TCS
TATA CONSULTANCY SERV LT
Max pain for TCS
26 Jul 2024 04:10 PM IST
Max Pain for TCS is 4300
Strike 3300 has a total call value of 0 versus a total put value of 303,793,000,000 Combined total value = 303,793,000,000
Strike 3350 has a total call value of 0 versus a total put value of 285,545,750,000 Combined total value = 285,545,750,000
Strike 3400 has a total call value of 0 versus a total put value of 267,298,500,000 Combined total value = 267,298,500,000
Strike 3450 has a total call value of 0 versus a total put value of 249,096,750,000 Combined total value = 249,096,750,000
Strike 3500 has a total call value of 0 versus a total put value of 230,895,000,000 Combined total value = 230,895,000,000
Strike 3550 has a total call value of 0 versus a total put value of 213,052,875,000 Combined total value = 213,052,875,000
Strike 3600 has a total call value of 0 versus a total put value of 195,210,750,000 Combined total value = 195,210,750,000
Strike 3650 has a total call value of 0 versus a total put value of 177,532,250,000 Combined total value = 177,532,250,000
Strike 3700 has a total call value of 0 versus a total put value of 159,853,750,000 Combined total value = 159,853,750,000
Strike 3750 has a total call value of 59,500,000 versus a total put value of 142,715,125,000 Combined total value = 142,774,625,000
Strike 3800 has a total call value of 119,000,000 versus a total put value of 125,580,875,000 Combined total value = 125,699,875,000
Strike 3850 has a total call value of 245,875,000 versus a total put value of 109,497,500,000 Combined total value = 109,743,375,000
Strike 3900 has a total call value of 372,750,000 versus a total put value of 93,471,875,000 Combined total value = 93,844,625,000
Strike 3950 has a total call value of 693,000,000 versus a total put value of 79,170,875,000 Combined total value = 79,863,875,000
Strike 4000 has a total call value of 1,039,500,000 versus a total put value of 65,103,500,000 Combined total value = 66,143,000,000
Strike 4050 has a total call value of 1,962,625,000 versus a total put value of 53,427,500,000 Combined total value = 55,390,125,000
Strike 4100 has a total call value of 2,971,500,000 versus a total put value of 42,156,625,000 Combined total value = 45,128,125,000
Strike 4150 has a total call value of 4,329,500,000 versus a total put value of 32,205,250,000 Combined total value = 36,534,750,000
Strike 4200 has a total call value of 5,802,125,000 versus a total put value of 22,862,000,000 Combined total value = 28,664,125,000
Strike 4250 has a total call value of 8,090,250,000 versus a total put value of 15,773,625,000 Combined total value = 23,863,875,000
Strike 4300 has a total call value of 10,647,000,000 versus a total put value of 9,308,250,000 Combined total value = 19,955,250,000
Strike 4350 has a total call value of 14,980,875,000 versus a total put value of 5,497,625,000 Combined total value = 20,478,500,000
Strike 4400 has a total call value of 20,258,000,000 versus a total put value of 2,740,500,000 Combined total value = 22,998,500,000
Strike 4450 has a total call value of 27,721,750,000 versus a total put value of 1,693,125,000 Combined total value = 29,414,875,000
Strike 4500 has a total call value of 36,264,375,000 versus a total put value of 916,125,000 Combined total value = 37,180,500,000
Strike 4550 has a total call value of 47,293,750,000 versus a total put value of 564,375,000 Combined total value = 47,858,125,000
Strike 4600 has a total call value of 58,854,250,000 versus a total put value of 305,375,000 Combined total value = 59,159,625,000
Strike 4650 has a total call value of 72,524,375,000 versus a total put value of 130,375,000 Combined total value = 72,654,750,000
Strike 4700 has a total call value of 86,597,875,000 versus a total put value of 10,500,000 Combined total value = 86,608,375,000
Strike 4750 has a total call value of 102,296,250,000 versus a total put value of 7,000,000 Combined total value = 102,303,250,000
Strike 4800 has a total call value of 117,994,625,000 versus a total put value of 3,500,000 Combined total value = 117,998,125,000
Strike 4850 has a total call value of 135,034,375,000 versus a total put value of 1,750,000 Combined total value = 135,036,125,000
Strike 4900 has a total call value of 152,074,125,000 versus a total put value of 0 Combined total value = 152,074,125,000
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.