TCS
Tata Consultancy Serv Lt
Max pain for TCS
09 Sep 2024 04:10 PM IST
Max Pain for TCS is 4450
Strike 3400 has a total call value of 0 versus a total put value of 298,645,375,000 Combined total value = 298,645,375,000
Strike 3450 has a total call value of 0 versus a total put value of 281,997,625,000 Combined total value = 281,997,625,000
Strike 3500 has a total call value of 0 versus a total put value of 265,349,875,000 Combined total value = 265,349,875,000
Strike 3550 has a total call value of 0 versus a total put value of 248,702,125,000 Combined total value = 248,702,125,000
Strike 3600 has a total call value of 0 versus a total put value of 232,054,375,000 Combined total value = 232,054,375,000
Strike 3650 has a total call value of 0 versus a total put value of 215,406,625,000 Combined total value = 215,406,625,000
Strike 3700 has a total call value of 0 versus a total put value of 198,758,875,000 Combined total value = 198,758,875,000
Strike 3750 has a total call value of 0 versus a total put value of 182,111,125,000 Combined total value = 182,111,125,000
Strike 3800 has a total call value of 0 versus a total put value of 165,463,375,000 Combined total value = 165,463,375,000
Strike 3850 has a total call value of 0 versus a total put value of 149,091,250,000 Combined total value = 149,091,250,000
Strike 3900 has a total call value of 0 versus a total put value of 132,719,125,000 Combined total value = 132,719,125,000
Strike 3950 has a total call value of 0 versus a total put value of 116,888,625,000 Combined total value = 116,888,625,000
Strike 4000 has a total call value of 0 versus a total put value of 101,141,250,000 Combined total value = 101,141,250,000
Strike 4050 has a total call value of 130,375,000 versus a total put value of 87,138,625,000 Combined total value = 87,269,000,000
Strike 4100 has a total call value of 260,750,000 versus a total put value of 73,384,500,000 Combined total value = 73,645,250,000
Strike 4150 has a total call value of 487,375,000 versus a total put value of 60,398,625,000 Combined total value = 60,886,000,000
Strike 4200 has a total call value of 727,125,000 versus a total put value of 47,716,375,000 Combined total value = 48,443,500,000
Strike 4250 has a total call value of 1,256,500,000 versus a total put value of 36,558,375,000 Combined total value = 37,814,875,000
Strike 4300 has a total call value of 1,913,625,000 versus a total put value of 26,104,750,000 Combined total value = 28,018,375,000
Strike 4350 has a total call value of 2,982,875,000 versus a total put value of 18,256,000,000 Combined total value = 21,238,875,000
Strike 4400 has a total call value of 4,179,000,000 versus a total put value of 11,209,625,000 Combined total value = 15,388,625,000
Strike 4450 has a total call value of 6,753,250,000 versus a total put value of 6,860,875,000 Combined total value = 13,614,125,000
Strike 4500 has a total call value of 10,434,375,000 versus a total put value of 3,675,000,000 Combined total value = 14,109,375,000
Strike 4550 has a total call value of 17,640,875,000 versus a total put value of 2,139,375,000 Combined total value = 19,780,250,000
Strike 4600 has a total call value of 27,409,375,000 versus a total put value of 1,130,500,000 Combined total value = 28,539,875,000
Strike 4650 has a total call value of 41,552,000,000 versus a total put value of 704,375,000 Combined total value = 42,256,375,000
Strike 4700 has a total call value of 57,239,875,000 versus a total put value of 350,875,000 Combined total value = 57,590,750,000
Strike 4750 has a total call value of 75,825,750,000 versus a total put value of 203,000,000 Combined total value = 76,028,750,000
Strike 4800 has a total call value of 95,329,500,000 versus a total put value of 55,125,000 Combined total value = 95,384,625,000
Strike 4850 has a total call value of 117,488,000,000 versus a total put value of 0 Combined total value = 117,488,000,000
Strike 4900 has a total call value of 140,215,250,000 versus a total put value of 0 Combined total value = 140,215,250,000
Strike 4950 has a total call value of 164,933,125,000 versus a total put value of 0 Combined total value = 164,933,125,000
Strike 5000 has a total call value of 190,015,875,000 versus a total put value of 0 Combined total value = 190,015,875,000
Strike 5050 has a total call value of 229,659,500,000 versus a total put value of 0 Combined total value = 229,659,500,000
Strike 5100 has a total call value of 269,303,125,000 versus a total put value of 0 Combined total value = 269,303,125,000
Strike 5150 has a total call value of 309,848,875,000 versus a total put value of 0 Combined total value = 309,848,875,000
Strike 5200 has a total call value of 350,394,625,000 versus a total put value of 0 Combined total value = 350,394,625,000
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.