M&M
Mahindra & Mahindra Ltd
Max pain for M&M
21 Nov 2024 02:02 PM IST
Max Pain for M&M is 2900
Strike 2300 has a total call value of 0 versus a total put value of 219,209,375,000 Combined total value = 219,209,375,000
Strike 2350 has a total call value of 0 versus a total put value of 195,276,375,000 Combined total value = 195,276,375,000
Strike 2400 has a total call value of 0 versus a total put value of 171,563,000,000 Combined total value = 171,563,000,000
Strike 2450 has a total call value of 0 versus a total put value of 148,846,250,000 Combined total value = 148,846,250,000
Strike 2500 has a total call value of 0 versus a total put value of 126,273,000,000 Combined total value = 126,273,000,000
Strike 2550 has a total call value of 116,375,000 versus a total put value of 105,872,375,000 Combined total value = 105,988,750,000
Strike 2600 has a total call value of 232,750,000 versus a total put value of 85,957,375,000 Combined total value = 86,190,125,000
Strike 2650 has a total call value of 686,000,000 versus a total put value of 68,119,625,000 Combined total value = 68,805,625,000
Strike 2700 has a total call value of 1,300,250,000 versus a total put value of 51,339,750,000 Combined total value = 52,640,000,000
Strike 2750 has a total call value of 2,582,125,000 versus a total put value of 37,305,625,000 Combined total value = 39,887,750,000
Strike 2800 has a total call value of 4,606,000,000 versus a total put value of 24,972,500,000 Combined total value = 29,578,500,000
Strike 2850 has a total call value of 8,056,125,000 versus a total put value of 16,528,750,000 Combined total value = 24,584,875,000
Strike 2900 has a total call value of 12,242,125,000 versus a total put value of 9,839,375,000 Combined total value = 22,081,500,000
Strike 2950 has a total call value of 19,959,625,000 versus a total put value of 5,749,625,000 Combined total value = 25,709,250,000
Strike 3000 has a total call value of 30,464,000,000 versus a total put value of 2,996,875,000 Combined total value = 33,460,875,000
Strike 3050 has a total call value of 48,134,625,000 versus a total put value of 1,683,500,000 Combined total value = 49,818,125,000
Strike 3100 has a total call value of 68,164,250,000 versus a total put value of 719,250,000 Combined total value = 68,883,500,000
Strike 3150 has a total call value of 91,195,125,000 versus a total put value of 396,375,000 Combined total value = 91,591,500,000
Strike 3200 has a total call value of 115,374,875,000 versus a total put value of 133,000,000 Combined total value = 115,507,875,000
Strike 3250 has a total call value of 142,460,500,000 versus a total put value of 66,500,000 Combined total value = 142,527,000,000
Strike 3300 has a total call value of 170,357,250,000 versus a total put value of 0 Combined total value = 170,357,250,000
Strike 3350 has a total call value of 200,247,250,000 versus a total put value of 0 Combined total value = 200,247,250,000
Strike 3400 has a total call value of 230,527,500,000 versus a total put value of 0 Combined total value = 230,527,500,000
Strike 3450 has a total call value of 261,786,875,000 versus a total put value of 0 Combined total value = 261,786,875,000
Strike 3500 has a total call value of 293,088,250,000 versus a total put value of 0 Combined total value = 293,088,250,000
Strike 3550 has a total call value of 325,083,500,000 versus a total put value of 0 Combined total value = 325,083,500,000
Strike 3600 has a total call value of 357,078,750,000 versus a total put value of 0 Combined total value = 357,078,750,000
Max-Pain Table for Monthly Expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| AARTIIND | 425.95 | 470 |
| ABB | 6784.65 | 7000 |
| ABBOTINDIA | 26970 | 28000 |
| ABCAPITAL | 184.5 | 200 |
| ABFRL | 286.5 | 300 |
| ACC | 2039.55 | 2240 |
| ADANIENT | 2344.95 | 2640 |
| ADANIPORTS | 1144.7 | 1200 |
| ALKEM | 5555.15 | 5500 |
| AMBUJACEM | 498.4 | 540 |
| APOLLOHOSP | 6725.95 | 6900 |
| APOLLOTYRE | 484.4 | 480 |
| ASHOKLEY | 217.98 | 220 |
| ASIANPAINT | 2430.55 | 2540 |
| ASTRAL | 1713.75 | 1780 |
| ATUL | 7255.85 | 7500 |
| AUBANK | 594.1 | 590 |
| AUROPHARMA | 1221.1 | 1300 |
| AXISBANK | 1142.35 | 1150 |
| BAJAJ-AUTO | 9493.65 | 9700 |
| BAJAJFINSV | 1575.8 | 1620 |
| BAJFINANCE | 6490.05 | 6700 |
| BALKRISIND | 2741.3 | 2800 |
| BANDHANBNK | 166.9 | 177.5 |
| BANKBARODA | 230 | 240 |
| BATAINDIA | 1280 | 1310 |
| BEL | 275.9 | 285 |
| BERGEPAINT | 466.5 | 495 |
| BHARATFORG | 1306 | 1340 |
| BHARTIARTL | 1519.05 | 1560 |
| BHEL | 227.89 | 235 |
| BIOCON | 325 | 330 |
| BOSCHLTD | 34093.8 | 34000 |
| BPCL | 282.55 | 300 |
| BRITANNIA | 4764.95 | 5000 |
| BSOFT | 545.35 | 560 |
| CANBK | 95.06 | 100 |
| CANFINHOME | 823 | 830 |
| CHAMBLFERT | 460.15 | 480 |
| CHOLAFIN | 1215.1 | 1240 |
| CIPLA | 1456 | 1520 |
| COALINDIA | 405.7 | 425 |
| COFORGE | 8208.5 | 8000 |
| COLPAL | 2681.95 | 2800 |
| CONCOR | 771.45 | 810 |
| COROMANDEL | 1776.65 | 1720 |
| CROMPTON | 382.6 | 390 |
| CUB | 170.95 | 175 |
| CUMMINSIND | 3293.1 | 3400 |
| DABUR | 506.9 | 525 |
| DALBHARAT | 1774.85 | 1760 |
| DEEPAKNTR | 2628.2 | 2650 |
| DIVISLAB | 5953.95 | 5900 |
| DIXON | 15069.95 | 14750 |
| DLF | 778.45 | 780 |
| DRREDDY | 1193.7 | 1220 |
| EICHERMOT | 4909.7 | 4900 |
| ESCORTS | 3457.05 | 3600 |
| EXIDEIND | 416.4 | 440 |
| FEDERALBNK | 211.04 | 205 |
| GAIL | 189.74 | 197.5 |
| GLENMARK | 1461.85 | 1520 |
| GMRINFRA | 77.04 | 82 |
| GNFC | 557.25 | 570 |
| GODREJCP | 1180.5 | 1200 |
| GODREJPROP | 2718.1 | 2750 |
| GRANULES | 545 | 580 |
| GRASIM | 2532.05 | 2540 |
| GUJGASLTD | 454.9 | 480 |
| HAL | 3999.5 | 4200 |
| HAVELLS | 1631.2 | 1640 |
| HCLTECH | 1829 | 1820 |
| HDFCAMC | 4213.2 | 4300 |
| HDFCBANK | 1742.85 | 1740 |
| HDFCLIFE | 673.1 | 680 |
| HEROMOTOCO | 4755.2 | 4800 |
| HINDALCO | 646.8 | 650 |
| HINDCOPPER | 263.75 | 290 |
| HINDPETRO | 360.85 | 375 |
| HINDUNILVR | 2379.25 | 2480 |
| ICICIBANK | 1250.55 | 1260 |
| ICICIGI | 1816.85 | 1880 |
| ICICIPRULI | 681.25 | 690 |
| IDEA | 6.99 | 8 |
| IDFCFIRSTB | 63.25 | 66 |
| IEX | 161.7 | 170 |
| IGL | 312.25 | 330 |
| INDHOTEL | 791.3 | 760 |
| INDIAMART | 2250 | 2400 |
| INDIGO | 4061.45 | 4000 |
| INDUSINDBK | 975.7 | 1040 |
| INDUSTOWER | 331.75 | 340 |
| INFY | 1826.65 | 1800 |
| IOC | 131.22 | 140 |
| IPCALAB | 1567 | 1560 |
| IRCTC | 798.2 | 820 |
| ITC | 456.6 | 475 |
| JINDALSTEL | 875 | 900 |
| JKCEMENT | 4008.45 | 4000 |
| JSWSTEEL | 942.4 | 960 |
| JUBLFOOD | 611.6 | 610 |
| KOTAKBANK | 1734.8 | 1760 |
| LALPATHLAB | 3018.7 | 3100 |
| LAURUSLABS | 488.4 | 490 |
| LICHSGFIN | 613.5 | 630 |
| LT | 3492.9 | 3600 |
| LTF | 138.17 | 140 |
| LTIM | 5914.15 | 5900 |
| LTTS | 5163.6 | 5150 |
| LUPIN | 2038.25 | 2100 |
| M&M | 2940.55 | 2900 |
| M&MFIN | 257.75 | 265 |
| MANAPPURAM | 151.19 | 155 |
| MARICO | 589 | 600 |
| MARUTI | 10906.75 | 11000 |
| MCX | 6199 | 6200 |
| METROPOLIS | 2011.95 | 2060 |
| MFSL | 1176.45 | 1200 |
| MGL | 1121.2 | 1160 |
| MOTHERSON | 161.97 | 175 |
| MPHASIS | 2772.9 | 2850 |
| MRF | 123150.7 | 122500 |
| MUTHOOTFIN | 1909 | 1880 |
| NATIONALUM | 248.94 | 240 |
| NAUKRI | 7531.55 | 7700 |
| NAVINFLUOR | 3276.4 | 3400 |
| NESTLEIND | 2205 | 2280 |
| NMDC | 218.94 | 225 |
| NTPC | 357.35 | 370 |
| OBEROIRLTY | 1933 | 1960 |
| OFSS | 11143.75 | 11500 |
| ONGC | 242.45 | 254 |
| PAGEIND | 44615.15 | 45500 |
| PEL | 1054.85 | 1060 |
| PERSISTENT | 5727.6 | 5600 |
| PETRONET | 321.25 | 328 |
| PFC | 454.25 | 460 |
| PIDILITIND | 2951.45 | 3060 |
| PIIND | 4128.4 | 4200 |
| PNB | 97 | 102 |
| POLYCAB | 6435.95 | 6500 |
| POWERGRID | 322.4 | 320 |
| PVRINOX | 1445.7 | 1500 |
| RAMCOCEM | 918.65 | 900 |
| RBLBANK | 158.83 | 160 |
| RECLTD | 491.7 | 510 |
| RELIANCE | 1219.8 | 1290 |
| SAIL | 111.6 | 115 |
| SBICARD | 673.9 | 690 |
| SBILIFE | 1482.5 | 1520 |
| SBIN | 783.65 | 800 |
| SHREECEM | 24291.4 | 24500 |
| SHRIRAMFIN | 2808.25 | 2900 |
| SIEMENS | 6690 | 6800 |
| SRF | 2158.45 | 2260 |
| SUNPHARMA | 1764.1 | 1800 |
| SUNTV | 727.25 | 730 |
| SYNGENE | 845.5 | 870 |
| TATACHEM | 1059 | 1100 |
| TATACOMM | 1714 | 1780 |
| TATACONSUM | 910.4 | 950 |
| TATAMOTORS | 778.1 | 800 |
| TATAPOWER | 410.5 | 420 |
| TATASTEEL | 140.65 | 145 |
| TCS | 4050 | 4100 |
| TECHM | 1696.5 | 1680 |
| TITAN | 3165.45 | 3200 |
| TORNTPHARM | 3095.5 | 3150 |
| TRENT | 6453.9 | 6600 |
| TVSMOTOR | 2401.1 | 2450 |
| UBL | 1821.4 | 1880 |
| ULTRACEMCO | 10940.5 | 11000 |
| UNITDSPR | 1492 | 1480 |
| UPL | 562.55 | 540 |
| VEDL | 443.05 | 460 |
| VOLTAS | 1674.7 | 1700 |
| WIPRO | 556.85 | 560 |
| ZYDUSLIFE | 940.7 | 960 |
Note:
| Stock LTP > Max Pain | Bearish Trend |
| Stock LTP < Max Pain | Bullish Trend |
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.
