LTF
L&T FINANCE LIMITED
Max pain for LTF
28 Jun 2024 04:13 PM IST
Max Pain for LTF is 180
Strike 150 has a total call value of 0 versus a total put value of 25,569,491,000 Combined total value = 25,569,491,000
Strike 152.5 has a total call value of 0 versus a total put value of 22,684,808,000 Combined total value = 22,684,808,000
Strike 155 has a total call value of 0 versus a total put value of 19,800,125,000 Combined total value = 19,800,125,000
Strike 157.5 has a total call value of 0 versus a total put value of 16,981,256,500 Combined total value = 16,981,256,500
Strike 160 has a total call value of 0 versus a total put value of 14,162,388,000 Combined total value = 14,162,388,000
Strike 162.5 has a total call value of 31,234,000 versus a total put value of 11,955,929,000 Combined total value = 11,987,163,000
Strike 165 has a total call value of 62,468,000 versus a total put value of 9,749,470,000 Combined total value = 9,811,938,000
Strike 167.5 has a total call value of 95,933,000 versus a total put value of 7,913,357,000 Combined total value = 8,009,290,000
Strike 170 has a total call value of 129,398,000 versus a total put value of 6,135,250,000 Combined total value = 6,264,648,000
Strike 172.5 has a total call value of 281,106,000 versus a total put value of 4,869,157,500 Combined total value = 5,150,263,500
Strike 175 has a total call value of 441,738,000 versus a total put value of 3,653,262,500 Combined total value = 4,095,000,500
Strike 177.5 has a total call value of 659,260,500 versus a total put value of 2,677,200,000 Combined total value = 3,336,460,500
Strike 180 has a total call value of 890,169,000 versus a total put value of 1,735,718,000 Combined total value = 2,625,887,000
Strike 182.5 has a total call value of 1,546,083,000 versus a total put value of 1,261,630,500 Combined total value = 2,807,713,500
Strike 185 has a total call value of 2,316,893,500 versus a total put value of 844,433,500 Combined total value = 3,161,327,000
Strike 187.5 has a total call value of 3,680,034,500 versus a total put value of 565,558,500 Combined total value = 4,245,593,000
Strike 190 has a total call value of 5,279,661,500 versus a total put value of 316,802,000 Combined total value = 5,596,463,500
Strike 192.5 has a total call value of 8,012,636,500 versus a total put value of 208,598,500 Combined total value = 8,221,235,000
Strike 195 has a total call value of 10,786,885,000 versus a total put value of 109,319,000 Combined total value = 10,896,204,000
Strike 197.5 has a total call value of 13,923,671,000 versus a total put value of 52,428,500 Combined total value = 13,976,099,500
Strike 200 has a total call value of 17,087,229,000 versus a total put value of 0 Combined total value = 17,087,229,000
Strike 202.5 has a total call value of 22,033,356,000 versus a total put value of 0 Combined total value = 22,033,356,000
Strike 205 has a total call value of 26,979,483,000 versus a total put value of 0 Combined total value = 26,979,483,000
Strike 207.5 has a total call value of 32,185,521,500 versus a total put value of 0 Combined total value = 32,185,521,500
Strike 210 has a total call value of 37,391,560,000 versus a total put value of 0 Combined total value = 37,391,560,000
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.