total value = 89,128,500,000
Strike 4450 has a total call value of 1,741,500,000 versus a total put value of 76,420,500,000 Combined total value = 78,162,000,000
Strike 4500 has a total call value of 2,322,000,000 versus a total put value of 65,160,000,000 Combined total value = 67,482,000,000
Strike 4550 has a total call value of 4,206,000,000 versus a total put value of 55,218,000,000 Combined total value = 59,424,000,000
Strike 4600 has a total call value of 6,090,000,000 versus a total put value of 45,516,000,000 Combined total value = 51,606,000,000
Strike 4650 has a total call value of 8,217,000,000 versus a total put value of 36,922,500,000 Combined total value = 45,139,500,000
Strike 4700 has a total call value of 10,344,000,000 versus a total put value of 28,507,500,000 Combined total value = 38,851,500,000
Strike 4750 has a total call value of 12,909,000,000 versus a total put value of 21,588,000,000 Combined total value = 34,497,000,000
Strike 4800 has a total call value of 15,652,500,000 versus a total put value of 15,087,000,000 Combined total value = 30,739,500,000
Strike 4850 has a total call value of 19,422,000,000 versus a total put value of 10,467,000,000 Combined total value = 29,889,000,000
Strike 4900 has a total call value of 23,779,500,000 versus a total put value of 6,492,000,000 Combined total value = 30,271,500,000
Strike 4950 has a total call value of 29,671,500,000 versus a total put value of 4,059,000,000 Combined total value = 33,730,500,000
Strike 5000 has a total call value of 36,133,500,000 versus a total put value of 2,019,000,000 Combined total value = 38,152,500,000
Strike 5050 has a total call value of 46,456,500,000 versus a total put value of 1,075,500,000 Combined total value = 47,532,000,000
Strike 5100 has a total call value of 57,210,000,000 versus a total put value of 220,500,000 Combined total value = 57,430,500,000
Strike 5150 has a total call value of 70,080,000,000 versus a total put value of 79,500,000 Combined total value = 70,159,500,000
Strike 5200 has a total call value of 83,334,000,000 versus a total put value of 0 Combined total value = 83,334,000,000
Strike 5250 has a total call value of 98,652,000,000 versus a total put value of 0 Combined total value = 98,652,000,000
Strike 5300 has a total call value of 114,235,500,000 versus a total put value of 0 Combined total value = 114,235,500,000
Strike 5350 has a total call value of 130,620,000,000 versus a total put value of 0 Combined total value = 130,620,000,000
Strike 5400 has a total call value of 147,523,500,000 versus a total put value of 0 Combined total value = 147,523,500,000
Strike 5450 has a total call value of 164,803,500,000 versus a total put value of 0 Combined total value = 164,803,500,000
Strike 5500 has a total call value of 182,083,500,000 versus a total put value of 0 Combined total value = 182,083,500,000
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.