ITC
ITC LTD
Max pain for ITC
01 Jul 2024 10:14 AM IST
Max Pain for ITC is 425
Strike 360 has a total call value of 0 versus a total put value of 144,628,400,000 Combined total value = 144,628,400,000
Strike 362.5 has a total call value of 0 versus a total put value of 138,563,600,000 Combined total value = 138,563,600,000
Strike 365 has a total call value of 0 versus a total put value of 132,498,800,000 Combined total value = 132,498,800,000
Strike 367.5 has a total call value of 0 versus a total put value of 126,434,000,000 Combined total value = 126,434,000,000
Strike 370 has a total call value of 0 versus a total put value of 120,369,200,000 Combined total value = 120,369,200,000
Strike 372.5 has a total call value of 0 versus a total put value of 114,381,200,000 Combined total value = 114,381,200,000
Strike 375 has a total call value of 0 versus a total put value of 108,393,200,000 Combined total value = 108,393,200,000
Strike 377.5 has a total call value of 0 versus a total put value of 102,405,200,000 Combined total value = 102,405,200,000
Strike 380 has a total call value of 0 versus a total put value of 96,417,200,000 Combined total value = 96,417,200,000
Strike 382.5 has a total call value of 19,200,000 versus a total put value of 90,560,000,000 Combined total value = 90,579,200,000
Strike 385 has a total call value of 38,400,000 versus a total put value of 84,702,800,000 Combined total value = 84,741,200,000
Strike 387.5 has a total call value of 57,600,000 versus a total put value of 78,902,400,000 Combined total value = 78,960,000,000
Strike 390 has a total call value of 76,800,000 versus a total put value of 73,102,000,000 Combined total value = 73,178,800,000
Strike 392.5 has a total call value of 96,000,000 versus a total put value of 67,563,200,000 Combined total value = 67,659,200,000
Strike 395 has a total call value of 115,200,000 versus a total put value of 62,024,400,000 Combined total value = 62,139,600,000
Strike 397.5 has a total call value of 134,400,000 versus a total put value of 56,652,000,000 Combined total value = 56,786,400,000
Strike 400 has a total call value of 153,600,000 versus a total put value of 51,297,200,000 Combined total value = 51,450,800,000
Strike 402.5 has a total call value of 631,600,000 versus a total put value of 46,673,600,000 Combined total value = 47,305,200,000
Strike 405 has a total call value of 1,109,600,000 versus a total put value of 42,062,400,000 Combined total value = 43,172,000,000
Strike 407.5 has a total call value of 1,587,600,000 versus a total put value of 37,525,200,000 Combined total value = 39,112,800,000
Strike 410 has a total call value of 2,065,600,000 versus a total put value of 33,008,400,000 Combined total value = 35,074,000,000
Strike 412.5 has a total call value of 2,687,600,000 versus a total put value of 28,960,400,000 Combined total value = 31,648,000,000
Strike 415 has a total call value of 3,320,000,000 versus a total put value of 24,930,400,000 Combined total value = 28,250,400,000
Strike 417.5 has a total call value of 4,021,200,000 versus a total put value of 21,314,000,000 Combined total value = 25,335,200,000
Strike 420 has a total call value of 4,736,000,000 versus a total put value of 17,714,400,000 Combined total value = 22,450,400,000
Strike 422.5 has a total call value of 6,202,800,000 versus a total put value of 15,037,600,000 Combined total value = 21,240,400,000
Strike 425 has a total call value of 7,792,000,000 versus a total put value of 12,452,400,000 Combined total value = 20,244,400,000
Strike 427.5 has a total call value of 10,548,800,000 versus a total put value of 10,329,600,000 Combined total value = 20,878,400,000
Strike 430 has a total call value of 13,452,400,000 versus a total put value of 8,308,800,000 Combined total value = 21,761,200,000
Strike 432.5 has a total call value of 18,244,800,000 versus a total put value of 7,140,800,000 Combined total value = 25,385,600,000
Strike 435 has a total call value of 23,117,200,000 versus a total put value of 6,025,600,000 Combined total value = 29,142,800,000
Strike 437.5 has a total call value of 28,440,800,000 versus a total put value of 5,019,600,000 Combined total value = 33,460,400,000
Strike 440 has a total call value of 33,838,000,000 versus a total put value of 4,039,600,000 Combined total value = 37,877,600,000
Strike 442.5 has a total call value of 40,384,800,000 versus a total put value of 3,402,400,000 Combined total value = 43,787,200,000
Strike 445 has a total call value of 47,006,400,000 versus a total put value of 2,784,000,000 Combined total value = 49,790,400,000
Strike 447.5 has a total call value of 53,817,600,000 versus a total put value of 2,185,600,000 Combined total value = 56,003,200,000
Strike 450 has a total call value of 60,668,400,000 versus a total put value of 1,595,200,000 Combined total value = 62,263,600,000
Strike 452.5 has a total call value of 69,230,400,000 versus a total put value of 1,360,000,000 Combined total value = 70,590,400,000
Strike 455 has a total call value of 77,839,600,000 versus a total put value of 1,124,800,000 Combined total value = 78,964,400,000
Strike 457.5 has a total call value of 86,603,600,000 versus a total put value of 889,600,000 Combined total value = 87,493,200,000
Strike 460 has a total call value of 95,371,600,000 versus a total put value of 654,400,000 Combined total value = 96,026,000,000
Strike 462.5 has a total call value of 104,735,200,000 versus a total put value of 554,400,000 Combined total value = 105,289,600,000
Strike 465 has a total call value of 114,102,000,000 versus a total put value of 454,400,000 Combined total value = 114,556,400,000
Strike 467.5 has a total call value of 123,532,800,000 versus a total put value of 354,400,000 Combined total value = 123,887,200,000
Strike 470 has a total call value of 132,968,000,000 versus a total put value of 254,400,000 Combined total value = 133,222,400,000
Strike 472.5 has a total call value of 142,694,800,000 versus a total put value of 190,800,000 Combined total value = 142,885,600,000
Strike 475 has a total call value of 152,421,600,000 versus a total put value of 127,200,000 Combined total value = 152,548,800,000
Strike 477.5 has a total call value of 162,241,200,000 versus a total put value of 63,600,000 Combined total value = 162,304,800,000
Strike 480 has a total call value of 172,060,800,000 versus a total put value of 0 Combined total value = 172,060,800,000
Strike 482.5 has a total call value of 182,207,600,000 versus a total put value of 0 Combined total value = 182,207,600,000
Strike 485 has a total call value of 192,354,400,000 versus a total put value of 0 Combined total value = 192,354,400,000
Strike 487.5 has a total call value of 202,532,000,000 versus a total put value of 0 Combined total value = 202,532,000,000
Strike 490 has a total call value of 212,709,600,000 versus a total put value of 0 Combined total value = 212,709,600,000
Strike 492.5 has a total call value of 222,948,400,000 versus a total put value of 0 Combined total value = 222,948,400,000
Strike 495 has a total call value of 233,187,200,000 versus a total put value of 0 Combined total value = 233,187,200,000
Strike 497.5 has a total call value of 243,426,000,000 versus a total put value of 0 Combined total value = 243,426,000,000
Strike 500 has a total call value of 253,664,800,000 versus a total put value of 0 Combined total value = 253,664,800,000
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.