NATURALGAS
Natural Gas
Max pain for NATURALGAS
29 Oct 2024 09:20 PM IST
Max Pain for NATURALGAS is 240
Strike 170 has a total call value of 0 versus a total put value of 171,989,375,000 Combined total value = 171,989,375,000
Strike 175 has a total call value of 0 versus a total put value of 154,258,125,000 Combined total value = 154,258,125,000
Strike 180 has a total call value of 0 versus a total put value of 136,526,875,000 Combined total value = 136,526,875,000
Strike 185 has a total call value of 625,000 versus a total put value of 119,838,750,000 Combined total value = 119,839,375,000
Strike 190 has a total call value of 1,250,000 versus a total put value of 103,311,875,000 Combined total value = 103,313,125,000
Strike 195 has a total call value of 28,125,000 versus a total put value of 88,530,000,000 Combined total value = 88,558,125,000
Strike 200 has a total call value of 71,250,000 versus a total put value of 74,381,250,000 Combined total value = 74,452,500,000
Strike 205 has a total call value of 318,125,000 versus a total put value of 62,938,750,000 Combined total value = 63,256,875,000
Strike 210 has a total call value of 578,750,000 versus a total put value of 51,928,750,000 Combined total value = 52,507,500,000
Strike 215 has a total call value of 925,625,000 versus a total put value of 42,543,750,000 Combined total value = 43,469,375,000
Strike 220 has a total call value of 1,282,500,000 versus a total put value of 33,470,625,000 Combined total value = 34,753,125,000
Strike 225 has a total call value of 1,845,625,000 versus a total put value of 25,781,250,000 Combined total value = 27,626,875,000
Strike 230 has a total call value of 2,429,375,000 versus a total put value of 18,448,125,000 Combined total value = 20,877,500,000
Strike 235 has a total call value of 3,486,875,000 versus a total put value of 12,745,000,000 Combined total value = 16,231,875,000
Strike 240 has a total call value of 4,740,625,000 versus a total put value of 7,725,625,000 Combined total value = 12,466,250,000
Strike 245 has a total call value of 8,443,750,000 versus a total put value of 4,905,000,000 Combined total value = 13,348,750,000
Strike 250 has a total call value of 12,741,250,000 versus a total put value of 2,826,875,000 Combined total value = 15,568,125,000
Strike 255 has a total call value of 19,870,000,000 versus a total put value of 1,952,500,000 Combined total value = 21,822,500,000
Strike 260 has a total call value of 27,591,250,000 versus a total put value of 1,206,250,000 Combined total value = 28,797,500,000
Strike 265 has a total call value of 37,297,500,000 versus a total put value of 733,125,000 Combined total value = 38,030,625,000
Strike 270 has a total call value of 47,139,375,000 versus a total put value of 260,000,000 Combined total value = 47,399,375,000
Strike 275 has a total call value of 59,040,000,000 versus a total put value of 130,000,000 Combined total value = 59,170,000,000
Strike 280 has a total call value of 71,045,000,000 versus a total put value of 0 Combined total value = 71,045,000,000
Strike 285 has a total call value of 84,516,875,000 versus a total put value of 0 Combined total value = 84,516,875,000
Strike 290 has a total call value of 98,105,625,000 versus a total put value of 0 Combined total value = 98,105,625,000
Strike 295 has a total call value of 112,128,125,000 versus a total put value of 0 Combined total value = 112,128,125,000
Strike 300 has a total call value of 126,193,125,000 versus a total put value of 0 Combined total value = 126,193,125,000
Strike 305 has a total call value of 141,947,500,000 versus a total put value of 0 Combined total value = 141,947,500,000
Strike 310 has a total call value of 157,738,750,000 versus a total put value of 0 Combined total value = 157,738,750,000
Strike 315 has a total call value of 173,701,250,000 versus a total put value of 0 Combined total value = 173,701,250,000
Strike 320 has a total call value of 189,690,625,000 versus a total put value of 0 Combined total value = 189,690,625,000
Strike 325 has a total call value of 206,070,000,000 versus a total put value of 0 Combined total value = 206,070,000,000
Strike 330 has a total call value of 222,461,250,000 versus a total put value of 0 Combined total value = 222,461,250,000
Strike 335 has a total call value of 238,976,875,000 versus a total put value of 0 Combined total value = 238,976,875,000
Strike 340 has a total call value of 255,492,500,000 versus a total put value of 0 Combined total value = 255,492,500,000
Strike 345 has a total call value of 272,130,000,000 versus a total put value of 0 Combined total value = 272,130,000,000
Strike 350 has a total call value of 288,778,125,000 versus a total put value of 0 Combined total value = 288,778,125,000
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.