NATIONALUM
National Aluminium Co Ltd
Max pain for NATIONALUM
21 Nov 2024 02:21 PM IST
Max Pain for NATIONALUM is 240
Strike 170 has a total call value of 0 versus a total put value of 301,665,937,500 Combined total value = 301,665,937,500
Strike 172.5 has a total call value of 0 versus a total put value of 288,961,875,000 Combined total value = 288,961,875,000
Strike 175 has a total call value of 0 versus a total put value of 276,257,812,500 Combined total value = 276,257,812,500
Strike 177.5 has a total call value of 0 versus a total put value of 263,553,750,000 Combined total value = 263,553,750,000
Strike 180 has a total call value of 0 versus a total put value of 250,849,687,500 Combined total value = 250,849,687,500
Strike 182.5 has a total call value of 0 versus a total put value of 238,331,250,000 Combined total value = 238,331,250,000
Strike 185 has a total call value of 0 versus a total put value of 225,812,812,500 Combined total value = 225,812,812,500
Strike 187.5 has a total call value of 937,500 versus a total put value of 213,322,500,000 Combined total value = 213,323,437,500
Strike 190 has a total call value of 1,875,000 versus a total put value of 200,832,187,500 Combined total value = 200,834,062,500
Strike 192.5 has a total call value of 2,812,500 versus a total put value of 188,580,937,500 Combined total value = 188,583,750,000
Strike 195 has a total call value of 3,750,000 versus a total put value of 176,329,687,500 Combined total value = 176,333,437,500
Strike 197.5 has a total call value of 4,687,500 versus a total put value of 164,142,187,500 Combined total value = 164,146,875,000
Strike 200 has a total call value of 5,625,000 versus a total put value of 151,978,125,000 Combined total value = 151,983,750,000
Strike 202.5 has a total call value of 191,250,000 versus a total put value of 140,414,062,500 Combined total value = 140,605,312,500
Strike 205 has a total call value of 376,875,000 versus a total put value of 128,875,312,500 Combined total value = 129,252,187,500
Strike 207.5 has a total call value of 562,500,000 versus a total put value of 117,501,562,500 Combined total value = 118,064,062,500
Strike 210 has a total call value of 748,125,000 versus a total put value of 106,193,437,500 Combined total value = 106,941,562,500
Strike 212.5 has a total call value of 1,202,812,500 versus a total put value of 95,319,375,000 Combined total value = 96,522,187,500
Strike 215 has a total call value of 1,672,500,000 versus a total put value of 84,512,812,500 Combined total value = 86,185,312,500
Strike 217.5 has a total call value of 2,142,187,500 versus a total put value of 73,992,187,500 Combined total value = 76,134,375,000
Strike 220 has a total call value of 2,644,687,500 versus a total put value of 63,556,875,000 Combined total value = 66,201,562,500
Strike 222.5 has a total call value of 3,667,500,000 versus a total put value of 54,750,937,500 Combined total value = 58,418,437,500
Strike 225 has a total call value of 4,853,437,500 versus a total put value of 46,055,625,000 Combined total value = 50,909,062,500
Strike 227.5 has a total call value of 6,286,875,000 versus a total put value of 38,075,625,000 Combined total value = 44,362,500,000
Strike 230 has a total call value of 7,869,375,000 versus a total put value of 30,298,125,000 Combined total value = 38,167,500,000
Strike 232.5 has a total call value of 10,119,375,000 versus a total put value of 23,784,375,000 Combined total value = 33,903,750,000
Strike 235 has a total call value of 12,578,437,500 versus a total put value of 17,701,875,000 Combined total value = 30,280,312,500
Strike 237.5 has a total call value of 15,581,250,000 versus a total put value of 12,853,125,000 Combined total value = 28,434,375,000
Strike 240 has a total call value of 18,721,875,000 versus a total put value of 8,510,625,000 Combined total value = 27,232,500,000
Strike 242.5 has a total call value of 22,894,687,500 versus a total put value of 5,756,250,000 Combined total value = 28,650,937,500
Strike 245 has a total call value of 27,349,687,500 versus a total put value of 3,312,187,500 Combined total value = 30,661,875,000
Strike 247.5 has a total call value of 32,894,062,500 versus a total put value of 1,881,562,500 Combined total value = 34,775,625,000
Strike 250 has a total call value of 38,672,812,500 versus a total put value of 653,437,500 Combined total value = 39,326,250,000
Strike 252.5 has a total call value of 46,514,062,500 versus a total put value of 393,750,000 Combined total value = 46,907,812,500
Strike 255 has a total call value of 54,630,000,000 versus a total put value of 207,187,500 Combined total value = 54,837,187,500
Strike 257.5 has a total call value of 63,565,312,500 versus a total put value of 120,000,000 Combined total value = 63,685,312,500
Strike 260 has a total call value of 72,672,187,500 versus a total put value of 49,687,500 Combined total value = 72,721,875,000
Strike 262.5 has a total call value of 82,991,250,000 versus a total put value of 35,625,000 Combined total value = 83,026,875,000
Strike 265 has a total call value of 93,432,187,500 versus a total put value of 23,437,500 Combined total value = 93,455,625,000
Strike 267.5 has a total call value of 104,222,812,500 versus a total put value of 13,125,000 Combined total value = 104,235,937,500
Strike 270 has a total call value of 115,054,687,500 versus a total put value of 2,812,500 Combined total value = 115,057,500,000
Strike 272.5 has a total call value of 126,528,750,000 versus a total put value of 0 Combined total value = 126,528,750,000
Strike 275 has a total call value of 138,029,062,500 versus a total put value of 0 Combined total value = 138,029,062,500
Strike 277.5 has a total call value of 149,693,437,500 versus a total put value of 0 Combined total value = 149,693,437,500
Strike 280 has a total call value of 161,358,750,000 versus a total put value of 0 Combined total value = 161,358,750,000
Max-Pain Table for Monthly Expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| AARTIIND | 426.15 | 470 |
| ABB | 6765.35 | 7000 |
| ABBOTINDIA | 27041.25 | 28000 |
| ABCAPITAL | 184.15 | 200 |
| ABFRL | 285.05 | 300 |
| ACC | 2048.75 | 2220 |
| ADANIENT | 2307.45 | 2620 |
| ADANIPORTS | 1143.6 | 1200 |
| ALKEM | 5593.4 | 5500 |
| AMBUJACEM | 497.9 | 540 |
| APOLLOHOSP | 6725.25 | 6900 |
| APOLLOTYRE | 484.15 | 480 |
| ASHOKLEY | 217.88 | 220 |
| ASIANPAINT | 2429.75 | 2540 |
| ASTRAL | 1713.75 | 1780 |
| ATUL | 7269.85 | 7500 |
| AUBANK | 594.25 | 590 |
| AUROPHARMA | 1219.65 | 1300 |
| AXISBANK | 1141.45 | 1150 |
| BAJAJ-AUTO | 9487.1 | 9700 |
| BAJAJFINSV | 1572.8 | 1620 |
| BAJFINANCE | 6479.7 | 6700 |
| BALKRISIND | 2741.1 | 2800 |
| BANDHANBNK | 166.8 | 177.5 |
| BANKBARODA | 229.8 | 240 |
| BATAINDIA | 1281 | 1310 |
| BEL | 274.9 | 285 |
| BERGEPAINT | 467.15 | 495 |
| BHARATFORG | 1299.5 | 1340 |
| BHARTIARTL | 1521.35 | 1540 |
| BHEL | 228.07 | 235 |
| BIOCON | 325 | 330 |
| BOSCHLTD | 34070.3 | 34000 |
| BPCL | 282.45 | 300 |
| BRITANNIA | 4772 | 5000 |
| BSOFT | 545.4 | 560 |
| CANBK | 94.96 | 100 |
| CANFINHOME | 823.4 | 830 |
| CHAMBLFERT | 460.1 | 480 |
| CHOLAFIN | 1210.4 | 1240 |
| CIPLA | 1459.5 | 1520 |
| COALINDIA | 405.4 | 425 |
| COFORGE | 8207.55 | 8000 |
| COLPAL | 2687.7 | 2800 |
| CONCOR | 769.4 | 810 |
| COROMANDEL | 1779.9 | 1720 |
| CROMPTON | 381.75 | 390 |
| CUB | 170.69 | 175 |
| CUMMINSIND | 3295.25 | 3400 |
| DABUR | 504 | 525 |
| DALBHARAT | 1779.2 | 1760 |
| DEEPAKNTR | 2629 | 2650 |
| DIVISLAB | 5954.9 | 5900 |
| DIXON | 15046.85 | 14750 |
| DLF | 778.5 | 780 |
| DRREDDY | 1193 | 1220 |
| EICHERMOT | 4897 | 4900 |
| ESCORTS | 3461.5 | 3600 |
| EXIDEIND | 416.45 | 440 |
| FEDERALBNK | 211.2 | 205 |
| GAIL | 188.87 | 197.5 |
| GLENMARK | 1465.65 | 1520 |
| GMRINFRA | 77.21 | 82 |
| GNFC | 557.4 | 570 |
| GODREJCP | 1181.65 | 1200 |
| GODREJPROP | 2713.8 | 2750 |
| GRANULES | 546.95 | 580 |
| GRASIM | 2551.3 | 2540 |
| GUJGASLTD | 454.4 | 480 |
| HAL | 3998.4 | 4200 |
| HAVELLS | 1634.3 | 1640 |
| HCLTECH | 1831.65 | 1820 |
| HDFCAMC | 4213.95 | 4300 |
| HDFCBANK | 1742.1 | 1740 |
| HDFCLIFE | 674.75 | 680 |
| HEROMOTOCO | 4757.45 | 4800 |
| HINDALCO | 646.7 | 650 |
| HINDCOPPER | 263.7 | 290 |
| HINDPETRO | 360.5 | 375 |
| HINDUNILVR | 2380 | 2480 |
| ICICIBANK | 1253.55 | 1260 |
| ICICIGI | 1816.55 | 1880 |
| ICICIPRULI | 680.5 | 690 |
| IDEA | 6.97 | 8 |
| IDFCFIRSTB | 63.26 | 66 |
| IEX | 161.53 | 170 |
| IGL | 312.15 | 330 |
| INDHOTEL | 791.25 | 760 |
| INDIAMART | 2250 | 2400 |
| INDIGO | 4062.65 | 4000 |
| INDUSINDBK | 975.8 | 1040 |
| INDUSTOWER | 330.5 | 340 |
| INFY | 1828.15 | 1800 |
| IOC | 131.12 | 140 |
| IPCALAB | 1570.2 | 1560 |
| IRCTC | 797.1 | 820 |
| ITC | 456 | 475 |
| JINDALSTEL | 873.95 | 900 |
| JKCEMENT | 4012.6 | 4000 |
| JSWSTEEL | 943.35 | 960 |
| JUBLFOOD | 610.8 | 620 |
| KOTAKBANK | 1735.75 | 1760 |
| LALPATHLAB | 3024.85 | 3100 |
| LAURUSLABS | 489 | 490 |
| LICHSGFIN | 612.25 | 630 |
| LT | 3490 | 3600 |
| LTF | 138.15 | 140 |
| LTIM | 5913.6 | 5900 |
| LTTS | 5179.75 | 5150 |
| LUPIN | 2040.35 | 2100 |
| M&M | 2941.8 | 2900 |
| M&MFIN | 257.35 | 265 |
| MANAPPURAM | 150.83 | 155 |
| MARICO | 590.95 | 600 |
| MARUTI | 10906 | 11000 |
| MCX | 6184.55 | 6200 |
| METROPOLIS | 2014.5 | 2060 |
| MFSL | 1176.1 | 1200 |
| MGL | 1119.7 | 1160 |
| MOTHERSON | 161.86 | 175 |
| MPHASIS | 2779.1 | 2850 |
| MRF | 123205.85 | 122500 |
| MUTHOOTFIN | 1908 | 1880 |
| NATIONALUM | 248.44 | 240 |
| NAUKRI | 7544.65 | 7700 |
| NAVINFLUOR | 3273 | 3400 |
| NESTLEIND | 2203 | 2280 |
| NMDC | 218.7 | 225 |
| NTPC | 355.5 | 370 |
| OBEROIRLTY | 1935.25 | 1960 |
| OFSS | 11148.8 | 11500 |
| ONGC | 242.15 | 250 |
| PAGEIND | 44543.4 | 45500 |
| PEL | 1053.85 | 1060 |
| PERSISTENT | 5730.2 | 5600 |
| PETRONET | 321 | 328 |
| PFC | 453.3 | 460 |
| PIDILITIND | 2946.3 | 3060 |
| PIIND | 4139.9 | 4200 |
| PNB | 96.99 | 102 |
| POLYCAB | 6425.5 | 6500 |
| POWERGRID | 322.2 | 320 |
| PVRINOX | 1445.25 | 1500 |
| RAMCOCEM | 916.6 | 900 |
| RBLBANK | 157.95 | 160 |
| RECLTD | 490.8 | 510 |
| RELIANCE | 1220.05 | 1290 |
| SAIL | 111.36 | 117.5 |
| SBICARD | 674.5 | 690 |
| SBILIFE | 1482.45 | 1520 |
| SBIN | 781.9 | 800 |
| SHREECEM | 24220.05 | 24500 |
| SHRIRAMFIN | 2804.7 | 2900 |
| SIEMENS | 6684.85 | 6800 |
| SRF | 2157.7 | 2260 |
| SUNPHARMA | 1766.5 | 1800 |
| SUNTV | 729.8 | 730 |
| SYNGENE | 845.65 | 870 |
| TATACHEM | 1058.35 | 1100 |
| TATACOMM | 1713.25 | 1780 |
| TATACONSUM | 912.15 | 950 |
| TATAMOTORS | 777.2 | 800 |
| TATAPOWER | 410.55 | 420 |
| TATASTEEL | 140.46 | 145 |
| TCS | 4057.6 | 4100 |
| TECHM | 1698.7 | 1680 |
| TITAN | 3172 | 3200 |
| TORNTPHARM | 3096 | 3150 |
| TRENT | 6430.9 | 6600 |
| TVSMOTOR | 2398.05 | 2450 |
| UBL | 1819.7 | 1880 |
| ULTRACEMCO | 10953.8 | 11000 |
| UNITDSPR | 1491.5 | 1480 |
| UPL | 564.1 | 540 |
| VEDL | 442.9 | 460 |
| VOLTAS | 1672.95 | 1700 |
| WIPRO | 556.55 | 560 |
| ZYDUSLIFE | 942.5 | 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.
