TATASTEEL
TATA STEEL LIMITED
Max pain for TATASTEEL
26 Jul 2024 04:13 PM IST
Max Pain for TATASTEEL is 165
Strike 130 has a total call value of 0 versus a total put value of 183,288,435,000 Combined total value = 183,288,435,000
Strike 130.4 has a total call value of 440,000 versus a total put value of 180,725,215,000 Combined total value = 180,725,655,000
Strike 132.4 has a total call value of 2,640,000 versus a total put value of 167,909,115,000 Combined total value = 167,911,755,000
Strike 132.5 has a total call value of 2,750,000 versus a total put value of 167,268,310,000 Combined total value = 167,271,060,000
Strike 134.4 has a total call value of 4,840,000 versus a total put value of 155,093,015,000 Combined total value = 155,097,855,000
Strike 135 has a total call value of 5,500,000 versus a total put value of 151,248,185,000 Combined total value = 151,253,685,000
Strike 136.4 has a total call value of 9,350,000 versus a total put value of 142,480,195,000 Combined total value = 142,489,545,000
Strike 137.5 has a total call value of 12,375,000 versus a total put value of 135,659,425,000 Combined total value = 135,671,800,000
Strike 138.4 has a total call value of 15,840,000 versus a total put value of 130,086,220,000 Combined total value = 130,102,060,000
Strike 140 has a total call value of 22,000,000 versus a total put value of 120,178,300,000 Combined total value = 120,200,300,000
Strike 140.4 has a total call value of 34,540,000 versus a total put value of 117,989,300,000 Combined total value = 118,023,840,000
Strike 142.4 has a total call value of 97,240,000 versus a total put value of 107,044,300,000 Combined total value = 107,141,540,000
Strike 142.5 has a total call value of 100,375,000 versus a total put value of 106,497,050,000 Combined total value = 106,597,425,000
Strike 144.4 has a total call value of 214,280,000 versus a total put value of 96,310,390,000 Combined total value = 96,524,670,000
Strike 145 has a total call value of 250,250,000 versus a total put value of 93,093,550,000 Combined total value = 93,343,800,000
Strike 146.4 has a total call value of 559,790,000 versus a total put value of 86,125,820,000 Combined total value = 86,685,610,000
Strike 147.5 has a total call value of 803,000,000 versus a total put value of 80,691,105,000 Combined total value = 81,494,105,000
Strike 148.4 has a total call value of 1,005,950,000 versus a total put value of 76,280,160,000 Combined total value = 77,286,110,000
Strike 150 has a total call value of 1,366,750,000 versus a total put value of 68,438,480,000 Combined total value = 69,805,230,000
Strike 150.4 has a total call value of 1,494,570,000 versus a total put value of 66,725,120,000 Combined total value = 68,219,690,000
Strike 152.4 has a total call value of 2,133,670,000 versus a total put value of 58,158,320,000 Combined total value = 60,291,990,000
Strike 152.5 has a total call value of 2,165,625,000 versus a total put value of 57,729,980,000 Combined total value = 59,895,605,000
Strike 154.4 has a total call value of 2,794,715,000 versus a total put value of 49,851,725,000 Combined total value = 52,646,440,000
Strike 155 has a total call value of 2,993,375,000 versus a total put value of 47,363,855,000 Combined total value = 50,357,230,000
Strike 156 has a total call value of 3,504,875,000 versus a total put value of 43,587,005,000 Combined total value = 47,091,880,000
Strike 156.4 has a total call value of 3,709,475,000 versus a total put value of 42,107,505,000 Combined total value = 45,816,980,000
Strike 157.5 has a total call value of 4,272,125,000 versus a total put value of 38,086,675,000 Combined total value = 42,358,800,000
Strike 158.4 has a total call value of 4,789,895,000 versus a total put value of 34,912,735,000 Combined total value = 39,702,630,000
Strike 160 has a total call value of 5,710,375,000 versus a total put value of 29,351,135,000 Combined total value = 35,061,510,000
Strike 160.4 has a total call value of 6,328,795,000 versus a total put value of 28,441,875,000 Combined total value = 34,770,670,000
Strike 162.4 has a total call value of 9,420,895,000 versus a total put value of 23,895,575,000 Combined total value = 33,316,470,000
Strike 162.5 has a total call value of 9,575,500,000 versus a total put value of 23,668,260,000 Combined total value = 33,243,760,000
Strike 164.4 has a total call value of 13,068,935,000 versus a total put value of 19,708,755,000 Combined total value = 32,777,690,000
Strike 165 has a total call value of 14,172,125,000 versus a total put value of 18,458,385,000 Combined total value = 32,630,510,000
Strike 166.4 has a total call value of 18,123,765,000 versus a total put value of 16,132,985,000 Combined total value = 34,256,750,000
Strike 167.5 has a total call value of 21,228,625,000 versus a total put value of 14,305,885,000 Combined total value = 35,534,510,000
Strike 168.4 has a total call value of 23,940,235,000 versus a total put value of 12,878,305,000 Combined total value = 36,818,540,000
Strike 170 has a total call value of 28,760,875,000 versus a total put value of 10,340,385,000 Combined total value = 39,101,260,000
Strike 170.4 has a total call value of 30,644,075,000 versus a total put value of 9,938,225,000 Combined total value = 40,582,300,000
Strike 172.4 has a total call value of 40,060,075,000 versus a total put value of 7,927,425,000 Combined total value = 47,987,500,000
Strike 172.5 has a total call value of 40,530,875,000 versus a total put value of 7,826,885,000 Combined total value = 48,357,760,000
Strike 174.4 has a total call value of 49,756,135,000 versus a total put value of 6,021,125,000 Combined total value = 55,777,260,000
Strike 175 has a total call value of 52,669,375,000 versus a total put value of 5,450,885,000 Combined total value = 58,120,260,000
Strike 176.4 has a total call value of 60,670,445,000 versus a total put value of 4,700,135,000 Combined total value = 65,370,580,000
Strike 177.5 has a total call value of 67,071,345,000 versus a total put value of 4,148,375,000 Combined total value = 71,219,720,000
Strike 178.4 has a total call value of 72,398,040,000 versus a total put value of 3,711,290,000 Combined total value = 76,109,330,000
Strike 180 has a total call value of 81,867,720,000 versus a total put value of 2,934,250,000 Combined total value = 84,801,970,000
Strike 180.4 has a total call value of 84,756,980,000 versus a total put value of 2,830,190,000 Combined total value = 87,587,170,000
Strike 182.4 has a total call value of 99,203,280,000 versus a total put value of 2,309,890,000 Combined total value = 101,513,170,000
Strike 182.5 has a total call value of 99,925,595,000 versus a total put value of 2,283,875,000 Combined total value = 102,209,470,000
Strike 184.4 has a total call value of 113,854,400,000 versus a total put value of 1,807,355,000 Combined total value = 115,661,755,000
Strike 185 has a total call value of 118,252,970,000 versus a total put value of 1,656,875,000 Combined total value = 119,909,845,000
Strike 186.4 has a total call value of 128,965,210,000 versus a total put value of 1,473,615,000 Combined total value = 130,438,825,000
Strike 187.5 has a total call value of 137,414,640,000 versus a total put value of 1,329,625,000 Combined total value = 138,744,265,000
Strike 188.4 has a total call value of 144,361,470,000 versus a total put value of 1,215,280,000 Combined total value = 145,576,750,000
Strike 190 has a total call value of 156,711,390,000 versus a total put value of 1,012,000,000 Combined total value = 157,723,390,000
Strike 190.4 has a total call value of 159,955,950,000 versus a total put value of 971,520,000 Combined total value = 160,927,470,000
Strike 192.4 has a total call value of 176,178,750,000 versus a total put value of 769,120,000 Combined total value = 176,947,870,000
Strike 192.5 has a total call value of 176,989,890,000 versus a total put value of 759,000,000 Combined total value = 177,748,890,000
Strike 195 has a total call value of 197,337,140,000 versus a total put value of 506,000,000 Combined total value = 197,843,140,000
Strike 196.4 has a total call value of 208,806,290,000 versus a total put value of 364,320,000 Combined total value = 209,170,610,000
Strike 197.5 has a total call value of 217,841,360,000 versus a total put value of 253,000,000 Combined total value = 218,094,360,000
Strike 200 has a total call value of 238,375,610,000 versus a total put value of 0 Combined total value = 238,375,610,000
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.