SBIN
State Bank Of India
Max pain for SBIN
16 Sep 2024 04:10 PM IST
Max Pain for SBIN is 800
Strike 640 has a total call value of 0 versus a total put value of 523,665,750,000 Combined total value = 523,665,750,000
Strike 650 has a total call value of 0 versus a total put value of 486,660,750,000 Combined total value = 486,660,750,000
Strike 660 has a total call value of 0 versus a total put value of 449,655,750,000 Combined total value = 449,655,750,000
Strike 670 has a total call value of 0 versus a total put value of 412,702,500,000 Combined total value = 412,702,500,000
Strike 680 has a total call value of 0 versus a total put value of 375,806,250,000 Combined total value = 375,806,250,000
Strike 690 has a total call value of 0 versus a total put value of 339,194,250,000 Combined total value = 339,194,250,000
Strike 700 has a total call value of 0 versus a total put value of 302,663,250,000 Combined total value = 302,663,250,000
Strike 710 has a total call value of 88,500,000 versus a total put value of 267,820,500,000 Combined total value = 267,909,000,000
Strike 720 has a total call value of 223,500,000 versus a total put value of 233,316,750,000 Combined total value = 233,540,250,000
Strike 730 has a total call value of 468,750,000 versus a total put value of 200,152,500,000 Combined total value = 200,621,250,000
Strike 740 has a total call value of 759,750,000 versus a total put value of 167,851,500,000 Combined total value = 168,611,250,000
Strike 750 has a total call value of 1,161,000,000 versus a total put value of 136,883,250,000 Combined total value = 138,044,250,000
Strike 760 has a total call value of 2,172,750,000 versus a total put value of 109,754,250,000 Combined total value = 111,927,000,000
Strike 770 has a total call value of 3,557,250,000 versus a total put value of 84,728,250,000 Combined total value = 88,285,500,000
Strike 780 has a total call value of 6,115,500,000 versus a total put value of 62,682,000,000 Combined total value = 68,797,500,000
Strike 790 has a total call value of 11,518,500,000 versus a total put value of 44,949,000,000 Combined total value = 56,467,500,000
Strike 800 has a total call value of 22,209,000,000 versus a total put value of 30,744,750,000 Combined total value = 52,953,750,000
Strike 810 has a total call value of 44,550,000,000 versus a total put value of 21,695,250,000 Combined total value = 66,245,250,000
Strike 820 has a total call value of 72,842,250,000 versus a total put value of 13,950,000,000 Combined total value = 86,792,250,000
Strike 830 has a total call value of 113,088,000,000 versus a total put value of 9,276,000,000 Combined total value = 122,364,000,000
Strike 840 has a total call value of 160,187,250,000 versus a total put value of 6,239,250,000 Combined total value = 166,426,500,000
Strike 850 has a total call value of 211,204,500,000 versus a total put value of 4,084,500,000 Combined total value = 215,289,000,000
Strike 860 has a total call value of 268,644,000,000 versus a total put value of 2,727,750,000 Combined total value = 271,371,750,000
Strike 870 has a total call value of 328,882,500,000 versus a total put value of 1,944,000,000 Combined total value = 330,826,500,000
Strike 880 has a total call value of 390,437,250,000 versus a total put value of 1,334,250,000 Combined total value = 391,771,500,000
Strike 890 has a total call value of 453,604,500,000 versus a total put value of 724,500,000 Combined total value = 454,329,000,000
Strike 900 has a total call value of 517,215,000,000 versus a total put value of 114,750,000 Combined total value = 517,329,750,000
Strike 910 has a total call value of 584,511,750,000 versus a total put value of 76,500,000 Combined total value = 584,588,250,000
Strike 920 has a total call value of 652,147,500,000 versus a total put value of 38,250,000 Combined total value = 652,185,750,000
Strike 930 has a total call value of 720,378,000,000 versus a total put value of 0 Combined total value = 720,378,000,000
Strike 940 has a total call value of 788,778,000,000 versus a total put value of 0 Combined total value = 788,778,000,000
Strike 950 has a total call value of 857,337,000,000 versus a total put value of 0 Combined total value = 857,337,000,000
Strike 960 has a total call value of 926,227,500,000 versus a total put value of 0 Combined total value = 926,227,500,000
Strike 970 has a total call value of 995,172,000,000 versus a total put value of 0 Combined total value = 995,172,000,000
Strike 980 has a total call value of 1,064,116,500,000 versus a total put value of 0 Combined total value = 1,064,116,500,000
Strike 990 has a total call value of 1,133,145,000,000 versus a total put value of 0 Combined total value = 1,133,145,000,000
Strike 1000 has a total call value of 1,202,173,500,000 versus a total put value of 0 Combined total value = 1,202,173,500,000
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.