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NIFTY
Nifty
24749.85 -221.45 (-0.89%)

Max pain for NIFTY

17 Oct 2024 04:11 PM IST

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Max Pain for NIFTY is 24900  


Historical data for 24900 Call

Ltp (24900 CE)
118 -104.00
Open Interest
1717800 1494875

Historical data for 24900 Put

Ltp (24900 PE)
213.65 92.50
Open Interest
860175 273050

Strike  23050  has a total call value of 0  versus a total put value of  4,088,416,500,000 Combined total value = 4,088,416,500,000

Strike  23100  has a total call value of 0  versus a total put value of  3,913,704,750,000 Combined total value = 3,913,704,750,000

Strike  23150  has a total call value of 500,000  versus a total put value of  3,749,760,750,000 Combined total value = 3,749,761,250,000

Strike  23200  has a total call value of 1,000,000  versus a total put value of  3,586,559,000,000 Combined total value = 3,586,560,000,000

Strike  23250  has a total call value of 3,750,000  versus a total put value of  3,429,441,000,000 Combined total value = 3,429,444,750,000

Strike  23300  has a total call value of 6,500,000  versus a total put value of  3,272,505,500,000 Combined total value = 3,272,512,000,000

Strike  23350  has a total call value of 9,375,000  versus a total put value of  3,117,246,125,000 Combined total value = 3,117,255,500,000

Strike  23400  has a total call value of 12,250,000  versus a total put value of  2,962,304,875,000 Combined total value = 2,962,317,125,000

Strike  23450  has a total call value of 15,875,000  versus a total put value of  2,809,753,750,000 Combined total value = 2,809,769,625,000

Strike  23500  has a total call value of 19,500,000  versus a total put value of  2,657,469,500,000 Combined total value = 2,657,489,000,000

Strike  23550  has a total call value of 63,000,000  versus a total put value of  2,522,794,250,000 Combined total value = 2,522,857,250,000

Strike  23600  has a total call value of 106,500,000  versus a total put value of  2,388,558,500,000 Combined total value = 2,388,665,000,000

Strike  23650  has a total call value of 153,000,000  versus a total put value of  2,257,710,625,000 Combined total value = 2,257,863,625,000

Strike  23700  has a total call value of 199,500,000  versus a total put value of  2,127,273,000,000 Combined total value = 2,127,472,500,000

Strike  23750  has a total call value of 251,500,000  versus a total put value of  2,000,856,250,000 Combined total value = 2,001,107,750,000

Strike  23800  has a total call value of 303,500,000  versus a total put value of  1,874,764,500,000 Combined total value = 1,875,068,000,000

Strike  23850  has a total call value of 367,250,000  versus a total put value of  1,755,170,250,000 Combined total value = 1,755,537,500,000

Strike  23900  has a total call value of 431,000,000  versus a total put value of  1,636,966,750,000 Combined total value = 1,637,397,750,000

Strike  23950  has a total call value of 508,375,000  versus a total put value of  1,522,772,125,000 Combined total value = 1,523,280,500,000

Strike  24000  has a total call value of 586,500,000  versus a total put value of  1,409,966,000,000 Combined total value = 1,410,552,500,000

Strike  24050  has a total call value of 1,030,500,000  versus a total put value of  1,309,461,500,000 Combined total value = 1,310,492,000,000

Strike  24100  has a total call value of 1,474,500,000  versus a total put value of  1,209,722,875,000 Combined total value = 1,211,197,375,000

Strike  24150  has a total call value of 1,988,000,000  versus a total put value of  1,115,694,625,000 Combined total value = 1,117,682,625,000

Strike  24200  has a total call value of 2,501,500,000  versus a total put value of  1,023,501,250,000 Combined total value = 1,026,002,750,000

Strike  24250  has a total call value of 3,154,750,000  versus a total put value of  936,101,375,000 Combined total value = 939,256,125,000

Strike  24300  has a total call value of 3,833,375,000  versus a total put value of  849,969,625,000 Combined total value = 853,803,000,000

Strike  24350  has a total call value of 4,628,625,000  versus a total put value of  769,297,125,000 Combined total value = 773,925,750,000

Strike  24400  has a total call value of 5,471,750,000  versus a total put value of  689,533,000,000 Combined total value = 695,004,750,000

Strike  24450  has a total call value of 6,477,750,000  versus a total put value of  614,051,000,000 Combined total value = 620,528,750,000

Strike  24500  has a total call value of 7,529,000,000  versus a total put value of  540,135,000,000 Combined total value = 547,664,000,000

Strike  24550  has a total call value of 9,504,875,000  versus a total put value of  477,411,125,000 Combined total value = 486,916,000,000

Strike  24600  has a total call value of 11,673,000,000  versus a total put value of  416,962,250,000 Combined total value = 428,635,250,000

Strike  24650  has a total call value of 14,724,000,000  versus a total put value of  362,024,750,000 Combined total value = 376,748,750,000

Strike  24700  has a total call value of 18,159,250,000  versus a total put value of  308,795,125,000 Combined total value = 326,954,375,000

Strike  24750  has a total call value of 25,806,375,000  versus a total put value of  263,412,000,000 Combined total value = 289,218,375,000

Strike  24800  has a total call value of 36,620,250,000  versus a total put value of  221,805,375,000 Combined total value = 258,425,625,000

Strike  24850  has a total call value of 59,869,250,000  versus a total put value of  191,488,125,000 Combined total value = 251,357,375,000

Strike  24900  has a total call value of 86,478,250,000  versus a total put value of  163,153,500,000 Combined total value = 249,631,750,000

Strike  24950  has a total call value of 121,676,250,000  versus a total put value of  139,119,750,000 Combined total value = 260,796,000,000

Strike  25000  has a total call value of 159,889,500,000  versus a total put value of  116,252,250,000 Combined total value = 276,141,750,000

Strike  25050  has a total call value of 224,827,750,000  versus a total put value of  102,428,125,000 Combined total value = 327,255,875,000

Strike  25100  has a total call value of 293,169,625,000  versus a total put value of  89,334,750,000 Combined total value = 382,504,375,000

Strike  25150  has a total call value of 373,339,250,000  versus a total put value of  78,916,375,000 Combined total value = 452,255,625,000

Strike  25200  has a total call value of 456,895,250,000  versus a total put value of  68,771,750,000 Combined total value = 525,667,000,000

Strike  25250  has a total call value of 551,470,250,000  versus a total put value of  60,759,500,000 Combined total value = 612,229,750,000

Strike  25300  has a total call value of 649,035,500,000  versus a total put value of  52,865,500,000 Combined total value = 701,901,000,000

Strike  25350  has a total call value of 756,586,000,000  versus a total put value of  46,122,250,000 Combined total value = 802,708,250,000

Strike  25400  has a total call value of 867,173,125,000  versus a total put value of  39,504,625,000 Combined total value = 906,677,750,000

Strike  25450  has a total call value of 984,948,750,000  versus a total put value of  33,742,750,000 Combined total value = 1,018,691,500,000

Strike  25500  has a total call value of 1,104,888,375,000  versus a total put value of  28,077,000,000 Combined total value = 1,132,965,375,000

Strike  25550  has a total call value of 1,239,729,750,000  versus a total put value of  24,481,125,000 Combined total value = 1,264,210,875,000

Strike  25600  has a total call value of 1,376,532,625,000  versus a total put value of  20,929,625,000 Combined total value = 1,397,462,250,000

Strike  25650  has a total call value of 1,522,489,000,000  versus a total put value of  18,068,000,000 Combined total value = 1,540,557,000,000

Strike  25700  has a total call value of 1,670,069,375,000  versus a total put value of  15,212,750,000 Combined total value = 1,685,282,125,000

Strike  25750  has a total call value of 1,830,521,875,000  versus a total put value of  12,757,375,000 Combined total value = 1,843,279,250,000

Strike  25800  has a total call value of 1,992,697,750,000  versus a total put value of  10,336,500,000 Combined total value = 2,003,034,250,000

Strike  25850  has a total call value of 2,166,951,875,000  versus a total put value of  8,478,125,000 Combined total value = 2,175,430,000,000

Strike  25900  has a total call value of 2,342,699,125,000  versus a total put value of  6,626,000,000 Combined total value = 2,349,325,125,000

Strike  25950  has a total call value of 2,523,351,875,000  versus a total put value of  5,046,875,000 Combined total value = 2,528,398,750,000

Strike  26000  has a total call value of 2,705,155,875,000  versus a total put value of  3,476,125,000 Combined total value = 2,708,632,000,000

Strike  26050  has a total call value of 2,916,613,875,000  versus a total put value of  2,942,375,000 Combined total value = 2,919,556,250,000

Strike  26100  has a total call value of 3,128,835,250,000  versus a total put value of  2,433,625,000 Combined total value = 3,131,268,875,000

Strike  26150  has a total call value of 3,346,196,250,000  versus a total put value of  2,065,750,000 Combined total value = 3,348,262,000,000

Strike  26200  has a total call value of 3,564,083,125,000  versus a total put value of  1,709,750,000 Combined total value = 3,565,792,875,000

Strike  26250  has a total call value of 3,787,467,750,000  versus a total put value of  1,444,500,000 Combined total value = 3,788,912,250,000

Strike  26300  has a total call value of 4,011,303,000,000  versus a total put value of  1,194,125,000 Combined total value = 4,012,497,125,000

Strike  26350  has a total call value of 4,239,807,250,000  versus a total put value of  973,750,000 Combined total value = 4,240,781,000,000

Strike  26400  has a total call value of 4,468,633,375,000  versus a total put value of  763,625,000 Combined total value = 4,469,397,000,000

Strike  26450  has a total call value of 4,699,979,375,000  versus a total put value of  576,750,000 Combined total value = 4,700,556,125,000

Strike  26500  has a total call value of 4,931,575,375,000  versus a total put value of  389,875,000 Combined total value = 4,931,965,250,000

Strike  26550  has a total call value of 5,177,550,750,000  versus a total put value of  323,000,000 Combined total value = 5,177,873,750,000

Strike  26600  has a total call value of 5,423,782,000,000  versus a total put value of  256,125,000 Combined total value = 5,424,038,125,000

Strike  26650  has a total call value of 5,671,046,500,000  versus a total put value of  198,500,000 Combined total value = 5,671,245,000,000

Strike  26700  has a total call value of 5,918,451,125,000  versus a total put value of  140,875,000 Combined total value = 5,918,592,000,000

Strike  26750  has a total call value of 6,166,777,125,000  versus a total put value of  83,250,000 Combined total value = 6,166,860,375,000

Strike  26800  has a total call value of 6,415,338,500,000  versus a total put value of  76,125,000 Combined total value = 6,415,414,625,000

Strike  26850  has a total call value of 6,665,173,375,000  versus a total put value of  69,000,000 Combined total value = 6,665,242,375,000

Strike  26900  has a total call value of 6,915,174,875,000  versus a total put value of  61,875,000 Combined total value = 6,915,236,750,000

Strike  26950  has a total call value of 7,165,695,750,000  versus a total put value of  54,750,000 Combined total value = 7,165,750,500,000

Strike  27000  has a total call value of 7,416,349,125,000  versus a total put value of  48,000,000 Combined total value = 7,416,397,125,000

Strike  27050  has a total call value of 7,683,382,250,000  versus a total put value of  43,000,000 Combined total value = 7,683,425,250,000

Strike  27100  has a total call value of 7,950,515,750,000  versus a total put value of  38,000,000 Combined total value = 7,950,553,750,000

Strike  27150  has a total call value of 8,217,991,625,000  versus a total put value of  33,500,000 Combined total value = 8,218,025,125,000

Strike  27200  has a total call value of 8,485,566,625,000  versus a total put value of  29,000,000 Combined total value = 8,485,595,625,000

Strike  27250  has a total call value of 8,753,382,250,000  versus a total put value of  25,000,000 Combined total value = 8,753,407,250,000

Strike  27300  has a total call value of 9,021,304,375,000  versus a total put value of  21,000,000 Combined total value = 9,021,325,375,000

Strike  27350  has a total call value of 9,290,808,750,000  versus a total put value of  17,500,000 Combined total value = 9,290,826,250,000

Strike  27400  has a total call value of 9,560,467,250,000  versus a total put value of  14,500,000 Combined total value = 9,560,481,750,000

Strike  27450  has a total call value of 9,832,398,125,000  versus a total put value of  11,500,000 Combined total value = 9,832,409,625,000

Strike  27500  has a total call value of 10,104,373,250,000  versus a total put value of  9,000,000 Combined total value = 10,104,382,250,000

Strike  27550  has a total call value of 10,388,981,000,000  versus a total put value of  6,500,000 Combined total value = 10,388,987,500,000

Strike  27600  has a total call value of 10,673,870,125,000  versus a total put value of  4,500,000 Combined total value = 10,673,874,625,000

Strike  27650  has a total call value of 10,963,978,500,000  versus a total put value of  3,000,000 Combined total value = 10,963,981,500,000

Strike  27700  has a total call value of 11,254,219,250,000  versus a total put value of  1,500,000 Combined total value = 11,254,220,750,000

Strike  27750  has a total call value of 11,549,416,500,000  versus a total put value of  500,000 Combined total value = 11,549,417,000,000

Strike  27800  has a total call value of 11,844,814,250,000  versus a total put value of  0 Combined total value = 11,844,814,250,000

Strike  27850  has a total call value of 12,146,284,125,000  versus a total put value of  0 Combined total value = 12,146,284,125,000

Strike  27900  has a total call value of 12,448,926,000,000  versus a total put value of  0 Combined total value = 12,448,926,000,000

Strike  27950  has a total call value of 12,762,367,500,000  versus a total put value of  0 Combined total value = 12,762,367,500,000

All Max-Pain Table

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BANKEX

( Bank Index )

BANKNIFTY

( Nifty Bank )

FINNIFTY

( Nifty Financial Services )

MIDCPNIFTY

( Nifty Midcap Select )

NIFTY

( Nifty )

NIFTYNXT50

( Nifty Next 50 )

SENSEX

( Sensex )

Commodity

COPPER

( Copper )

CRUDEOIL

( Crude Oil )

CRUDEOILM

( Crude Oil Mini )

GOLD

( Gold )

GOLDM

( Gold Mini )

NATGASMINI

( Natural Gas Mini )

NATURALGAS

( Natural Gas )

SILVER

( Silver )

SILVERM

( Silver Mini )

ZINC

( Zinc )

A

Aarti Industries Ltd

( AARTIIND )

Abb India Limited

( ABB )

Abbott India Limited

( ABBOTINDIA )

Aditya Birla Capital Ltd.

( ABCAPITAL )

Aditya Birla Fashion & Rt

( ABFRL )

Acc Limited

( ACC )

Adani Enterprises Limited

( ADANIENT )

Adani Port & Sez Ltd

( ADANIPORTS )

Alkem Laboratories Ltd.

( ALKEM )

Ambuja Cements Ltd

( AMBUJACEM )

Apollo Hospitals Enter. L

( APOLLOHOSP )

Apollo Tyres Ltd

( APOLLOTYRE )

Ashok Leyland Ltd

( ASHOKLEY )

Asian Paints Limited

( ASIANPAINT )

Astral Limited

( ASTRAL )

Atul Ltd

( ATUL )

Au Small Finance Bank Ltd

( AUBANK )

Aurobindo Pharma Ltd

( AUROPHARMA )

Axis Bank Limited

( AXISBANK )

B

Bajaj Auto Limited

( BAJAJ-AUTO )

Bajaj Finserv Ltd.

( BAJAJFINSV )

Bajaj Finance Limited

( BAJFINANCE )

Balkrishna Ind. Ltd

( BALKRISIND )

Balrampur Chini Mills Ltd

( BALRAMCHIN )

Bandhan Bank Limited

( BANDHANBNK )

Bank Of Baroda

( BANKBARODA )

Bank Index

( BANKEX )

Nifty Bank

( BANKNIFTY )

Bata India Ltd

( BATAINDIA )

Bharat Electronics Ltd

( BEL )

Berger Paints (I) Ltd

( BERGEPAINT )

Bharat Forge Ltd

( BHARATFORG )

Bharti Airtel Limited

( BHARTIARTL )

Bhel

( BHEL )

Biocon Limited.

( BIOCON )

Bosch Limited

( BOSCHLTD )

Bharat Petroleum Corp Lt

( BPCL )

Britannia Industries Ltd

( BRITANNIA )

Birlasoft Limited

( BSOFT )

C

Canara Bank

( CANBK )

Can Fin Homes Ltd

( CANFINHOME )

Chambal Fertilizers Ltd

( CHAMBLFERT )

Cholamandalam In & Fin Co

( CHOLAFIN )

Cipla Ltd

( CIPLA )

Coal India Ltd

( COALINDIA )

Coforge Limited

( COFORGE )

Colgate Palmolive Ltd.

( COLPAL )

Container Corp Of Ind Ltd

( CONCOR )

Copper

( COPPER )

Coromandel Interntl. Ltd

( COROMANDEL )

Crompt Grea Con Elec Ltd

( CROMPTON )

Crude Oil

( CRUDEOIL )

Crude Oil Mini

( CRUDEOILM )

City Union Bank Ltd

( CUB )

Cummins India Ltd

( CUMMINSIND )

D

Dabur India Ltd

( DABUR )

Dalmia Bharat Limited

( DALBHARAT )

Deepak Nitrite Ltd

( DEEPAKNTR )

Divi S Laboratories Ltd

( DIVISLAB )

Dixon Techno (India) Ltd

( DIXON )

Dlf Limited

( DLF )

Dr. Reddy S Laboratories

( DRREDDY )

E

Eicher Motors Ltd

( EICHERMOT )

Escorts Kubota Limited

( ESCORTS )

Exide Industries Ltd

( EXIDEIND )

F

Federal Bank Ltd

( FEDERALBNK )

Nifty Financial Services

( FINNIFTY )

G

Gail (India) Ltd

( GAIL )

Glenmark Pharmaceuticals

( GLENMARK )

Gmr Airports Infra Ltd

( GMRINFRA )

Guj Nar Val Fer & Chem L

( GNFC )

Godrej Consumer Products

( GODREJCP )

Godrej Properties Ltd

( GODREJPROP )

Gold

( GOLD )

Gold Mini

( GOLDM )

Granules India Limited

( GRANULES )

Grasim Industries Ltd

( GRASIM )

Gujarat Gas Limited

( GUJGASLTD )

H

Hindustan Aeronautics Ltd

( HAL )

Havells India Limited

( HAVELLS )

Hcl Technologies Ltd

( HCLTECH )

Hdfc Amc Limited

( HDFCAMC )

Hdfc Bank Ltd

( HDFCBANK )

Hdfc Life Ins Co Ltd

( HDFCLIFE )

Hero Motocorp Limited

( HEROMOTOCO )

Hindalco Industries Ltd

( HINDALCO )

Hindustan Copper Ltd

( HINDCOPPER )

Hindustan Petroleum Corp

( HINDPETRO )

Hindustan Unilever Ltd.

( HINDUNILVR )

I

Icici Bank Ltd.

( ICICIBANK )

Icici Lombard Gic Limited

( ICICIGI )

Icici Pru Life Ins Co Ltd

( ICICIPRULI )

Vodafone Idea Limited

( IDEA )

Idfc Limited

( IDFC )

Idfc First Bank Limited

( IDFCFIRSTB )

Indian Energy Exc Ltd

( IEX )

Indraprastha Gas Ltd

( IGL )

The Indian Hotels Co. Ltd

( INDHOTEL )

Indiamart Intermesh Ltd

( INDIAMART )

Interglobe Aviation Ltd

( INDIGO )

Indusind Bank Limited

( INDUSINDBK )

Indus Towers Limited

( INDUSTOWER )

Infosys Limited

( INFY )

Indian Oil Corp Ltd

( IOC )

Ipca Laboratories Ltd

( IPCALAB )

Indian Rail Tour Corp Ltd

( IRCTC )

Itc Ltd

( ITC )

J

Jindal Steel & Power Ltd

( JINDALSTEL )

Jk Cement Limited

( JKCEMENT )

Jsw Steel Limited

( JSWSTEEL )

Jubilant Foodworks Ltd

( JUBLFOOD )

K

Kotak Mahindra Bank Ltd

( KOTAKBANK )

L

Dr. Lal Path Labs Ltd.

( LALPATHLAB )

Laurus Labs Limited

( LAURUSLABS )

Lic Housing Finance Ltd

( LICHSGFIN )

Larsen & Toubro Ltd.

( LT )

L&T Finance Limited

( LTF )

Ltimindtree Limited

( LTIM )

L&T Technology Ser. Ltd.

( LTTS )

Lupin Limited

( LUPIN )

M

Mahindra & Mahindra Ltd

( M&M )

M&M Fin. Services Ltd

( M&MFIN )

Manappuram Finance Ltd

( MANAPPURAM )

Marico Limited

( MARICO )

Maruti Suzuki India Ltd.

( MARUTI )

Multi Commodity Exchange

( MCX )

Metropolis Healthcare Ltd

( METROPOLIS )

Max Financial Serv Ltd

( MFSL )

Mahanagar Gas Ltd.

( MGL )

Nifty Midcap Select

( MIDCPNIFTY )

Samvrdhna Mthrsn Intl Ltd

( MOTHERSON )

Mphasis Limited

( MPHASIS )

Mrf Ltd

( MRF )

Muthoot Finance Limited

( MUTHOOTFIN )

N

Natural Gas Mini

( NATGASMINI )

National Aluminium Co Ltd

( NATIONALUM )

Natural Gas

( NATURALGAS )

Info Edge (I) Ltd

( NAUKRI )

Navin Fluorine Int. Ltd

( NAVINFLUOR )

Nestle India Limited

( NESTLEIND )

Nifty

( NIFTY )

Nifty Next 50

( NIFTYNXT50 )

Nmdc Ltd.

( NMDC )

Ntpc Ltd

( NTPC )

O

Oberoi Realty Limited

( OBEROIRLTY )

Oracle Fin Serv Soft Ltd.

( OFSS )

Oil And Natural Gas Corp.

( ONGC )

P

Page Industries Ltd

( PAGEIND )

Piramal Enterprises Ltd

( PEL )

Persistent Systems Ltd

( PERSISTENT )

Petronet Lng Limited

( PETRONET )

Power Fin Corp Ltd.

( PFC )

Pidilite Industries Ltd

( PIDILITIND )

Pi Industries Ltd

( PIIND )

Punjab National Bank

( PNB )

Polycab India Limited

( POLYCAB )

Power Grid Corp. Ltd.

( POWERGRID )

Pvr Inox Limited

( PVRINOX )

R

The Ramco Cements Limited

( RAMCOCEM )

Rbl Bank Limited

( RBLBANK )

Rec Limited

( RECLTD )

Reliance Industries Ltd

( RELIANCE )

S

Steel Authority Of India

( SAIL )

Sbi Cards & Pay Ser Ltd

( SBICARD )

Sbi Life Insurance Co Ltd

( SBILIFE )

State Bank Of India

( SBIN )

Sensex

( SENSEX )

Shree Cement Limited

( SHREECEM )

Shriram Finance Limited

( SHRIRAMFIN )

Siemens Ltd

( SIEMENS )

Silver

( SILVER )

Silver Mini

( SILVERM )

Srf Ltd

( SRF )

Sun Pharmaceutical Ind L

( SUNPHARMA )

Sun Tv Network Limited

( SUNTV )

Syngene International Ltd

( SYNGENE )

T

Tata Chemicals Ltd

( TATACHEM )

Tata Communications Ltd

( TATACOMM )

Tata Consumer Product Ltd

( TATACONSUM )

Tata Motors Limited

( TATAMOTORS )

Tata Power Co Ltd

( TATAPOWER )

Tata Steel Limited

( TATASTEEL )

Tata Consultancy Serv Lt

( TCS )

Tech Mahindra Limited

( TECHM )

Titan Company Limited

( TITAN )

Torrent Pharmaceuticals L

( TORNTPHARM )

Trent Ltd

( TRENT )

Tvs Motor Company Ltd

( TVSMOTOR )

U

United Breweries Ltd

( UBL )

Ultratech Cement Limited

( ULTRACEMCO )

United Spirits Limited

( UNITDSPR )

Upl Limited

( UPL )

Us Dollar To Indian Rupee

( USDINR )

V

Vedanta Limited

( VEDL )

Voltas Ltd

( VOLTAS )

W

Wipro Ltd

( WIPRO )

Z

Zinc

( ZINC )

Zydus Lifesciences Ltd

( ZYDUSLIFE )

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:
  1. Find the difference between stock price and strike price
  2. Multiply the result by open interest at that strike
  3. Add together the dollar value for the put and call at that strike
  4. Repeat for each strike price
  5. 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.