INDIGO
Interglobe Aviation Ltd
Max pain for INDIGO
21 Nov 2024 04:01 PM IST
Max Pain for INDIGO is 4050
Strike 3200 has a total call value of 0 versus a total put value of 130,864,500,000 Combined total value = 130,864,500,000
Strike 3250 has a total call value of 0 versus a total put value of 122,124,750,000 Combined total value = 122,124,750,000
Strike 3300 has a total call value of 0 versus a total put value of 113,385,000,000 Combined total value = 113,385,000,000
Strike 3350 has a total call value of 0 versus a total put value of 104,645,250,000 Combined total value = 104,645,250,000
Strike 3400 has a total call value of 0 versus a total put value of 95,905,500,000 Combined total value = 95,905,500,000
Strike 3450 has a total call value of 0 versus a total put value of 87,237,750,000 Combined total value = 87,237,750,000
Strike 3500 has a total call value of 0 versus a total put value of 78,570,000,000 Combined total value = 78,570,000,000
Strike 3550 has a total call value of 0 versus a total put value of 70,374,000,000 Combined total value = 70,374,000,000
Strike 3600 has a total call value of 0 versus a total put value of 62,262,000,000 Combined total value = 62,262,000,000
Strike 3650 has a total call value of 0 versus a total put value of 54,509,250,000 Combined total value = 54,509,250,000
Strike 3700 has a total call value of 0 versus a total put value of 46,899,750,000 Combined total value = 46,899,750,000
Strike 3750 has a total call value of 22,500,000 versus a total put value of 39,778,500,000 Combined total value = 39,801,000,000
Strike 3800 has a total call value of 66,750,000 versus a total put value of 32,937,750,000 Combined total value = 33,004,500,000
Strike 3850 has a total call value of 404,250,000 versus a total put value of 27,020,250,000 Combined total value = 27,424,500,000
Strike 3900 has a total call value of 918,750,000 versus a total put value of 21,611,250,000 Combined total value = 22,530,000,000
Strike 3950 has a total call value of 2,248,500,000 versus a total put value of 17,401,500,000 Combined total value = 19,650,000,000
Strike 4000 has a total call value of 3,865,500,000 versus a total put value of 13,621,500,000 Combined total value = 17,487,000,000
Strike 4050 has a total call value of 6,531,000,000 versus a total put value of 10,890,000,000 Combined total value = 17,421,000,000
Strike 4100 has a total call value of 9,702,000,000 versus a total put value of 8,664,000,000 Combined total value = 18,366,000,000
Strike 4150 has a total call value of 14,814,750,000 versus a total put value of 7,193,250,000 Combined total value = 22,008,000,000
Strike 4200 has a total call value of 20,284,500,000 versus a total put value of 6,038,250,000 Combined total value = 26,322,750,000
Strike 4250 has a total call value of 27,222,000,000 versus a total put value of 5,096,250,000 Combined total value = 32,318,250,000
Strike 4300 has a total call value of 34,543,500,000 versus a total put value of 4,173,000,000 Combined total value = 38,716,500,000
Strike 4350 has a total call value of 42,570,000,000 versus a total put value of 3,350,250,000 Combined total value = 45,920,250,000
Strike 4400 has a total call value of 50,772,000,000 versus a total put value of 2,536,500,000 Combined total value = 53,308,500,000
Strike 4450 has a total call value of 59,574,750,000 versus a total put value of 1,974,000,000 Combined total value = 61,548,750,000
Strike 4500 has a total call value of 68,488,500,000 versus a total put value of 1,411,500,000 Combined total value = 69,900,000,000
Strike 4550 has a total call value of 78,771,000,000 versus a total put value of 1,110,750,000 Combined total value = 79,881,750,000
Strike 4600 has a total call value of 89,053,500,000 versus a total put value of 810,000,000 Combined total value = 89,863,500,000
Strike 4650 has a total call value of 99,666,750,000 versus a total put value of 708,750,000 Combined total value = 100,375,500,000
Strike 4700 has a total call value of 110,280,000,000 versus a total put value of 607,500,000 Combined total value = 110,887,500,000
Strike 4750 has a total call value of 121,117,500,000 versus a total put value of 506,250,000 Combined total value = 121,623,750,000
Strike 4800 has a total call value of 131,955,000,000 versus a total put value of 405,000,000 Combined total value = 132,360,000,000
Strike 4850 has a total call value of 143,118,000,000 versus a total put value of 303,750,000 Combined total value = 143,421,750,000
Strike 4900 has a total call value of 154,281,000,000 versus a total put value of 202,500,000 Combined total value = 154,483,500,000
Strike 4950 has a total call value of 165,444,000,000 versus a total put value of 101,250,000 Combined total value = 165,545,250,000
Strike 5000 has a total call value of 176,607,000,000 versus a total put value of 0 Combined total value = 176,607,000,000
Strike 5050 has a total call value of 188,625,750,000 versus a total put value of 0 Combined total value = 188,625,750,000
Strike 5100 has a total call value of 200,644,500,000 versus a total put value of 0 Combined total value = 200,644,500,000
Strike 5150 has a total call value of 212,663,250,000 versus a total put value of 0 Combined total value = 212,663,250,000
Strike 5200 has a total call value of 224,682,000,000 versus a total put value of 0 Combined total value = 224,682,000,000
Max-Pain Table for Monthly Expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| AARTIIND | 425.6 | 470 |
| ABB | 6760.8 | 7000 |
| ABBOTINDIA | 27114.7 | 28000 |
| ABCAPITAL | 183.01 | 200 |
| ABFRL | 284.4 | 305 |
| ACC | 2027.2 | 2220 |
| ADANIENT | 2183.65 | 2500 |
| ADANIPORTS | 1114.65 | 1200 |
| ALKEM | 5604.75 | 5600 |
| AMBUJACEM | 484.15 | 530 |
| APOLLOHOSP | 6742.5 | 6900 |
| APOLLOTYRE | 481.3 | 480 |
| ASHOKLEY | 218.9 | 220 |
| ASIANPAINT | 2428.15 | 2540 |
| ASTRAL | 1713.9 | 1780 |
| ATUL | 7241.95 | 7500 |
| AUBANK | 593.9 | 590 |
| AUROPHARMA | 1220 | 1300 |
| AXISBANK | 1139.15 | 1150 |
| BAJAJ-AUTO | 9505 | 9700 |
| BAJAJFINSV | 1569.25 | 1620 |
| BAJFINANCE | 6465.65 | 6700 |
| BALKRISIND | 2721.95 | 2800 |
| BANDHANBNK | 165.86 | 180 |
| BANKBARODA | 228.5 | 240 |
| BATAINDIA | 1281.55 | 1310 |
| BEL | 275.45 | 285 |
| BERGEPAINT | 465.5 | 495 |
| BHARATFORG | 1296.2 | 1340 |
| BHARTIARTL | 1525.15 | 1560 |
| BHEL | 227.94 | 235 |
| BIOCON | 323.1 | 330 |
| BOSCHLTD | 34108.7 | 34000 |
| BPCL | 282.4 | 295 |
| BRITANNIA | 4803.35 | 5000 |
| BSOFT | 545.4 | 560 |
| CANBK | 94.46 | 100 |
| CANFINHOME | 822.65 | 830 |
| CHAMBLFERT | 455.4 | 480 |
| CHOLAFIN | 1204.9 | 1260 |
| CIPLA | 1465.5 | 1520 |
| COALINDIA | 406 | 425 |
| COFORGE | 8210.1 | 8000 |
| COLPAL | 2690.3 | 2850 |
| CONCOR | 769.95 | 810 |
| COROMANDEL | 1768 | 1720 |
| CROMPTON | 381.95 | 390 |
| CUB | 170.09 | 175 |
| CUMMINSIND | 3282.25 | 3400 |
| DABUR | 505.75 | 525 |
| DALBHARAT | 1771.6 | 1760 |
| DEEPAKNTR | 2619.2 | 2650 |
| DIVISLAB | 5977.1 | 5900 |
| DIXON | 14995.45 | 14750 |
| DLF | 773.95 | 780 |
| DRREDDY | 1195.35 | 1220 |
| EICHERMOT | 4882.1 | 4900 |
| ESCORTS | 3454.4 | 3600 |
| EXIDEIND | 415.35 | 440 |
| FEDERALBNK | 210.88 | 205 |
| GAIL | 188.3 | 195 |
| GLENMARK | 1466.4 | 1540 |
| GMRINFRA | 76.85 | 82 |
| GNFC | 555.55 | 570 |
| GODREJCP | 1178.7 | 1200 |
| GODREJPROP | 2704.8 | 2750 |
| GRANULES | 544.85 | 570 |
| GRASIM | 2534.85 | 2540 |
| GUJGASLTD | 453.6 | 480 |
| HAL | 3983.45 | 4200 |
| HAVELLS | 1636.1 | 1640 |
| HCLTECH | 1836.35 | 1820 |
| HDFCAMC | 4214.1 | 4300 |
| HDFCBANK | 1741.2 | 1740 |
| HDFCLIFE | 674.4 | 680 |
| HEROMOTOCO | 4767.85 | 4800 |
| HINDALCO | 648.05 | 650 |
| HINDCOPPER | 261.5 | 290 |
| HINDPETRO | 360.1 | 375 |
| HINDUNILVR | 2382.8 | 2480 |
| ICICIBANK | 1250.55 | 1260 |
| ICICIGI | 1804.7 | 1880 |
| ICICIPRULI | 678.55 | 700 |
| IDEA | 6.91 | 8 |
| IDFCFIRSTB | 62.94 | 66 |
| IEX | 161.33 | 170 |
| IGL | 311.4 | 330 |
| INDHOTEL | 786.8 | 760 |
| INDIAMART | 2253.95 | 2350 |
| INDIGO | 4069.8 | 4050 |
| INDUSINDBK | 981.45 | 1040 |
| INDUSTOWER | 329.1 | 340 |
| INFY | 1834.05 | 1800 |
| IOC | 130.71 | 140 |
| IPCALAB | 1573.55 | 1560 |
| IRCTC | 793.85 | 830 |
| ITC | 457.15 | 475 |
| JINDALSTEL | 871.2 | 900 |
| JKCEMENT | 4003 | 4000 |
| JSWSTEEL | 944.15 | 960 |
| JUBLFOOD | 610.2 | 620 |
| KOTAKBANK | 1737.1 | 1760 |
| LALPATHLAB | 3026.1 | 3100 |
| LAURUSLABS | 489.15 | 490 |
| LICHSGFIN | 611.25 | 630 |
| LT | 3483.5 | 3600 |
| LTF | 137.74 | 140 |
| LTIM | 5931.05 | 5900 |
| LTTS | 5165.7 | 5150 |
| LUPIN | 2043 | 2100 |
| M&M | 2936.25 | 2900 |
| M&MFIN | 256.25 | 265 |
| MANAPPURAM | 150.29 | 155 |
| MARICO | 591.05 | 600 |
| MARUTI | 10861.45 | 11000 |
| MCX | 6166.5 | 6200 |
| METROPOLIS | 2015.75 | 2060 |
| MFSL | 1173.5 | 1200 |
| MGL | 1125.35 | 1160 |
| MOTHERSON | 161.84 | 175 |
| MPHASIS | 2786.2 | 2850 |
| MRF | 123509.9 | 122500 |
| MUTHOOTFIN | 1899.55 | 1880 |
| NATIONALUM | 248.21 | 240 |
| NAUKRI | 7515.35 | 7700 |
| NAVINFLUOR | 3262.45 | 3400 |
| NESTLEIND | 2211.2 | 2280 |
| NMDC | 217.63 | 225 |
| NTPC | 356.15 | 370 |
| OBEROIRLTY | 1917.35 | 1960 |
| OFSS | 11141.9 | 11500 |
| ONGC | 242.15 | 250 |
| PAGEIND | 44447.7 | 45500 |
| PEL | 1054.95 | 1060 |
| PERSISTENT | 5725.5 | 5600 |
| PETRONET | 321.85 | 328 |
| PFC | 453.35 | 460 |
| PIDILITIND | 2938.05 | 3060 |
| PIIND | 4138.7 | 4200 |
| PNB | 96.37 | 102 |
| POLYCAB | 6408.35 | 6500 |
| POWERGRID | 325.9 | 320 |
| PVRINOX | 1445.2 | 1480 |
| RAMCOCEM | 914.95 | 900 |
| RBLBANK | 156.23 | 160 |
| RECLTD | 490.95 | 510 |
| RELIANCE | 1223 | 1290 |
| SAIL | 110.59 | 117.5 |
| SBICARD | 675.05 | 690 |
| SBILIFE | 1477.95 | 1520 |
| SBIN | 780.75 | 800 |
| SHREECEM | 24052.85 | 24500 |
| SHRIRAMFIN | 2802.2 | 2900 |
| SIEMENS | 6641.65 | 6800 |
| SRF | 2143.65 | 2260 |
| SUNPHARMA | 1780 | 1800 |
| SUNTV | 728.05 | 730 |
| SYNGENE | 846.9 | 870 |
| TATACHEM | 1045.1 | 1100 |
| TATACOMM | 1711.55 | 1780 |
| TATACONSUM | 911.7 | 950 |
| TATAMOTORS | 773.85 | 800 |
| TATAPOWER | 408.05 | 420 |
| TATASTEEL | 140.22 | 145 |
| TCS | 4072.85 | 4100 |
| TECHM | 1702.25 | 1680 |
| TITAN | 3178.45 | 3200 |
| TORNTPHARM | 3101.95 | 3150 |
| TRENT | 6460.45 | 6600 |
| TVSMOTOR | 2388.45 | 2450 |
| UBL | 1827.95 | 1880 |
| ULTRACEMCO | 10954.85 | 11000 |
| UNITDSPR | 1493.05 | 1480 |
| UPL | 555.75 | 540 |
| VEDL | 442.8 | 460 |
| VOLTAS | 1675.5 | 1700 |
| WIPRO | 557.15 | 560 |
| ZYDUSLIFE | 944.05 | 980 |
Note:
| Stock LTP > Max Pain | Bearish Trend |
| Stock LTP < Max Pain | Bullish Trend |
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.
