TATAPOWER
TATA POWER CO LTD
Max pain for TATAPOWER
04 Jul 2024 12:11 PM IST
Max Pain for TATAPOWER is 440
Strike 340 has a total call value of 0 versus a total put value of 178,722,450,000 Combined total value = 178,722,450,000
Strike 345 has a total call value of 0 versus a total put value of 168,167,475,000 Combined total value = 168,167,475,000
Strike 350 has a total call value of 0 versus a total put value of 157,612,500,000 Combined total value = 157,612,500,000
Strike 355 has a total call value of 0 versus a total put value of 147,301,875,000 Combined total value = 147,301,875,000
Strike 360 has a total call value of 0 versus a total put value of 136,991,250,000 Combined total value = 136,991,250,000
Strike 365 has a total call value of 0 versus a total put value of 126,690,750,000 Combined total value = 126,690,750,000
Strike 370 has a total call value of 0 versus a total put value of 116,390,250,000 Combined total value = 116,390,250,000
Strike 375 has a total call value of 0 versus a total put value of 106,128,225,000 Combined total value = 106,128,225,000
Strike 380 has a total call value of 0 versus a total put value of 95,866,200,000 Combined total value = 95,866,200,000
Strike 385 has a total call value of 5,400,000 versus a total put value of 85,933,575,000 Combined total value = 85,938,975,000
Strike 390 has a total call value of 10,800,000 versus a total put value of 76,029,975,000 Combined total value = 76,040,775,000
Strike 395 has a total call value of 45,900,000 versus a total put value of 66,349,800,000 Combined total value = 66,395,700,000
Strike 400 has a total call value of 84,375,000 versus a total put value of 56,791,800,000 Combined total value = 56,876,175,000
Strike 405 has a total call value of 320,625,000 versus a total put value of 48,404,250,000 Combined total value = 48,724,875,000
Strike 410 has a total call value of 563,625,000 versus a total put value of 40,206,375,000 Combined total value = 40,770,000,000
Strike 415 has a total call value of 859,950,000 versus a total put value of 33,063,525,000 Combined total value = 33,923,475,000
Strike 420 has a total call value of 1,156,275,000 versus a total put value of 26,059,725,000 Combined total value = 27,216,000,000
Strike 425 has a total call value of 1,692,225,000 versus a total put value of 20,598,300,000 Combined total value = 22,290,525,000
Strike 430 has a total call value of 2,321,325,000 versus a total put value of 15,479,100,000 Combined total value = 17,800,425,000
Strike 435 has a total call value of 3,853,575,000 versus a total put value of 11,479,725,000 Combined total value = 15,333,300,000
Strike 440 has a total call value of 5,961,600,000 versus a total put value of 7,999,425,000 Combined total value = 13,961,025,000
Strike 445 has a total call value of 10,519,200,000 versus a total put value of 5,842,125,000 Combined total value = 16,361,325,000
Strike 450 has a total call value of 16,869,600,000 versus a total put value of 3,975,750,000 Combined total value = 20,845,350,000
Strike 455 has a total call value of 25,756,650,000 versus a total put value of 2,764,800,000 Combined total value = 28,521,450,000
Strike 460 has a total call value of 35,075,025,000 versus a total put value of 1,642,275,000 Combined total value = 36,717,300,000
Strike 465 has a total call value of 46,399,500,000 versus a total put value of 1,238,625,000 Combined total value = 47,638,125,000
Strike 470 has a total call value of 58,051,350,000 versus a total put value of 909,900,000 Combined total value = 58,961,250,000
Strike 475 has a total call value of 70,598,925,000 versus a total put value of 741,825,000 Combined total value = 71,340,750,000
Strike 480 has a total call value of 83,339,550,000 versus a total put value of 573,750,000 Combined total value = 83,913,300,000
Strike 485 has a total call value of 96,964,425,000 versus a total put value of 438,750,000 Combined total value = 97,403,175,000
Strike 490 has a total call value of 110,665,575,000 versus a total put value of 304,425,000 Combined total value = 110,970,000,000
Strike 495 has a total call value of 124,794,000,000 versus a total put value of 170,100,000 Combined total value = 124,964,100,000
Strike 500 has a total call value of 138,979,125,000 versus a total put value of 35,775,000 Combined total value = 139,014,900,000
Strike 505 has a total call value of 155,251,350,000 versus a total put value of 24,300,000 Combined total value = 155,275,650,000
Strike 510 has a total call value of 171,578,925,000 versus a total put value of 12,825,000 Combined total value = 171,591,750,000
Strike 515 has a total call value of 188,040,150,000 versus a total put value of 4,050,000 Combined total value = 188,044,200,000
Strike 520 has a total call value of 204,623,550,000 versus a total put value of 0 Combined total value = 204,623,550,000
Strike 525 has a total call value of 221,518,125,000 versus a total put value of 0 Combined total value = 221,518,125,000
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.