NATURALGAS
Natural Gas
Max pain for NATURALGAS
21 Nov 2024 02:10 PM IST
Max Pain for NATURALGAS is 260
Strike 150 has a total call value of 0 versus a total put value of 945,384,375,000 Combined total value = 945,384,375,000
Strike 155 has a total call value of 0 versus a total put value of 887,843,125,000 Combined total value = 887,843,125,000
Strike 160 has a total call value of 0 versus a total put value of 830,302,500,000 Combined total value = 830,302,500,000
Strike 165 has a total call value of 0 versus a total put value of 772,873,750,000 Combined total value = 772,873,750,000
Strike 170 has a total call value of 0 versus a total put value of 715,446,250,000 Combined total value = 715,446,250,000
Strike 175 has a total call value of 1,875,000 versus a total put value of 658,809,375,000 Combined total value = 658,811,250,000
Strike 180 has a total call value of 3,750,000 versus a total put value of 602,265,000,000 Combined total value = 602,268,750,000
Strike 185 has a total call value of 6,250,000 versus a total put value of 547,280,000,000 Combined total value = 547,286,250,000
Strike 190 has a total call value of 8,750,000 versus a total put value of 492,665,625,000 Combined total value = 492,674,375,000
Strike 195 has a total call value of 59,375,000 versus a total put value of 440,305,000,000 Combined total value = 440,364,375,000
Strike 200 has a total call value of 124,375,000 versus a total put value of 388,686,875,000 Combined total value = 388,811,250,000
Strike 205 has a total call value of 295,000,000 versus a total put value of 342,253,125,000 Combined total value = 342,548,125,000
Strike 210 has a total call value of 483,125,000 versus a total put value of 297,738,750,000 Combined total value = 298,221,875,000
Strike 215 has a total call value of 755,625,000 versus a total put value of 255,970,625,000 Combined total value = 256,726,250,000
Strike 220 has a total call value of 1,067,500,000 versus a total put value of 215,821,250,000 Combined total value = 216,888,750,000
Strike 225 has a total call value of 2,253,125,000 versus a total put value of 178,995,625,000 Combined total value = 181,248,750,000
Strike 230 has a total call value of 3,708,125,000 versus a total put value of 144,391,875,000 Combined total value = 148,100,000,000
Strike 235 has a total call value of 6,011,875,000 versus a total put value of 114,198,750,000 Combined total value = 120,210,625,000
Strike 240 has a total call value of 9,617,500,000 versus a total put value of 86,803,125,000 Combined total value = 96,420,625,000
Strike 245 has a total call value of 15,002,500,000 versus a total put value of 64,689,375,000 Combined total value = 79,691,875,000
Strike 250 has a total call value of 22,511,875,000 versus a total put value of 46,288,125,000 Combined total value = 68,800,000,000
Strike 255 has a total call value of 32,044,375,000 versus a total put value of 32,208,750,000 Combined total value = 64,253,125,000
Strike 260 has a total call value of 42,783,750,000 versus a total put value of 20,891,875,000 Combined total value = 63,675,625,000
Strike 265 has a total call value of 56,345,000,000 versus a total put value of 13,181,250,000 Combined total value = 69,526,250,000
Strike 270 has a total call value of 71,775,625,000 versus a total put value of 6,967,500,000 Combined total value = 78,743,125,000
Strike 275 has a total call value of 90,090,000,000 versus a total put value of 3,306,250,000 Combined total value = 93,396,250,000
Strike 280 has a total call value of 109,488,750,000 versus a total put value of 1,027,500,000 Combined total value = 110,516,250,000
Strike 285 has a total call value of 131,247,500,000 versus a total put value of 410,625,000 Combined total value = 131,658,125,000
Strike 290 has a total call value of 154,583,750,000 versus a total put value of 100,625,000 Combined total value = 154,684,375,000
Strike 295 has a total call value of 179,735,000,000 versus a total put value of 21,250,000 Combined total value = 179,756,250,000
Strike 300 has a total call value of 205,855,000,000 versus a total put value of 0 Combined total value = 205,855,000,000
Strike 305 has a total call value of 234,797,500,000 versus a total put value of 0 Combined total value = 234,797,500,000
Strike 310 has a total call value of 264,226,250,000 versus a total put value of 0 Combined total value = 264,226,250,000
Strike 315 has a total call value of 294,150,625,000 versus a total put value of 0 Combined total value = 294,150,625,000
Strike 320 has a total call value of 324,194,375,000 versus a total put value of 0 Combined total value = 324,194,375,000
Strike 325 has a total call value of 354,781,250,000 versus a total put value of 0 Combined total value = 354,781,250,000
Strike 330 has a total call value of 385,390,000,000 versus a total put value of 0 Combined total value = 385,390,000,000
Strike 335 has a total call value of 416,208,750,000 versus a total put value of 0 Combined total value = 416,208,750,000
Strike 340 has a total call value of 447,033,750,000 versus a total put value of 0 Combined total value = 447,033,750,000
Strike 345 has a total call value of 478,248,750,000 versus a total put value of 0 Combined total value = 478,248,750,000
Strike 350 has a total call value of 509,468,750,000 versus a total put value of 0 Combined total value = 509,468,750,000
Strike 355 has a total call value of 541,333,125,000 versus a total put value of 0 Combined total value = 541,333,125,000
Max-Pain Table for Monthly Expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| AARTIIND | 425 | 470 |
| ABB | 6767 | 7000 |
| ABBOTINDIA | 26968.05 | 28000 |
| ABCAPITAL | 183.99 | 200 |
| ABFRL | 286 | 300 |
| ACC | 2037.5 | 2240 |
| ADANIENT | 2296 | 2640 |
| ADANIPORTS | 1136.05 | 1200 |
| ALKEM | 5563.4 | 5500 |
| AMBUJACEM | 497.5 | 540 |
| APOLLOHOSP | 6723 | 6900 |
| APOLLOTYRE | 483.9 | 480 |
| ASHOKLEY | 217.42 | 220 |
| ASIANPAINT | 2430.05 | 2540 |
| ASTRAL | 1713.1 | 1780 |
| ATUL | 7250.65 | 7500 |
| AUBANK | 594.15 | 590 |
| AUROPHARMA | 1219.5 | 1300 |
| AXISBANK | 1140.9 | 1150 |
| BAJAJ-AUTO | 9487.35 | 9700 |
| BAJAJFINSV | 1573.8 | 1620 |
| BAJFINANCE | 6493.25 | 6700 |
| BALKRISIND | 2739.35 | 2800 |
| BANDHANBNK | 166.73 | 177.5 |
| BANKBARODA | 230 | 240 |
| BATAINDIA | 1280.95 | 1310 |
| BEL | 274.6 | 285 |
| BERGEPAINT | 466.7 | 495 |
| BHARATFORG | 1295.9 | 1340 |
| BHARTIARTL | 1520.05 | 1560 |
| BHEL | 228.03 | 235 |
| BIOCON | 324.55 | 330 |
| BOSCHLTD | 34078.05 | 34000 |
| BPCL | 282.1 | 300 |
| BRITANNIA | 4770.3 | 5000 |
| BSOFT | 545.05 | 560 |
| CANBK | 94.88 | 100 |
| CANFINHOME | 823.25 | 830 |
| CHAMBLFERT | 459.95 | 480 |
| CHOLAFIN | 1211.35 | 1240 |
| CIPLA | 1457.55 | 1520 |
| COALINDIA | 405.45 | 425 |
| COFORGE | 8203.1 | 8000 |
| COLPAL | 2685.4 | 2800 |
| CONCOR | 768.75 | 810 |
| COROMANDEL | 1775.85 | 1720 |
| CROMPTON | 381.65 | 390 |
| CUB | 170.5 | 175 |
| CUMMINSIND | 3291.55 | 3400 |
| DABUR | 505.5 | 525 |
| DALBHARAT | 1775.55 | 1760 |
| DEEPAKNTR | 2625.8 | 2650 |
| DIVISLAB | 5950 | 5900 |
| DIXON | 15038 | 14750 |
| DLF | 776.1 | 780 |
| DRREDDY | 1192.9 | 1220 |
| EICHERMOT | 4908.95 | 4900 |
| ESCORTS | 3462.85 | 3600 |
| EXIDEIND | 416 | 440 |
| FEDERALBNK | 210.74 | 205 |
| GAIL | 188.9 | 197.5 |
| GLENMARK | 1465 | 1520 |
| GMRINFRA | 76.97 | 82 |
| GNFC | 556.2 | 570 |
| GODREJCP | 1180 | 1200 |
| GODREJPROP | 2712.65 | 2750 |
| GRANULES | 545 | 580 |
| GRASIM | 2541 | 2540 |
| GUJGASLTD | 453.35 | 480 |
| HAL | 3993 | 4200 |
| HAVELLS | 1631 | 1640 |
| HCLTECH | 1830.6 | 1820 |
| HDFCAMC | 4210.6 | 4300 |
| HDFCBANK | 1742.5 | 1740 |
| HDFCLIFE | 673.55 | 680 |
| HEROMOTOCO | 4754.8 | 4800 |
| HINDALCO | 647.25 | 650 |
| HINDCOPPER | 263.5 | 290 |
| HINDPETRO | 360.1 | 375 |
| HINDUNILVR | 2380 | 2480 |
| ICICIBANK | 1251.65 | 1260 |
| ICICIGI | 1817.9 | 1880 |
| ICICIPRULI | 680.6 | 690 |
| IDEA | 6.98 | 8 |
| IDFCFIRSTB | 63.23 | 66 |
| IEX | 161.37 | 170 |
| IGL | 311.2 | 330 |
| INDHOTEL | 790.85 | 760 |
| INDIAMART | 2248 | 2400 |
| INDIGO | 4063.15 | 4000 |
| INDUSINDBK | 974.95 | 1040 |
| INDUSTOWER | 330.85 | 340 |
| INFY | 1825.7 | 1800 |
| IOC | 131.07 | 140 |
| IPCALAB | 1567.4 | 1560 |
| IRCTC | 796.75 | 820 |
| ITC | 456.45 | 475 |
| JINDALSTEL | 875 | 900 |
| JKCEMENT | 4005.2 | 4000 |
| JSWSTEEL | 943.3 | 960 |
| JUBLFOOD | 610.85 | 610 |
| KOTAKBANK | 1735.6 | 1760 |
| LALPATHLAB | 3021.3 | 3100 |
| LAURUSLABS | 487.6 | 490 |
| LICHSGFIN | 612.05 | 630 |
| LT | 3490.6 | 3600 |
| LTF | 138.01 | 140 |
| LTIM | 5913.05 | 5900 |
| LTTS | 5160.9 | 5150 |
| LUPIN | 2038.05 | 2100 |
| M&M | 2944.9 | 2900 |
| M&MFIN | 257.3 | 265 |
| MANAPPURAM | 150.9 | 155 |
| MARICO | 590.35 | 600 |
| MARUTI | 10913 | 11000 |
| MCX | 6184.7 | 6200 |
| METROPOLIS | 2010.95 | 2060 |
| MFSL | 1176.05 | 1200 |
| MGL | 1116.25 | 1160 |
| MOTHERSON | 161.8 | 175 |
| MPHASIS | 2770.55 | 2850 |
| MRF | 123030.35 | 122500 |
| MUTHOOTFIN | 1909 | 1880 |
| NATIONALUM | 249.35 | 240 |
| NAUKRI | 7517.65 | 7700 |
| NAVINFLUOR | 3267 | 3400 |
| NESTLEIND | 2204.1 | 2280 |
| NMDC | 218.75 | 225 |
| NTPC | 356.6 | 370 |
| OBEROIRLTY | 1931.7 | 1960 |
| OFSS | 11140 | 11500 |
| ONGC | 242.1 | 254 |
| PAGEIND | 44555.75 | 45500 |
| PEL | 1052.5 | 1060 |
| PERSISTENT | 5730.15 | 5600 |
| PETRONET | 320.85 | 328 |
| PFC | 452.05 | 460 |
| PIDILITIND | 2948.7 | 3060 |
| PIIND | 4128.85 | 4200 |
| PNB | 97.01 | 102 |
| POLYCAB | 6420.05 | 6500 |
| POWERGRID | 322.15 | 320 |
| PVRINOX | 1444.95 | 1500 |
| RAMCOCEM | 918 | 900 |
| RBLBANK | 158.56 | 160 |
| RECLTD | 489.6 | 510 |
| RELIANCE | 1219.2 | 1290 |
| SAIL | 111.46 | 115 |
| SBICARD | 673.55 | 690 |
| SBILIFE | 1483.95 | 1520 |
| SBIN | 782.9 | 800 |
| SHREECEM | 24272.1 | 24500 |
| SHRIRAMFIN | 2803.85 | 2900 |
| SIEMENS | 6678.3 | 6800 |
| SRF | 2155.65 | 2260 |
| SUNPHARMA | 1765.5 | 1800 |
| SUNTV | 727.8 | 730 |
| SYNGENE | 843.95 | 870 |
| TATACHEM | 1057.7 | 1100 |
| TATACOMM | 1712.95 | 1780 |
| TATACONSUM | 911.7 | 950 |
| TATAMOTORS | 778.25 | 800 |
| TATAPOWER | 410.05 | 420 |
| TATASTEEL | 140.6 | 145 |
| TCS | 4056.25 | 4100 |
| TECHM | 1696.75 | 1680 |
| TITAN | 3165.35 | 3200 |
| TORNTPHARM | 3091.7 | 3150 |
| TRENT | 6459.95 | 6600 |
| TVSMOTOR | 2399.15 | 2450 |
| UBL | 1820.4 | 1880 |
| ULTRACEMCO | 10935.45 | 11000 |
| UNITDSPR | 1490.45 | 1480 |
| UPL | 562.5 | 540 |
| VEDL | 442.65 | 460 |
| VOLTAS | 1673.95 | 1700 |
| WIPRO | 556.75 | 560 |
| ZYDUSLIFE | 940.8 | 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.
