IRCTC
Indian Rail Tour Corp Ltd
Max pain for IRCTC
06 Sep 2024 04:11 PM IST
Max Pain for IRCTC is 940
Strike 760 has a total call value of 0 versus a total put value of 111,146,000,000 Combined total value = 111,146,000,000
Strike 780 has a total call value of 0 versus a total put value of 97,616,750,000 Combined total value = 97,616,750,000
Strike 800 has a total call value of 0 versus a total put value of 84,087,500,000 Combined total value = 84,087,500,000
Strike 820 has a total call value of 0 versus a total put value of 70,799,750,000 Combined total value = 70,799,750,000
Strike 840 has a total call value of 0 versus a total put value of 57,597,750,000 Combined total value = 57,597,750,000
Strike 860 has a total call value of 0 versus a total put value of 44,794,750,000 Combined total value = 44,794,750,000
Strike 880 has a total call value of 21,000,000 versus a total put value of 32,775,750,000 Combined total value = 32,796,750,000
Strike 900 has a total call value of 89,250,000 versus a total put value of 21,735,000,000 Combined total value = 21,824,250,000
Strike 920 has a total call value of 633,500,000 versus a total put value of 13,445,250,000 Combined total value = 14,078,750,000
Strike 940 has a total call value of 1,888,250,000 versus a total put value of 7,344,750,000 Combined total value = 9,233,000,000
Strike 960 has a total call value of 6,728,750,000 versus a total put value of 4,368,000,000 Combined total value = 11,096,750,000
Strike 980 has a total call value of 16,170,000,000 versus a total put value of 2,460,500,000 Combined total value = 18,630,500,000
Strike 1000 has a total call value of 27,326,250,000 versus a total put value of 1,153,250,000 Combined total value = 28,479,500,000
Strike 1020 has a total call value of 43,027,250,000 versus a total put value of 808,500,000 Combined total value = 43,835,750,000
Strike 1040 has a total call value of 61,225,500,000 versus a total put value of 546,000,000 Combined total value = 61,771,500,000
Strike 1060 has a total call value of 80,286,500,000 versus a total put value of 364,000,000 Combined total value = 80,650,500,000
Strike 1080 has a total call value of 99,930,250,000 versus a total put value of 182,000,000 Combined total value = 100,112,250,000
Strike 1100 has a total call value of 119,827,750,000 versus a total put value of 0 Combined total value = 119,827,750,000
Strike 1120 has a total call value of 141,065,750,000 versus a total put value of 0 Combined total value = 141,065,750,000
Strike 1140 has a total call value of 162,503,250,000 versus a total put value of 0 Combined total value = 162,503,250,000
Strike 1160 has a total call value of 183,940,750,000 versus a total put value of 0 Combined total value = 183,940,750,000
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.