TATASTEEL
Tata Steel Limited
Max pain for TATASTEEL
11 Oct 2024 04:12 PM IST
Max Pain for TATASTEEL is 162.5
Strike 125 has a total call value of 0 versus a total put value of 463,241,625,000 Combined total value = 463,241,625,000
Strike 127.5 has a total call value of 0 versus a total put value of 428,869,375,000 Combined total value = 428,869,375,000
Strike 130 has a total call value of 0 versus a total put value of 394,497,125,000 Combined total value = 394,497,125,000
Strike 132.5 has a total call value of 0 versus a total put value of 360,608,875,000 Combined total value = 360,608,875,000
Strike 135 has a total call value of 0 versus a total put value of 326,720,625,000 Combined total value = 326,720,625,000
Strike 137.5 has a total call value of 0 versus a total put value of 293,513,000,000 Combined total value = 293,513,000,000
Strike 140 has a total call value of 1,375,000 versus a total put value of 260,305,375,000 Combined total value = 260,306,750,000
Strike 142.5 has a total call value of 162,250,000 versus a total put value of 228,621,250,000 Combined total value = 228,783,500,000
Strike 145 has a total call value of 342,375,000 versus a total put value of 197,389,500,000 Combined total value = 197,731,875,000
Strike 147.5 has a total call value of 686,125,000 versus a total put value of 167,600,125,000 Combined total value = 168,286,250,000
Strike 150 has a total call value of 1,087,625,000 versus a total put value of 138,437,750,000 Combined total value = 139,525,375,000
Strike 152.5 has a total call value of 2,253,625,000 versus a total put value of 112,440,625,000 Combined total value = 114,694,250,000
Strike 155 has a total call value of 3,719,375,000 versus a total put value of 87,634,250,000 Combined total value = 91,353,625,000
Strike 157.5 has a total call value of 6,305,750,000 versus a total put value of 66,374,000,000 Combined total value = 72,679,750,000
Strike 160 has a total call value of 9,466,875,000 versus a total put value of 46,634,500,000 Combined total value = 56,101,375,000
Strike 162.5 has a total call value of 19,751,875,000 versus a total put value of 33,185,625,000 Combined total value = 52,937,500,000
Strike 165 has a total call value of 32,223,125,000 versus a total put value of 21,054,000,000 Combined total value = 53,277,125,000
Strike 167.5 has a total call value of 51,517,125,000 versus a total put value of 13,814,625,000 Combined total value = 65,331,750,000
Strike 170 has a total call value of 74,065,750,000 versus a total put value of 7,907,625,000 Combined total value = 81,973,375,000
Strike 172.5 has a total call value of 107,857,750,000 versus a total put value of 5,057,250,000 Combined total value = 112,915,000,000
Strike 175 has a total call value of 144,490,500,000 versus a total put value of 2,553,375,000 Combined total value = 147,043,875,000
Strike 177.5 has a total call value of 186,987,625,000 versus a total put value of 1,386,000,000 Combined total value = 188,373,625,000
Strike 180 has a total call value of 230,740,125,000 versus a total put value of 354,750,000 Combined total value = 231,094,875,000
Strike 182.5 has a total call value of 281,705,875,000 versus a total put value of 151,250,000 Combined total value = 281,857,125,000
Strike 185 has a total call value of 333,377,000,000 versus a total put value of 0 Combined total value = 333,377,000,000
Strike 187.5 has a total call value of 387,673,000,000 versus a total put value of 0 Combined total value = 387,673,000,000
Strike 190 has a total call value of 441,969,000,000 versus a total put value of 0 Combined total value = 441,969,000,000
Strike 192.5 has a total call value of 499,186,875,000 versus a total put value of 0 Combined total value = 499,186,875,000
Strike 195 has a total call value of 556,404,750,000 versus a total put value of 0 Combined total value = 556,404,750,000
Strike 197.5 has a total call value of 613,897,625,000 versus a total put value of 0 Combined total value = 613,897,625,000
Strike 200 has a total call value of 671,390,500,000 versus a total put value of 0 Combined total value = 671,390,500,000
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.