PAGEIND
PAGE INDUSTRIES LTD
Max pain for PAGEIND
02 Jul 2024 11:03 AM IST
Max Pain for PAGEIND is 39250
Strike 36000 has a total call value of 0 versus a total put value of 1,699,125,000 Combined total value = 1,699,125,000
Strike 36250 has a total call value of 0 versus a total put value of 1,533,375,000 Combined total value = 1,533,375,000
Strike 36500 has a total call value of 0 versus a total put value of 1,367,625,000 Combined total value = 1,367,625,000
Strike 36750 has a total call value of 0 versus a total put value of 1,201,875,000 Combined total value = 1,201,875,000
Strike 37000 has a total call value of 0 versus a total put value of 1,036,125,000 Combined total value = 1,036,125,000
Strike 37250 has a total call value of 0 versus a total put value of 870,375,000 Combined total value = 870,375,000
Strike 37500 has a total call value of 0 versus a total put value of 704,625,000 Combined total value = 704,625,000
Strike 37750 has a total call value of 0 versus a total put value of 538,875,000 Combined total value = 538,875,000
Strike 38000 has a total call value of 0 versus a total put value of 373,125,000 Combined total value = 373,125,000
Strike 38250 has a total call value of 0 versus a total put value of 322,875,000 Combined total value = 322,875,000
Strike 38500 has a total call value of 0 versus a total put value of 272,625,000 Combined total value = 272,625,000
Strike 38750 has a total call value of 3,375,000 versus a total put value of 222,375,000 Combined total value = 225,750,000
Strike 39000 has a total call value of 6,750,000 versus a total put value of 172,125,000 Combined total value = 178,875,000
Strike 39250 has a total call value of 37,125,000 versus a total put value of 135,750,000 Combined total value = 172,875,000
Strike 39500 has a total call value of 74,250,000 versus a total put value of 99,375,000 Combined total value = 173,625,000
Strike 39750 has a total call value of 129,375,000 versus a total put value of 63,000,000 Combined total value = 192,375,000
Strike 40000 has a total call value of 184,500,000 versus a total put value of 26,625,000 Combined total value = 211,125,000
Strike 40250 has a total call value of 379,875,000 versus a total put value of 15,000,000 Combined total value = 394,875,000
Strike 40500 has a total call value of 579,750,000 versus a total put value of 3,375,000 Combined total value = 583,125,000
Strike 40750 has a total call value of 786,375,000 versus a total put value of 2,250,000 Combined total value = 788,625,000
Strike 41000 has a total call value of 993,750,000 versus a total put value of 1,125,000 Combined total value = 994,875,000
Strike 41250 has a total call value of 1,308,750,000 versus a total put value of 0 Combined total value = 1,308,750,000
Strike 41500 has a total call value of 1,624,500,000 versus a total put value of 0 Combined total value = 1,624,500,000
Strike 41750 has a total call value of 1,941,750,000 versus a total put value of 0 Combined total value = 1,941,750,000
Strike 42000 has a total call value of 2,259,000,000 versus a total put value of 0 Combined total value = 2,259,000,000
Strike 42250 has a total call value of 2,645,625,000 versus a total put value of 0 Combined total value = 2,645,625,000
Strike 42500 has a total call value of 3,032,250,000 versus a total put value of 0 Combined total value = 3,032,250,000
Strike 42750 has a total call value of 3,418,875,000 versus a total put value of 0 Combined total value = 3,418,875,000
Strike 43000 has a total call value of 3,805,500,000 versus a total put value of 0 Combined total value = 3,805,500,000
Strike 43250 has a total call value of 4,197,000,000 versus a total put value of 0 Combined total value = 4,197,000,000
Strike 43500 has a total call value of 4,588,500,000 versus a total put value of 0 Combined total value = 4,588,500,000
Strike 43750 has a total call value of 4,980,000,000 versus a total put value of 0 Combined total value = 4,980,000,000
Strike 44000 has a total call value of 5,371,500,000 versus a total put value of 0 Combined total value = 5,371,500,000
Strike 44250 has a total call value of 5,763,000,000 versus a total put value of 0 Combined total value = 5,763,000,000
Strike 44500 has a total call value of 6,154,500,000 versus a total put value of 0 Combined total value = 6,154,500,000
Strike 44750 has a total call value of 6,546,375,000 versus a total put value of 0 Combined total value = 6,546,375,000
Strike 45000 has a total call value of 6,938,250,000 versus a total put value of 0 Combined total value = 6,938,250,000
Strike 45250 has a total call value of 7,330,500,000 versus a total put value of 0 Combined total value = 7,330,500,000
Strike 45500 has a total call value of 7,722,750,000 versus a total put value of 0 Combined total value = 7,722,750,000
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.