IRCTC
Indian Rail Tour Corp Ltd
Max pain for IRCTC
21 Nov 2024 02:11 PM IST
Max Pain for IRCTC is 820
Strike 680 has a total call value of 0 versus a total put value of 72,565,500,000 Combined total value = 72,565,500,000
Strike 690 has a total call value of 0 versus a total put value of 66,794,875,000 Combined total value = 66,794,875,000
Strike 700 has a total call value of 0 versus a total put value of 61,024,250,000 Combined total value = 61,024,250,000
Strike 710 has a total call value of 0 versus a total put value of 55,622,000,000 Combined total value = 55,622,000,000
Strike 720 has a total call value of 0 versus a total put value of 50,219,750,000 Combined total value = 50,219,750,000
Strike 730 has a total call value of 0 versus a total put value of 45,054,625,000 Combined total value = 45,054,625,000
Strike 740 has a total call value of 0 versus a total put value of 40,004,125,000 Combined total value = 40,004,125,000
Strike 750 has a total call value of 0 versus a total put value of 35,103,250,000 Combined total value = 35,103,250,000
Strike 760 has a total call value of 11,375,000 versus a total put value of 30,521,750,000 Combined total value = 30,533,125,000
Strike 770 has a total call value of 39,375,000 versus a total put value of 26,108,250,000 Combined total value = 26,147,625,000
Strike 780 has a total call value of 78,750,000 versus a total put value of 21,875,000,000 Combined total value = 21,953,750,000
Strike 790 has a total call value of 204,750,000 versus a total put value of 18,142,250,000 Combined total value = 18,347,000,000
Strike 800 has a total call value of 507,500,000 versus a total put value of 14,681,625,000 Combined total value = 15,189,125,000
Strike 810 has a total call value of 1,400,000,000 versus a total put value of 11,895,625,000 Combined total value = 13,295,625,000
Strike 820 has a total call value of 2,785,125,000 versus a total put value of 9,475,375,000 Combined total value = 12,260,500,000
Strike 830 has a total call value of 4,869,375,000 versus a total put value of 7,435,750,000 Combined total value = 12,305,125,000
Strike 840 has a total call value of 7,347,375,000 versus a total put value of 5,630,625,000 Combined total value = 12,978,000,000
Strike 850 has a total call value of 10,402,875,000 versus a total put value of 4,118,625,000 Combined total value = 14,521,500,000
Strike 860 has a total call value of 14,616,000,000 versus a total put value of 2,990,750,000 Combined total value = 17,606,750,000
Strike 870 has a total call value of 19,411,000,000 versus a total put value of 2,077,250,000 Combined total value = 21,488,250,000
Strike 880 has a total call value of 24,586,625,000 versus a total put value of 1,295,000,000 Combined total value = 25,881,625,000
Strike 890 has a total call value of 30,136,750,000 versus a total put value of 772,625,000 Combined total value = 30,909,375,000
Strike 900 has a total call value of 35,817,250,000 versus a total put value of 320,250,000 Combined total value = 36,137,500,000
Strike 910 has a total call value of 43,080,625,000 versus a total put value of 301,875,000 Combined total value = 43,382,500,000
Strike 920 has a total call value of 50,574,125,000 versus a total put value of 283,500,000 Combined total value = 50,857,625,000
Strike 930 has a total call value of 58,268,875,000 versus a total put value of 265,125,000 Combined total value = 58,534,000,000
Strike 940 has a total call value of 65,963,625,000 versus a total put value of 246,750,000 Combined total value = 66,210,375,000
Strike 950 has a total call value of 73,869,250,000 versus a total put value of 228,375,000 Combined total value = 74,097,625,000
Strike 960 has a total call value of 82,011,125,000 versus a total put value of 210,000,000 Combined total value = 82,221,125,000
Strike 970 has a total call value of 90,341,125,000 versus a total put value of 191,625,000 Combined total value = 90,532,750,000
Strike 980 has a total call value of 98,671,125,000 versus a total put value of 173,250,000 Combined total value = 98,844,375,000
Strike 990 has a total call value of 107,106,125,000 versus a total put value of 154,875,000 Combined total value = 107,261,000,000
Strike 1000 has a total call value of 115,541,125,000 versus a total put value of 136,500,000 Combined total value = 115,677,625,000
Strike 1010 has a total call value of 124,288,500,000 versus a total put value of 118,125,000 Combined total value = 124,406,625,000
Strike 1020 has a total call value of 133,035,875,000 versus a total put value of 99,750,000 Combined total value = 133,135,625,000
Strike 1030 has a total call value of 141,783,250,000 versus a total put value of 81,375,000 Combined total value = 141,864,625,000
Strike 1040 has a total call value of 150,530,625,000 versus a total put value of 63,000,000 Combined total value = 150,593,625,000
Strike 1050 has a total call value of 159,306,000,000 versus a total put value of 47,250,000 Combined total value = 159,353,250,000
Strike 1060 has a total call value of 168,081,375,000 versus a total put value of 31,500,000 Combined total value = 168,112,875,000
Strike 1070 has a total call value of 176,856,750,000 versus a total put value of 15,750,000 Combined total value = 176,872,500,000
Strike 1080 has a total call value of 185,632,125,000 versus a total put value of 0 Combined total value = 185,632,125,000
Max-Pain Table for Monthly Expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| AARTIIND | 425.85 | 470 |
| ABB | 6758.95 | 7000 |
| ABBOTINDIA | 27033.5 | 28000 |
| ABCAPITAL | 183.74 | 200 |
| ABFRL | 284.85 | 300 |
| ACC | 2040.95 | 2220 |
| ADANIENT | 2284 | 2640 |
| ADANIPORTS | 1132.15 | 1200 |
| ALKEM | 5581.65 | 5500 |
| AMBUJACEM | 496.4 | 540 |
| APOLLOHOSP | 6726.5 | 6900 |
| APOLLOTYRE | 484.5 | 480 |
| ASHOKLEY | 217.62 | 220 |
| ASIANPAINT | 2429.85 | 2540 |
| ASTRAL | 1713 | 1780 |
| ATUL | 7250.75 | 7500 |
| AUBANK | 593.8 | 590 |
| AUROPHARMA | 1219.25 | 1300 |
| AXISBANK | 1140.1 | 1150 |
| BAJAJ-AUTO | 9490.55 | 9700 |
| BAJAJFINSV | 1572.45 | 1620 |
| BAJFINANCE | 6476.9 | 6700 |
| BALKRISIND | 2740.45 | 2800 |
| BANDHANBNK | 166.56 | 177.5 |
| BANKBARODA | 229.8 | 240 |
| BATAINDIA | 1280.9 | 1310 |
| BEL | 275.1 | 285 |
| BERGEPAINT | 466.65 | 495 |
| BHARATFORG | 1297.8 | 1340 |
| BHARTIARTL | 1521.05 | 1540 |
| BHEL | 227.89 | 235 |
| BIOCON | 324.5 | 330 |
| BOSCHLTD | 34082.45 | 34000 |
| BPCL | 282.4 | 300 |
| BRITANNIA | 4772 | 5000 |
| BSOFT | 545.1 | 560 |
| CANBK | 94.86 | 100 |
| CANFINHOME | 822 | 830 |
| CHAMBLFERT | 459.95 | 480 |
| CHOLAFIN | 1210.85 | 1240 |
| CIPLA | 1459.65 | 1520 |
| COALINDIA | 405.6 | 425 |
| COFORGE | 8209.8 | 8000 |
| COLPAL | 2688 | 2800 |
| CONCOR | 768.5 | 810 |
| COROMANDEL | 1777.55 | 1720 |
| CROMPTON | 381.5 | 390 |
| CUB | 170.44 | 175 |
| CUMMINSIND | 3291.2 | 3400 |
| DABUR | 504.1 | 525 |
| DALBHARAT | 1779.7 | 1760 |
| DEEPAKNTR | 2623.1 | 2650 |
| DIVISLAB | 5955.7 | 5900 |
| DIXON | 15029.9 | 14750 |
| DLF | 777.3 | 780 |
| DRREDDY | 1193.65 | 1220 |
| EICHERMOT | 4908.7 | 4900 |
| ESCORTS | 3456.5 | 3600 |
| EXIDEIND | 416.35 | 440 |
| FEDERALBNK | 210.7 | 205 |
| GAIL | 188.71 | 197.5 |
| GLENMARK | 1466 | 1520 |
| GMRINFRA | 76.98 | 82 |
| GNFC | 556.6 | 570 |
| GODREJCP | 1180.4 | 1200 |
| GODREJPROP | 2711.8 | 2750 |
| GRANULES | 546.3 | 580 |
| GRASIM | 2548 | 2540 |
| GUJGASLTD | 454.15 | 480 |
| HAL | 3993.8 | 4200 |
| HAVELLS | 1632.35 | 1640 |
| HCLTECH | 1832.7 | 1820 |
| HDFCAMC | 4207.7 | 4300 |
| HDFCBANK | 1742.55 | 1740 |
| HDFCLIFE | 673.75 | 680 |
| HEROMOTOCO | 4756.6 | 4800 |
| HINDALCO | 646 | 650 |
| HINDCOPPER | 263.4 | 290 |
| HINDPETRO | 360.35 | 375 |
| HINDUNILVR | 2380 | 2480 |
| ICICIBANK | 1252.1 | 1260 |
| ICICIGI | 1817.85 | 1880 |
| ICICIPRULI | 679.9 | 690 |
| IDEA | 6.98 | 8 |
| IDFCFIRSTB | 63.21 | 66 |
| IEX | 161.41 | 170 |
| IGL | 311.95 | 330 |
| INDHOTEL | 791.35 | 760 |
| INDIAMART | 2249.6 | 2400 |
| INDIGO | 4062.8 | 4000 |
| INDUSINDBK | 974.65 | 1040 |
| INDUSTOWER | 330.3 | 340 |
| INFY | 1829.95 | 1800 |
| IOC | 131.08 | 140 |
| IPCALAB | 1568.85 | 1560 |
| IRCTC | 796.45 | 820 |
| ITC | 456.15 | 475 |
| JINDALSTEL | 874.45 | 900 |
| JKCEMENT | 4010 | 4000 |
| JSWSTEEL | 943.3 | 960 |
| JUBLFOOD | 610.3 | 620 |
| KOTAKBANK | 1736.3 | 1760 |
| LALPATHLAB | 3021.65 | 3100 |
| LAURUSLABS | 488.6 | 490 |
| LICHSGFIN | 611.8 | 630 |
| LT | 3491.85 | 3600 |
| LTF | 138 | 140 |
| LTIM | 5918.9 | 5900 |
| LTTS | 5176.8 | 5150 |
| LUPIN | 2040.4 | 2100 |
| M&M | 2942 | 2900 |
| M&MFIN | 257.15 | 265 |
| MANAPPURAM | 150.95 | 155 |
| MARICO | 590.95 | 600 |
| MARUTI | 10908.95 | 11000 |
| MCX | 6184.05 | 6200 |
| METROPOLIS | 2011 | 2060 |
| MFSL | 1176.05 | 1200 |
| MGL | 1118.35 | 1160 |
| MOTHERSON | 161.7 | 175 |
| MPHASIS | 2777.1 | 2850 |
| MRF | 123170.35 | 122500 |
| MUTHOOTFIN | 1907 | 1880 |
| NATIONALUM | 248.41 | 240 |
| NAUKRI | 7540.7 | 7700 |
| NAVINFLUOR | 3269.35 | 3400 |
| NESTLEIND | 2205.55 | 2280 |
| NMDC | 218.35 | 225 |
| NTPC | 356.2 | 370 |
| OBEROIRLTY | 1934.3 | 1960 |
| OFSS | 11142.05 | 11500 |
| ONGC | 242 | 250 |
| PAGEIND | 44577.95 | 45500 |
| PEL | 1052.85 | 1060 |
| PERSISTENT | 5731.5 | 5600 |
| PETRONET | 320.75 | 328 |
| PFC | 452.1 | 460 |
| PIDILITIND | 2944.95 | 3060 |
| PIIND | 4130 | 4200 |
| PNB | 96.8 | 102 |
| POLYCAB | 6429.95 | 6500 |
| POWERGRID | 322.1 | 320 |
| PVRINOX | 1443.7 | 1500 |
| RAMCOCEM | 916.1 | 900 |
| RBLBANK | 157.88 | 160 |
| RECLTD | 489.7 | 510 |
| RELIANCE | 1219.95 | 1290 |
| SAIL | 111.17 | 115 |
| SBICARD | 674.35 | 690 |
| SBILIFE | 1481.8 | 1520 |
| SBIN | 780.5 | 800 |
| SHREECEM | 24235.1 | 24500 |
| SHRIRAMFIN | 2804.55 | 2900 |
| SIEMENS | 6680 | 6800 |
| SRF | 2155.4 | 2260 |
| SUNPHARMA | 1765 | 1800 |
| SUNTV | 728.7 | 730 |
| SYNGENE | 844.6 | 870 |
| TATACHEM | 1057.5 | 1100 |
| TATACOMM | 1711.05 | 1780 |
| TATACONSUM | 911.9 | 950 |
| TATAMOTORS | 777.4 | 800 |
| TATAPOWER | 410.35 | 420 |
| TATASTEEL | 140.35 | 145 |
| TCS | 4056.6 | 4100 |
| TECHM | 1699.25 | 1680 |
| TITAN | 3165.95 | 3200 |
| TORNTPHARM | 3097.45 | 3150 |
| TRENT | 6460 | 6600 |
| TVSMOTOR | 2399.6 | 2450 |
| UBL | 1819.8 | 1880 |
| ULTRACEMCO | 10935.5 | 11000 |
| UNITDSPR | 1490.9 | 1480 |
| UPL | 562.8 | 540 |
| VEDL | 442.7 | 460 |
| VOLTAS | 1671.85 | 1700 |
| WIPRO | 557 | 560 |
| ZYDUSLIFE | 941.8 | 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.
