TATASTEEL
Tata Steel Limited
Max pain for TATASTEEL
18 Sep 2024 04:12 PM IST
Max Pain for TATASTEEL is 152.5
Strike 120 has a total call value of 0 versus a total put value of 338,886,625,000 Combined total value = 338,886,625,000
Strike 122.5 has a total call value of 0 versus a total put value of 311,400,375,000 Combined total value = 311,400,375,000
Strike 125 has a total call value of 0 versus a total put value of 283,914,125,000 Combined total value = 283,914,125,000
Strike 127.5 has a total call value of 0 versus a total put value of 256,741,375,000 Combined total value = 256,741,375,000
Strike 130 has a total call value of 0 versus a total put value of 229,660,750,000 Combined total value = 229,660,750,000
Strike 132.5 has a total call value of 0 versus a total put value of 203,212,625,000 Combined total value = 203,212,625,000
Strike 135 has a total call value of 0 versus a total put value of 176,995,500,000 Combined total value = 176,995,500,000
Strike 137.5 has a total call value of 105,875,000 versus a total put value of 151,947,125,000 Combined total value = 152,053,000,000
Strike 140 has a total call value of 248,875,000 versus a total put value of 127,419,875,000 Combined total value = 127,668,750,000
Strike 142.5 has a total call value of 936,375,000 versus a total put value of 104,916,625,000 Combined total value = 105,853,000,000
Strike 145 has a total call value of 1,684,375,000 versus a total put value of 83,578,000,000 Combined total value = 85,262,375,000
Strike 147.5 has a total call value of 2,894,375,000 versus a total put value of 65,392,250,000 Combined total value = 68,286,625,000
Strike 150 has a total call value of 4,500,375,000 versus a total put value of 48,676,375,000 Combined total value = 53,176,750,000
Strike 152.5 has a total call value of 10,096,625,000 versus a total put value of 37,035,625,000 Combined total value = 47,132,250,000
Strike 155 has a total call value of 19,835,750,000 versus a total put value of 27,337,750,000 Combined total value = 47,173,500,000
Strike 157.5 has a total call value of 43,806,125,000 versus a total put value of 21,290,500,000 Combined total value = 65,096,625,000
Strike 160 has a total call value of 71,234,625,000 versus a total put value of 15,851,000,000 Combined total value = 87,085,625,000
Strike 162.5 has a total call value of 108,886,250,000 versus a total put value of 12,160,500,000 Combined total value = 121,046,750,000
Strike 165 has a total call value of 147,787,750,000 versus a total put value of 8,613,000,000 Combined total value = 156,400,750,000
Strike 167.5 has a total call value of 190,573,625,000 versus a total put value of 6,014,250,000 Combined total value = 196,587,875,000
Strike 170 has a total call value of 234,447,125,000 versus a total put value of 3,415,500,000 Combined total value = 237,862,625,000
Strike 172.5 has a total call value of 282,832,000,000 versus a total put value of 2,202,750,000 Combined total value = 285,034,750,000
Strike 175 has a total call value of 331,599,125,000 versus a total put value of 990,000,000 Combined total value = 332,589,125,000
Strike 177.5 has a total call value of 382,079,500,000 versus a total put value of 605,000,000 Combined total value = 382,684,500,000
Strike 180 has a total call value of 432,819,750,000 versus a total put value of 220,000,000 Combined total value = 433,039,750,000
Strike 182.5 has a total call value of 485,915,375,000 versus a total put value of 165,000,000 Combined total value = 486,080,375,000
Strike 185 has a total call value of 539,236,500,000 versus a total put value of 110,000,000 Combined total value = 539,346,500,000
Strike 187.5 has a total call value of 593,322,125,000 versus a total put value of 55,000,000 Combined total value = 593,377,125,000
Strike 190 has a total call value of 647,407,750,000 versus a total put value of 0 Combined total value = 647,407,750,000
Strike 192.5 has a total call value of 701,793,125,000 versus a total put value of 0 Combined total value = 701,793,125,000
Strike 195 has a total call value of 756,178,500,000 versus a total put value of 0 Combined total value = 756,178,500,000
Strike 197.5 has a total call value of 810,563,875,000 versus a total put value of 0 Combined total value = 810,563,875,000
Strike 200 has a total call value of 864,949,250,000 versus a total put value of 0 Combined total value = 864,949,250,000
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.