ITC
Itc Ltd
Max pain for ITC
06 Sep 2024 04:13 PM IST
Max Pain for ITC is 505
Strike 400 has a total call value of 0 versus a total put value of 255,644,000,000 Combined total value = 255,644,000,000
Strike 405 has a total call value of 0 versus a total put value of 241,757,600,000 Combined total value = 241,757,600,000
Strike 410 has a total call value of 0 versus a total put value of 227,871,200,000 Combined total value = 227,871,200,000
Strike 415 has a total call value of 0 versus a total put value of 213,984,800,000 Combined total value = 213,984,800,000
Strike 420 has a total call value of 0 versus a total put value of 200,098,400,000 Combined total value = 200,098,400,000
Strike 425 has a total call value of 0 versus a total put value of 186,272,000,000 Combined total value = 186,272,000,000
Strike 430 has a total call value of 0 versus a total put value of 172,445,600,000 Combined total value = 172,445,600,000
Strike 435 has a total call value of 36,800,000 versus a total put value of 158,679,200,000 Combined total value = 158,716,000,000
Strike 440 has a total call value of 73,600,000 versus a total put value of 144,912,800,000 Combined total value = 144,986,400,000
Strike 445 has a total call value of 135,200,000 versus a total put value of 131,231,200,000 Combined total value = 131,366,400,000
Strike 450 has a total call value of 196,800,000 versus a total put value of 117,549,600,000 Combined total value = 117,746,400,000
Strike 455 has a total call value of 409,600,000 versus a total put value of 104,516,000,000 Combined total value = 104,925,600,000
Strike 460 has a total call value of 622,400,000 versus a total put value of 91,493,600,000 Combined total value = 92,116,000,000
Strike 465 has a total call value of 892,800,000 versus a total put value of 79,161,600,000 Combined total value = 80,054,400,000
Strike 470 has a total call value of 1,167,200,000 versus a total put value of 66,917,600,000 Combined total value = 68,084,800,000
Strike 475 has a total call value of 1,490,400,000 versus a total put value of 55,713,600,000 Combined total value = 57,204,000,000
Strike 480 has a total call value of 1,843,200,000 versus a total put value of 45,084,000,000 Combined total value = 46,927,200,000
Strike 485 has a total call value of 2,444,800,000 versus a total put value of 35,677,600,000 Combined total value = 38,122,400,000
Strike 490 has a total call value of 3,080,800,000 versus a total put value of 26,840,800,000 Combined total value = 29,921,600,000
Strike 495 has a total call value of 3,964,000,000 versus a total put value of 19,248,800,000 Combined total value = 23,212,800,000
Strike 500 has a total call value of 5,040,000,000 versus a total put value of 12,241,600,000 Combined total value = 17,281,600,000
Strike 505 has a total call value of 8,783,200,000 versus a total put value of 7,809,600,000 Combined total value = 16,592,800,000
Strike 510 has a total call value of 14,225,600,000 versus a total put value of 4,481,600,000 Combined total value = 18,707,200,000
Strike 515 has a total call value of 25,068,000,000 versus a total put value of 2,767,200,000 Combined total value = 27,835,200,000
Strike 520 has a total call value of 40,127,200,000 versus a total put value of 1,651,200,000 Combined total value = 41,778,400,000
Strike 525 has a total call value of 60,381,600,000 versus a total put value of 1,048,800,000 Combined total value = 61,430,400,000
Strike 530 has a total call value of 82,340,800,000 versus a total put value of 607,200,000 Combined total value = 82,948,000,000
Strike 535 has a total call value of 106,378,400,000 versus a total put value of 408,000,000 Combined total value = 106,786,400,000
Strike 540 has a total call value of 131,006,400,000 versus a total put value of 226,400,000 Combined total value = 131,232,800,000
Strike 545 has a total call value of 157,401,600,000 versus a total put value of 103,200,000 Combined total value = 157,504,800,000
Strike 550 has a total call value of 184,261,600,000 versus a total put value of 68,800,000 Combined total value = 184,330,400,000
Strike 555 has a total call value of 211,121,600,000 versus a total put value of 34,400,000 Combined total value = 211,156,000,000
Strike 560 has a total call value of 238,159,200,000 versus a total put value of 0 Combined total value = 238,159,200,000
Strike 565 has a total call value of 266,249,600,000 versus a total put value of 0 Combined total value = 266,249,600,000
Strike 570 has a total call value of 294,340,000,000 versus a total put value of 0 Combined total value = 294,340,000,000
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.