NIFTY
Nifty
Max pain for NIFTY
27 Sep 2024 04:11 PM IST
Max Pain for NIFTY is 26200
Strike 23050 has a total call value of 0 versus a total put value of 16,955,427,750,000 Combined total value = 16,955,427,750,000
Strike 23100 has a total call value of 0 versus a total put value of 16,548,215,750,000 Combined total value = 16,548,215,750,000
Strike 23150 has a total call value of 875,000 versus a total put value of 16,163,032,250,000 Combined total value = 16,163,033,125,000
Strike 23200 has a total call value of 1,750,000 versus a total put value of 15,778,467,125,000 Combined total value = 15,778,468,875,000
Strike 23250 has a total call value of 7,625,000 versus a total put value of 15,398,742,875,000 Combined total value = 15,398,750,500,000
Strike 23300 has a total call value of 13,500,000 versus a total put value of 15,019,402,250,000 Combined total value = 15,019,415,750,000
Strike 23350 has a total call value of 19,625,000 versus a total put value of 14,650,723,250,000 Combined total value = 14,650,742,875,000
Strike 23400 has a total call value of 25,750,000 versus a total put value of 14,282,143,750,000 Combined total value = 14,282,169,500,000
Strike 23450 has a total call value of 31,875,000 versus a total put value of 13,914,664,500,000 Combined total value = 13,914,696,375,000
Strike 23500 has a total call value of 38,000,000 versus a total put value of 13,547,344,250,000 Combined total value = 13,547,382,250,000
Strike 23550 has a total call value of 63,750,000 versus a total put value of 13,197,119,250,000 Combined total value = 13,197,183,000,000
Strike 23600 has a total call value of 89,500,000 versus a total put value of 12,847,489,375,000 Combined total value = 12,847,578,875,000
Strike 23650 has a total call value of 115,250,000 versus a total put value of 12,498,497,500,000 Combined total value = 12,498,612,750,000
Strike 23700 has a total call value of 141,000,000 versus a total put value of 12,149,616,500,000 Combined total value = 12,149,757,500,000
Strike 23750 has a total call value of 168,625,000 versus a total put value of 11,801,650,875,000 Combined total value = 11,801,819,500,000
Strike 23800 has a total call value of 196,250,000 versus a total put value of 11,453,956,250,000 Combined total value = 11,454,152,500,000
Strike 23850 has a total call value of 230,500,000 versus a total put value of 11,108,735,500,000 Combined total value = 11,108,966,000,000
Strike 23900 has a total call value of 264,750,000 versus a total put value of 10,764,697,125,000 Combined total value = 10,764,961,875,000
Strike 23950 has a total call value of 306,875,000 versus a total put value of 10,422,797,625,000 Combined total value = 10,423,104,500,000
Strike 24000 has a total call value of 349,000,000 versus a total put value of 10,081,951,625,000 Combined total value = 10,082,300,625,000
Strike 24050 has a total call value of 650,625,000 versus a total put value of 9,757,805,125,000 Combined total value = 9,758,455,750,000
Strike 24100 has a total call value of 952,250,000 versus a total put value of 9,434,839,250,000 Combined total value = 9,435,791,500,000
Strike 24150 has a total call value of 1,253,875,000 versus a total put value of 9,113,444,000,000 Combined total value = 9,114,697,875,000
Strike 24200 has a total call value of 1,555,500,000 versus a total put value of 8,793,042,375,000 Combined total value = 8,794,597,875,000
Strike 24250 has a total call value of 1,857,125,000 versus a total put value of 8,475,111,625,000 Combined total value = 8,476,968,750,000
Strike 24300 has a total call value of 2,158,750,000 versus a total put value of 8,159,028,500,000 Combined total value = 8,161,187,250,000
Strike 24350 has a total call value of 2,476,875,000 versus a total put value of 7,844,597,125,000 Combined total value = 7,847,074,000,000
Strike 24400 has a total call value of 2,795,000,000 versus a total put value of 7,530,262,500,000 Combined total value = 7,533,057,500,000
Strike 24450 has a total call value of 3,153,375,000 versus a total put value of 7,217,666,125,000 Combined total value = 7,220,819,500,000
Strike 24500 has a total call value of 3,511,750,000 versus a total put value of 6,905,304,625,000 Combined total value = 6,908,816,375,000
Strike 24550 has a total call value of 4,156,500,000 versus a total put value of 6,606,241,000,000 Combined total value = 6,610,397,500,000
Strike 24600 has a total call value of 4,801,250,000 versus a total put value of 6,307,845,500,000 Combined total value = 6,312,646,750,000
Strike 24650 has a total call value of 5,492,500,000 versus a total put value of 6,011,797,375,000 Combined total value = 6,017,289,875,000
Strike 24700 has a total call value of 6,183,750,000 versus a total put value of 5,716,485,375,000 Combined total value = 5,722,669,125,000
Strike 24750 has a total call value of 7,025,125,000 versus a total put value of 5,424,330,250,000 Combined total value = 5,431,355,375,000
Strike 24800 has a total call value of 7,866,500,000 versus a total put value of 5,133,046,875,000 Combined total value = 5,140,913,375,000
Strike 24850 has a total call value of 9,008,000,000 versus a total put value of 4,848,017,625,000 Combined total value = 4,857,025,625,000
Strike 24900 has a total call value of 10,149,500,000 versus a total put value of 4,564,114,625,000 Combined total value = 4,574,264,125,000
Strike 24950 has a total call value of 11,399,500,000 versus a total put value of 4,286,251,000,000 Combined total value = 4,297,650,500,000
Strike 25000 has a total call value of 12,678,125,000 versus a total put value of 4,010,118,250,000 Combined total value = 4,022,796,375,000
Strike 25050 has a total call value of 15,528,750,000 versus a total put value of 3,767,701,375,000 Combined total value = 3,783,230,125,000
Strike 25100 has a total call value of 18,418,250,000 versus a total put value of 3,526,275,250,000 Combined total value = 3,544,693,500,000
Strike 25150 has a total call value of 21,762,500,000 versus a total put value of 3,289,111,875,000 Combined total value = 3,310,874,375,000
Strike 25200 has a total call value of 25,132,750,000 versus a total put value of 3,055,463,125,000 Combined total value = 3,080,595,875,000
Strike 25250 has a total call value of 29,253,750,000 versus a total put value of 2,837,949,500,000 Combined total value = 2,867,203,250,000
Strike 25300 has a total call value of 33,490,250,000 versus a total put value of 2,622,870,875,000 Combined total value = 2,656,361,125,000
Strike 25350 has a total call value of 38,348,250,000 versus a total put value of 2,415,114,500,000 Combined total value = 2,453,462,750,000
Strike 25400 has a total call value of 43,259,250,000 versus a total put value of 2,210,100,125,000 Combined total value = 2,253,359,375,000
Strike 25450 has a total call value of 48,852,500,000 versus a total put value of 2,013,564,125,000 Combined total value = 2,062,416,625,000
Strike 25500 has a total call value of 54,495,125,000 versus a total put value of 1,819,572,000,000 Combined total value = 1,874,067,125,000
Strike 25550 has a total call value of 63,059,750,000 versus a total put value of 1,643,069,625,000 Combined total value = 1,706,129,375,000
Strike 25600 has a total call value of 71,766,625,000 versus a total put value of 1,470,149,000,000 Combined total value = 1,541,915,625,000
Strike 25650 has a total call value of 81,947,125,000 versus a total put value of 1,304,283,375,000 Combined total value = 1,386,230,500,000
Strike 25700 has a total call value of 92,306,625,000 versus a total put value of 1,141,476,500,000 Combined total value = 1,233,783,125,000
Strike 25750 has a total call value of 104,412,875,000 versus a total put value of 989,512,000,000 Combined total value = 1,093,924,875,000
Strike 25800 has a total call value of 116,756,625,000 versus a total put value of 840,671,250,000 Combined total value = 957,427,875,000
Strike 25850 has a total call value of 131,030,500,000 versus a total put value of 707,191,250,000 Combined total value = 838,221,750,000
Strike 25900 has a total call value of 145,678,375,000 versus a total put value of 579,708,625,000 Combined total value = 725,387,000,000
Strike 25950 has a total call value of 162,963,000,000 versus a total put value of 465,847,625,000 Combined total value = 628,810,625,000
Strike 26000 has a total call value of 180,993,250,000 versus a total put value of 357,563,375,000 Combined total value = 538,556,625,000
Strike 26050 has a total call value of 210,460,875,000 versus a total put value of 280,755,250,000 Combined total value = 491,216,125,000
Strike 26100 has a total call value of 243,181,625,000 versus a total put value of 210,466,625,000 Combined total value = 453,648,250,000
Strike 26150 has a total call value of 282,274,625,000 versus a total put value of 154,715,625,000 Combined total value = 436,990,250,000
Strike 26200 has a total call value of 325,966,750,000 versus a total put value of 104,983,000,000 Combined total value = 430,949,750,000
Strike 26250 has a total call value of 390,786,250,000 versus a total put value of 74,478,000,000 Combined total value = 465,264,250,000
Strike 26300 has a total call value of 471,189,500,000 versus a total put value of 53,738,250,000 Combined total value = 524,927,750,000
Strike 26350 has a total call value of 571,359,625,000 versus a total put value of 41,411,625,000 Combined total value = 612,771,250,000
Strike 26400 has a total call value of 677,552,375,000 versus a total put value of 30,459,625,000 Combined total value = 708,012,000,000
Strike 26450 has a total call value of 800,487,750,000 versus a total put value of 22,345,375,000 Combined total value = 822,833,125,000
Strike 26500 has a total call value of 929,719,625,000 versus a total put value of 14,941,750,000 Combined total value = 944,661,375,000
Strike 26550 has a total call value of 1,080,500,250,000 versus a total put value of 12,724,250,000 Combined total value = 1,093,224,500,000
Strike 26600 has a total call value of 1,237,370,375,000 versus a total put value of 10,638,625,000 Combined total value = 1,248,009,000,000
Strike 26650 has a total call value of 1,408,464,750,000 versus a total put value of 9,048,875,000 Combined total value = 1,417,513,625,000
Strike 26700 has a total call value of 1,584,469,125,000 versus a total put value of 7,503,375,000 Combined total value = 1,591,972,500,000
Strike 26750 has a total call value of 1,772,778,750,000 versus a total put value of 6,230,125,000 Combined total value = 1,779,008,875,000
Strike 26800 has a total call value of 1,968,146,125,000 versus a total put value of 5,002,500,000 Combined total value = 1,973,148,625,000
Strike 26850 has a total call value of 2,177,696,875,000 versus a total put value of 3,821,500,000 Combined total value = 2,181,518,375,000
Strike 26900 has a total call value of 2,392,440,375,000 versus a total put value of 2,642,500,000 Combined total value = 2,395,082,875,000
Strike 26950 has a total call value of 2,617,486,125,000 versus a total put value of 1,548,750,000 Combined total value = 2,619,034,875,000
Strike 27000 has a total call value of 2,845,061,750,000 versus a total put value of 455,750,000 Combined total value = 2,845,517,500,000
Strike 27050 has a total call value of 3,112,899,500,000 versus a total put value of 395,625,000 Combined total value = 3,113,295,125,000
Strike 27100 has a total call value of 3,383,885,875,000 versus a total put value of 335,500,000 Combined total value = 3,384,221,375,000
Strike 27150 has a total call value of 3,663,510,125,000 versus a total put value of 279,125,000 Combined total value = 3,663,789,250,000
Strike 27200 has a total call value of 3,945,321,625,000 versus a total put value of 223,000,000 Combined total value = 3,945,544,625,000
Strike 27250 has a total call value of 4,236,976,625,000 versus a total put value of 180,625,000 Combined total value = 4,237,157,250,000
Strike 27300 has a total call value of 4,530,469,625,000 versus a total put value of 138,250,000 Combined total value = 4,530,607,875,000
Strike 27350 has a total call value of 4,829,354,125,000 versus a total put value of 120,875,000 Combined total value = 4,829,475,000,000
Strike 27400 has a total call value of 5,129,656,750,000 versus a total put value of 103,500,000 Combined total value = 5,129,760,250,000
Strike 27450 has a total call value of 5,433,952,000,000 versus a total put value of 86,250,000 Combined total value = 5,434,038,250,000
Strike 27500 has a total call value of 5,739,978,250,000 versus a total put value of 69,000,000 Combined total value = 5,740,047,250,000
Strike 27550 has a total call value of 6,083,712,875,000 versus a total put value of 51,750,000 Combined total value = 6,083,764,625,000
Strike 27600 has a total call value of 6,430,512,250,000 versus a total put value of 34,500,000 Combined total value = 6,430,546,750,000
Strike 27650 has a total call value of 6,784,112,875,000 versus a total put value of 17,250,000 Combined total value = 6,784,130,125,000
Strike 27700 has a total call value of 7,139,434,750,000 versus a total put value of 0 Combined total value = 7,139,434,750,000
Strike 27750 has a total call value of 7,524,685,250,000 versus a total put value of 0 Combined total value = 7,524,685,250,000
Strike 27800 has a total call value of 7,917,758,125,000 versus a total put value of 0 Combined total value = 7,917,758,125,000
Strike 27850 has a total call value of 8,314,355,875,000 versus a total put value of 0 Combined total value = 8,314,355,875,000
Strike 27900 has a total call value of 8,713,639,750,000 versus a total put value of 0 Combined total value = 8,713,639,750,000
Strike 27950 has a total call value of 9,118,375,375,000 versus a total put value of 0 Combined total value = 9,118,375,375,000
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.