ITC
ITC LTD
Max pain for ITC
02 Jul 2024 10:53 AM IST
Max Pain for ITC is 425
Strike 355 has a total call value of 0 versus a total put value of 181,096,800,000 Combined total value = 181,096,800,000
Strike 357.5 has a total call value of 0 versus a total put value of 174,219,600,000 Combined total value = 174,219,600,000
Strike 360 has a total call value of 0 versus a total put value of 167,342,400,000 Combined total value = 167,342,400,000
Strike 362.5 has a total call value of 0 versus a total put value of 160,465,200,000 Combined total value = 160,465,200,000
Strike 365 has a total call value of 0 versus a total put value of 153,588,000,000 Combined total value = 153,588,000,000
Strike 367.5 has a total call value of 0 versus a total put value of 146,710,800,000 Combined total value = 146,710,800,000
Strike 370 has a total call value of 0 versus a total put value of 139,833,600,000 Combined total value = 139,833,600,000
Strike 372.5 has a total call value of 0 versus a total put value of 133,047,200,000 Combined total value = 133,047,200,000
Strike 375 has a total call value of 0 versus a total put value of 126,260,800,000 Combined total value = 126,260,800,000
Strike 377.5 has a total call value of 0 versus a total put value of 119,474,400,000 Combined total value = 119,474,400,000
Strike 380 has a total call value of 0 versus a total put value of 112,688,000,000 Combined total value = 112,688,000,000
Strike 382.5 has a total call value of 0 versus a total put value of 106,048,000,000 Combined total value = 106,048,000,000
Strike 385 has a total call value of 0 versus a total put value of 99,408,000,000 Combined total value = 99,408,000,000
Strike 387.5 has a total call value of 0 versus a total put value of 92,845,200,000 Combined total value = 92,845,200,000
Strike 390 has a total call value of 0 versus a total put value of 86,282,400,000 Combined total value = 86,282,400,000
Strike 392.5 has a total call value of 0 versus a total put value of 79,988,400,000 Combined total value = 79,988,400,000
Strike 395 has a total call value of 0 versus a total put value of 73,694,400,000 Combined total value = 73,694,400,000
Strike 397.5 has a total call value of 0 versus a total put value of 67,575,600,000 Combined total value = 67,575,600,000
Strike 400 has a total call value of 0 versus a total put value of 61,474,000,000 Combined total value = 61,474,000,000
Strike 402.5 has a total call value of 591,600,000 versus a total put value of 56,154,400,000 Combined total value = 56,746,000,000
Strike 405 has a total call value of 1,183,200,000 versus a total put value of 50,846,400,000 Combined total value = 52,029,600,000
Strike 407.5 has a total call value of 1,814,400,000 versus a total put value of 45,621,600,000 Combined total value = 47,436,000,000
Strike 410 has a total call value of 2,445,600,000 versus a total put value of 40,421,200,000 Combined total value = 42,866,800,000
Strike 412.5 has a total call value of 3,212,400,000 versus a total put value of 35,742,000,000 Combined total value = 38,954,400,000
Strike 415 has a total call value of 3,992,000,000 versus a total put value of 31,088,400,000 Combined total value = 35,080,400,000
Strike 417.5 has a total call value of 4,832,800,000 versus a total put value of 26,943,200,000 Combined total value = 31,776,000,000
Strike 420 has a total call value of 5,686,800,000 versus a total put value of 22,822,000,000 Combined total value = 28,508,800,000
Strike 422.5 has a total call value of 7,242,800,000 versus a total put value of 19,667,600,000 Combined total value = 26,910,400,000
Strike 425 has a total call value of 8,868,400,000 versus a total put value of 16,622,000,000 Combined total value = 25,490,400,000
Strike 427.5 has a total call value of 11,676,800,000 versus a total put value of 14,168,800,000 Combined total value = 25,845,600,000
Strike 430 has a total call value of 14,639,200,000 versus a total put value of 11,833,600,000 Combined total value = 26,472,800,000
Strike 432.5 has a total call value of 19,870,800,000 versus a total put value of 10,484,800,000 Combined total value = 30,355,600,000
Strike 435 has a total call value of 25,233,600,000 versus a total put value of 9,207,200,000 Combined total value = 34,440,800,000
Strike 437.5 has a total call value of 31,138,800,000 versus a total put value of 8,071,600,000 Combined total value = 39,210,400,000
Strike 440 has a total call value of 37,128,800,000 versus a total put value of 6,965,200,000 Combined total value = 44,094,000,000
Strike 442.5 has a total call value of 44,500,800,000 versus a total put value of 6,200,800,000 Combined total value = 50,701,600,000
Strike 445 has a total call value of 51,968,800,000 versus a total put value of 5,457,200,000 Combined total value = 57,426,000,000
Strike 447.5 has a total call value of 59,662,800,000 versus a total put value of 4,739,600,000 Combined total value = 64,402,400,000
Strike 450 has a total call value of 67,406,000,000 versus a total put value of 4,034,800,000 Combined total value = 71,440,800,000
Strike 452.5 has a total call value of 77,344,400,000 versus a total put value of 3,690,800,000 Combined total value = 81,035,200,000
Strike 455 has a total call value of 87,333,200,000 versus a total put value of 3,354,400,000 Combined total value = 90,687,600,000
Strike 457.5 has a total call value of 97,500,800,000 versus a total put value of 3,018,000,000 Combined total value = 100,518,800,000
Strike 460 has a total call value of 107,676,400,000 versus a total put value of 2,681,600,000 Combined total value = 110,358,000,000
Strike 462.5 has a total call value of 118,518,800,000 versus a total put value of 2,486,400,000 Combined total value = 121,005,200,000
Strike 465 has a total call value of 129,369,200,000 versus a total put value of 2,291,200,000 Combined total value = 131,660,400,000
Strike 467.5 has a total call value of 140,302,800,000 versus a total put value of 2,096,000,000 Combined total value = 142,398,800,000
Strike 470 has a total call value of 151,254,400,000 versus a total put value of 1,900,800,000 Combined total value = 153,155,200,000
Strike 472.5 has a total call value of 162,526,800,000 versus a total put value of 1,742,400,000 Combined total value = 164,269,200,000
Strike 475 has a total call value of 173,801,200,000 versus a total put value of 1,584,000,000 Combined total value = 175,385,200,000
Strike 477.5 has a total call value of 185,192,000,000 versus a total put value of 1,425,600,000 Combined total value = 186,617,600,000
Strike 480 has a total call value of 196,582,800,000 versus a total put value of 1,267,200,000 Combined total value = 197,850,000,000
Strike 482.5 has a total call value of 208,345,200,000 versus a total put value of 1,108,800,000 Combined total value = 209,454,000,000
Strike 485 has a total call value of 220,107,600,000 versus a total put value of 950,400,000 Combined total value = 221,058,000,000
Strike 487.5 has a total call value of 231,906,400,000 versus a total put value of 792,000,000 Combined total value = 232,698,400,000
Strike 490 has a total call value of 243,705,200,000 versus a total put value of 633,600,000 Combined total value = 244,338,800,000
Strike 492.5 has a total call value of 255,604,000,000 versus a total put value of 475,200,000 Combined total value = 256,079,200,000
Strike 495 has a total call value of 267,502,800,000 versus a total put value of 316,800,000 Combined total value = 267,819,600,000
Strike 497.5 has a total call value of 279,401,600,000 versus a total put value of 158,400,000 Combined total value = 279,560,000,000
Strike 500 has a total call value of 291,300,400,000 versus a total put value of 0 Combined total value = 291,300,400,000
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.