TATASTEEL
TATA STEEL LIMITED
Max pain for TATASTEEL
02 Jul 2024 10:53 AM IST
Max Pain for TATASTEEL is 175
Strike 120.4 has a total call value of 0 versus a total put value of 241,780,220,000 Combined total value = 241,780,220,000
Strike 122 has a total call value of 0 versus a total put value of 233,849,660,000 Combined total value = 233,849,660,000
Strike 122.4 has a total call value of 0 versus a total put value of 231,867,020,000 Combined total value = 231,867,020,000
Strike 122.5 has a total call value of 0 versus a total put value of 231,371,360,000 Combined total value = 231,371,360,000
Strike 124 has a total call value of 0 versus a total put value of 223,936,460,000 Combined total value = 223,936,460,000
Strike 124.4 has a total call value of 0 versus a total put value of 221,953,820,000 Combined total value = 221,953,820,000
Strike 125 has a total call value of 0 versus a total put value of 218,979,860,000 Combined total value = 218,979,860,000
Strike 126 has a total call value of 0 versus a total put value of 214,023,260,000 Combined total value = 214,023,260,000
Strike 127.4 has a total call value of 0 versus a total put value of 207,084,020,000 Combined total value = 207,084,020,000
Strike 127.5 has a total call value of 0 versus a total put value of 206,588,360,000 Combined total value = 206,588,360,000
Strike 128 has a total call value of 0 versus a total put value of 204,110,060,000 Combined total value = 204,110,060,000
Strike 128.4 has a total call value of 0 versus a total put value of 202,127,420,000 Combined total value = 202,127,420,000
Strike 129.4 has a total call value of 0 versus a total put value of 197,170,820,000 Combined total value = 197,170,820,000
Strike 130 has a total call value of 0 versus a total put value of 194,196,860,000 Combined total value = 194,196,860,000
Strike 130.4 has a total call value of 0 versus a total put value of 192,214,220,000 Combined total value = 192,214,220,000
Strike 131.4 has a total call value of 0 versus a total put value of 187,257,620,000 Combined total value = 187,257,620,000
Strike 132 has a total call value of 0 versus a total put value of 184,283,660,000 Combined total value = 184,283,660,000
Strike 132.4 has a total call value of 0 versus a total put value of 182,301,020,000 Combined total value = 182,301,020,000
Strike 132.5 has a total call value of 0 versus a total put value of 181,805,360,000 Combined total value = 181,805,360,000
Strike 133.4 has a total call value of 0 versus a total put value of 177,344,420,000 Combined total value = 177,344,420,000
Strike 134 has a total call value of 0 versus a total put value of 174,370,460,000 Combined total value = 174,370,460,000
Strike 134.4 has a total call value of 0 versus a total put value of 172,387,820,000 Combined total value = 172,387,820,000
Strike 135 has a total call value of 0 versus a total put value of 169,413,860,000 Combined total value = 169,413,860,000
Strike 135.4 has a total call value of 0 versus a total put value of 167,431,220,000 Combined total value = 167,431,220,000
Strike 136 has a total call value of 0 versus a total put value of 164,457,260,000 Combined total value = 164,457,260,000
Strike 136.4 has a total call value of 0 versus a total put value of 162,474,620,000 Combined total value = 162,474,620,000
Strike 137 has a total call value of 0 versus a total put value of 159,500,660,000 Combined total value = 159,500,660,000
Strike 137.4 has a total call value of 0 versus a total put value of 157,518,020,000 Combined total value = 157,518,020,000
Strike 137.5 has a total call value of 0 versus a total put value of 157,022,360,000 Combined total value = 157,022,360,000
Strike 138 has a total call value of 0 versus a total put value of 154,544,060,000 Combined total value = 154,544,060,000
Strike 138.4 has a total call value of 0 versus a total put value of 152,561,420,000 Combined total value = 152,561,420,000
Strike 139 has a total call value of 0 versus a total put value of 149,587,460,000 Combined total value = 149,587,460,000
Strike 139.4 has a total call value of 0 versus a total put value of 147,604,820,000 Combined total value = 147,604,820,000
Strike 140 has a total call value of 0 versus a total put value of 144,630,860,000 Combined total value = 144,630,860,000
Strike 140.4 has a total call value of 0 versus a total put value of 142,648,220,000 Combined total value = 142,648,220,000
Strike 141 has a total call value of 0 versus a total put value of 139,680,860,000 Combined total value = 139,680,860,000
Strike 141.4 has a total call value of 0 versus a total put value of 137,702,620,000 Combined total value = 137,702,620,000
Strike 142 has a total call value of 0 versus a total put value of 134,735,260,000 Combined total value = 134,735,260,000
Strike 142.4 has a total call value of 0 versus a total put value of 132,757,020,000 Combined total value = 132,757,020,000
Strike 142.5 has a total call value of 0 versus a total put value of 132,262,460,000 Combined total value = 132,262,460,000
Strike 143 has a total call value of 0 versus a total put value of 129,789,660,000 Combined total value = 129,789,660,000
Strike 143.4 has a total call value of 0 versus a total put value of 127,811,420,000 Combined total value = 127,811,420,000
Strike 144 has a total call value of 0 versus a total put value of 124,844,060,000 Combined total value = 124,844,060,000
Strike 144.4 has a total call value of 0 versus a total put value of 122,865,820,000 Combined total value = 122,865,820,000
Strike 145 has a total call value of 0 versus a total put value of 119,898,460,000 Combined total value = 119,898,460,000
Strike 145.4 has a total call value of 0 versus a total put value of 117,920,220,000 Combined total value = 117,920,220,000
Strike 146 has a total call value of 0 versus a total put value of 114,953,520,000 Combined total value = 114,953,520,000
Strike 146.4 has a total call value of 0 versus a total put value of 112,975,720,000 Combined total value = 112,975,720,000
Strike 147 has a total call value of 0 versus a total put value of 110,055,550,000 Combined total value = 110,055,550,000
Strike 147.4 has a total call value of 0 versus a total put value of 108,108,770,000 Combined total value = 108,108,770,000
Strike 147.5 has a total call value of 0 versus a total put value of 107,622,075,000 Combined total value = 107,622,075,000
Strike 148 has a total call value of 0 versus a total put value of 105,188,600,000 Combined total value = 105,188,600,000
Strike 148.4 has a total call value of 0 versus a total put value of 103,241,820,000 Combined total value = 103,241,820,000
Strike 149 has a total call value of 0 versus a total put value of 100,322,970,000 Combined total value = 100,322,970,000
Strike 149.4 has a total call value of 0 versus a total put value of 98,377,070,000 Combined total value = 98,377,070,000
Strike 150 has a total call value of 0 versus a total put value of 95,458,220,000 Combined total value = 95,458,220,000
Strike 150.4 has a total call value of 0 versus a total put value of 93,530,360,000 Combined total value = 93,530,360,000
Strike 151 has a total call value of 0 versus a total put value of 90,665,300,000 Combined total value = 90,665,300,000
Strike 151.4 has a total call value of 0 versus a total put value of 88,755,260,000 Combined total value = 88,755,260,000
Strike 152 has a total call value of 0 versus a total put value of 85,893,170,000 Combined total value = 85,893,170,000
Strike 152.4 has a total call value of 0 versus a total put value of 83,985,110,000 Combined total value = 83,985,110,000
Strike 152.5 has a total call value of 0 versus a total put value of 83,511,285,000 Combined total value = 83,511,285,000
Strike 153 has a total call value of 0 versus a total put value of 81,142,160,000 Combined total value = 81,142,160,000
Strike 153.4 has a total call value of 0 versus a total put value of 79,246,860,000 Combined total value = 79,246,860,000
Strike 154 has a total call value of 330,000 versus a total put value of 76,403,910,000 Combined total value = 76,404,240,000
Strike 154.4 has a total call value of 550,000 versus a total put value of 74,519,830,000 Combined total value = 74,520,380,000
Strike 155 has a total call value of 880,000 versus a total put value of 71,693,710,000 Combined total value = 71,694,590,000
Strike 155.4 has a total call value of 1,100,000 versus a total put value of 69,829,870,000 Combined total value = 69,830,970,000
Strike 156 has a total call value of 1,430,000 versus a total put value of 67,034,110,000 Combined total value = 67,035,540,000
Strike 156.4 has a total call value of 1,650,000 versus a total put value of 65,197,550,000 Combined total value = 65,199,200,000
Strike 157 has a total call value of 1,980,000 versus a total put value of 62,556,230,000 Combined total value = 62,558,210,000
Strike 157.4 has a total call value of 2,200,000 versus a total put value of 60,795,350,000 Combined total value = 60,797,550,000
Strike 157.5 has a total call value of 2,255,000 versus a total put value of 60,355,130,000 Combined total value = 60,357,385,000
Strike 158 has a total call value of 2,530,000 versus a total put value of 58,154,030,000 Combined total value = 58,156,560,000
Strike 158.4 has a total call value of 2,750,000 versus a total put value of 56,408,990,000 Combined total value = 56,411,740,000
Strike 159 has a total call value of 3,080,000 versus a total put value of 53,793,080,000 Combined total value = 53,796,160,000
Strike 159.4 has a total call value of 3,300,000 versus a total put value of 52,049,140,000 Combined total value = 52,052,440,000
Strike 160 has a total call value of 3,630,000 versus a total put value of 49,433,230,000 Combined total value = 49,436,860,000
Strike 160.4 has a total call value of 3,850,000 versus a total put value of 47,910,610,000 Combined total value = 47,914,460,000
Strike 161 has a total call value of 4,180,000 versus a total put value of 45,664,630,000 Combined total value = 45,668,810,000
Strike 161.4 has a total call value of 4,400,000 versus a total put value of 44,167,310,000 Combined total value = 44,171,710,000
Strike 162 has a total call value of 4,730,000 versus a total put value of 41,963,240,000 Combined total value = 41,967,970,000
Strike 162.4 has a total call value of 4,950,000 versus a total put value of 40,536,320,000 Combined total value = 40,541,270,000
Strike 162.5 has a total call value of 5,005,000 versus a total put value of 40,181,185,000 Combined total value = 40,186,190,000
Strike 163 has a total call value of 5,280,000 versus a total put value of 38,405,510,000 Combined total value = 38,410,790,000
Strike 163.4 has a total call value of 5,500,000 versus a total put value of 36,996,190,000 Combined total value = 37,001,690,000
Strike 164 has a total call value of 5,830,000 versus a total put value of 34,882,210,000 Combined total value = 34,888,040,000
Strike 164.4 has a total call value of 6,050,000 versus a total put value of 33,488,070,000 Combined total value = 33,494,120,000
Strike 165 has a total call value of 6,380,000 versus a total put value of 31,410,060,000 Combined total value = 31,416,440,000
Strike 165.4 has a total call value of 14,300,000 versus a total put value of 30,122,620,000 Combined total value = 30,136,920,000
Strike 166 has a total call value of 26,180,000 versus a total put value of 28,267,030,000 Combined total value = 28,293,210,000
Strike 166.4 has a total call value of 34,100,000 versus a total put value of 27,041,630,000 Combined total value = 27,075,730,000
Strike 167 has a total call value of 45,980,000 versus a total put value of 25,401,200,000 Combined total value = 25,447,180,000
Strike 167.4 has a total call value of 53,900,000 versus a total put value of 24,317,040,000 Combined total value = 24,370,940,000
Strike 167.5 has a total call value of 55,880,000 versus a total put value of 24,050,180,000 Combined total value = 24,106,060,000
Strike 168 has a total call value of 65,780,000 versus a total put value of 22,724,405,000 Combined total value = 22,790,185,000
Strike 168.4 has a total call value of 73,700,000 versus a total put value of 21,688,865,000 Combined total value = 21,762,565,000
Strike 169 has a total call value of 85,580,000 versus a total put value of 20,148,755,000 Combined total value = 20,234,335,000
Strike 169.4 has a total call value of 93,500,000 versus a total put value of 19,132,135,000 Combined total value = 19,225,635,000
Strike 170 has a total call value of 110,330,000 versus a total put value of 17,626,015,000 Combined total value = 17,736,345,000
Strike 170.4 has a total call value of 195,030,000 versus a total put value of 16,795,075,000 Combined total value = 16,990,105,000
Strike 171 has a total call value of 326,040,000 versus a total put value of 15,579,355,000 Combined total value = 15,905,395,000
Strike 171.4 has a total call value of 417,120,000 versus a total put value of 14,776,795,000 Combined total value = 15,193,915,000
Strike 172 has a total call value of 589,380,000 versus a total put value of 13,620,145,000 Combined total value = 14,209,525,000
Strike 172.4 has a total call value of 716,760,000 versus a total put value of 12,865,985,000 Combined total value = 13,582,745,000
Strike 172.5 has a total call value of 752,620,000 versus a total put value of 12,679,810,000 Combined total value = 13,432,430,000
Strike 173 has a total call value of 934,395,000 versus a total put value of 11,755,260,000 Combined total value = 12,689,655,000
Strike 173.4 has a total call value of 1,127,335,000 versus a total put value of 11,038,500,000 Combined total value = 12,165,835,000
Strike 174 has a total call value of 1,440,175,000 versus a total put value of 9,985,140,000 Combined total value = 11,425,315,000
Strike 174.4 has a total call value of 1,699,775,000 versus a total put value of 9,316,340,000 Combined total value = 11,016,115,000
Strike 175 has a total call value of 2,148,575,000 versus a total put value of 8,358,350,000 Combined total value = 10,506,925,000
Strike 175.4 has a total call value of 2,747,635,000 versus a total put value of 7,890,190,000 Combined total value = 10,637,825,000
Strike 176 has a total call value of 3,708,925,000 versus a total put value of 7,231,180,000 Combined total value = 10,940,105,000
Strike 176.4 has a total call value of 4,410,285,000 versus a total put value of 6,822,860,000 Combined total value = 11,233,145,000
Strike 177 has a total call value of 5,620,395,000 versus a total put value of 6,341,060,000 Combined total value = 11,961,455,000
Strike 177.4 has a total call value of 6,495,115,000 versus a total put value of 6,032,400,000 Combined total value = 12,527,515,000
Strike 177.5 has a total call value of 6,719,240,000 versus a total put value of 5,961,230,000 Combined total value = 12,680,470,000
Strike 178 has a total call value of 7,854,990,000 versus a total put value of 5,611,430,000 Combined total value = 13,466,420,000
Strike 178.4 has a total call value of 8,804,730,000 versus a total put value of 5,344,570,000 Combined total value = 14,149,300,000
Strike 179 has a total call value of 10,254,750,000 versus a total put value of 4,954,180,000 Combined total value = 15,208,930,000
Strike 179.4 has a total call value of 11,232,870,000 versus a total put value of 4,698,100,000 Combined total value = 15,930,970,000
Strike 180 has a total call value of 12,724,140,000 versus a total put value of 4,313,980,000 Combined total value = 17,038,120,000
Strike 180.4 has a total call value of 14,151,720,000 versus a total put value of 4,122,580,000 Combined total value = 18,274,300,000
Strike 181 has a total call value of 16,402,320,000 versus a total put value of 3,835,480,000 Combined total value = 20,237,800,000
Strike 181.4 has a total call value of 17,957,720,000 versus a total put value of 3,644,080,000 Combined total value = 21,601,800,000
Strike 182 has a total call value of 20,403,350,000 versus a total put value of 3,414,400,000 Combined total value = 23,817,750,000
Strike 182.4 has a total call value of 22,192,610,000 versus a total put value of 3,261,280,000 Combined total value = 25,453,890,000
Strike 182.5 has a total call value of 22,646,525,000 versus a total put value of 3,223,000,000 Combined total value = 25,869,525,000
Strike 183 has a total call value of 24,922,700,000 versus a total put value of 3,031,600,000 Combined total value = 27,954,300,000
Strike 183.4 has a total call value of 26,761,680,000 versus a total put value of 2,878,480,000 Combined total value = 29,640,160,000
Strike 184 has a total call value of 29,534,010,000 versus a total put value of 2,648,800,000 Combined total value = 32,182,810,000
Strike 184.4 has a total call value of 31,390,810,000 versus a total put value of 2,495,680,000 Combined total value = 33,886,490,000
Strike 185 has a total call value of 34,193,500,000 versus a total put value of 2,266,000,000 Combined total value = 36,459,500,000
Strike 185.4 has a total call value of 36,267,440,000 versus a total put value of 2,143,680,000 Combined total value = 38,411,120,000
Strike 186 has a total call value of 39,434,120,000 versus a total put value of 1,960,200,000 Combined total value = 41,394,320,000
Strike 186.4 has a total call value of 41,555,580,000 versus a total put value of 1,837,880,000 Combined total value = 43,393,460,000
Strike 187 has a total call value of 44,962,830,000 versus a total put value of 1,715,780,000 Combined total value = 46,678,610,000
Strike 187.4 has a total call value of 47,234,330,000 versus a total put value of 1,634,380,000 Combined total value = 48,868,710,000
Strike 187.5 has a total call value of 47,804,075,000 versus a total put value of 1,614,030,000 Combined total value = 49,418,105,000
Strike 188 has a total call value of 50,652,800,000 versus a total put value of 1,512,280,000 Combined total value = 52,165,080,000
Strike 188.4 has a total call value of 52,953,120,000 versus a total put value of 1,430,880,000 Combined total value = 54,384,000,000
Strike 189 has a total call value of 56,413,170,000 versus a total put value of 1,308,780,000 Combined total value = 57,721,950,000
Strike 189.4 has a total call value of 58,719,870,000 versus a total put value of 1,227,380,000 Combined total value = 59,947,250,000
Strike 190 has a total call value of 62,179,920,000 versus a total put value of 1,105,280,000 Combined total value = 63,285,200,000
Strike 190.4 has a total call value of 64,755,240,000 versus a total put value of 1,036,200,000 Combined total value = 65,791,440,000
Strike 191 has a total call value of 68,697,420,000 versus a total put value of 932,580,000 Combined total value = 69,630,000,000
Strike 191.4 has a total call value of 71,333,460,000 versus a total put value of 863,500,000 Combined total value = 72,196,960,000
Strike 192 has a total call value of 75,329,430,000 versus a total put value of 759,880,000 Combined total value = 76,089,310,000
Strike 192.4 has a total call value of 77,993,410,000 versus a total put value of 690,800,000 Combined total value = 78,684,210,000
Strike 192.5 has a total call value of 78,669,360,000 versus a total put value of 673,530,000 Combined total value = 79,342,890,000
Strike 193 has a total call value of 82,049,110,000 versus a total put value of 587,180,000 Combined total value = 82,636,290,000
Strike 194 has a total call value of 88,808,610,000 versus a total put value of 414,480,000 Combined total value = 89,223,090,000
Strike 194.4 has a total call value of 91,532,650,000 versus a total put value of 345,400,000 Combined total value = 91,878,050,000
Strike 195 has a total call value of 95,642,470,000 versus a total put value of 241,780,000 Combined total value = 95,884,250,000
Strike 196 has a total call value of 102,582,920,000 versus a total put value of 69,080,000 Combined total value = 102,652,000,000
Strike 196.4 has a total call value of 105,372,300,000 versus a total put value of 0 Combined total value = 105,372,300,000
Strike 197 has a total call value of 109,816,080,000 versus a total put value of 0 Combined total value = 109,816,080,000
Strike 197.5 has a total call value of 113,519,230,000 versus a total put value of 0 Combined total value = 113,519,230,000
Strike 198 has a total call value of 117,222,380,000 versus a total put value of 0 Combined total value = 117,222,380,000
Strike 198.4 has a total call value of 120,185,340,000 versus a total put value of 0 Combined total value = 120,185,340,000
Strike 199 has a total call value of 124,659,480,000 versus a total put value of 0 Combined total value = 124,659,480,000
Strike 200 has a total call value of 132,116,380,000 versus a total put value of 0 Combined total value = 132,116,380,000
Strike 200.4 has a total call value of 135,211,780,000 versus a total put value of 0 Combined total value = 135,211,780,000
Strike 201 has a total call value of 139,934,080,000 versus a total put value of 0 Combined total value = 139,934,080,000
Strike 202 has a total call value of 147,804,580,000 versus a total put value of 0 Combined total value = 147,804,580,000
Strike 202.4 has a total call value of 150,958,280,000 versus a total put value of 0 Combined total value = 150,958,280,000
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.