NATURALGAS
Natural Gas
Max pain for NATURALGAS
21 Mar 2025 12:54 PM IST
Max Pain for NATURALGAS is 350
Strike 180 has a total call value of 0 versus a total put value of 1,769,423,125,000 Combined total value = 1,769,423,125,000
Strike 185 has a total call value of 0 versus a total put value of 1,707,495,000,000 Combined total value = 1,707,495,000,000
Strike 190 has a total call value of 0 versus a total put value of 1,645,566,875,000 Combined total value = 1,645,566,875,000
Strike 195 has a total call value of 0 versus a total put value of 1,583,638,750,000 Combined total value = 1,583,638,750,000
Strike 200 has a total call value of 0 versus a total put value of 1,521,710,625,000 Combined total value = 1,521,710,625,000
Strike 205 has a total call value of 0 versus a total put value of 1,460,278,125,000 Combined total value = 1,460,278,125,000
Strike 210 has a total call value of 0 versus a total put value of 1,398,845,625,000 Combined total value = 1,398,845,625,000
Strike 215 has a total call value of 0 versus a total put value of 1,337,461,250,000 Combined total value = 1,337,461,250,000
Strike 220 has a total call value of 0 versus a total put value of 1,276,076,875,000 Combined total value = 1,276,076,875,000
Strike 225 has a total call value of 0 versus a total put value of 1,214,692,500,000 Combined total value = 1,214,692,500,000
Strike 230 has a total call value of 0 versus a total put value of 1,153,308,125,000 Combined total value = 1,153,308,125,000
Strike 235 has a total call value of 0 versus a total put value of 1,091,923,750,000 Combined total value = 1,091,923,750,000
Strike 240 has a total call value of 0 versus a total put value of 1,030,539,375,000 Combined total value = 1,030,539,375,000
Strike 245 has a total call value of 0 versus a total put value of 970,158,125,000 Combined total value = 970,158,125,000
Strike 250 has a total call value of 0 versus a total put value of 909,776,875,000 Combined total value = 909,776,875,000
Strike 255 has a total call value of 0 versus a total put value of 851,563,750,000 Combined total value = 851,563,750,000
Strike 260 has a total call value of 0 versus a total put value of 793,468,750,000 Combined total value = 793,468,750,000
Strike 265 has a total call value of 0 versus a total put value of 736,145,000,000 Combined total value = 736,145,000,000
Strike 270 has a total call value of 0 versus a total put value of 678,821,250,000 Combined total value = 678,821,250,000
Strike 275 has a total call value of 0 versus a total put value of 622,851,250,000 Combined total value = 622,851,250,000
Strike 280 has a total call value of 0 versus a total put value of 567,227,500,000 Combined total value = 567,227,500,000
Strike 285 has a total call value of 0 versus a total put value of 513,423,125,000 Combined total value = 513,423,125,000
Strike 290 has a total call value of 0 versus a total put value of 459,875,625,000 Combined total value = 459,875,625,000
Strike 295 has a total call value of 30,000,000 versus a total put value of 408,797,500,000 Combined total value = 408,827,500,000
Strike 300 has a total call value of 60,000,000 versus a total put value of 358,163,750,000 Combined total value = 358,223,750,000
Strike 305 has a total call value of 251,875,000 versus a total put value of 316,406,875,000 Combined total value = 316,658,750,000
Strike 310 has a total call value of 443,750,000 versus a total put value of 275,797,500,000 Combined total value = 276,241,250,000
Strike 315 has a total call value of 670,625,000 versus a total put value of 237,854,375,000 Combined total value = 238,525,000,000
Strike 320 has a total call value of 908,125,000 versus a total put value of 200,953,750,000 Combined total value = 201,861,875,000
Strike 325 has a total call value of 1,366,875,000 versus a total put value of 168,251,250,000 Combined total value = 169,618,125,000
Strike 330 has a total call value of 1,936,875,000 versus a total put value of 136,625,625,000 Combined total value = 138,562,500,000
Strike 335 has a total call value of 3,670,625,000 versus a total put value of 110,708,125,000 Combined total value = 114,378,750,000
Strike 340 has a total call value of 6,240,000,000 versus a total put value of 87,348,750,000 Combined total value = 93,588,750,000
Strike 345 has a total call value of 12,262,500,000 versus a total put value of 68,738,125,000 Combined total value = 81,000,625,000
Strike 350 has a total call value of 20,366,875,000 versus a total put value of 51,221,250,000 Combined total value = 71,588,125,000
Strike 355 has a total call value of 36,795,000,000 versus a total put value of 36,944,375,000 Combined total value = 73,739,375,000
Strike 360 has a total call value of 56,157,500,000 versus a total put value of 24,060,625,000 Combined total value = 80,218,125,000
Strike 365 has a total call value of 84,061,250,000 versus a total put value of 15,898,125,000 Combined total value = 99,959,375,000
Strike 370 has a total call value of 117,005,625,000 versus a total put value of 10,089,375,000 Combined total value = 127,095,000,000
Strike 375 has a total call value of 156,220,000,000 versus a total put value of 7,020,625,000 Combined total value = 163,240,625,000
Strike 380 has a total call value of 198,152,500,000 versus a total put value of 4,446,875,000 Combined total value = 202,599,375,000
Strike 385 has a total call value of 245,871,875,000 versus a total put value of 3,097,500,000 Combined total value = 248,969,375,000
Strike 390 has a total call value of 295,819,375,000 versus a total put value of 1,923,125,000 Combined total value = 297,742,500,000
Strike 395 has a total call value of 350,056,250,000 versus a total put value of 1,038,125,000 Combined total value = 351,094,375,000
Strike 400 has a total call value of 405,812,500,000 versus a total put value of 337,500,000 Combined total value = 406,150,000,000
Strike 405 has a total call value of 468,371,250,000 versus a total put value of 105,000,000 Combined total value = 468,476,250,000
Strike 410 has a total call value of 532,011,875,000 versus a total put value of 70,000,000 Combined total value = 532,081,875,000
Strike 415 has a total call value of 598,660,625,000 versus a total put value of 35,000,000 Combined total value = 598,695,625,000
Strike 420 has a total call value of 666,392,500,000 versus a total put value of 0 Combined total value = 666,392,500,000
Strike 425 has a total call value of 736,541,875,000 versus a total put value of 0 Combined total value = 736,541,875,000
Strike 430 has a total call value of 807,538,125,000 versus a total put value of 0 Combined total value = 807,538,125,000
Strike 435 has a total call value of 881,152,500,000 versus a total put value of 0 Combined total value = 881,152,500,000
Strike 440 has a total call value of 955,570,625,000 versus a total put value of 0 Combined total value = 955,570,625,000
Strike 445 has a total call value of 1,033,296,250,000 versus a total put value of 0 Combined total value = 1,033,296,250,000
Strike 450 has a total call value of 1,111,593,125,000 versus a total put value of 0 Combined total value = 1,111,593,125,000
Strike 455 has a total call value of 1,193,145,000,000 versus a total put value of 0 Combined total value = 1,193,145,000,000
Strike 460 has a total call value of 1,275,640,625,000 versus a total put value of 0 Combined total value = 1,275,640,625,000
Strike 465 has a total call value of 1,365,128,750,000 versus a total put value of 0 Combined total value = 1,365,128,750,000
Strike 470 has a total call value of 1,454,908,750,000 versus a total put value of 0 Combined total value = 1,454,908,750,000
Max-Pain Table for stock monthly expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| AARTIIND | 407.4 | 400 |
| ABB | 5527.45 | 5400 |
| ABCAPITAL | 184.15 | 175 |
| ABFRL | 254.89 | 250 |
| ACC | 1914.6 | 1920 |
| ADANIENSOL | 838.55 | 780 |
| ADANIENT | 2380.55 | 2380 |
| ADANIGREEN | 958.5 | 900 |
| ADANIPORTS | 1196.95 | 1160 |
| ALKEM | 4990 | 4800 |
| AMBUJACEM | 512.5 | 510 |
| ANGELONE | 2327.05 | 2100 |
| APLAPOLLO | 1502.5 | 1460 |
| APOLLOHOSP | 6619 | 6450 |
| APOLLOTYRE | 426.25 | 420 |
| ASHOKLEY | 210.4 | 210 |
| ASIANPAINT | 2309 | 2260 |
| ASTRAL | 1291 | 1300 |
| ATGL | 628.5 | 600 |
| AUBANK | 535.65 | 525 |
| AUROPHARMA | 1192.85 | 1160 |
| AXISBANK | 1067.1 | 1040 |
| BAJAJ-AUTO | 8058.65 | 7900 |
| BAJAJFINSV | 1838.65 | 1840 |
| BAJFINANCE | 8947.95 | 8700 |
| BALKRISIND | 2613.95 | 2580 |
| BANDHANBNK | 143.9 | 145 |
| BANKBARODA | 216.38 | 215 |
| BANKINDIA | 104.7 | 100 |
| BEL | 297.64 | 285 |
| BERGEPAINT | 500.35 | 500 |
| BHARATFORG | 1177.05 | 1120 |
| BHARTIARTL | 1709.2 | 1680 |
| BHEL | 212.47 | 205 |
| BIOCON | 345.7 | 330 |
| BOSCHLTD | 27763.45 | 28000 |
| BPCL | 280.9 | 270 |
| BRITANNIA | 4823.9 | 4750 |
| BSE | 4653.1 | 4500 |
| BSOFT | 408.6 | 410 |
| CAMS | 3832.5 | 3600 |
| CANBK | 87.75 | 86 |
| CDSL | 1215.95 | 1160 |
| CESC | 150.18 | 145 |
| CGPOWER | 641.15 | 620 |
| CHAMBLFERT | 594.85 | 580 |
| CHOLAFIN | 1534.15 | 1480 |
| CIPLA | 1524.2 | 1480 |
| COALINDIA | 406.7 | 395 |
| COFORGE | 7783.05 | 7500 |
| COLPAL | 2392.6 | 2460 |
| CONCOR | 693.2 | 680 |
| CROMPTON | 365 | 355 |
| CUMMINSIND | 2971.3 | 2900 |
| CYIENT | 1334 | 1260 |
| DABUR | 506.65 | 500 |
| DALBHARAT | 1710 | 1700 |
| DEEPAKNTR | 2038 | 1950 |
| DELHIVERY | 265 | 260 |
| DIVISLAB | 5814.45 | 5750 |
| DIXON | 14065.75 | 13750 |
| DLF | 703.5 | 690 |
| DMART | 3935.05 | 3800 |
| DRREDDY | 1198 | 1150 |
| EICHERMOT | 5309.2 | 5100 |
| ESCORTS | 3194.4 | 3100 |
| EXIDEIND | 360.65 | 360 |
| FEDERALBNK | 187.14 | 185 |
| GAIL | 175.24 | 170 |
| GLENMARK | 1505.3 | 1440 |
| GMRAIRPORT | 77.4 | 75 |
| GODREJCP | 1113.4 | 1070 |
| GODREJPROP | 2163.75 | 2100 |
| GRANULES | 505.35 | 500 |
| GRASIM | 2510.8 | 2420 |
| HAL | 3898 | 3700 |
| HAVELLS | 1492.55 | 1500 |
| HCLTECH | 1590 | 1580 |
| HDFCAMC | 3988.8 | 3900 |
| HDFCBANK | 1765.7 | 1760 |
| HDFCLIFE | 675.3 | 640 |
| HEROMOTOCO | 3656.4 | 3650 |
| HFCL | 83.68 | 82.5 |
| HINDALCO | 701.7 | 680 |
| HINDCOPPER | 231.5 | 220 |
| HINDPETRO | 349.45 | 330 |
| HINDUNILVR | 2250.1 | 2260 |
| HUDCO | 203.22 | 195 |
| ICICIBANK | 1344.7 | 1300 |
| ICICIGI | 1717.25 | 1700 |
| ICICIPRULI | 580 | 570 |
| IDEA | 7.51 | 8 |
| IDFCFIRSTB | 56.09 | 57 |
| IEX | 171.61 | 167.5 |
| IGL | 197.68 | 192.5 |
| IIFL | 332.8 | 320 |
| INDHOTEL | 824.5 | 790 |
| INDIANB | 539.3 | 510 |
| INDIGO | 5062.5 | 4900 |
| INDUSINDBK | 674.95 | 750 |
| INDUSTOWER | 345.85 | 340 |
| INFY | 1598.1 | 1620 |
| IOC | 131.73 | 127.5 |
| IRB | 47.03 | 45 |
| IRCTC | 723.6 | 720 |
| IREDA | 154.9 | 145 |
| IRFC | 129.54 | 125 |
| ITC | 404.3 | 405 |
| JINDALSTEL | 917.45 | 900 |
| JIOFIN | 230 | 225 |
| JKCEMENT | 4841.85 | 4550 |
| JSL | 633.9 | 640 |
| JSWENERGY | 561.6 | 530 |
| JSWSTEEL | 1057.9 | 1030 |
| JUBLFOOD | 628.8 | 630 |
| KALYANKJIL | 476.35 | 440 |
| KEI | 2893.55 | 2900 |
| KOTAKBANK | 2082.05 | 2020 |
| KPITTECH | 1311.15 | 1280 |
| LAURUSLABS | 614.85 | 580 |
| LICHSGFIN | 569.1 | 540 |
| LICI | 790.45 | 780 |
| LODHA | 1175.3 | 1160 |
| LT | 3436 | 3300 |
| LTF | 154.84 | 150 |
| LTIM | 4515 | 4500 |
| LTTS | 4681.4 | 4600 |
| LUPIN | 2094.05 | 2040 |
| M&M | 2870 | 2750 |
| M&MFIN | 287.9 | 280 |
| MANAPPURAM | 239.25 | 205 |
| MARICO | 632.55 | 620 |
| MARUTI | 11899.8 | 11800 |
| MAXHEALTH | 1179.2 | 1140 |
| MCX | 5465.95 | 5300 |
| MFSL | 1133.45 | 1100 |
| MGL | 1374.6 | 1340 |
| MOTHERSON | 132.42 | 130 |
| MPHASIS | 2406 | 2350 |
| MRF | 112408.2 | 109000 |
| MUTHOOTFIN | 2359.95 | 2340 |
| NATIONALUM | 184.85 | 190 |
| NAUKRI | 6927.5 | 6800 |
| NBCC | 83.7 | 80 |
| NCC | 203.99 | 195 |
| NESTLEIND | 2272.3 | 2240 |
| NHPC | 83.89 | 80 |
| NMDC | 67.12 | 68 |
| NTPC | 350.65 | 340 |
| NYKAA | 174.15 | 170 |
| OBEROIRLTY | 1656.4 | 1600 |
| OFSS | 7658 | 7750 |
| OIL | 395.5 | 380 |
| ONGC | 241.14 | 232.5 |
| PAGEIND | 41843.2 | 41000 |
| PATANJALI | 1756.55 | 1740 |
| PAYTM | 751.3 | 720 |
| PEL | 986.9 | 960 |
| PERSISTENT | 5294.95 | 5300 |
| PETRONET | 301.2 | 295 |
| PFC | 409.65 | 400 |
| PHOENIXLTD | 1672.4 | 1600 |
| PIDILITIND | 2828.9 | 2760 |
| PIIND | 3472.35 | 3300 |
| PNB | 92.59 | 91 |
| POLICYBZR | 1579.95 | 1500 |
| POLYCAB | 5061 | 5000 |
| POONAWALLA | 331.15 | 300 |
| POWERGRID | 283.9 | 275 |
| PRESTIGE | 1236.6 | 1150 |
| RAMCOCEM | 850.15 | 840 |
| RBLBANK | 167.62 | 165 |
| RECLTD | 435.15 | 420 |
| RELIANCE | 1279.75 | 1250 |
| SAIL | 115.41 | 110 |
| SBICARD | 856.05 | 845 |
| SBILIFE | 1537.95 | 1480 |
| SBIN | 752.55 | 740 |
| SHREECEM | 29298.35 | 28250 |
| SHRIRAMFIN | 672.1 | 650 |
| SIEMENS | 5296.05 | 5000 |
| SJVN | 95.05 | 90 |
| SOLARINDS | 10495 | 10000 |
| SONACOMS | 510.65 | 500 |
| SRF | 3030 | 2900 |
| SUNPHARMA | 1779 | 1680 |
| SUPREMEIND | 3440.65 | 3500 |
| SYNGENE | 707.7 | 700 |
| TATACHEM | 852 | 840 |
| TATACOMM | 1616.65 | 1540 |
| TATACONSUM | 968.6 | 970 |
| TATAELXSI | 5487.35 | 5400 |
| TATAMOTORS | 702.7 | 680 |
| TATAPOWER | 376.7 | 375 |
| TATASTEEL | 158.61 | 153 |
| TATATECH | 698.9 | 670 |
| TCS | 3606.6 | 3600 |
| TECHM | 1419.05 | 1440 |
| TIINDIA | 2887.5 | 2800 |
| TITAGARH | 788.85 | 740 |
| TITAN | 3176.9 | 3150 |
| TORNTPHARM | 3264.5 | 3150 |
| TORNTPOWER | 1496.7 | 1400 |
| TRENT | 5193 | 5100 |
| TVSMOTOR | 2439.05 | 2360 |
| ULTRACEMCO | 11016.55 | 10600 |
| UNIONBANK | 120.05 | 119 |
| UNITDSPR | 1395.25 | 1320 |
| UPL | 666.5 | 640 |
| USDINR | 86.135 | 77.25 |
| VBL | 547.5 | 520 |
| VEDL | 466 | 450 |
| VOLTAS | 1429.5 | 1420 |
| WIPRO | 268.6 | 270 |
| YESBANK | 17.06 | 17 |
| ZOMATO | 225.68 | 220 |
| ZYDUSLIFE | 925.65 | 900 |
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.
