SBIN
STATE BANK OF INDIA
Max pain for SBIN
04 Jul 2024 12:30 PM IST
Max Pain for SBIN is 840
Strike 650 has a total call value of 0 versus a total put value of 421,097,250,000 Combined total value = 421,097,250,000
Strike 655 has a total call value of 0 versus a total put value of 408,422,250,000 Combined total value = 408,422,250,000
Strike 660 has a total call value of 0 versus a total put value of 395,747,250,000 Combined total value = 395,747,250,000
Strike 665 has a total call value of 0 versus a total put value of 383,102,625,000 Combined total value = 383,102,625,000
Strike 670 has a total call value of 0 versus a total put value of 370,458,000,000 Combined total value = 370,458,000,000
Strike 675 has a total call value of 0 versus a total put value of 357,813,375,000 Combined total value = 357,813,375,000
Strike 680 has a total call value of 0 versus a total put value of 345,168,750,000 Combined total value = 345,168,750,000
Strike 685 has a total call value of 0 versus a total put value of 332,524,125,000 Combined total value = 332,524,125,000
Strike 690 has a total call value of 0 versus a total put value of 319,879,500,000 Combined total value = 319,879,500,000
Strike 695 has a total call value of 0 versus a total put value of 307,240,875,000 Combined total value = 307,240,875,000
Strike 700 has a total call value of 0 versus a total put value of 294,602,250,000 Combined total value = 294,602,250,000
Strike 705 has a total call value of 0 versus a total put value of 282,279,000,000 Combined total value = 282,279,000,000
Strike 710 has a total call value of 0 versus a total put value of 269,955,750,000 Combined total value = 269,955,750,000
Strike 715 has a total call value of 0 versus a total put value of 257,642,250,000 Combined total value = 257,642,250,000
Strike 720 has a total call value of 0 versus a total put value of 245,328,750,000 Combined total value = 245,328,750,000
Strike 725 has a total call value of 0 versus a total put value of 233,119,125,000 Combined total value = 233,119,125,000
Strike 730 has a total call value of 0 versus a total put value of 220,909,500,000 Combined total value = 220,909,500,000
Strike 735 has a total call value of 0 versus a total put value of 208,699,875,000 Combined total value = 208,699,875,000
Strike 740 has a total call value of 0 versus a total put value of 196,490,250,000 Combined total value = 196,490,250,000
Strike 745 has a total call value of 0 versus a total put value of 184,475,250,000 Combined total value = 184,475,250,000
Strike 750 has a total call value of 0 versus a total put value of 172,460,250,000 Combined total value = 172,460,250,000
Strike 755 has a total call value of 65,250,000 versus a total put value of 160,933,875,000 Combined total value = 160,999,125,000
Strike 760 has a total call value of 130,500,000 versus a total put value of 149,428,875,000 Combined total value = 149,559,375,000
Strike 765 has a total call value of 200,625,000 versus a total put value of 138,163,875,000 Combined total value = 138,364,500,000
Strike 770 has a total call value of 270,750,000 versus a total put value of 126,948,750,000 Combined total value = 127,219,500,000
Strike 775 has a total call value of 347,250,000 versus a total put value of 115,973,250,000 Combined total value = 116,320,500,000
Strike 780 has a total call value of 423,750,000 versus a total put value of 105,132,375,000 Combined total value = 105,556,125,000
Strike 785 has a total call value of 567,000,000 versus a total put value of 94,869,750,000 Combined total value = 95,436,750,000
Strike 790 has a total call value of 714,750,000 versus a total put value of 84,686,625,000 Combined total value = 85,401,375,000
Strike 795 has a total call value of 871,875,000 versus a total put value of 74,811,750,000 Combined total value = 75,683,625,000
Strike 800 has a total call value of 1,048,875,000 versus a total put value of 65,055,000,000 Combined total value = 66,103,875,000
Strike 805 has a total call value of 1,803,000,000 versus a total put value of 57,577,500,000 Combined total value = 59,380,500,000
Strike 810 has a total call value of 2,565,375,000 versus a total put value of 50,234,625,000 Combined total value = 52,800,000,000
Strike 815 has a total call value of 3,400,875,000 versus a total put value of 43,314,000,000 Combined total value = 46,714,875,000
Strike 820 has a total call value of 4,257,000,000 versus a total put value of 36,524,625,000 Combined total value = 40,781,625,000
Strike 825 has a total call value of 5,557,875,000 versus a total put value of 30,490,125,000 Combined total value = 36,048,000,000
Strike 830 has a total call value of 6,978,375,000 versus a total put value of 24,697,125,000 Combined total value = 31,675,500,000
Strike 835 has a total call value of 9,601,125,000 versus a total put value of 20,206,125,000 Combined total value = 29,807,250,000
Strike 840 has a total call value of 12,557,625,000 versus a total put value of 15,920,250,000 Combined total value = 28,477,875,000
Strike 845 has a total call value of 17,430,000,000 versus a total put value of 12,775,500,000 Combined total value = 30,205,500,000
Strike 850 has a total call value of 23,114,625,000 versus a total put value of 9,971,250,000 Combined total value = 33,085,875,000
Strike 855 has a total call value of 32,551,500,000 versus a total put value of 8,385,000,000 Combined total value = 40,936,500,000
Strike 860 has a total call value of 42,358,500,000 versus a total put value of 6,953,250,000 Combined total value = 49,311,750,000
Strike 865 has a total call value of 54,459,000,000 versus a total put value of 5,987,250,000 Combined total value = 60,446,250,000
Strike 870 has a total call value of 66,852,375,000 versus a total put value of 5,093,625,000 Combined total value = 71,946,000,000
Strike 875 has a total call value of 80,425,125,000 versus a total put value of 4,375,500,000 Combined total value = 84,800,625,000
Strike 880 has a total call value of 94,299,750,000 versus a total put value of 3,695,625,000 Combined total value = 97,995,375,000
Strike 885 has a total call value of 109,626,750,000 versus a total put value of 3,129,750,000 Combined total value = 112,756,500,000
Strike 890 has a total call value of 125,453,625,000 versus a total put value of 2,585,250,000 Combined total value = 128,038,875,000
Strike 895 has a total call value of 141,830,250,000 versus a total put value of 2,092,500,000 Combined total value = 143,922,750,000
Strike 900 has a total call value of 158,360,625,000 versus a total put value of 1,626,375,000 Combined total value = 159,987,000,000
Strike 905 has a total call value of 178,222,500,000 versus a total put value of 1,414,500,000 Combined total value = 179,637,000,000
Strike 910 has a total call value of 198,280,125,000 versus a total put value of 1,240,125,000 Combined total value = 199,520,250,000
Strike 915 has a total call value of 218,777,250,000 versus a total put value of 1,092,000,000 Combined total value = 219,869,250,000
Strike 920 has a total call value of 239,348,625,000 versus a total put value of 954,000,000 Combined total value = 240,302,625,000
Strike 925 has a total call value of 260,459,625,000 versus a total put value of 886,875,000 Combined total value = 261,346,500,000
Strike 930 has a total call value of 281,640,375,000 versus a total put value of 819,750,000 Combined total value = 282,460,125,000
Strike 935 has a total call value of 303,222,750,000 versus a total put value of 752,625,000 Combined total value = 303,975,375,000
Strike 940 has a total call value of 324,895,125,000 versus a total put value of 685,500,000 Combined total value = 325,580,625,000
Strike 945 has a total call value of 347,016,000,000 versus a total put value of 618,375,000 Combined total value = 347,634,375,000
Strike 950 has a total call value of 369,202,500,000 versus a total put value of 551,250,000 Combined total value = 369,753,750,000
Strike 955 has a total call value of 392,113,875,000 versus a total put value of 484,125,000 Combined total value = 392,598,000,000
Strike 960 has a total call value of 415,047,375,000 versus a total put value of 417,000,000 Combined total value = 415,464,375,000
Strike 965 has a total call value of 438,165,750,000 versus a total put value of 365,250,000 Combined total value = 438,531,000,000
Strike 970 has a total call value of 461,286,000,000 versus a total put value of 313,500,000 Combined total value = 461,599,500,000
Strike 975 has a total call value of 484,545,375,000 versus a total put value of 261,750,000 Combined total value = 484,807,125,000
Strike 980 has a total call value of 507,891,375,000 versus a total put value of 210,000,000 Combined total value = 508,101,375,000
Strike 985 has a total call value of 531,401,625,000 versus a total put value of 158,250,000 Combined total value = 531,559,875,000
Strike 990 has a total call value of 554,920,875,000 versus a total put value of 106,500,000 Combined total value = 555,027,375,000
Strike 995 has a total call value of 578,502,000,000 versus a total put value of 54,750,000 Combined total value = 578,556,750,000
Strike 1000 has a total call value of 602,127,000,000 versus a total put value of 3,000,000 Combined total value = 602,130,000,000
Strike 1005 has a total call value of 626,535,000,000 versus a total put value of 2,250,000 Combined total value = 626,537,250,000
Strike 1010 has a total call value of 650,943,000,000 versus a total put value of 1,500,000 Combined total value = 650,944,500,000
Strike 1015 has a total call value of 675,411,375,000 versus a total put value of 750,000 Combined total value = 675,412,125,000
Strike 1020 has a total call value of 699,879,750,000 versus a total put value of 0 Combined total value = 699,879,750,000
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.