TATASTEEL
TATA STEEL LIMITED
Max pain for TATASTEEL
04 Jul 2024 11:53 AM IST
Max Pain for TATASTEEL is 176
Strike 136.4 has a total call value of 0 versus a total put value of 183,195,925,000 Combined total value = 183,195,925,000
Strike 137 has a total call value of 0 versus a total put value of 179,871,835,000 Combined total value = 179,871,835,000
Strike 137.4 has a total call value of 0 versus a total put value of 177,655,775,000 Combined total value = 177,655,775,000
Strike 137.5 has a total call value of 0 versus a total put value of 177,101,760,000 Combined total value = 177,101,760,000
Strike 138 has a total call value of 0 versus a total put value of 174,331,685,000 Combined total value = 174,331,685,000
Strike 138.4 has a total call value of 0 versus a total put value of 172,115,625,000 Combined total value = 172,115,625,000
Strike 139 has a total call value of 0 versus a total put value of 168,791,535,000 Combined total value = 168,791,535,000
Strike 139.4 has a total call value of 0 versus a total put value of 166,575,475,000 Combined total value = 166,575,475,000
Strike 140 has a total call value of 0 versus a total put value of 163,251,385,000 Combined total value = 163,251,385,000
Strike 140.4 has a total call value of 0 versus a total put value of 161,035,325,000 Combined total value = 161,035,325,000
Strike 141 has a total call value of 0 versus a total put value of 157,711,235,000 Combined total value = 157,711,235,000
Strike 141.4 has a total call value of 0 versus a total put value of 155,495,175,000 Combined total value = 155,495,175,000
Strike 142 has a total call value of 0 versus a total put value of 152,171,085,000 Combined total value = 152,171,085,000
Strike 142.4 has a total call value of 0 versus a total put value of 149,955,025,000 Combined total value = 149,955,025,000
Strike 142.5 has a total call value of 0 versus a total put value of 149,401,835,000 Combined total value = 149,401,835,000
Strike 143 has a total call value of 0 versus a total put value of 146,635,885,000 Combined total value = 146,635,885,000
Strike 143.4 has a total call value of 0 versus a total put value of 144,423,125,000 Combined total value = 144,423,125,000
Strike 144 has a total call value of 0 versus a total put value of 141,103,985,000 Combined total value = 141,103,985,000
Strike 144.4 has a total call value of 0 versus a total put value of 138,891,225,000 Combined total value = 138,891,225,000
Strike 145 has a total call value of 0 versus a total put value of 135,572,085,000 Combined total value = 135,572,085,000
Strike 145.4 has a total call value of 0 versus a total put value of 133,359,325,000 Combined total value = 133,359,325,000
Strike 146 has a total call value of 0 versus a total put value of 130,040,185,000 Combined total value = 130,040,185,000
Strike 146.4 has a total call value of 0 versus a total put value of 127,827,425,000 Combined total value = 127,827,425,000
Strike 147 has a total call value of 0 versus a total put value of 124,563,065,000 Combined total value = 124,563,065,000
Strike 147.4 has a total call value of 0 versus a total put value of 122,386,825,000 Combined total value = 122,386,825,000
Strike 147.5 has a total call value of 0 versus a total put value of 121,842,765,000 Combined total value = 121,842,765,000
Strike 148 has a total call value of 0 versus a total put value of 119,122,465,000 Combined total value = 119,122,465,000
Strike 148.4 has a total call value of 0 versus a total put value of 116,946,225,000 Combined total value = 116,946,225,000
Strike 149 has a total call value of 0 versus a total put value of 113,681,865,000 Combined total value = 113,681,865,000
Strike 149.4 has a total call value of 0 versus a total put value of 111,505,625,000 Combined total value = 111,505,625,000
Strike 150 has a total call value of 0 versus a total put value of 108,241,265,000 Combined total value = 108,241,265,000
Strike 150.4 has a total call value of 0 versus a total put value of 106,098,025,000 Combined total value = 106,098,025,000
Strike 151 has a total call value of 0 versus a total put value of 102,883,165,000 Combined total value = 102,883,165,000
Strike 151.4 has a total call value of 0 versus a total put value of 100,739,925,000 Combined total value = 100,739,925,000
Strike 152 has a total call value of 0 versus a total put value of 97,528,035,000 Combined total value = 97,528,035,000
Strike 152.4 has a total call value of 0 versus a total put value of 95,386,775,000 Combined total value = 95,386,775,000
Strike 152.5 has a total call value of 0 versus a total put value of 94,855,585,000 Combined total value = 94,855,585,000
Strike 153 has a total call value of 0 versus a total put value of 92,199,635,000 Combined total value = 92,199,635,000
Strike 153.4 has a total call value of 0 versus a total put value of 90,074,875,000 Combined total value = 90,074,875,000
Strike 154 has a total call value of 0 versus a total put value of 86,887,735,000 Combined total value = 86,887,735,000
Strike 154.4 has a total call value of 0 versus a total put value of 84,777,055,000 Combined total value = 84,777,055,000
Strike 155 has a total call value of 0 versus a total put value of 81,611,035,000 Combined total value = 81,611,035,000
Strike 155.4 has a total call value of 0 versus a total put value of 79,550,075,000 Combined total value = 79,550,075,000
Strike 156 has a total call value of 0 versus a total put value of 76,458,635,000 Combined total value = 76,458,635,000
Strike 156.4 has a total call value of 0 versus a total put value of 74,425,395,000 Combined total value = 74,425,395,000
Strike 157 has a total call value of 0 versus a total put value of 71,472,885,000 Combined total value = 71,472,885,000
Strike 157.4 has a total call value of 0 versus a total put value of 69,504,545,000 Combined total value = 69,504,545,000
Strike 157.5 has a total call value of 0 versus a total put value of 69,012,460,000 Combined total value = 69,012,460,000
Strike 158 has a total call value of 0 versus a total put value of 66,552,035,000 Combined total value = 66,552,035,000
Strike 158.4 has a total call value of 0 versus a total put value of 64,606,355,000 Combined total value = 64,606,355,000
Strike 159 has a total call value of 0 versus a total put value of 61,687,835,000 Combined total value = 61,687,835,000
Strike 159.4 has a total call value of 0 versus a total put value of 59,742,155,000 Combined total value = 59,742,155,000
Strike 160 has a total call value of 0 versus a total put value of 56,823,635,000 Combined total value = 56,823,635,000
Strike 160.4 has a total call value of 5,280,000 versus a total put value of 55,115,115,000 Combined total value = 55,120,395,000
Strike 161 has a total call value of 13,200,000 versus a total put value of 52,594,245,000 Combined total value = 52,607,445,000
Strike 161.4 has a total call value of 18,480,000 versus a total put value of 50,913,665,000 Combined total value = 50,932,145,000
Strike 162 has a total call value of 26,400,000 versus a total put value of 48,439,985,000 Combined total value = 48,466,385,000
Strike 162.4 has a total call value of 31,680,000 versus a total put value of 46,829,585,000 Combined total value = 46,861,265,000
Strike 162.5 has a total call value of 33,000,000 versus a total put value of 46,426,985,000 Combined total value = 46,459,985,000
Strike 163 has a total call value of 39,600,000 versus a total put value of 44,413,985,000 Combined total value = 44,453,585,000
Strike 163.4 has a total call value of 44,880,000 versus a total put value of 42,815,905,000 Combined total value = 42,860,785,000
Strike 164 has a total call value of 52,800,000 versus a total put value of 40,418,785,000 Combined total value = 40,471,585,000
Strike 164.4 has a total call value of 58,080,000 versus a total put value of 38,844,245,000 Combined total value = 38,902,325,000
Strike 165 has a total call value of 66,000,000 versus a total put value of 36,503,555,000 Combined total value = 36,569,555,000
Strike 165.4 has a total call value of 81,840,000 versus a total put value of 35,067,615,000 Combined total value = 35,149,455,000
Strike 166 has a total call value of 105,600,000 versus a total put value of 32,988,285,000 Combined total value = 33,093,885,000
Strike 166.4 has a total call value of 121,440,000 versus a total put value of 31,612,185,000 Combined total value = 31,733,625,000
Strike 167 has a total call value of 230,010,000 versus a total put value of 29,738,115,000 Combined total value = 29,968,125,000
Strike 167.4 has a total call value of 302,390,000 versus a total put value of 28,499,735,000 Combined total value = 28,802,125,000
Strike 167.5 has a total call value of 320,485,000 versus a total put value of 28,194,375,000 Combined total value = 28,514,860,000
Strike 168 has a total call value of 410,960,000 versus a total put value of 26,676,375,000 Combined total value = 27,087,335,000
Strike 168.4 has a total call value of 484,440,000 versus a total put value of 25,482,875,000 Combined total value = 25,967,315,000
Strike 169 has a total call value of 594,660,000 versus a total put value of 23,709,455,000 Combined total value = 24,304,115,000
Strike 169.4 has a total call value of 668,140,000 versus a total put value of 22,537,735,000 Combined total value = 23,205,875,000
Strike 170 has a total call value of 778,360,000 versus a total put value of 20,800,615,000 Combined total value = 21,578,975,000
Strike 170.4 has a total call value of 929,280,000 versus a total put value of 19,826,895,000 Combined total value = 20,756,175,000
Strike 171 has a total call value of 1,159,290,000 versus a total put value of 18,399,645,000 Combined total value = 19,558,935,000
Strike 171.4 has a total call value of 1,312,630,000 versus a total put value of 17,459,145,000 Combined total value = 18,771,775,000
Strike 172 has a total call value of 1,566,730,000 versus a total put value of 16,092,285,000 Combined total value = 17,659,015,000
Strike 172.4 has a total call value of 1,748,670,000 versus a total put value of 15,202,165,000 Combined total value = 16,950,835,000
Strike 172.5 has a total call value of 1,797,895,000 versus a total put value of 14,981,560,000 Combined total value = 16,779,455,000
Strike 173 has a total call value of 2,046,220,000 versus a total put value of 13,884,310,000 Combined total value = 15,930,530,000
Strike 173.4 has a total call value of 2,280,960,000 versus a total put value of 13,035,110,000 Combined total value = 15,316,070,000
Strike 174 has a total call value of 2,650,560,000 versus a total put value of 11,780,450,000 Combined total value = 14,431,010,000
Strike 174.4 has a total call value of 2,931,500,000 versus a total put value of 10,978,110,000 Combined total value = 13,909,610,000
Strike 175 has a total call value of 3,382,610,000 versus a total put value of 9,815,520,000 Combined total value = 13,198,130,000
Strike 175.4 has a total call value of 3,914,130,000 versus a total put value of 9,219,980,000 Combined total value = 13,134,110,000
Strike 176 has a total call value of 4,754,970,000 versus a total put value of 8,371,550,000 Combined total value = 13,126,520,000
Strike 176.4 has a total call value of 5,376,470,000 versus a total put value of 7,854,990,000 Combined total value = 13,231,460,000
Strike 177 has a total call value of 6,469,100,000 versus a total put value of 7,198,290,000 Combined total value = 13,667,390,000
Strike 177.4 has a total call value of 7,273,200,000 versus a total put value of 6,786,010,000 Combined total value = 14,059,210,000
Strike 177.5 has a total call value of 7,482,860,000 versus a total put value of 6,690,145,000 Combined total value = 14,173,005,000
Strike 178 has a total call value of 8,558,385,000 versus a total put value of 6,225,670,000 Combined total value = 14,784,055,000
Strike 178.4 has a total call value of 9,494,045,000 versus a total put value of 5,878,290,000 Combined total value = 15,372,335,000
Strike 179 has a total call value of 10,928,555,000 versus a total put value of 5,375,700,000 Combined total value = 16,304,255,000
Strike 179.4 has a total call value of 11,906,455,000 versus a total put value of 5,051,640,000 Combined total value = 16,958,095,000
Strike 180 has a total call value of 13,397,395,000 versus a total put value of 4,575,120,000 Combined total value = 17,972,515,000
Strike 180.4 has a total call value of 15,158,055,000 versus a total put value of 4,346,320,000 Combined total value = 19,504,375,000
Strike 181 has a total call value of 17,917,515,000 versus a total put value of 4,036,780,000 Combined total value = 21,954,295,000
Strike 181.4 has a total call value of 19,832,835,000 versus a total put value of 3,833,720,000 Combined total value = 23,666,555,000
Strike 182 has a total call value of 22,812,405,000 versus a total put value of 3,586,880,000 Combined total value = 26,399,285,000
Strike 182.4 has a total call value of 24,963,565,000 versus a total put value of 3,424,520,000 Combined total value = 28,388,085,000
Strike 182.5 has a total call value of 25,507,350,000 versus a total put value of 3,383,930,000 Combined total value = 28,891,280,000
Strike 183 has a total call value of 28,231,225,000 versus a total put value of 3,180,980,000 Combined total value = 31,412,205,000
Strike 183.4 has a total call value of 30,430,345,000 versus a total put value of 3,019,940,000 Combined total value = 33,450,285,000
Strike 184 has a total call value of 33,740,905,000 versus a total put value of 2,778,380,000 Combined total value = 36,519,285,000
Strike 184.4 has a total call value of 35,955,865,000 versus a total put value of 2,617,340,000 Combined total value = 38,573,205,000
Strike 185 has a total call value of 39,295,795,000 versus a total put value of 2,375,780,000 Combined total value = 41,671,575,000
Strike 185.4 has a total call value of 41,776,515,000 versus a total put value of 2,251,260,000 Combined total value = 44,027,775,000
Strike 186 has a total call value of 45,550,065,000 versus a total put value of 2,064,480,000 Combined total value = 47,614,545,000
Strike 186.4 has a total call value of 48,076,765,000 versus a total put value of 1,939,960,000 Combined total value = 50,016,725,000
Strike 187 has a total call value of 52,093,855,000 versus a total put value of 1,812,910,000 Combined total value = 53,906,765,000
Strike 187.4 has a total call value of 54,771,915,000 versus a total put value of 1,728,210,000 Combined total value = 56,500,125,000
Strike 187.5 has a total call value of 55,443,520,000 versus a total put value of 1,707,035,000 Combined total value = 57,150,555,000
Strike 188 has a total call value of 58,802,095,000 versus a total put value of 1,601,160,000 Combined total value = 60,403,255,000
Strike 188.4 has a total call value of 61,514,255,000 versus a total put value of 1,516,460,000 Combined total value = 63,030,715,000
Strike 189 has a total call value of 65,593,715,000 versus a total put value of 1,389,410,000 Combined total value = 66,983,125,000
Strike 189.4 has a total call value of 68,313,355,000 versus a total put value of 1,304,710,000 Combined total value = 69,618,065,000
Strike 190 has a total call value of 72,392,815,000 versus a total put value of 1,177,660,000 Combined total value = 73,570,475,000
Strike 190.4 has a total call value of 75,411,875,000 versus a total put value of 1,106,160,000 Combined total value = 76,518,035,000
Strike 191 has a total call value of 80,021,975,000 versus a total put value of 998,910,000 Combined total value = 81,020,885,000
Strike 191.4 has a total call value of 83,127,495,000 versus a total put value of 927,410,000 Combined total value = 84,054,905,000
Strike 192 has a total call value of 87,843,855,000 versus a total put value of 820,160,000 Combined total value = 88,664,015,000
Strike 192.4 has a total call value of 90,988,095,000 versus a total put value of 748,660,000 Combined total value = 91,736,755,000
Strike 192.5 has a total call value of 91,787,300,000 versus a total put value of 730,785,000 Combined total value = 92,518,085,000
Strike 193 has a total call value of 95,783,325,000 versus a total put value of 641,410,000 Combined total value = 96,424,735,000
Strike 194 has a total call value of 103,775,375,000 versus a total put value of 462,660,000 Combined total value = 104,238,035,000
Strike 194.4 has a total call value of 106,991,775,000 versus a total put value of 391,160,000 Combined total value = 107,382,935,000
Strike 195 has a total call value of 111,816,375,000 versus a total put value of 283,910,000 Combined total value = 112,100,285,000
Strike 196 has a total call value of 119,999,275,000 versus a total put value of 105,160,000 Combined total value = 120,104,435,000
Strike 196.4 has a total call value of 123,285,635,000 versus a total put value of 33,660,000 Combined total value = 123,319,295,000
Strike 197 has a total call value of 128,481,155,000 versus a total put value of 28,050,000 Combined total value = 128,509,205,000
Strike 197.5 has a total call value of 132,810,755,000 versus a total put value of 23,375,000 Combined total value = 132,834,130,000
Strike 198 has a total call value of 137,140,355,000 versus a total put value of 18,700,000 Combined total value = 137,159,055,000
Strike 198.4 has a total call value of 140,604,035,000 versus a total put value of 14,960,000 Combined total value = 140,618,995,000
Strike 199 has a total call value of 145,828,265,000 versus a total put value of 9,350,000 Combined total value = 145,837,615,000
Strike 200 has a total call value of 154,535,315,000 versus a total put value of 0 Combined total value = 154,535,315,000
Strike 200.4 has a total call value of 158,167,295,000 versus a total put value of 0 Combined total value = 158,167,295,000
Strike 201 has a total call value of 163,691,165,000 versus a total put value of 0 Combined total value = 163,691,165,000
Strike 202 has a total call value of 172,897,615,000 versus a total put value of 0 Combined total value = 172,897,615,000
Strike 202.4 has a total call value of 176,586,795,000 versus a total put value of 0 Combined total value = 176,586,795,000
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.