SBIN
STATE BANK OF INDIA
Max pain for SBIN
26 Jul 2024 04:10 PM IST
Max Pain for SBIN is 860
Strike 700 has a total call value of 0 versus a total put value of 259,788,750,000 Combined total value = 259,788,750,000
Strike 710 has a total call value of 69,000,000 versus a total put value of 240,437,250,000 Combined total value = 240,506,250,000
Strike 720 has a total call value of 138,000,000 versus a total put value of 221,085,750,000 Combined total value = 221,223,750,000
Strike 730 has a total call value of 207,000,000 versus a total put value of 201,803,250,000 Combined total value = 202,010,250,000
Strike 740 has a total call value of 276,000,000 versus a total put value of 182,520,750,000 Combined total value = 182,796,750,000
Strike 750 has a total call value of 355,500,000 versus a total put value of 163,446,000,000 Combined total value = 163,801,500,000
Strike 760 has a total call value of 534,750,000 versus a total put value of 145,049,250,000 Combined total value = 145,584,000,000
Strike 770 has a total call value of 732,000,000 versus a total put value of 126,987,750,000 Combined total value = 127,719,750,000
Strike 780 has a total call value of 947,250,000 versus a total put value of 109,286,250,000 Combined total value = 110,233,500,000
Strike 790 has a total call value of 1,235,250,000 versus a total put value of 92,287,500,000 Combined total value = 93,522,750,000
Strike 800 has a total call value of 1,556,250,000 versus a total put value of 75,822,000,000 Combined total value = 77,378,250,000
Strike 810 has a total call value of 2,377,500,000 versus a total put value of 62,500,500,000 Combined total value = 64,878,000,000
Strike 820 has a total call value of 3,302,250,000 versus a total put value of 50,132,250,000 Combined total value = 53,434,500,000
Strike 830 has a total call value of 4,467,750,000 versus a total put value of 39,696,000,000 Combined total value = 44,163,750,000
Strike 840 has a total call value of 5,788,500,000 versus a total put value of 30,097,500,000 Combined total value = 35,886,000,000
Strike 850 has a total call value of 7,569,000,000 versus a total put value of 22,701,000,000 Combined total value = 30,270,000,000
Strike 860 has a total call value of 11,594,250,000 versus a total put value of 17,032,500,000 Combined total value = 28,626,750,000
Strike 870 has a total call value of 17,253,000,000 versus a total put value of 13,263,750,000 Combined total value = 30,516,750,000
Strike 880 has a total call value of 24,963,000,000 versus a total put value of 9,834,000,000 Combined total value = 34,797,000,000
Strike 890 has a total call value of 34,681,500,000 versus a total put value of 7,098,000,000 Combined total value = 41,779,500,000
Strike 900 has a total call value of 45,371,250,000 versus a total put value of 4,685,250,000 Combined total value = 50,056,500,000
Strike 910 has a total call value of 60,779,250,000 versus a total put value of 3,699,000,000 Combined total value = 64,478,250,000
Strike 920 has a total call value of 76,788,750,000 versus a total put value of 2,787,750,000 Combined total value = 79,576,500,000
Strike 930 has a total call value of 93,855,750,000 versus a total put value of 1,994,250,000 Combined total value = 95,850,000,000
Strike 940 has a total call value of 111,605,250,000 versus a total put value of 1,298,250,000 Combined total value = 112,903,500,000
Strike 950 has a total call value of 129,892,500,000 versus a total put value of 810,750,000 Combined total value = 130,703,250,000
Strike 960 has a total call value of 149,704,500,000 versus a total put value of 553,500,000 Combined total value = 150,258,000,000
Strike 970 has a total call value of 169,939,500,000 versus a total put value of 374,250,000 Combined total value = 170,313,750,000
Strike 980 has a total call value of 190,425,000,000 versus a total put value of 195,000,000 Combined total value = 190,620,000,000
Strike 990 has a total call value of 211,514,250,000 versus a total put value of 97,500,000 Combined total value = 211,611,750,000
Strike 1000 has a total call value of 232,603,500,000 versus a total put value of 0 Combined total value = 232,603,500,000
Strike 1010 has a total call value of 255,743,250,000 versus a total put value of 0 Combined total value = 255,743,250,000
Strike 1020 has a total call value of 278,883,000,000 versus a total put value of 0 Combined total value = 278,883,000,000
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.