SHREECEM
SHREE CEMENT LIMITED
Max pain for SHREECEM
28 Mar 2024 03:58 PM IST
Max Pain for SHREECEM is 26000
Strike 25000 has a total call value of 0 versus a total put value of 696,250,000 Combined total value = 696,250,000
Strike 25250 has a total call value of 22,500,000 versus a total put value of 588,750,000 Combined total value = 611,250,000
Strike 25500 has a total call value of 45,000,000 versus a total put value of 486,875,000 Combined total value = 531,875,000
Strike 25750 has a total call value of 67,500,000 versus a total put value of 385,000,000 Combined total value = 452,500,000
Strike 26000 has a total call value of 90,000,000 versus a total put value of 283,750,000 Combined total value = 373,750,000
Strike 26250 has a total call value of 173,750,000 versus a total put value of 210,000,000 Combined total value = 383,750,000
Strike 26500 has a total call value of 257,500,000 versus a total put value of 136,250,000 Combined total value = 393,750,000
Strike 26750 has a total call value of 341,250,000 versus a total put value of 68,750,000 Combined total value = 410,000,000
Strike 27000 has a total call value of 425,000,000 versus a total put value of 1,250,000 Combined total value = 426,250,000
Strike 27250 has a total call value of 623,125,000 versus a total put value of 625,000 Combined total value = 623,750,000
Strike 27500 has a total call value of 821,250,000 versus a total put value of 0 Combined total value = 821,250,000
Strike 27750 has a total call value of 1,019,375,000 versus a total put value of 0 Combined total value = 1,019,375,000
Strike 28000 has a total call value of 1,217,500,000 versus a total put value of 0 Combined total value = 1,217,500,000
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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.