SENSEX
Sensex
Max pain for SENSEX
18 Oct 2024 10:49 AM IST
Max Pain for SENSEX is 81300
Strike 79800 has a total call value of 0 versus a total put value of 16,500,000 Combined total value = 16,500,000
Strike 79900 has a total call value of 0 versus a total put value of 15,200,000 Combined total value = 15,200,000
Strike 80000 has a total call value of 0 versus a total put value of 13,900,000 Combined total value = 13,900,000
Strike 80100 has a total call value of 0 versus a total put value of 12,600,000 Combined total value = 12,600,000
Strike 80200 has a total call value of 0 versus a total put value of 11,300,000 Combined total value = 11,300,000
Strike 80300 has a total call value of 0 versus a total put value of 10,000,000 Combined total value = 10,000,000
Strike 80400 has a total call value of 0 versus a total put value of 8,700,000 Combined total value = 8,700,000
Strike 80500 has a total call value of 0 versus a total put value of 7,400,000 Combined total value = 7,400,000
Strike 80600 has a total call value of 0 versus a total put value of 6,100,000 Combined total value = 6,100,000
Strike 80700 has a total call value of 0 versus a total put value of 4,800,000 Combined total value = 4,800,000
Strike 80800 has a total call value of 0 versus a total put value of 3,500,000 Combined total value = 3,500,000
Strike 80900 has a total call value of 0 versus a total put value of 2,200,000 Combined total value = 2,200,000
Strike 81000 has a total call value of 0 versus a total put value of 1,000,000 Combined total value = 1,000,000
Strike 81100 has a total call value of 0 versus a total put value of 800,000 Combined total value = 800,000
Strike 81200 has a total call value of 0 versus a total put value of 600,000 Combined total value = 600,000
Strike 81300 has a total call value of 0 versus a total put value of 400,000 Combined total value = 400,000
Strike 81400 has a total call value of 1,800,000 versus a total put value of 200,000 Combined total value = 2,000,000
Strike 81500 has a total call value of 3,600,000 versus a total put value of 0 Combined total value = 3,600,000
Strike 81600 has a total call value of 8,000,000 versus a total put value of 0 Combined total value = 8,000,000
Strike 81700 has a total call value of 12,400,000 versus a total put value of 0 Combined total value = 12,400,000
Strike 81800 has a total call value of 19,300,000 versus a total put value of 0 Combined total value = 19,300,000
Strike 81900 has a total call value of 26,400,000 versus a total put value of 0 Combined total value = 26,400,000
Strike 82000 has a total call value of 34,000,000 versus a total put value of 0 Combined total value = 34,000,000
Strike 82100 has a total call value of 42,700,000 versus a total put value of 0 Combined total value = 42,700,000
Strike 82200 has a total call value of 51,400,000 versus a total put value of 0 Combined total value = 51,400,000
Strike 82300 has a total call value of 60,100,000 versus a total put value of 0 Combined total value = 60,100,000
Strike 82400 has a total call value of 68,800,000 versus a total put value of 0 Combined total value = 68,800,000
Strike 82500 has a total call value of 77,500,000 versus a total put value of 0 Combined total value = 77,500,000
Strike 82600 has a total call value of 87,400,000 versus a total put value of 0 Combined total value = 87,400,000
Strike 82700 has a total call value of 97,300,000 versus a total put value of 0 Combined total value = 97,300,000
Strike 82800 has a total call value of 107,200,000 versus a total put value of 0 Combined total value = 107,200,000
Strike 82900 has a total call value of 117,100,000 versus a total put value of 0 Combined total value = 117,100,000
Strike 83000 has a total call value of 127,000,000 versus a total put value of 0 Combined total value = 127,000,000
Strike 83100 has a total call value of 136,900,000 versus a total put value of 0 Combined total value = 136,900,000
Strike 83200 has a total call value of 146,800,000 versus a total put value of 0 Combined total value = 146,800,000
Strike 83300 has a total call value of 156,700,000 versus a total put value of 0 Combined total value = 156,700,000
Strike 83400 has a total call value of 166,600,000 versus a total put value of 0 Combined total value = 166,600,000
Strike 83500 has a total call value of 176,500,000 versus a total put value of 0 Combined total value = 176,500,000
Strike 83600 has a total call value of 186,400,000 versus a total put value of 0 Combined total value = 186,400,000
Strike 83700 has a total call value of 196,300,000 versus a total put value of 0 Combined total value = 196,300,000
Strike 83800 has a total call value of 206,200,000 versus a total put value of 0 Combined total value = 206,200,000
Strike 83900 has a total call value of 216,100,000 versus a total put value of 0 Combined total value = 216,100,000
Strike 84000 has a total call value of 226,000,000 versus a total put value of 0 Combined total value = 226,000,000
Strike 84100 has a total call value of 235,900,000 versus a total put value of 0 Combined total value = 235,900,000
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.
