NATURALGAS
Natural Gas
Max pain for NATURALGAS
12 Sep 2024 11:40 PM IST
Max Pain for NATURALGAS is 190
Strike 100 has a total call value of 0 versus a total put value of 829,470,000,000 Combined total value = 829,470,000,000
Strike 105 has a total call value of 0 versus a total put value of 775,186,875,000 Combined total value = 775,186,875,000
Strike 110 has a total call value of 0 versus a total put value of 720,903,750,000 Combined total value = 720,903,750,000
Strike 115 has a total call value of 0 versus a total put value of 666,620,625,000 Combined total value = 666,620,625,000
Strike 120 has a total call value of 0 versus a total put value of 612,337,500,000 Combined total value = 612,337,500,000
Strike 125 has a total call value of 0 versus a total put value of 558,199,375,000 Combined total value = 558,199,375,000
Strike 130 has a total call value of 0 versus a total put value of 504,086,875,000 Combined total value = 504,086,875,000
Strike 135 has a total call value of 0 versus a total put value of 450,611,875,000 Combined total value = 450,611,875,000
Strike 140 has a total call value of 0 versus a total put value of 397,376,875,000 Combined total value = 397,376,875,000
Strike 145 has a total call value of 0 versus a total put value of 345,498,750,000 Combined total value = 345,498,750,000
Strike 150 has a total call value of 0 versus a total put value of 293,993,125,000 Combined total value = 293,993,125,000
Strike 155 has a total call value of 67,500,000 versus a total put value of 245,128,750,000 Combined total value = 245,196,250,000
Strike 160 has a total call value of 140,625,000 versus a total put value of 197,043,125,000 Combined total value = 197,183,750,000
Strike 165 has a total call value of 386,875,000 versus a total put value of 153,396,250,000 Combined total value = 153,783,125,000
Strike 170 has a total call value of 659,375,000 versus a total put value of 112,241,875,000 Combined total value = 112,901,250,000
Strike 175 has a total call value of 1,294,375,000 versus a total put value of 78,940,625,000 Combined total value = 80,235,000,000
Strike 180 has a total call value of 2,814,375,000 versus a total put value of 49,899,375,000 Combined total value = 52,713,750,000
Strike 185 has a total call value of 7,850,000,000 versus a total put value of 29,852,500,000 Combined total value = 37,702,500,000
Strike 190 has a total call value of 14,344,375,000 versus a total put value of 15,615,625,000 Combined total value = 29,960,000,000
Strike 195 has a total call value of 24,275,625,000 versus a total put value of 7,960,625,000 Combined total value = 32,236,250,000
Strike 200 has a total call value of 37,148,750,000 versus a total put value of 3,555,000,000 Combined total value = 40,703,750,000
Strike 205 has a total call value of 54,711,250,000 versus a total put value of 2,345,000,000 Combined total value = 57,056,250,000
Strike 210 has a total call value of 73,740,000,000 versus a total put value of 1,498,125,000 Combined total value = 75,238,125,000
Strike 215 has a total call value of 95,736,875,000 versus a total put value of 1,001,250,000 Combined total value = 96,738,125,000
Strike 220 has a total call value of 118,663,750,000 versus a total put value of 516,250,000 Combined total value = 119,180,000,000
Strike 225 has a total call value of 143,465,000,000 versus a total put value of 341,875,000 Combined total value = 143,806,875,000
Strike 230 has a total call value of 168,848,125,000 versus a total put value of 167,500,000 Combined total value = 169,015,625,000
Strike 235 has a total call value of 195,545,000,000 versus a total put value of 125,625,000 Combined total value = 195,670,625,000
Strike 240 has a total call value of 222,429,375,000 versus a total put value of 83,750,000 Combined total value = 222,513,125,000
Strike 245 has a total call value of 250,984,375,000 versus a total put value of 41,875,000 Combined total value = 251,026,250,000
Strike 250 has a total call value of 279,562,500,000 versus a total put value of 0 Combined total value = 279,562,500,000
Strike 255 has a total call value of 309,231,875,000 versus a total put value of 0 Combined total value = 309,231,875,000
Strike 260 has a total call value of 338,923,750,000 versus a total put value of 0 Combined total value = 338,923,750,000
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.