NATURALGAS
Natural Gas
Max pain for NATURALGAS
21 Nov 2024 04:10 PM IST
Max Pain for NATURALGAS is 260
Strike 150 has a total call value of 0 versus a total put value of 1,038,345,625,000 Combined total value = 1,038,345,625,000
Strike 155 has a total call value of 0 versus a total put value of 977,281,250,000 Combined total value = 977,281,250,000
Strike 160 has a total call value of 0 versus a total put value of 916,217,500,000 Combined total value = 916,217,500,000
Strike 165 has a total call value of 0 versus a total put value of 855,265,625,000 Combined total value = 855,265,625,000
Strike 170 has a total call value of 0 versus a total put value of 794,315,000,000 Combined total value = 794,315,000,000
Strike 175 has a total call value of 1,875,000 versus a total put value of 734,155,625,000 Combined total value = 734,157,500,000
Strike 180 has a total call value of 3,750,000 versus a total put value of 674,088,750,000 Combined total value = 674,092,500,000
Strike 185 has a total call value of 6,250,000 versus a total put value of 615,581,250,000 Combined total value = 615,587,500,000
Strike 190 has a total call value of 8,750,000 versus a total put value of 557,444,375,000 Combined total value = 557,453,125,000
Strike 195 has a total call value of 59,375,000 versus a total put value of 501,561,250,000 Combined total value = 501,620,625,000
Strike 200 has a total call value of 124,375,000 versus a total put value of 446,420,625,000 Combined total value = 446,545,000,000
Strike 205 has a total call value of 295,000,000 versus a total put value of 396,464,375,000 Combined total value = 396,759,375,000
Strike 210 has a total call value of 483,125,000 versus a total put value of 348,425,625,000 Combined total value = 348,908,750,000
Strike 215 has a total call value of 755,000,000 versus a total put value of 303,131,875,000 Combined total value = 303,886,875,000
Strike 220 has a total call value of 1,066,250,000 versus a total put value of 259,456,875,000 Combined total value = 260,523,125,000
Strike 225 has a total call value of 2,236,875,000 versus a total put value of 219,046,250,000 Combined total value = 221,283,125,000
Strike 230 has a total call value of 3,666,875,000 versus a total put value of 180,858,750,000 Combined total value = 184,525,625,000
Strike 235 has a total call value of 5,940,000,000 versus a total put value of 147,083,125,000 Combined total value = 153,023,125,000
Strike 240 has a total call value of 9,513,125,000 versus a total put value of 115,963,125,000 Combined total value = 125,476,250,000
Strike 245 has a total call value of 14,835,625,000 versus a total put value of 89,754,375,000 Combined total value = 104,590,000,000
Strike 250 has a total call value of 22,255,625,000 versus a total put value of 67,676,875,000 Combined total value = 89,932,500,000
Strike 255 has a total call value of 31,607,500,000 versus a total put value of 50,305,625,000 Combined total value = 81,913,125,000
Strike 260 has a total call value of 42,148,125,000 versus a total put value of 35,486,250,000 Combined total value = 77,634,375,000
Strike 265 has a total call value of 55,361,250,000 versus a total put value of 24,420,000,000 Combined total value = 79,781,250,000
Strike 270 has a total call value of 70,313,750,000 versus a total put value of 14,995,000,000 Combined total value = 85,308,750,000
Strike 275 has a total call value of 87,643,125,000 versus a total put value of 8,218,750,000 Combined total value = 95,861,875,000
Strike 280 has a total call value of 105,901,875,000 versus a total put value of 3,582,500,000 Combined total value = 109,484,375,000
Strike 285 has a total call value of 126,184,375,000 versus a total put value of 1,258,125,000 Combined total value = 127,442,500,000
Strike 290 has a total call value of 147,972,500,000 versus a total put value of 291,875,000 Combined total value = 148,264,375,000
Strike 295 has a total call value of 172,171,875,000 versus a total put value of 85,000,000 Combined total value = 172,256,875,000
Strike 300 has a total call value of 197,262,500,000 versus a total put value of 0 Combined total value = 197,262,500,000
Strike 305 has a total call value of 225,299,375,000 versus a total put value of 0 Combined total value = 225,299,375,000
Strike 310 has a total call value of 254,642,500,000 versus a total put value of 0 Combined total value = 254,642,500,000
Strike 315 has a total call value of 284,671,250,000 versus a total put value of 0 Combined total value = 284,671,250,000
Strike 320 has a total call value of 315,183,125,000 versus a total put value of 0 Combined total value = 315,183,125,000
Strike 325 has a total call value of 346,315,000,000 versus a total put value of 0 Combined total value = 346,315,000,000
Strike 330 has a total call value of 377,468,750,000 versus a total put value of 0 Combined total value = 377,468,750,000
Strike 335 has a total call value of 408,832,500,000 versus a total put value of 0 Combined total value = 408,832,500,000
Strike 340 has a total call value of 440,203,125,000 versus a total put value of 0 Combined total value = 440,203,125,000
Strike 345 has a total call value of 471,963,750,000 versus a total put value of 0 Combined total value = 471,963,750,000
Strike 350 has a total call value of 503,729,375,000 versus a total put value of 0 Combined total value = 503,729,375,000
Strike 355 has a total call value of 536,139,375,000 versus a total put value of 0 Combined total value = 536,139,375,000
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.
