SENSEX
Sensex
Max pain for SENSEX
18 Oct 2024 02:07 PM IST
Max Pain for SENSEX is 81300
Strike 77100 has a total call value of 0 versus a total put value of 325,500,000 Combined total value = 325,500,000
Strike 77200 has a total call value of 0 versus a total put value of 317,100,000 Combined total value = 317,100,000
Strike 77300 has a total call value of 0 versus a total put value of 308,700,000 Combined total value = 308,700,000
Strike 77400 has a total call value of 0 versus a total put value of 300,300,000 Combined total value = 300,300,000
Strike 77500 has a total call value of 0 versus a total put value of 291,900,000 Combined total value = 291,900,000
Strike 77600 has a total call value of 0 versus a total put value of 283,500,000 Combined total value = 283,500,000
Strike 77700 has a total call value of 0 versus a total put value of 275,100,000 Combined total value = 275,100,000
Strike 77800 has a total call value of 0 versus a total put value of 266,700,000 Combined total value = 266,700,000
Strike 77900 has a total call value of 0 versus a total put value of 258,300,000 Combined total value = 258,300,000
Strike 78000 has a total call value of 0 versus a total put value of 249,900,000 Combined total value = 249,900,000
Strike 78100 has a total call value of 0 versus a total put value of 241,500,000 Combined total value = 241,500,000
Strike 78200 has a total call value of 0 versus a total put value of 233,100,000 Combined total value = 233,100,000
Strike 78300 has a total call value of 0 versus a total put value of 224,700,000 Combined total value = 224,700,000
Strike 78400 has a total call value of 0 versus a total put value of 216,300,000 Combined total value = 216,300,000
Strike 78500 has a total call value of 0 versus a total put value of 207,900,000 Combined total value = 207,900,000
Strike 78600 has a total call value of 0 versus a total put value of 199,500,000 Combined total value = 199,500,000
Strike 78700 has a total call value of 0 versus a total put value of 191,100,000 Combined total value = 191,100,000
Strike 78800 has a total call value of 0 versus a total put value of 182,700,000 Combined total value = 182,700,000
Strike 78900 has a total call value of 0 versus a total put value of 174,300,000 Combined total value = 174,300,000
Strike 79000 has a total call value of 0 versus a total put value of 165,900,000 Combined total value = 165,900,000
Strike 79100 has a total call value of 0 versus a total put value of 157,500,000 Combined total value = 157,500,000
Strike 79200 has a total call value of 0 versus a total put value of 149,100,000 Combined total value = 149,100,000
Strike 79300 has a total call value of 0 versus a total put value of 140,700,000 Combined total value = 140,700,000
Strike 79400 has a total call value of 0 versus a total put value of 132,300,000 Combined total value = 132,300,000
Strike 79500 has a total call value of 0 versus a total put value of 123,900,000 Combined total value = 123,900,000
Strike 79600 has a total call value of 0 versus a total put value of 115,500,000 Combined total value = 115,500,000
Strike 79700 has a total call value of 0 versus a total put value of 107,100,000 Combined total value = 107,100,000
Strike 79800 has a total call value of 0 versus a total put value of 98,700,000 Combined total value = 98,700,000
Strike 79900 has a total call value of 0 versus a total put value of 91,300,000 Combined total value = 91,300,000
Strike 80000 has a total call value of 0 versus a total put value of 83,900,000 Combined total value = 83,900,000
Strike 80100 has a total call value of 0 versus a total put value of 76,600,000 Combined total value = 76,600,000
Strike 80200 has a total call value of 0 versus a total put value of 69,300,000 Combined total value = 69,300,000
Strike 80300 has a total call value of 0 versus a total put value of 62,000,000 Combined total value = 62,000,000
Strike 80400 has a total call value of 0 versus a total put value of 54,700,000 Combined total value = 54,700,000
Strike 80500 has a total call value of 0 versus a total put value of 47,400,000 Combined total value = 47,400,000
Strike 80600 has a total call value of 0 versus a total put value of 41,100,000 Combined total value = 41,100,000
Strike 80700 has a total call value of 0 versus a total put value of 34,800,000 Combined total value = 34,800,000
Strike 80800 has a total call value of 0 versus a total put value of 28,500,000 Combined total value = 28,500,000
Strike 80900 has a total call value of 0 versus a total put value of 22,200,000 Combined total value = 22,200,000
Strike 81000 has a total call value of 0 versus a total put value of 16,000,000 Combined total value = 16,000,000
Strike 81100 has a total call value of 0 versus a total put value of 11,100,000 Combined total value = 11,100,000
Strike 81200 has a total call value of 0 versus a total put value of 6,200,000 Combined total value = 6,200,000
Strike 81300 has a total call value of 0 versus a total put value of 1,300,000 Combined total value = 1,300,000
Strike 81400 has a total call value of 2,300,000 versus a total put value of 1,000,000 Combined total value = 3,300,000
Strike 81500 has a total call value of 4,600,000 versus a total put value of 700,000 Combined total value = 5,300,000
Strike 81600 has a total call value of 9,800,000 versus a total put value of 600,000 Combined total value = 10,400,000
Strike 81700 has a total call value of 15,000,000 versus a total put value of 500,000 Combined total value = 15,500,000
Strike 81800 has a total call value of 23,100,000 versus a total put value of 400,000 Combined total value = 23,500,000
Strike 81900 has a total call value of 31,400,000 versus a total put value of 300,000 Combined total value = 31,700,000
Strike 82000 has a total call value of 41,900,000 versus a total put value of 200,000 Combined total value = 42,100,000
Strike 82100 has a total call value of 54,600,000 versus a total put value of 100,000 Combined total value = 54,700,000
Strike 82200 has a total call value of 67,300,000 versus a total put value of 0 Combined total value = 67,300,000
Strike 82300 has a total call value of 80,000,000 versus a total put value of 0 Combined total value = 80,000,000
Strike 82400 has a total call value of 92,700,000 versus a total put value of 0 Combined total value = 92,700,000
Strike 82500 has a total call value of 105,400,000 versus a total put value of 0 Combined total value = 105,400,000
Strike 82600 has a total call value of 119,800,000 versus a total put value of 0 Combined total value = 119,800,000
Strike 82700 has a total call value of 134,200,000 versus a total put value of 0 Combined total value = 134,200,000
Strike 82800 has a total call value of 148,600,000 versus a total put value of 0 Combined total value = 148,600,000
Strike 82900 has a total call value of 163,000,000 versus a total put value of 0 Combined total value = 163,000,000
Strike 83000 has a total call value of 177,400,000 versus a total put value of 0 Combined total value = 177,400,000
Strike 83100 has a total call value of 191,800,000 versus a total put value of 0 Combined total value = 191,800,000
Strike 83200 has a total call value of 206,200,000 versus a total put value of 0 Combined total value = 206,200,000
Strike 83300 has a total call value of 220,600,000 versus a total put value of 0 Combined total value = 220,600,000
Strike 83400 has a total call value of 235,000,000 versus a total put value of 0 Combined total value = 235,000,000
Strike 83500 has a total call value of 249,400,000 versus a total put value of 0 Combined total value = 249,400,000
Strike 83600 has a total call value of 263,800,000 versus a total put value of 0 Combined total value = 263,800,000
Strike 83700 has a total call value of 278,200,000 versus a total put value of 0 Combined total value = 278,200,000
Strike 83800 has a total call value of 292,600,000 versus a total put value of 0 Combined total value = 292,600,000
Strike 83900 has a total call value of 307,000,000 versus a total put value of 0 Combined total value = 307,000,000
Strike 84000 has a total call value of 321,400,000 versus a total put value of 0 Combined total value = 321,400,000
Strike 84100 has a total call value of 335,800,000 versus a total put value of 0 Combined total value = 335,800,000
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.
