NATURALGAS
Natural Gas
Max pain for NATURALGAS
18 Oct 2024 10:50 AM IST
Max Pain for NATURALGAS is 205
Strike 145 has a total call value of 0 versus a total put value of 370,366,250,000 Combined total value = 370,366,250,000
Strike 150 has a total call value of 0 versus a total put value of 337,416,875,000 Combined total value = 337,416,875,000
Strike 155 has a total call value of 0 versus a total put value of 304,467,500,000 Combined total value = 304,467,500,000
Strike 160 has a total call value of 0 versus a total put value of 271,541,250,000 Combined total value = 271,541,250,000
Strike 165 has a total call value of 0 versus a total put value of 238,949,375,000 Combined total value = 238,949,375,000
Strike 170 has a total call value of 0 versus a total put value of 206,436,875,000 Combined total value = 206,436,875,000
Strike 175 has a total call value of 0 versus a total put value of 175,387,500,000 Combined total value = 175,387,500,000
Strike 180 has a total call value of 0 versus a total put value of 144,831,875,000 Combined total value = 144,831,875,000
Strike 185 has a total call value of 171,250,000 versus a total put value of 116,415,625,000 Combined total value = 116,586,875,000
Strike 190 has a total call value of 392,500,000 versus a total put value of 89,045,000,000 Combined total value = 89,437,500,000
Strike 195 has a total call value of 1,641,875,000 versus a total put value of 65,074,375,000 Combined total value = 66,716,250,000
Strike 200 has a total call value of 4,234,375,000 versus a total put value of 43,482,500,000 Combined total value = 47,716,875,000
Strike 205 has a total call value of 14,115,000,000 versus a total put value of 29,723,125,000 Combined total value = 43,838,125,000
Strike 210 has a total call value of 29,171,875,000 versus a total put value of 18,721,875,000 Combined total value = 47,893,750,000
Strike 215 has a total call value of 53,702,500,000 versus a total put value of 12,431,250,000 Combined total value = 66,133,750,000
Strike 220 has a total call value of 81,653,125,000 versus a total put value of 7,081,875,000 Combined total value = 88,735,000,000
Strike 225 has a total call value of 117,236,875,000 versus a total put value of 4,190,000,000 Combined total value = 121,426,875,000
Strike 230 has a total call value of 156,031,250,000 versus a total put value of 1,807,500,000 Combined total value = 157,838,750,000
Strike 235 has a total call value of 201,678,750,000 versus a total put value of 903,750,000 Combined total value = 202,582,500,000
Strike 240 has a total call value of 250,226,250,000 versus a total put value of 0 Combined total value = 250,226,250,000
Strike 245 has a total call value of 305,505,625,000 versus a total put value of 0 Combined total value = 305,505,625,000
Strike 250 has a total call value of 362,933,125,000 versus a total put value of 0 Combined total value = 362,933,125,000
Strike 255 has a total call value of 427,541,875,000 versus a total put value of 0 Combined total value = 427,541,875,000
Strike 260 has a total call value of 493,764,375,000 versus a total put value of 0 Combined total value = 493,764,375,000
Strike 265 has a total call value of 564,473,125,000 versus a total put value of 0 Combined total value = 564,473,125,000
Strike 270 has a total call value of 635,958,750,000 versus a total put value of 0 Combined total value = 635,958,750,000
Strike 275 has a total call value of 710,019,375,000 versus a total put value of 0 Combined total value = 710,019,375,000
Strike 280 has a total call value of 784,080,000,000 versus a total put value of 0 Combined total value = 784,080,000,000
Strike 285 has a total call value of 859,592,500,000 versus a total put value of 0 Combined total value = 859,592,500,000
Strike 290 has a total call value of 935,286,875,000 versus a total put value of 0 Combined total value = 935,286,875,000
Strike 295 has a total call value of 1,012,149,375,000 versus a total put value of 0 Combined total value = 1,012,149,375,000
Strike 300 has a total call value of 1,089,011,875,000 versus a total put value of 0 Combined total value = 1,089,011,875,000
Strike 305 has a total call value of 1,167,516,250,000 versus a total put value of 0 Combined total value = 1,167,516,250,000
Strike 310 has a total call value of 1,246,321,250,000 versus a total put value of 0 Combined total value = 1,246,321,250,000
Strike 315 has a total call value of 1,325,441,875,000 versus a total put value of 0 Combined total value = 1,325,441,875,000
Strike 320 has a total call value of 1,404,954,375,000 versus a total put value of 0 Combined total value = 1,404,954,375,000
Strike 325 has a total call value of 1,484,947,500,000 versus a total put value of 0 Combined total value = 1,484,947,500,000
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.
