INDUSTOWER
Indus Towers Limited
Max pain for INDUSTOWER
21 Nov 2024 02:03 PM IST
Max Pain for INDUSTOWER is 340
Strike 280 has a total call value of 0 versus a total put value of 86,116,900,000 Combined total value = 86,116,900,000
Strike 290 has a total call value of 0 versus a total put value of 71,451,000,000 Combined total value = 71,451,000,000
Strike 300 has a total call value of 37,400,000 versus a total put value of 57,347,800,000 Combined total value = 57,385,200,000
Strike 310 has a total call value of 258,400,000 versus a total put value of 44,351,300,000 Combined total value = 44,609,700,000
Strike 320 has a total call value of 778,600,000 versus a total put value of 33,037,800,000 Combined total value = 33,816,400,000
Strike 330 has a total call value of 2,779,500,000 versus a total put value of 23,495,700,000 Combined total value = 26,275,200,000
Strike 340 has a total call value of 8,517,000,000 versus a total put value of 16,680,400,000 Combined total value = 25,197,400,000
Strike 350 has a total call value of 19,221,900,000 versus a total put value of 11,320,300,000 Combined total value = 30,542,200,000
Strike 360 has a total call value of 34,676,600,000 versus a total put value of 7,315,100,000 Combined total value = 41,991,700,000
Strike 370 has a total call value of 53,437,800,000 versus a total put value of 4,673,300,000 Combined total value = 58,111,100,000
Strike 380 has a total call value of 74,082,600,000 versus a total put value of 2,828,800,000 Combined total value = 76,911,400,000
Strike 390 has a total call value of 96,461,400,000 versus a total put value of 1,700,000,000 Combined total value = 98,161,400,000
Strike 400 has a total call value of 119,482,800,000 versus a total put value of 855,100,000 Combined total value = 120,337,900,000
Strike 410 has a total call value of 144,083,500,000 versus a total put value of 544,000,000 Combined total value = 144,627,500,000
Strike 420 has a total call value of 169,158,500,000 versus a total put value of 232,900,000 Combined total value = 169,391,400,000
Strike 430 has a total call value of 194,678,900,000 versus a total put value of 0 Combined total value = 194,678,900,000
Strike 440 has a total call value of 220,432,200,000 versus a total put value of 0 Combined total value = 220,432,200,000
Strike 450 has a total call value of 246,408,200,000 versus a total put value of 0 Combined total value = 246,408,200,000
Max-Pain Table for Monthly Expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| AARTIIND | 425.65 | 470 |
| ABB | 6777.45 | 7000 |
| ABBOTINDIA | 26960.75 | 28000 |
| ABCAPITAL | 184.24 | 200 |
| ABFRL | 286.85 | 300 |
| ACC | 2038 | 2240 |
| ADANIENT | 2312.7 | 2640 |
| ADANIPORTS | 1137.05 | 1200 |
| ALKEM | 5557.05 | 5500 |
| AMBUJACEM | 497.65 | 540 |
| APOLLOHOSP | 6728.1 | 6900 |
| APOLLOTYRE | 483.95 | 480 |
| ASHOKLEY | 217.88 | 220 |
| ASIANPAINT | 2428.8 | 2540 |
| ASTRAL | 1713 | 1780 |
| ATUL | 7245.1 | 7500 |
| AUBANK | 594.45 | 590 |
| AUROPHARMA | 1221.15 | 1300 |
| AXISBANK | 1142.9 | 1150 |
| BAJAJ-AUTO | 9497 | 9700 |
| BAJAJFINSV | 1576.6 | 1620 |
| BAJFINANCE | 6489.95 | 6700 |
| BALKRISIND | 2741.55 | 2800 |
| BANDHANBNK | 166.7 | 177.5 |
| BANKBARODA | 229.75 | 240 |
| BATAINDIA | 1280.1 | 1310 |
| BEL | 275.5 | 285 |
| BERGEPAINT | 466.6 | 495 |
| BHARATFORG | 1303.6 | 1340 |
| BHARTIARTL | 1520 | 1560 |
| BHEL | 227.62 | 235 |
| BIOCON | 325 | 330 |
| BOSCHLTD | 34086.8 | 34000 |
| BPCL | 282.3 | 300 |
| BRITANNIA | 4766.55 | 5000 |
| BSOFT | 545.15 | 560 |
| CANBK | 94.91 | 100 |
| CANFINHOME | 820.5 | 830 |
| CHAMBLFERT | 459.75 | 480 |
| CHOLAFIN | 1213.85 | 1240 |
| CIPLA | 1454.1 | 1520 |
| COALINDIA | 405.75 | 425 |
| COFORGE | 8213.25 | 8000 |
| COLPAL | 2680.5 | 2800 |
| CONCOR | 770.35 | 810 |
| COROMANDEL | 1773.1 | 1720 |
| CROMPTON | 382.55 | 390 |
| CUB | 171.05 | 175 |
| CUMMINSIND | 3294.4 | 3400 |
| DABUR | 507 | 525 |
| DALBHARAT | 1773.2 | 1760 |
| DEEPAKNTR | 2626.05 | 2650 |
| DIVISLAB | 5950 | 5900 |
| DIXON | 15050.3 | 14750 |
| DLF | 776.8 | 780 |
| DRREDDY | 1193.8 | 1220 |
| EICHERMOT | 4903.5 | 4900 |
| ESCORTS | 3458 | 3600 |
| EXIDEIND | 416.15 | 440 |
| FEDERALBNK | 210.9 | 205 |
| GAIL | 189.4 | 197.5 |
| GLENMARK | 1462.1 | 1520 |
| GMRINFRA | 76.95 | 82 |
| GNFC | 557.25 | 570 |
| GODREJCP | 1180.2 | 1200 |
| GODREJPROP | 2713.95 | 2750 |
| GRANULES | 545.55 | 580 |
| GRASIM | 2532.5 | 2540 |
| GUJGASLTD | 454.2 | 480 |
| HAL | 3996.25 | 4200 |
| HAVELLS | 1629 | 1640 |
| HCLTECH | 1829.05 | 1820 |
| HDFCAMC | 4210.6 | 4300 |
| HDFCBANK | 1743.4 | 1740 |
| HDFCLIFE | 673.4 | 680 |
| HEROMOTOCO | 4757 | 4800 |
| HINDALCO | 646.8 | 650 |
| HINDCOPPER | 263.6 | 290 |
| HINDPETRO | 360.05 | 375 |
| HINDUNILVR | 2379.55 | 2480 |
| ICICIBANK | 1250.55 | 1260 |
| ICICIGI | 1818.35 | 1880 |
| ICICIPRULI | 681.3 | 690 |
| IDEA | 7 | 8 |
| IDFCFIRSTB | 63.18 | 66 |
| IEX | 161.5 | 170 |
| IGL | 311.85 | 330 |
| INDHOTEL | 790 | 760 |
| INDIAMART | 2245.9 | 2400 |
| INDIGO | 4060.5 | 4000 |
| INDUSINDBK | 975.45 | 1040 |
| INDUSTOWER | 331.65 | 340 |
| INFY | 1827.5 | 1800 |
| IOC | 131.09 | 140 |
| IPCALAB | 1566.85 | 1560 |
| IRCTC | 797.65 | 820 |
| ITC | 456.6 | 475 |
| JINDALSTEL | 875.3 | 900 |
| JKCEMENT | 4003.25 | 4000 |
| JSWSTEEL | 942.7 | 960 |
| JUBLFOOD | 611.65 | 610 |
| KOTAKBANK | 1736 | 1760 |
| LALPATHLAB | 3023.6 | 3100 |
| LAURUSLABS | 487.9 | 490 |
| LICHSGFIN | 612.35 | 630 |
| LT | 3497.45 | 3600 |
| LTF | 137.93 | 140 |
| LTIM | 5918.3 | 5900 |
| LTTS | 5158.4 | 5150 |
| LUPIN | 2038.65 | 2100 |
| M&M | 2944.7 | 2900 |
| M&MFIN | 257.65 | 265 |
| MANAPPURAM | 151.12 | 155 |
| MARICO | 589 | 600 |
| MARUTI | 10912.25 | 11000 |
| MCX | 6182.75 | 6200 |
| METROPOLIS | 2011.45 | 2060 |
| MFSL | 1176.65 | 1200 |
| MGL | 1118.6 | 1160 |
| MOTHERSON | 161.89 | 175 |
| MPHASIS | 2773.6 | 2850 |
| MRF | 123010 | 122500 |
| MUTHOOTFIN | 1909 | 1880 |
| NATIONALUM | 249.04 | 240 |
| NAUKRI | 7529.65 | 7700 |
| NAVINFLUOR | 3274.7 | 3400 |
| NESTLEIND | 2204.6 | 2280 |
| NMDC | 218.96 | 225 |
| NTPC | 357 | 370 |
| OBEROIRLTY | 1931.2 | 1960 |
| OFSS | 11145 | 11500 |
| ONGC | 242.25 | 254 |
| PAGEIND | 44625 | 45500 |
| PEL | 1054.5 | 1060 |
| PERSISTENT | 5732.15 | 5600 |
| PETRONET | 321.1 | 328 |
| PFC | 452.8 | 460 |
| PIDILITIND | 2952.1 | 3060 |
| PIIND | 4127.3 | 4200 |
| PNB | 96.85 | 102 |
| POLYCAB | 6429.25 | 6500 |
| POWERGRID | 322.05 | 320 |
| PVRINOX | 1445.3 | 1500 |
| RAMCOCEM | 918.05 | 900 |
| RBLBANK | 158.62 | 160 |
| RECLTD | 490.15 | 510 |
| RELIANCE | 1219.05 | 1290 |
| SAIL | 111.47 | 115 |
| SBICARD | 673.15 | 690 |
| SBILIFE | 1483 | 1520 |
| SBIN | 783.5 | 800 |
| SHREECEM | 24280.4 | 24500 |
| SHRIRAMFIN | 2807.55 | 2900 |
| SIEMENS | 6684.3 | 6800 |
| SRF | 2157 | 2260 |
| SUNPHARMA | 1765 | 1800 |
| SUNTV | 727.3 | 730 |
| SYNGENE | 845.5 | 870 |
| TATACHEM | 1057.05 | 1100 |
| TATACOMM | 1713.5 | 1780 |
| TATACONSUM | 910.3 | 950 |
| TATAMOTORS | 778.9 | 800 |
| TATAPOWER | 410.1 | 420 |
| TATASTEEL | 140.57 | 145 |
| TCS | 4051.5 | 4100 |
| TECHM | 1697.45 | 1680 |
| TITAN | 3166.9 | 3200 |
| TORNTPHARM | 3097.2 | 3150 |
| TRENT | 6460 | 6600 |
| TVSMOTOR | 2400.6 | 2450 |
| UBL | 1821.75 | 1880 |
| ULTRACEMCO | 10933.05 | 11000 |
| UNITDSPR | 1490.65 | 1480 |
| UPL | 562.1 | 540 |
| VEDL | 442.6 | 460 |
| VOLTAS | 1676.05 | 1700 |
| WIPRO | 557 | 560 |
| ZYDUSLIFE | 941.15 | 960 |
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.
