ITC
ITC LTD
Max pain for ITC
26 Jul 2024 04:13 PM IST
Max Pain for ITC is 495
Strike 360 has a total call value of 0 versus a total put value of 278,292,000,000 Combined total value = 278,292,000,000
Strike 365 has a total call value of 0 versus a total put value of 265,717,600,000 Combined total value = 265,717,600,000
Strike 370 has a total call value of 0 versus a total put value of 253,143,200,000 Combined total value = 253,143,200,000
Strike 375 has a total call value of 0 versus a total put value of 240,568,800,000 Combined total value = 240,568,800,000
Strike 380 has a total call value of 0 versus a total put value of 227,994,400,000 Combined total value = 227,994,400,000
Strike 385 has a total call value of 0 versus a total put value of 215,420,000,000 Combined total value = 215,420,000,000
Strike 390 has a total call value of 0 versus a total put value of 202,845,600,000 Combined total value = 202,845,600,000
Strike 395 has a total call value of 0 versus a total put value of 190,271,200,000 Combined total value = 190,271,200,000
Strike 400 has a total call value of 0 versus a total put value of 177,696,800,000 Combined total value = 177,696,800,000
Strike 405 has a total call value of 32,000,000 versus a total put value of 165,532,800,000 Combined total value = 165,564,800,000
Strike 410 has a total call value of 64,000,000 versus a total put value of 153,368,800,000 Combined total value = 153,432,800,000
Strike 415 has a total call value of 96,000,000 versus a total put value of 141,281,600,000 Combined total value = 141,377,600,000
Strike 420 has a total call value of 128,000,000 versus a total put value of 129,194,400,000 Combined total value = 129,322,400,000
Strike 425 has a total call value of 193,600,000 versus a total put value of 117,496,800,000 Combined total value = 117,690,400,000
Strike 430 has a total call value of 259,200,000 versus a total put value of 105,921,600,000 Combined total value = 106,180,800,000
Strike 435 has a total call value of 520,800,000 versus a total put value of 94,851,200,000 Combined total value = 95,372,000,000
Strike 440 has a total call value of 782,400,000 versus a total put value of 83,883,200,000 Combined total value = 84,665,600,000
Strike 445 has a total call value of 1,132,000,000 versus a total put value of 73,823,200,000 Combined total value = 74,955,200,000
Strike 450 has a total call value of 1,481,600,000 versus a total put value of 63,851,200,000 Combined total value = 65,332,800,000
Strike 455 has a total call value of 2,318,400,000 versus a total put value of 55,272,800,000 Combined total value = 57,591,200,000
Strike 460 has a total call value of 3,237,600,000 versus a total put value of 46,925,600,000 Combined total value = 50,163,200,000
Strike 465 has a total call value of 4,608,800,000 versus a total put value of 39,398,400,000 Combined total value = 44,007,200,000
Strike 470 has a total call value of 6,070,400,000 versus a total put value of 32,209,600,000 Combined total value = 38,280,000,000
Strike 475 has a total call value of 7,876,000,000 versus a total put value of 26,092,000,000 Combined total value = 33,968,000,000
Strike 480 has a total call value of 9,808,800,000 versus a total put value of 20,231,200,000 Combined total value = 30,040,000,000
Strike 485 has a total call value of 12,300,000,000 versus a total put value of 15,402,400,000 Combined total value = 27,702,400,000
Strike 490 has a total call value of 14,921,600,000 versus a total put value of 10,764,000,000 Combined total value = 25,685,600,000
Strike 495 has a total call value of 18,138,400,000 versus a total put value of 7,263,200,000 Combined total value = 25,401,600,000
Strike 500 has a total call value of 21,808,000,000 versus a total put value of 4,120,800,000 Combined total value = 25,928,800,000
Strike 505 has a total call value of 28,583,200,000 versus a total put value of 2,852,000,000 Combined total value = 31,435,200,000
Strike 510 has a total call value of 36,104,000,000 versus a total put value of 1,730,400,000 Combined total value = 37,834,400,000
Strike 515 has a total call value of 45,892,800,000 versus a total put value of 1,243,200,000 Combined total value = 47,136,000,000
Strike 520 has a total call value of 56,012,000,000 versus a total put value of 784,800,000 Combined total value = 56,796,800,000
Strike 525 has a total call value of 68,150,400,000 versus a total put value of 569,600,000 Combined total value = 68,720,000,000
Strike 530 has a total call value of 80,668,800,000 versus a total put value of 376,000,000 Combined total value = 81,044,800,000
Strike 535 has a total call value of 94,444,800,000 versus a total put value of 257,600,000 Combined total value = 94,702,400,000
Strike 540 has a total call value of 108,392,800,000 versus a total put value of 157,600,000 Combined total value = 108,550,400,000
Strike 545 has a total call value of 123,227,200,000 versus a total put value of 70,400,000 Combined total value = 123,297,600,000
Strike 550 has a total call value of 138,207,200,000 versus a total put value of 0 Combined total value = 138,207,200,000
Strike 555 has a total call value of 154,662,400,000 versus a total put value of 0 Combined total value = 154,662,400,000
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.