SAIL
STEEL AUTHORITY OF INDIA
Max pain for SAIL
02 Jul 2024 11:11 AM IST
Max Pain for SAIL is 150
Strike 120 has a total call value of 0 versus a total put value of 48,921,000,000 Combined total value = 48,921,000,000
Strike 122.5 has a total call value of 0 versus a total put value of 44,053,000,000 Combined total value = 44,053,000,000
Strike 125 has a total call value of 0 versus a total put value of 39,185,000,000 Combined total value = 39,185,000,000
Strike 127.5 has a total call value of 0 versus a total put value of 34,401,000,000 Combined total value = 34,401,000,000
Strike 130 has a total call value of 0 versus a total put value of 29,617,000,000 Combined total value = 29,617,000,000
Strike 132.5 has a total call value of 49,000,000 versus a total put value of 25,280,000,000 Combined total value = 25,329,000,000
Strike 135 has a total call value of 100,000,000 versus a total put value of 20,994,000,000 Combined total value = 21,094,000,000
Strike 137.5 has a total call value of 162,000,000 versus a total put value of 17,197,000,000 Combined total value = 17,359,000,000
Strike 140 has a total call value of 225,000,000 versus a total put value of 13,456,000,000 Combined total value = 13,681,000,000
Strike 142.5 has a total call value of 516,000,000 versus a total put value of 10,540,000,000 Combined total value = 11,056,000,000
Strike 145 has a total call value of 812,000,000 versus a total put value of 7,668,000,000 Combined total value = 8,480,000,000
Strike 147.5 has a total call value of 1,258,000,000 versus a total put value of 5,438,000,000 Combined total value = 6,696,000,000
Strike 150 has a total call value of 1,843,000,000 versus a total put value of 3,305,000,000 Combined total value = 5,148,000,000
Strike 152.5 has a total call value of 4,678,000,000 versus a total put value of 2,560,000,000 Combined total value = 7,238,000,000
Strike 155 has a total call value of 7,682,000,000 versus a total put value of 1,876,000,000 Combined total value = 9,558,000,000
Strike 157.5 has a total call value of 11,593,000,000 versus a total put value of 1,384,000,000 Combined total value = 12,977,000,000
Strike 160 has a total call value of 15,815,000,000 versus a total put value of 892,000,000 Combined total value = 16,707,000,000
Strike 162.5 has a total call value of 22,260,000,000 versus a total put value of 722,000,000 Combined total value = 22,982,000,000
Strike 165 has a total call value of 28,760,000,000 versus a total put value of 552,000,000 Combined total value = 29,312,000,000
Strike 167.5 has a total call value of 35,692,000,000 versus a total put value of 460,000,000 Combined total value = 36,152,000,000
Strike 170 has a total call value of 42,725,000,000 versus a total put value of 368,000,000 Combined total value = 43,093,000,000
Strike 172.5 has a total call value of 50,793,000,000 versus a total put value of 276,000,000 Combined total value = 51,069,000,000
Strike 175 has a total call value of 58,883,000,000 versus a total put value of 184,000,000 Combined total value = 59,067,000,000
Strike 177.5 has a total call value of 67,300,000,000 versus a total put value of 92,000,000 Combined total value = 67,392,000,000
Strike 180 has a total call value of 75,717,000,000 versus a total put value of 0 Combined total value = 75,717,000,000
Strike 182.5 has a total call value of 84,481,000,000 versus a total put value of 0 Combined total value = 84,481,000,000
Strike 185 has a total call value of 93,245,000,000 versus a total put value of 0 Combined total value = 93,245,000,000
Strike 187.5 has a total call value of 102,083,000,000 versus a total put value of 0 Combined total value = 102,083,000,000
Strike 190 has a total call value of 110,921,000,000 versus a total put value of 0 Combined total value = 110,921,000,000
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.