NATIONALUM
NATIONAL ALUMINIUM CO LTD
Max pain for NATIONALUM
18 Apr 2024 06:52 PM IST
Max Pain for NATIONALUM is 175
Strike 115 has a total call value of 0 versus a total put value of 112,950,000,000 Combined total value = 112,950,000,000
Strike 117.5 has a total call value of 0 versus a total put value of 107,248,125,000 Combined total value = 107,248,125,000
Strike 120 has a total call value of 0 versus a total put value of 101,546,250,000 Combined total value = 101,546,250,000
Strike 122.5 has a total call value of 33,750,000 versus a total put value of 95,844,375,000 Combined total value = 95,878,125,000
Strike 125 has a total call value of 67,500,000 versus a total put value of 90,142,500,000 Combined total value = 90,210,000,000
Strike 127.5 has a total call value of 103,125,000 versus a total put value of 84,440,625,000 Combined total value = 84,543,750,000
Strike 130 has a total call value of 138,750,000 versus a total put value of 78,738,750,000 Combined total value = 78,877,500,000
Strike 132.5 has a total call value of 174,375,000 versus a total put value of 73,265,625,000 Combined total value = 73,440,000,000
Strike 135 has a total call value of 210,000,000 versus a total put value of 67,792,500,000 Combined total value = 68,002,500,000
Strike 137.5 has a total call value of 262,500,000 versus a total put value of 62,319,375,000 Combined total value = 62,581,875,000
Strike 140 has a total call value of 315,000,000 versus a total put value of 56,853,750,000 Combined total value = 57,168,750,000
Strike 142.5 has a total call value of 367,500,000 versus a total put value of 51,791,250,000 Combined total value = 52,158,750,000
Strike 145 has a total call value of 433,125,000 versus a total put value of 46,728,750,000 Combined total value = 47,161,875,000
Strike 147.5 has a total call value of 498,750,000 versus a total put value of 41,788,125,000 Combined total value = 42,286,875,000
Strike 150 has a total call value of 590,625,000 versus a total put value of 36,847,500,000 Combined total value = 37,438,125,000
Strike 152.5 has a total call value of 862,500,000 versus a total put value of 32,375,625,000 Combined total value = 33,238,125,000
Strike 155 has a total call value of 1,162,500,000 versus a total put value of 27,984,375,000 Combined total value = 29,146,875,000
Strike 157.5 has a total call value of 1,578,750,000 versus a total put value of 23,979,375,000 Combined total value = 25,558,125,000
Strike 160 has a total call value of 2,032,500,000 versus a total put value of 19,974,375,000 Combined total value = 22,006,875,000
Strike 162.5 has a total call value of 2,805,000,000 versus a total put value of 16,845,000,000 Combined total value = 19,650,000,000
Strike 165 has a total call value of 3,630,000,000 versus a total put value of 13,867,500,000 Combined total value = 17,497,500,000
Strike 167.5 has a total call value of 4,606,875,000 versus a total put value of 11,130,000,000 Combined total value = 15,736,875,000
Strike 170 has a total call value of 5,636,250,000 versus a total put value of 8,392,500,000 Combined total value = 14,028,750,000
Strike 172.5 has a total call value of 7,081,875,000 versus a total put value of 6,298,125,000 Combined total value = 13,380,000,000
Strike 175 has a total call value of 8,574,375,000 versus a total put value of 4,389,375,000 Combined total value = 12,963,750,000
Strike 177.5 has a total call value of 10,614,375,000 versus a total put value of 2,955,000,000 Combined total value = 13,569,375,000
Strike 180 has a total call value of 13,048,125,000 versus a total put value of 1,710,000,000 Combined total value = 14,758,125,000
Strike 182.5 has a total call value of 16,344,375,000 versus a total put value of 997,500,000 Combined total value = 17,341,875,000
Strike 185 has a total call value of 19,948,125,000 versus a total put value of 405,000,000 Combined total value = 20,353,125,000
Strike 187.5 has a total call value of 24,568,125,000 versus a total put value of 191,250,000 Combined total value = 24,759,375,000
Strike 190 has a total call value of 29,385,000,000 versus a total put value of 45,000,000 Combined total value = 29,430,000,000
Strike 192.5 has a total call value of 35,401,875,000 versus a total put value of 26,250,000 Combined total value = 35,428,125,000
Strike 195 has a total call value of 41,540,625,000 versus a total put value of 18,750,000 Combined total value = 41,559,375,000
Strike 197.5 has a total call value of 48,178,125,000 versus a total put value of 11,250,000 Combined total value = 48,189,375,000
Strike 200 has a total call value of 55,057,500,000 versus a total put value of 7,500,000 Combined total value = 55,065,000,000
Strike 202.5 has a total call value of 62,895,000,000 versus a total put value of 3,750,000 Combined total value = 62,898,750,000
Strike 205 has a total call value of 70,732,500,000 versus a total put value of 0 Combined total value = 70,732,500,000
Max Pain - Choose a symbol
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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.