NATURALGAS
Natural Gas
Max pain for NATURALGAS
06 Sep 2024 11:40 PM IST
Max Pain for NATURALGAS is 185
Strike 100 has a total call value of 0 versus a total put value of 483,765,000,000 Combined total value = 483,765,000,000
Strike 105 has a total call value of 0 versus a total put value of 449,867,500,000 Combined total value = 449,867,500,000
Strike 110 has a total call value of 0 versus a total put value of 415,970,000,000 Combined total value = 415,970,000,000
Strike 115 has a total call value of 0 versus a total put value of 382,072,500,000 Combined total value = 382,072,500,000
Strike 120 has a total call value of 0 versus a total put value of 348,175,000,000 Combined total value = 348,175,000,000
Strike 125 has a total call value of 0 versus a total put value of 314,277,500,000 Combined total value = 314,277,500,000
Strike 130 has a total call value of 0 versus a total put value of 280,409,375,000 Combined total value = 280,409,375,000
Strike 135 has a total call value of 0 versus a total put value of 247,199,375,000 Combined total value = 247,199,375,000
Strike 140 has a total call value of 0 versus a total put value of 214,286,875,000 Combined total value = 214,286,875,000
Strike 145 has a total call value of 0 versus a total put value of 182,694,375,000 Combined total value = 182,694,375,000
Strike 150 has a total call value of 0 versus a total put value of 151,472,500,000 Combined total value = 151,472,500,000
Strike 155 has a total call value of 75,000,000 versus a total put value of 122,938,750,000 Combined total value = 123,013,750,000
Strike 160 has a total call value of 150,000,000 versus a total put value of 95,462,500,000 Combined total value = 95,612,500,000
Strike 165 has a total call value of 388,125,000 versus a total put value of 72,611,250,000 Combined total value = 72,999,375,000
Strike 170 has a total call value of 666,875,000 versus a total put value of 51,124,375,000 Combined total value = 51,791,250,000
Strike 175 has a total call value of 1,301,875,000 versus a total put value of 33,543,750,000 Combined total value = 34,845,625,000
Strike 180 has a total call value of 2,775,000,000 versus a total put value of 19,433,750,000 Combined total value = 22,208,750,000
Strike 185 has a total call value of 8,253,125,000 versus a total put value of 11,376,250,000 Combined total value = 19,629,375,000
Strike 190 has a total call value of 15,675,000,000 versus a total put value of 5,973,125,000 Combined total value = 21,648,125,000
Strike 195 has a total call value of 26,909,375,000 versus a total put value of 3,924,375,000 Combined total value = 30,833,750,000
Strike 200 has a total call value of 40,472,500,000 versus a total put value of 2,349,375,000 Combined total value = 42,821,875,000
Strike 205 has a total call value of 57,996,875,000 versus a total put value of 1,724,375,000 Combined total value = 59,721,250,000
Strike 210 has a total call value of 76,315,000,000 versus a total put value of 1,146,250,000 Combined total value = 77,461,250,000
Strike 215 has a total call value of 97,154,375,000 versus a total put value of 705,625,000 Combined total value = 97,860,000,000
Strike 220 has a total call value of 118,718,125,000 versus a total put value of 265,000,000 Combined total value = 118,983,125,000
Strike 225 has a total call value of 142,282,500,000 versus a total put value of 132,500,000 Combined total value = 142,415,000,000
Strike 230 has a total call value of 166,470,000,000 versus a total put value of 0 Combined total value = 166,470,000,000
Strike 235 has a total call value of 191,605,625,000 versus a total put value of 0 Combined total value = 191,605,625,000
Strike 240 has a total call value of 216,917,500,000 versus a total put value of 0 Combined total value = 216,917,500,000
Strike 245 has a total call value of 243,745,625,000 versus a total put value of 0 Combined total value = 243,745,625,000
Strike 250 has a total call value of 270,580,625,000 versus a total put value of 0 Combined total value = 270,580,625,000
Strike 255 has a total call value of 298,347,500,000 versus a total put value of 0 Combined total value = 298,347,500,000
Strike 260 has a total call value of 326,133,750,000 versus a total put value of 0 Combined total value = 326,133,750,000
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.