NATURALGAS
Natural Gas
Max pain for NATURALGAS
21 Nov 2024 08:00 PM IST
Max Pain for NATURALGAS is 265
Strike 150 has a total call value of 0 versus a total put value of 1,083,614,375,000 Combined total value = 1,083,614,375,000
Strike 155 has a total call value of 0 versus a total put value of 1,021,125,625,000 Combined total value = 1,021,125,625,000
Strike 160 has a total call value of 0 versus a total put value of 958,637,500,000 Combined total value = 958,637,500,000
Strike 165 has a total call value of 0 versus a total put value of 896,261,250,000 Combined total value = 896,261,250,000
Strike 170 has a total call value of 0 versus a total put value of 833,886,250,000 Combined total value = 833,886,250,000
Strike 175 has a total call value of 1,875,000 versus a total put value of 772,294,375,000 Combined total value = 772,296,250,000
Strike 180 has a total call value of 3,750,000 versus a total put value of 710,795,000,000 Combined total value = 710,798,750,000
Strike 185 has a total call value of 6,250,000 versus a total put value of 650,806,250,000 Combined total value = 650,812,500,000
Strike 190 has a total call value of 8,750,000 versus a total put value of 591,138,125,000 Combined total value = 591,146,875,000
Strike 195 has a total call value of 50,625,000 versus a total put value of 533,729,375,000 Combined total value = 533,780,000,000
Strike 200 has a total call value of 105,000,000 versus a total put value of 477,061,250,000 Combined total value = 477,166,250,000
Strike 205 has a total call value of 261,250,000 versus a total put value of 425,548,125,000 Combined total value = 425,809,375,000
Strike 210 has a total call value of 435,000,000 versus a total put value of 375,952,500,000 Combined total value = 376,387,500,000
Strike 215 has a total call value of 693,125,000 versus a total put value of 329,101,250,000 Combined total value = 329,794,375,000
Strike 220 has a total call value of 990,625,000 versus a total put value of 283,869,375,000 Combined total value = 284,860,000,000
Strike 225 has a total call value of 2,132,500,000 versus a total put value of 241,885,000,000 Combined total value = 244,017,500,000
Strike 230 has a total call value of 3,533,125,000 versus a total put value of 202,126,875,000 Combined total value = 205,660,000,000
Strike 235 has a total call value of 5,766,250,000 versus a total put value of 166,893,125,000 Combined total value = 172,659,375,000
Strike 240 has a total call value of 9,296,250,000 versus a total put value of 134,326,250,000 Combined total value = 143,622,500,000
Strike 245 has a total call value of 14,388,750,000 versus a total put value of 106,752,500,000 Combined total value = 121,141,250,000
Strike 250 has a total call value of 21,563,750,000 versus a total put value of 83,340,625,000 Combined total value = 104,904,375,000
Strike 255 has a total call value of 30,426,250,000 versus a total put value of 64,561,875,000 Combined total value = 94,988,125,000
Strike 260 has a total call value of 40,423,750,000 versus a total put value of 48,168,750,000 Combined total value = 88,592,500,000
Strike 265 has a total call value of 52,873,125,000 versus a total put value of 35,063,750,000 Combined total value = 87,936,875,000
Strike 270 has a total call value of 66,991,875,000 versus a total put value of 23,381,875,000 Combined total value = 90,373,750,000
Strike 275 has a total call value of 83,086,875,000 versus a total put value of 14,255,625,000 Combined total value = 97,342,500,000
Strike 280 has a total call value of 99,776,250,000 versus a total put value of 7,227,500,000 Combined total value = 107,003,750,000
Strike 285 has a total call value of 118,121,875,000 versus a total put value of 2,951,250,000 Combined total value = 121,073,125,000
Strike 290 has a total call value of 137,879,375,000 versus a total put value of 786,875,000 Combined total value = 138,666,250,000
Strike 295 has a total call value of 160,147,500,000 versus a total put value of 207,500,000 Combined total value = 160,355,000,000
Strike 300 has a total call value of 183,849,375,000 versus a total put value of 3,750,000 Combined total value = 183,853,125,000
Strike 305 has a total call value of 210,360,000,000 versus a total put value of 1,875,000 Combined total value = 210,361,875,000
Strike 310 has a total call value of 239,169,375,000 versus a total put value of 0 Combined total value = 239,169,375,000
Strike 315 has a total call value of 269,822,500,000 versus a total put value of 0 Combined total value = 269,822,500,000
Strike 320 has a total call value of 302,008,125,000 versus a total put value of 0 Combined total value = 302,008,125,000
Strike 325 has a total call value of 334,879,375,000 versus a total put value of 0 Combined total value = 334,879,375,000
Strike 330 has a total call value of 367,773,125,000 versus a total put value of 0 Combined total value = 367,773,125,000
Strike 335 has a total call value of 400,877,500,000 versus a total put value of 0 Combined total value = 400,877,500,000
Strike 340 has a total call value of 433,994,375,000 versus a total put value of 0 Combined total value = 433,994,375,000
Strike 345 has a total call value of 467,501,250,000 versus a total put value of 0 Combined total value = 467,501,250,000
Strike 350 has a total call value of 501,013,125,000 versus a total put value of 0 Combined total value = 501,013,125,000
Strike 355 has a total call value of 535,173,125,000 versus a total put value of 0 Combined total value = 535,173,125,000
Max-Pain Table for Monthly Expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| AARTIIND | 425.6 | 470 |
| ABB | 6760.8 | 7000 |
| ABBOTINDIA | 27114.7 | 28000 |
| ABCAPITAL | 183.01 | 200 |
| ABFRL | 284.4 | 305 |
| ACC | 2027.2 | 2220 |
| ADANIENT | 2183.65 | 2500 |
| ADANIPORTS | 1114.65 | 1200 |
| ALKEM | 5604.75 | 5600 |
| AMBUJACEM | 484.15 | 530 |
| APOLLOHOSP | 6742.5 | 6900 |
| APOLLOTYRE | 481.3 | 480 |
| ASHOKLEY | 218.9 | 220 |
| ASIANPAINT | 2428.15 | 2540 |
| ASTRAL | 1713.9 | 1780 |
| ATUL | 7241.95 | 7500 |
| AUBANK | 593.9 | 590 |
| AUROPHARMA | 1220 | 1300 |
| AXISBANK | 1139.15 | 1150 |
| BAJAJ-AUTO | 9505 | 9700 |
| BAJAJFINSV | 1569.25 | 1620 |
| BAJFINANCE | 6465.65 | 6700 |
| BALKRISIND | 2721.95 | 2800 |
| BANDHANBNK | 165.86 | 180 |
| BANKBARODA | 228.5 | 240 |
| BATAINDIA | 1281.55 | 1310 |
| BEL | 275.45 | 285 |
| BERGEPAINT | 465.5 | 495 |
| BHARATFORG | 1296.2 | 1340 |
| BHARTIARTL | 1525.15 | 1560 |
| BHEL | 227.94 | 235 |
| BIOCON | 323.1 | 330 |
| BOSCHLTD | 34108.7 | 34000 |
| BPCL | 282.4 | 295 |
| BRITANNIA | 4803.35 | 5000 |
| BSOFT | 545.4 | 560 |
| CANBK | 94.46 | 100 |
| CANFINHOME | 822.65 | 830 |
| CHAMBLFERT | 455.4 | 480 |
| CHOLAFIN | 1204.9 | 1260 |
| CIPLA | 1465.5 | 1520 |
| COALINDIA | 406 | 425 |
| COFORGE | 8210.1 | 8000 |
| COLPAL | 2690.3 | 2850 |
| CONCOR | 769.95 | 810 |
| COROMANDEL | 1768 | 1720 |
| CROMPTON | 381.95 | 390 |
| CUB | 170.09 | 175 |
| CUMMINSIND | 3282.25 | 3400 |
| DABUR | 505.75 | 525 |
| DALBHARAT | 1771.6 | 1760 |
| DEEPAKNTR | 2619.2 | 2650 |
| DIVISLAB | 5977.1 | 5900 |
| DIXON | 14995.45 | 14750 |
| DLF | 773.95 | 780 |
| DRREDDY | 1195.35 | 1220 |
| EICHERMOT | 4882.1 | 4900 |
| ESCORTS | 3454.4 | 3600 |
| EXIDEIND | 415.35 | 440 |
| FEDERALBNK | 210.88 | 205 |
| GAIL | 188.3 | 195 |
| GLENMARK | 1466.4 | 1540 |
| GMRINFRA | 76.85 | 82 |
| GNFC | 555.55 | 570 |
| GODREJCP | 1178.7 | 1200 |
| GODREJPROP | 2704.8 | 2750 |
| GRANULES | 544.85 | 570 |
| GRASIM | 2534.85 | 2540 |
| GUJGASLTD | 453.6 | 480 |
| HAL | 3983.45 | 4200 |
| HAVELLS | 1636.1 | 1640 |
| HCLTECH | 1836.35 | 1820 |
| HDFCAMC | 4214.1 | 4300 |
| HDFCBANK | 1741.2 | 1740 |
| HDFCLIFE | 674.4 | 680 |
| HEROMOTOCO | 4767.85 | 4800 |
| HINDALCO | 648.05 | 650 |
| HINDCOPPER | 261.5 | 290 |
| HINDPETRO | 360.1 | 375 |
| HINDUNILVR | 2382.8 | 2480 |
| ICICIBANK | 1250.55 | 1260 |
| ICICIGI | 1804.7 | 1880 |
| ICICIPRULI | 678.55 | 700 |
| IDEA | 6.91 | 8 |
| IDFCFIRSTB | 62.94 | 66 |
| IEX | 161.33 | 170 |
| IGL | 311.4 | 330 |
| INDHOTEL | 786.8 | 760 |
| INDIAMART | 2253.95 | 2350 |
| INDIGO | 4069.8 | 4050 |
| INDUSINDBK | 981.45 | 1040 |
| INDUSTOWER | 329.1 | 340 |
| INFY | 1834.05 | 1800 |
| IOC | 130.71 | 140 |
| IPCALAB | 1573.55 | 1560 |
| IRCTC | 793.85 | 830 |
| ITC | 457.15 | 475 |
| JINDALSTEL | 871.2 | 900 |
| JKCEMENT | 4003 | 4000 |
| JSWSTEEL | 944.15 | 960 |
| JUBLFOOD | 610.2 | 620 |
| KOTAKBANK | 1737.1 | 1760 |
| LALPATHLAB | 3026.1 | 3100 |
| LAURUSLABS | 489.15 | 490 |
| LICHSGFIN | 611.25 | 630 |
| LT | 3483.5 | 3600 |
| LTF | 137.74 | 140 |
| LTIM | 5931.05 | 5900 |
| LTTS | 5165.7 | 5150 |
| LUPIN | 2043 | 2100 |
| M&M | 2936.25 | 2900 |
| M&MFIN | 256.25 | 265 |
| MANAPPURAM | 150.29 | 155 |
| MARICO | 591.05 | 600 |
| MARUTI | 10861.45 | 11000 |
| MCX | 6166.5 | 6200 |
| METROPOLIS | 2015.75 | 2060 |
| MFSL | 1173.5 | 1200 |
| MGL | 1125.35 | 1160 |
| MOTHERSON | 161.84 | 175 |
| MPHASIS | 2786.2 | 2850 |
| MRF | 123509.9 | 122500 |
| MUTHOOTFIN | 1899.55 | 1880 |
| NATIONALUM | 248.21 | 240 |
| NAUKRI | 7515.35 | 7700 |
| NAVINFLUOR | 3262.45 | 3400 |
| NESTLEIND | 2211.2 | 2280 |
| NMDC | 217.63 | 225 |
| NTPC | 356.15 | 370 |
| OBEROIRLTY | 1917.35 | 1960 |
| OFSS | 11141.9 | 11500 |
| ONGC | 242.15 | 250 |
| PAGEIND | 44447.7 | 45500 |
| PEL | 1054.95 | 1060 |
| PERSISTENT | 5725.5 | 5600 |
| PETRONET | 321.85 | 328 |
| PFC | 453.35 | 460 |
| PIDILITIND | 2938.05 | 3060 |
| PIIND | 4138.7 | 4200 |
| PNB | 96.37 | 102 |
| POLYCAB | 6408.35 | 6500 |
| POWERGRID | 325.9 | 320 |
| PVRINOX | 1445.2 | 1480 |
| RAMCOCEM | 914.95 | 900 |
| RBLBANK | 156.23 | 160 |
| RECLTD | 490.95 | 510 |
| RELIANCE | 1223 | 1290 |
| SAIL | 110.59 | 117.5 |
| SBICARD | 675.05 | 690 |
| SBILIFE | 1477.95 | 1520 |
| SBIN | 780.75 | 800 |
| SHREECEM | 24052.85 | 24500 |
| SHRIRAMFIN | 2802.2 | 2900 |
| SIEMENS | 6641.65 | 6800 |
| SRF | 2143.65 | 2260 |
| SUNPHARMA | 1780 | 1800 |
| SUNTV | 728.05 | 730 |
| SYNGENE | 846.9 | 870 |
| TATACHEM | 1045.1 | 1100 |
| TATACOMM | 1711.55 | 1780 |
| TATACONSUM | 911.7 | 950 |
| TATAMOTORS | 773.85 | 800 |
| TATAPOWER | 408.05 | 420 |
| TATASTEEL | 140.22 | 145 |
| TCS | 4072.85 | 4100 |
| TECHM | 1702.25 | 1680 |
| TITAN | 3178.45 | 3200 |
| TORNTPHARM | 3101.95 | 3150 |
| TRENT | 6460.45 | 6600 |
| TVSMOTOR | 2388.45 | 2450 |
| UBL | 1827.95 | 1880 |
| ULTRACEMCO | 10954.85 | 11000 |
| UNITDSPR | 1493.05 | 1480 |
| UPL | 555.75 | 540 |
| VEDL | 442.8 | 460 |
| VOLTAS | 1675.5 | 1700 |
| WIPRO | 557.15 | 560 |
| ZYDUSLIFE | 944.05 | 980 |
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.
