NATURALGAS
Natural Gas
Max pain for NATURALGAS
26 Jul 2024 11:40 PM IST
Max Pain for NATURALGAS is 180
Strike 100 has a total call value of 0 versus a total put value of 190,096,250,000 Combined total value = 190,096,250,000
Strike 105 has a total call value of 0 versus a total put value of 176,088,750,000 Combined total value = 176,088,750,000
Strike 110 has a total call value of 0 versus a total put value of 162,081,250,000 Combined total value = 162,081,250,000
Strike 115 has a total call value of 0 versus a total put value of 148,132,500,000 Combined total value = 148,132,500,000
Strike 120 has a total call value of 0 versus a total put value of 134,183,750,000 Combined total value = 134,183,750,000
Strike 125 has a total call value of 0 versus a total put value of 120,486,875,000 Combined total value = 120,486,875,000
Strike 130 has a total call value of 0 versus a total put value of 106,791,250,000 Combined total value = 106,791,250,000
Strike 135 has a total call value of 0 versus a total put value of 93,994,375,000 Combined total value = 93,994,375,000
Strike 140 has a total call value of 0 versus a total put value of 81,197,500,000 Combined total value = 81,197,500,000
Strike 145 has a total call value of 0 versus a total put value of 69,405,625,000 Combined total value = 69,405,625,000
Strike 150 has a total call value of 0 versus a total put value of 57,778,125,000 Combined total value = 57,778,125,000
Strike 155 has a total call value of 120,625,000 versus a total put value of 48,016,875,000 Combined total value = 48,137,500,000
Strike 160 has a total call value of 241,250,000 versus a total put value of 38,433,125,000 Combined total value = 38,674,375,000
Strike 165 has a total call value of 491,875,000 versus a total put value of 30,172,500,000 Combined total value = 30,664,375,000
Strike 170 has a total call value of 771,875,000 versus a total put value of 22,324,375,000 Combined total value = 23,096,250,000
Strike 175 has a total call value of 2,330,625,000 versus a total put value of 16,386,875,000 Combined total value = 18,717,500,000
Strike 180 has a total call value of 5,381,250,000 versus a total put value of 11,126,250,000 Combined total value = 16,507,500,000
Strike 185 has a total call value of 12,291,875,000 versus a total put value of 7,946,250,000 Combined total value = 20,238,125,000
Strike 190 has a total call value of 20,754,375,000 versus a total put value of 5,321,875,000 Combined total value = 26,076,250,000
Strike 195 has a total call value of 32,522,500,000 versus a total put value of 3,778,125,000 Combined total value = 36,300,625,000
Strike 200 has a total call value of 44,656,875,000 versus a total put value of 2,247,500,000 Combined total value = 46,904,375,000
Strike 205 has a total call value of 60,282,500,000 versus a total put value of 1,566,875,000 Combined total value = 61,849,375,000
Strike 210 has a total call value of 76,240,000,000 versus a total put value of 892,500,000 Combined total value = 77,132,500,000
Strike 215 has a total call value of 93,565,000,000 versus a total put value of 446,250,000 Combined total value = 94,011,250,000
Strike 220 has a total call value of 111,052,500,000 versus a total put value of 0 Combined total value = 111,052,500,000
Strike 225 has a total call value of 130,450,625,000 versus a total put value of 0 Combined total value = 130,450,625,000
Strike 230 has a total call value of 149,923,125,000 versus a total put value of 0 Combined total value = 149,923,125,000
Strike 235 has a total call value of 170,201,250,000 versus a total put value of 0 Combined total value = 170,201,250,000
Strike 240 has a total call value of 190,490,625,000 versus a total put value of 0 Combined total value = 190,490,625,000
Strike 245 has a total call value of 211,574,375,000 versus a total put value of 0 Combined total value = 211,574,375,000
Strike 250 has a total call value of 232,675,625,000 versus a total put value of 0 Combined total value = 232,675,625,000
Strike 255 has a total call value of 254,853,750,000 versus a total put value of 0 Combined total value = 254,853,750,000
Strike 260 has a total call value of 277,031,875,000 versus a total put value of 0 Combined total value = 277,031,875,000
Strike 265 has a total call value of 299,335,000,000 versus a total put value of 0 Combined total value = 299,335,000,000
Strike 270 has a total call value of 321,638,125,000 versus a total put value of 0 Combined total value = 321,638,125,000
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.