NIFTY
Nifty
Max pain for NIFTY
18 Oct 2024 10:33 AM IST
Max Pain for NIFTY is 24800
Strike 23000 has a total call value of 0 versus a total put value of 5,882,810,375,000 Combined total value = 5,882,810,375,000
Strike 23050 has a total call value of 6,625,000 versus a total put value of 5,630,471,125,000 Combined total value = 5,630,477,750,000
Strike 23100 has a total call value of 13,250,000 versus a total put value of 5,390,265,750,000 Combined total value = 5,390,279,000,000
Strike 23150 has a total call value of 20,500,000 versus a total put value of 5,161,017,000,000 Combined total value = 5,161,037,500,000
Strike 23200 has a total call value of 27,750,000 versus a total put value of 4,932,998,750,000 Combined total value = 4,933,026,500,000
Strike 23250 has a total call value of 35,000,000 versus a total put value of 4,711,404,875,000 Combined total value = 4,711,439,875,000
Strike 23300 has a total call value of 42,250,000 versus a total put value of 4,490,329,375,000 Combined total value = 4,490,371,625,000
Strike 23350 has a total call value of 49,500,000 versus a total put value of 4,272,078,625,000 Combined total value = 4,272,128,125,000
Strike 23400 has a total call value of 56,750,000 versus a total put value of 4,054,422,500,000 Combined total value = 4,054,479,250,000
Strike 23450 has a total call value of 65,375,000 versus a total put value of 3,840,411,625,000 Combined total value = 3,840,477,000,000
Strike 23500 has a total call value of 74,000,000 versus a total put value of 3,627,400,625,000 Combined total value = 3,627,474,625,000
Strike 23550 has a total call value of 129,000,000 versus a total put value of 3,434,731,250,000 Combined total value = 3,434,860,250,000
Strike 23600 has a total call value of 184,000,000 versus a total put value of 3,242,993,375,000 Combined total value = 3,243,177,375,000
Strike 23650 has a total call value of 250,375,000 versus a total put value of 3,055,818,500,000 Combined total value = 3,056,068,875,000
Strike 23700 has a total call value of 316,750,000 versus a total put value of 2,869,813,250,000 Combined total value = 2,870,130,000,000
Strike 23750 has a total call value of 395,625,000 versus a total put value of 2,689,268,875,000 Combined total value = 2,689,664,500,000
Strike 23800 has a total call value of 474,500,000 versus a total put value of 2,509,846,500,000 Combined total value = 2,510,321,000,000
Strike 23850 has a total call value of 568,875,000 versus a total put value of 2,338,832,500,000 Combined total value = 2,339,401,375,000
Strike 23900 has a total call value of 663,250,000 versus a total put value of 2,169,307,375,000 Combined total value = 2,169,970,625,000
Strike 23950 has a total call value of 778,250,000 versus a total put value of 2,004,861,500,000 Combined total value = 2,005,639,750,000
Strike 24000 has a total call value of 893,250,000 versus a total put value of 1,842,101,375,000 Combined total value = 1,842,994,625,000
Strike 24050 has a total call value of 1,447,000,000 versus a total put value of 1,694,233,250,000 Combined total value = 1,695,680,250,000
Strike 24100 has a total call value of 2,006,750,000 versus a total put value of 1,547,754,125,000 Combined total value = 1,549,760,875,000
Strike 24150 has a total call value of 2,638,750,000 versus a total put value of 1,408,104,625,000 Combined total value = 1,410,743,375,000
Strike 24200 has a total call value of 3,287,625,000 versus a total put value of 1,272,093,000,000 Combined total value = 1,275,380,625,000
Strike 24250 has a total call value of 4,132,125,000 versus a total put value of 1,143,444,375,000 Combined total value = 1,147,576,500,000
Strike 24300 has a total call value of 5,024,000,000 versus a total put value of 1,017,046,625,000 Combined total value = 1,022,070,625,000
Strike 24350 has a total call value of 6,218,875,000 versus a total put value of 898,209,250,000 Combined total value = 904,428,125,000
Strike 24400 has a total call value of 7,519,625,000 versus a total put value of 781,826,875,000 Combined total value = 789,346,500,000
Strike 24450 has a total call value of 9,851,000,000 versus a total put value of 673,793,125,000 Combined total value = 683,644,125,000
Strike 24500 has a total call value of 12,425,625,000 versus a total put value of 569,251,875,000 Combined total value = 581,677,500,000
Strike 24550 has a total call value of 17,652,000,000 versus a total put value of 483,713,500,000 Combined total value = 501,365,500,000
Strike 24600 has a total call value of 24,503,625,000 versus a total put value of 403,739,250,000 Combined total value = 428,242,875,000
Strike 24650 has a total call value of 38,178,750,000 versus a total put value of 339,196,625,000 Combined total value = 377,375,375,000
Strike 24700 has a total call value of 56,361,250,000 versus a total put value of 282,158,375,000 Combined total value = 338,519,625,000
Strike 24750 has a total call value of 88,310,625,000 versus a total put value of 239,441,750,000 Combined total value = 327,752,375,000
Strike 24800 has a total call value of 126,330,000,000 versus a total put value of 201,116,875,000 Combined total value = 327,446,875,000
Strike 24850 has a total call value of 182,042,750,000 versus a total put value of 173,443,875,000 Combined total value = 355,486,625,000
Strike 24900 has a total call value of 242,835,375,000 versus a total put value of 147,425,250,000 Combined total value = 390,260,625,000
Strike 24950 has a total call value of 317,057,750,000 versus a total put value of 125,800,750,000 Combined total value = 442,858,500,000
Strike 25000 has a total call value of 396,237,500,000 versus a total put value of 105,203,250,000 Combined total value = 501,440,750,000
Strike 25050 has a total call value of 506,228,375,000 versus a total put value of 92,758,500,000 Combined total value = 598,986,875,000
Strike 25100 has a total call value of 620,567,625,000 versus a total put value of 80,942,500,000 Combined total value = 701,510,125,000
Strike 25150 has a total call value of 749,145,750,000 versus a total put value of 71,598,125,000 Combined total value = 820,743,875,000
Strike 25200 has a total call value of 882,693,000,000 versus a total put value of 62,517,000,000 Combined total value = 945,210,000,000
Strike 25250 has a total call value of 1,027,535,250,000 versus a total put value of 55,260,500,000 Combined total value = 1,082,795,750,000
Strike 25300 has a total call value of 1,175,950,375,000 versus a total put value of 48,110,875,000 Combined total value = 1,224,061,250,000
Strike 25350 has a total call value of 1,338,395,500,000 versus a total put value of 41,999,375,000 Combined total value = 1,380,394,875,000
Strike 25400 has a total call value of 1,505,466,625,000 versus a total put value of 36,023,125,000 Combined total value = 1,541,489,750,000
Strike 25450 has a total call value of 1,683,276,375,000 versus a total put value of 30,818,500,000 Combined total value = 1,714,094,875,000
Strike 25500 has a total call value of 1,865,197,875,000 versus a total put value of 25,706,750,000 Combined total value = 1,890,904,625,000
Strike 25550 has a total call value of 2,069,672,375,000 versus a total put value of 22,248,000,000 Combined total value = 2,091,920,375,000
Strike 25600 has a total call value of 2,277,263,625,000 versus a total put value of 18,832,125,000 Combined total value = 2,296,095,750,000
Strike 25650 has a total call value of 2,496,562,125,000 versus a total put value of 16,108,500,000 Combined total value = 2,512,670,625,000
Strike 25700 has a total call value of 2,717,796,500,000 versus a total put value of 13,392,750,000 Combined total value = 2,731,189,250,000
Strike 25750 has a total call value of 2,952,751,625,000 versus a total put value of 11,076,125,000 Combined total value = 2,963,827,750,000
Strike 25800 has a total call value of 3,190,304,125,000 versus a total put value of 8,794,375,000 Combined total value = 3,199,098,500,000
Strike 25850 has a total call value of 3,440,967,125,000 versus a total put value of 7,064,125,000 Combined total value = 3,448,031,250,000
Strike 25900 has a total call value of 3,693,515,250,000 versus a total put value of 5,340,250,000 Combined total value = 3,698,855,500,000
Strike 25950 has a total call value of 3,949,908,375,000 versus a total put value of 3,889,625,000 Combined total value = 3,953,798,000,000
Strike 26000 has a total call value of 4,207,464,750,000 versus a total put value of 2,439,000,000 Combined total value = 4,209,903,750,000
Strike 26050 has a total call value of 4,494,491,000,000 versus a total put value of 2,001,250,000 Combined total value = 4,496,492,250,000
Strike 26100 has a total call value of 4,782,278,125,000 versus a total put value of 1,563,500,000 Combined total value = 4,783,841,625,000
Strike 26150 has a total call value of 5,074,278,125,000 versus a total put value of 1,268,500,000 Combined total value = 5,075,546,625,000
Strike 26200 has a total call value of 5,366,887,250,000 versus a total put value of 993,125,000 Combined total value = 5,367,880,375,000
Strike 26250 has a total call value of 5,664,467,875,000 versus a total put value of 818,750,000 Combined total value = 5,665,286,625,000
Strike 26300 has a total call value of 5,962,495,625,000 versus a total put value of 664,250,000 Combined total value = 5,963,159,875,000
Strike 26350 has a total call value of 6,265,122,250,000 versus a total put value of 509,750,000 Combined total value = 6,265,632,000,000
Strike 26400 has a total call value of 6,568,072,000,000 versus a total put value of 355,250,000 Combined total value = 6,568,427,250,000
Strike 26450 has a total call value of 6,873,142,750,000 versus a total put value of 224,250,000 Combined total value = 6,873,367,000,000
Strike 26500 has a total call value of 7,178,486,500,000 versus a total put value of 93,250,000 Combined total value = 7,178,579,750,000
Strike 26550 has a total call value of 7,498,023,000,000 versus a total put value of 87,250,000 Combined total value = 7,498,110,250,000
Strike 26600 has a total call value of 7,817,876,500,000 versus a total put value of 81,250,000 Combined total value = 7,817,957,750,000
Strike 26650 has a total call value of 8,138,748,125,000 versus a total put value of 75,250,000 Combined total value = 8,138,823,375,000
Strike 26700 has a total call value of 8,459,884,375,000 versus a total put value of 69,250,000 Combined total value = 8,459,953,625,000
Strike 26750 has a total call value of 8,781,718,750,000 versus a total put value of 63,250,000 Combined total value = 8,781,782,000,000
Strike 26800 has a total call value of 9,103,810,125,000 versus a total put value of 57,250,000 Combined total value = 9,103,867,375,000
Strike 26850 has a total call value of 9,427,074,125,000 versus a total put value of 51,250,000 Combined total value = 9,427,125,375,000
Strike 26900 has a total call value of 9,750,510,375,000 versus a total put value of 45,250,000 Combined total value = 9,750,555,625,000
Strike 26950 has a total call value of 10,074,488,625,000 versus a total put value of 39,250,000 Combined total value = 10,074,527,875,000
Strike 27000 has a total call value of 10,398,608,000,000 versus a total put value of 33,625,000 Combined total value = 10,398,641,625,000
Strike 27050 has a total call value of 10,739,300,375,000 versus a total put value of 30,125,000 Combined total value = 10,739,330,500,000
Strike 27100 has a total call value of 11,080,118,000,000 versus a total put value of 26,625,000 Combined total value = 11,080,144,625,000
Strike 27150 has a total call value of 11,421,446,000,000 versus a total put value of 23,625,000 Combined total value = 11,421,469,625,000
Strike 27200 has a total call value of 11,762,889,625,000 versus a total put value of 20,625,000 Combined total value = 11,762,910,250,000
Strike 27250 has a total call value of 12,104,621,000,000 versus a total put value of 17,625,000 Combined total value = 12,104,638,625,000
Strike 27300 has a total call value of 12,446,464,250,000 versus a total put value of 14,625,000 Combined total value = 12,446,478,875,000
Strike 27350 has a total call value of 12,788,849,250,000 versus a total put value of 12,625,000 Combined total value = 12,788,861,875,000
Strike 27400 has a total call value of 13,131,359,625,000 versus a total put value of 10,625,000 Combined total value = 13,131,370,250,000
Strike 27450 has a total call value of 13,474,624,875,000 versus a total put value of 8,625,000 Combined total value = 13,474,633,500,000
Strike 27500 has a total call value of 13,817,963,500,000 versus a total put value of 7,250,000 Combined total value = 13,817,970,750,000
Strike 27550 has a total call value of 14,174,218,250,000 versus a total put value of 5,875,000 Combined total value = 14,174,224,125,000
Strike 27600 has a total call value of 14,530,744,500,000 versus a total put value of 4,500,000 Combined total value = 14,530,749,000,000
Strike 27650 has a total call value of 14,892,246,125,000 versus a total put value of 3,125,000 Combined total value = 14,892,249,250,000
Strike 27700 has a total call value of 15,253,891,250,000 versus a total put value of 1,750,000 Combined total value = 15,253,893,000,000
Strike 27750 has a total call value of 15,620,338,875,000 versus a total put value of 375,000 Combined total value = 15,620,339,250,000
Strike 27800 has a total call value of 15,987,212,250,000 versus a total put value of 0 Combined total value = 15,987,212,250,000
Strike 27850 has a total call value of 16,360,042,250,000 versus a total put value of 0 Combined total value = 16,360,042,250,000
Strike 27900 has a total call value of 16,734,285,625,000 versus a total put value of 0 Combined total value = 16,734,285,625,000
Strike 27950 has a total call value of 17,119,751,250,000 versus a total put value of 0 Combined total value = 17,119,751,250,000
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.