NIFTYNXT50
Nifty Next 50
Max pain for NIFTYNXT50
12 Nov 2024 04:10 PM IST
Max Pain for NIFTYNXT50 is 70000
Strike 66000 has a total call value of 0 versus a total put value of 1,849,900,000 Combined total value = 1,849,900,000
Strike 66100 has a total call value of 0 versus a total put value of 1,796,800,000 Combined total value = 1,796,800,000
Strike 66200 has a total call value of 0 versus a total put value of 1,743,700,000 Combined total value = 1,743,700,000
Strike 66300 has a total call value of 0 versus a total put value of 1,690,600,000 Combined total value = 1,690,600,000
Strike 66400 has a total call value of 0 versus a total put value of 1,637,500,000 Combined total value = 1,637,500,000
Strike 66500 has a total call value of 0 versus a total put value of 1,584,400,000 Combined total value = 1,584,400,000
Strike 66600 has a total call value of 0 versus a total put value of 1,531,300,000 Combined total value = 1,531,300,000
Strike 66700 has a total call value of 0 versus a total put value of 1,478,200,000 Combined total value = 1,478,200,000
Strike 66800 has a total call value of 0 versus a total put value of 1,425,100,000 Combined total value = 1,425,100,000
Strike 66900 has a total call value of 0 versus a total put value of 1,372,000,000 Combined total value = 1,372,000,000
Strike 67000 has a total call value of 0 versus a total put value of 1,318,900,000 Combined total value = 1,318,900,000
Strike 67100 has a total call value of 0 versus a total put value of 1,265,800,000 Combined total value = 1,265,800,000
Strike 67200 has a total call value of 0 versus a total put value of 1,212,700,000 Combined total value = 1,212,700,000
Strike 67300 has a total call value of 0 versus a total put value of 1,159,600,000 Combined total value = 1,159,600,000
Strike 67400 has a total call value of 0 versus a total put value of 1,106,500,000 Combined total value = 1,106,500,000
Strike 67500 has a total call value of 0 versus a total put value of 1,053,400,000 Combined total value = 1,053,400,000
Strike 67600 has a total call value of 0 versus a total put value of 1,000,300,000 Combined total value = 1,000,300,000
Strike 67700 has a total call value of 0 versus a total put value of 947,200,000 Combined total value = 947,200,000
Strike 67800 has a total call value of 0 versus a total put value of 894,100,000 Combined total value = 894,100,000
Strike 67900 has a total call value of 0 versus a total put value of 841,000,000 Combined total value = 841,000,000
Strike 68000 has a total call value of 0 versus a total put value of 787,900,000 Combined total value = 787,900,000
Strike 68100 has a total call value of 0 versus a total put value of 744,700,000 Combined total value = 744,700,000
Strike 68200 has a total call value of 0 versus a total put value of 701,500,000 Combined total value = 701,500,000
Strike 68300 has a total call value of 0 versus a total put value of 658,300,000 Combined total value = 658,300,000
Strike 68400 has a total call value of 0 versus a total put value of 615,100,000 Combined total value = 615,100,000
Strike 68500 has a total call value of 0 versus a total put value of 571,900,000 Combined total value = 571,900,000
Strike 68600 has a total call value of 0 versus a total put value of 528,700,000 Combined total value = 528,700,000
Strike 68700 has a total call value of 0 versus a total put value of 485,500,000 Combined total value = 485,500,000
Strike 68800 has a total call value of 0 versus a total put value of 442,300,000 Combined total value = 442,300,000
Strike 68900 has a total call value of 0 versus a total put value of 399,100,000 Combined total value = 399,100,000
Strike 69000 has a total call value of 0 versus a total put value of 355,900,000 Combined total value = 355,900,000
Strike 69100 has a total call value of 300,000 versus a total put value of 318,600,000 Combined total value = 318,900,000
Strike 69200 has a total call value of 600,000 versus a total put value of 281,300,000 Combined total value = 281,900,000
Strike 69300 has a total call value of 900,000 versus a total put value of 244,000,000 Combined total value = 244,900,000
Strike 69400 has a total call value of 1,200,000 versus a total put value of 207,800,000 Combined total value = 209,000,000
Strike 69500 has a total call value of 1,500,000 versus a total put value of 172,200,000 Combined total value = 173,700,000
Strike 69600 has a total call value of 3,300,000 versus a total put value of 137,900,000 Combined total value = 141,200,000
Strike 69700 has a total call value of 6,500,000 versus a total put value of 106,900,000 Combined total value = 113,400,000
Strike 69800 has a total call value of 10,900,000 versus a total put value of 76,700,000 Combined total value = 87,600,000
Strike 69900 has a total call value of 15,800,000 versus a total put value of 47,500,000 Combined total value = 63,300,000
Strike 70000 has a total call value of 20,700,000 versus a total put value of 18,300,000 Combined total value = 39,000,000
Strike 70100 has a total call value of 33,700,000 versus a total put value of 16,200,000 Combined total value = 49,900,000
Strike 70200 has a total call value of 46,700,000 versus a total put value of 14,400,000 Combined total value = 61,100,000
Strike 70300 has a total call value of 61,100,000 versus a total put value of 12,600,000 Combined total value = 73,700,000
Strike 70400 has a total call value of 75,500,000 versus a total put value of 10,800,000 Combined total value = 86,300,000
Strike 70500 has a total call value of 89,900,000 versus a total put value of 9,000,000 Combined total value = 98,900,000
Strike 70600 has a total call value of 108,700,000 versus a total put value of 7,200,000 Combined total value = 115,900,000
Strike 70700 has a total call value of 127,500,000 versus a total put value of 5,400,000 Combined total value = 132,900,000
Strike 70800 has a total call value of 146,400,000 versus a total put value of 3,600,000 Combined total value = 150,000,000
Strike 70900 has a total call value of 165,300,000 versus a total put value of 1,800,000 Combined total value = 167,100,000
Strike 71000 has a total call value of 184,300,000 versus a total put value of 0 Combined total value = 184,300,000
Strike 71100 has a total call value of 217,900,000 versus a total put value of 0 Combined total value = 217,900,000
Strike 71200 has a total call value of 251,500,000 versus a total put value of 0 Combined total value = 251,500,000
Strike 71300 has a total call value of 288,700,000 versus a total put value of 0 Combined total value = 288,700,000
Strike 71400 has a total call value of 325,900,000 versus a total put value of 0 Combined total value = 325,900,000
Strike 71500 has a total call value of 363,300,000 versus a total put value of 0 Combined total value = 363,300,000
Strike 71600 has a total call value of 401,700,000 versus a total put value of 0 Combined total value = 401,700,000
Strike 71700 has a total call value of 440,100,000 versus a total put value of 0 Combined total value = 440,100,000
Strike 71800 has a total call value of 478,500,000 versus a total put value of 0 Combined total value = 478,500,000
Strike 71900 has a total call value of 516,900,000 versus a total put value of 0 Combined total value = 516,900,000
Strike 72000 has a total call value of 555,300,000 versus a total put value of 0 Combined total value = 555,300,000
Strike 72100 has a total call value of 593,700,000 versus a total put value of 0 Combined total value = 593,700,000
Strike 72200 has a total call value of 632,100,000 versus a total put value of 0 Combined total value = 632,100,000
Strike 72300 has a total call value of 670,500,000 versus a total put value of 0 Combined total value = 670,500,000
Strike 72400 has a total call value of 708,900,000 versus a total put value of 0 Combined total value = 708,900,000
Strike 72500 has a total call value of 747,300,000 versus a total put value of 0 Combined total value = 747,300,000
Strike 72600 has a total call value of 785,800,000 versus a total put value of 0 Combined total value = 785,800,000
Strike 72700 has a total call value of 824,300,000 versus a total put value of 0 Combined total value = 824,300,000
Strike 72800 has a total call value of 862,800,000 versus a total put value of 0 Combined total value = 862,800,000
Strike 72900 has a total call value of 901,300,000 versus a total put value of 0 Combined total value = 901,300,000
Strike 73000 has a total call value of 939,800,000 versus a total put value of 0 Combined total value = 939,800,000
Strike 73100 has a total call value of 979,900,000 versus a total put value of 0 Combined total value = 979,900,000
Strike 73200 has a total call value of 1,020,000,000 versus a total put value of 0 Combined total value = 1,020,000,000
Strike 73300 has a total call value of 1,060,100,000 versus a total put value of 0 Combined total value = 1,060,100,000
Strike 73400 has a total call value of 1,100,200,000 versus a total put value of 0 Combined total value = 1,100,200,000
Strike 73500 has a total call value of 1,140,300,000 versus a total put value of 0 Combined total value = 1,140,300,000
Strike 73600 has a total call value of 1,180,400,000 versus a total put value of 0 Combined total value = 1,180,400,000
Strike 73700 has a total call value of 1,220,600,000 versus a total put value of 0 Combined total value = 1,220,600,000
Strike 73800 has a total call value of 1,260,900,000 versus a total put value of 0 Combined total value = 1,260,900,000
Strike 73900 has a total call value of 1,301,200,000 versus a total put value of 0 Combined total value = 1,301,200,000
Strike 74000 has a total call value of 1,341,500,000 versus a total put value of 0 Combined total value = 1,341,500,000
Strike 74100 has a total call value of 1,381,800,000 versus a total put value of 0 Combined total value = 1,381,800,000
Strike 74200 has a total call value of 1,422,100,000 versus a total put value of 0 Combined total value = 1,422,100,000
Strike 74300 has a total call value of 1,462,400,000 versus a total put value of 0 Combined total value = 1,462,400,000
Strike 74400 has a total call value of 1,502,700,000 versus a total put value of 0 Combined total value = 1,502,700,000
Strike 74500 has a total call value of 1,543,000,000 versus a total put value of 0 Combined total value = 1,543,000,000
Strike 74600 has a total call value of 1,583,300,000 versus a total put value of 0 Combined total value = 1,583,300,000
Strike 74700 has a total call value of 1,623,600,000 versus a total put value of 0 Combined total value = 1,623,600,000
Strike 74800 has a total call value of 1,663,900,000 versus a total put value of 0 Combined total value = 1,663,900,000
Strike 74900 has a total call value of 1,704,200,000 versus a total put value of 0 Combined total value = 1,704,200,000
Strike 75000 has a total call value of 1,744,500,000 versus a total put value of 0 Combined total value = 1,744,500,000
Strike 75100 has a total call value of 1,784,900,000 versus a total put value of 0 Combined total value = 1,784,900,000
Strike 75200 has a total call value of 1,825,300,000 versus a total put value of 0 Combined total value = 1,825,300,000
Strike 75300 has a total call value of 1,865,700,000 versus a total put value of 0 Combined total value = 1,865,700,000
Strike 75400 has a total call value of 1,906,100,000 versus a total put value of 0 Combined total value = 1,906,100,000
Strike 75500 has a total call value of 1,946,600,000 versus a total put value of 0 Combined total value = 1,946,600,000
Strike 75600 has a total call value of 1,987,200,000 versus a total put value of 0 Combined total value = 1,987,200,000
Strike 75700 has a total call value of 2,027,800,000 versus a total put value of 0 Combined total value = 2,027,800,000
Strike 75800 has a total call value of 2,068,400,000 versus a total put value of 0 Combined total value = 2,068,400,000
Strike 75900 has a total call value of 2,109,100,000 versus a total put value of 0 Combined total value = 2,109,100,000
Strike 76000 has a total call value of 2,149,800,000 versus a total put value of 0 Combined total value = 2,149,800,000
Strike 76100 has a total call value of 2,190,600,000 versus a total put value of 0 Combined total value = 2,190,600,000
Strike 76200 has a total call value of 2,231,400,000 versus a total put value of 0 Combined total value = 2,231,400,000
Strike 76300 has a total call value of 2,272,200,000 versus a total put value of 0 Combined total value = 2,272,200,000
Strike 76400 has a total call value of 2,313,000,000 versus a total put value of 0 Combined total value = 2,313,000,000
Strike 76500 has a total call value of 2,353,800,000 versus a total put value of 0 Combined total value = 2,353,800,000
Strike 76600 has a total call value of 2,394,600,000 versus a total put value of 0 Combined total value = 2,394,600,000
Strike 76700 has a total call value of 2,435,400,000 versus a total put value of 0 Combined total value = 2,435,400,000
Strike 76800 has a total call value of 2,476,200,000 versus a total put value of 0 Combined total value = 2,476,200,000
Strike 76900 has a total call value of 2,517,000,000 versus a total put value of 0 Combined total value = 2,517,000,000
Strike 77000 has a total call value of 2,557,800,000 versus a total put value of 0 Combined total value = 2,557,800,000
Strike 77100 has a total call value of 2,598,600,000 versus a total put value of 0 Combined total value = 2,598,600,000
Strike 77200 has a total call value of 2,639,400,000 versus a total put value of 0 Combined total value = 2,639,400,000
Strike 77300 has a total call value of 2,680,200,000 versus a total put value of 0 Combined total value = 2,680,200,000
Strike 77400 has a total call value of 2,721,000,000 versus a total put value of 0 Combined total value = 2,721,000,000
Strike 77500 has a total call value of 2,761,800,000 versus a total put value of 0 Combined total value = 2,761,800,000
Strike 77600 has a total call value of 2,802,600,000 versus a total put value of 0 Combined total value = 2,802,600,000
Strike 77700 has a total call value of 2,843,400,000 versus a total put value of 0 Combined total value = 2,843,400,000
Strike 77800 has a total call value of 2,884,200,000 versus a total put value of 0 Combined total value = 2,884,200,000
Strike 77900 has a total call value of 2,925,000,000 versus a total put value of 0 Combined total value = 2,925,000,000
Strike 78000 has a total call value of 2,965,800,000 versus a total put value of 0 Combined total value = 2,965,800,000
Strike 78100 has a total call value of 3,006,600,000 versus a total put value of 0 Combined total value = 3,006,600,000
Strike 78200 has a total call value of 3,047,400,000 versus a total put value of 0 Combined total value = 3,047,400,000
Strike 78300 has a total call value of 3,088,200,000 versus a total put value of 0 Combined total value = 3,088,200,000
Strike 78400 has a total call value of 3,129,000,000 versus a total put value of 0 Combined total value = 3,129,000,000
Strike 78500 has a total call value of 3,169,800,000 versus a total put value of 0 Combined total value = 3,169,800,000
Strike 78600 has a total call value of 3,210,600,000 versus a total put value of 0 Combined total value = 3,210,600,000
Strike 78700 has a total call value of 3,251,400,000 versus a total put value of 0 Combined total value = 3,251,400,000
Strike 78800 has a total call value of 3,292,200,000 versus a total put value of 0 Combined total value = 3,292,200,000
Strike 78900 has a total call value of 3,333,000,000 versus a total put value of 0 Combined total value = 3,333,000,000
Strike 79000 has a total call value of 3,373,800,000 versus a total put value of 0 Combined total value = 3,373,800,000
Strike 79100 has a total call value of 3,414,600,000 versus a total put value of 0 Combined total value = 3,414,600,000
Strike 79200 has a total call value of 3,455,400,000 versus a total put value of 0 Combined total value = 3,455,400,000
Strike 79300 has a total call value of 3,496,200,000 versus a total put value of 0 Combined total value = 3,496,200,000
Strike 79400 has a total call value of 3,537,000,000 versus a total put value of 0 Combined total value = 3,537,000,000
Strike 79500 has a total call value of 3,577,800,000 versus a total put value of 0 Combined total value = 3,577,800,000
Strike 79600 has a total call value of 3,618,600,000 versus a total put value of 0 Combined total value = 3,618,600,000
Strike 79700 has a total call value of 3,660,200,000 versus a total put value of 0 Combined total value = 3,660,200,000
Strike 79800 has a total call value of 3,701,800,000 versus a total put value of 0 Combined total value = 3,701,800,000
Strike 79900 has a total call value of 3,743,400,000 versus a total put value of 0 Combined total value = 3,743,400,000
Strike 80000 has a total call value of 3,785,000,000 versus a total put value of 0 Combined total value = 3,785,000,000
Max-Pain Table for Monthly Expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| AARTIIND | 432.2 | 460 |
| ABB | 6834.45 | 7100 |
| ABBOTINDIA | 27938.25 | 29000 |
| ABCAPITAL | 189.71 | 205 |
| ABFRL | 290.45 | 300 |
| ACC | 2219.5 | 2400 |
| ADANIENT | 2842.55 | 3000 |
| ADANIPORTS | 1304 | 1360 |
| ALKEM | 5387.7 | 5500 |
| AMBUJACEM | 546.75 | 580 |
| APOLLOHOSP | 6885.6 | 7100 |
| APOLLOTYRE | 461.25 | 480 |
| ASHOKLEY | 216.34 | 220 |
| ASIANPAINT | 2456.35 | 2560 |
| ASTRAL | 1734.1 | 1800 |
| ATUL | 7280 | 7600 |
| AUBANK | 564.55 | 600 |
| AUROPHARMA | 1254.65 | 1300 |
| AXISBANK | 1147.4 | 1170 |
| BAJAJ-AUTO | 9459.2 | 9800 |
| BAJAJFINSV | 1674.25 | 1720 |
| BAJFINANCE | 6590.35 | 6800 |
| BALKRISIND | 2693.8 | 2800 |
| BANDHANBNK | 166.25 | 180 |
| BANKBARODA | 248.2 | 255 |
| BATAINDIA | 1329.8 | 1340 |
| BEL | 283.45 | 290 |
| BERGEPAINT | 487.2 | 510 |
| BHARATFORG | 1327.55 | 1400 |
| BHARTIARTL | 1551.4 | 1600 |
| BHEL | 225.31 | 240 |
| BIOCON | 333.2 | 335 |
| BOSCHLTD | 33013 | 34000 |
| BPCL | 307.25 | 310 |
| BRITANNIA | 5049.45 | 5150 |
| BSOFT | 555.6 | 570 |
| CANBK | 99.6 | 104 |
| CANFINHOME | 820.95 | 850 |
| CHAMBLFERT | 468.35 | 490 |
| CHOLAFIN | 1206.6 | 1280 |
| CIPLA | 1519.05 | 1560 |
| COALINDIA | 409.5 | 430 |
| COFORGE | 8107.85 | 8000 |
| COLPAL | 2768.8 | 2900 |
| CONCOR | 793.3 | 840 |
| COROMANDEL | 1697.5 | 1700 |
| CROMPTON | 383.6 | 400 |
| CUB | 170.18 | 175 |
| CUMMINSIND | 3368.4 | 3500 |
| DABUR | 511.3 | 535 |
| DALBHARAT | 1771.3 | 1800 |
| DEEPAKNTR | 2506.1 | 2650 |
| DIVISLAB | 5770 | 5900 |
| DIXON | 14780 | 14500 |
| DLF | 749.5 | 790 |
| DRREDDY | 1248.95 | 1280 |
| EICHERMOT | 4584.3 | 4750 |
| ESCORTS | 3503.3 | 3600 |
| EXIDEIND | 423.6 | 450 |
| FEDERALBNK | 202.41 | 202.5 |
| GAIL | 190.38 | 205 |
| GLENMARK | 1539.1 | 1620 |
| GMRINFRA | 76.7 | 82 |
| GNFC | 553.4 | 600 |
| GODREJCP | 1177.3 | 1220 |
| GODREJPROP | 2593.15 | 2800 |
| GRANULES | 545.45 | 570 |
| GRASIM | 2499.85 | 2560 |
| GUJGASLTD | 495 | 520 |
| HAL | 4086.1 | 4400 |
| HAVELLS | 1601.75 | 1640 |
| HCLTECH | 1866.95 | 1820 |
| HDFCAMC | 4292.45 | 4400 |
| HDFCBANK | 1705.6 | 1730 |
| HDFCLIFE | 690.5 | 710 |
| HEROMOTOCO | 4561.65 | 4800 |
| HINDALCO | 625.7 | 650 |
| HINDCOPPER | 264.8 | 290 |
| HINDPETRO | 373.2 | 380 |
| HINDUNILVR | 2462.55 | 2500 |
| ICICIBANK | 1264.75 | 1270 |
| ICICIGI | 1885 | 1900 |
| ICICIPRULI | 690.65 | 720 |
| IDEA | 7.47 | 8 |
| IDFCFIRSTB | 64.43 | 66 |
| IEX | 163.7 | 172.5 |
| IGL | 419.9 | 430 |
| INDHOTEL | 718.15 | 720 |
| INDIAMART | 2297.5 | 2400 |
| INDIGO | 3865.6 | 4000 |
| INDUSINDBK | 1048.95 | 1080 |
| INDUSTOWER | 317.75 | 340 |
| INFY | 1865.25 | 1820 |
| IOC | 136.74 | 145 |
| IPCALAB | 1507.6 | 1540 |
| IRCTC | 807.2 | 840 |
| ITC | 472.95 | 480 |
| JINDALSTEL | 861.95 | 920 |
| JKCEMENT | 4007 | 4100 |
| JSWSTEEL | 935.25 | 980 |
| JUBLFOOD | 627.3 | 630 |
| KOTAKBANK | 1708.15 | 1760 |
| LALPATHLAB | 2953.2 | 3100 |
| LAURUSLABS | 479.15 | 490 |
| LICHSGFIN | 614 | 630 |
| LT | 3574.3 | 3600 |
| LTF | 136.95 | 145 |
| LTIM | 5977.35 | 5950 |
| LTTS | 5212.5 | 5200 |
| LUPIN | 2041.95 | 2120 |
| M&M | 2808.6 | 2850 |
| M&MFIN | 258.8 | 270 |
| MANAPPURAM | 162.19 | 155 |
| MARICO | 599.95 | 620 |
| MARUTI | 11059.2 | 11200 |
| MCX | 6000 | 6200 |
| METROPOLIS | 2070 | 2100 |
| MFSL | 1203.6 | 1220 |
| MGL | 1349.45 | 1400 |
| MOTHERSON | 160.14 | 172.5 |
| MPHASIS | 2854.15 | 2900 |
| MRF | 121189.55 | 122000 |
| MUTHOOTFIN | 1776.9 | 1840 |
| NATIONALUM | 221.7 | 225 |
| NAUKRI | 7664.2 | 7800 |
| NAVINFLUOR | 3282.5 | 3400 |
| NESTLEIND | 2234.85 | 2300 |
| NMDC | 223.14 | 230 |
| NTPC | 385.65 | 395 |
| OBEROIRLTY | 1934.95 | 2000 |
| OFSS | 11813.3 | 11500 |
| ONGC | 252.05 | 260 |
| PAGEIND | 46117 | 46500 |
| PEL | 1000.35 | 1060 |
| PERSISTENT | 5649.6 | 5500 |
| PETRONET | 315.05 | 330 |
| PFC | 466.65 | 460 |
| PIDILITIND | 2988.9 | 3120 |
| PIIND | 4440.15 | 4500 |
| PNB | 102.52 | 105 |
| POLYCAB | 6352.9 | 6600 |
| POWERGRID | 318.05 | 320 |
| PVRINOX | 1453.6 | 1500 |
| RAMCOCEM | 886.65 | 880 |
| RBLBANK | 154.14 | 165 |
| RECLTD | 514.8 | 530 |
| RELIANCE | 1260.85 | 1310 |
| SAIL | 112.65 | 120 |
| SBICARD | 679.4 | 690 |
| SBILIFE | 1549.55 | 1600 |
| SBIN | 815.65 | 830 |
| SHREECEM | 24099.7 | 24500 |
| SHRIRAMFIN | 2869.4 | 3050 |
| SIEMENS | 6672.1 | 7000 |
| SRF | 2213.4 | 2300 |
| SUNPHARMA | 1777.65 | 1820 |
| SUNTV | 727.25 | 730 |
| SYNGENE | 862.5 | 880 |
| TATACHEM | 1052.3 | 1100 |
| TATACOMM | 1755.5 | 1800 |
| TATACONSUM | 957.1 | 990 |
| TATAMOTORS | 788.2 | 820 |
| TATAPOWER | 404.1 | 430 |
| TATASTEEL | 139.62 | 147.5 |
| TCS | 4140.2 | 4150 |
| TECHM | 1675.05 | 1660 |
| TITAN | 3200.9 | 3200 |
| TORNTPHARM | 3103.95 | 3200 |
| TRENT | 6574.65 | 6600 |
| TVSMOTOR | 2379.2 | 2450 |
| UBL | 1876.3 | 1920 |
| ULTRACEMCO | 10830 | 11000 |
| UNITDSPR | 1433.55 | 1460 |
| UPL | 514.15 | 530 |
| VEDL | 437.4 | 460 |
| VOLTAS | 1679.65 | 1700 |
| WIPRO | 568 | 560 |
| ZYDUSLIFE | 960.35 | 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.
