TCS
TATA CONSULTANCY SERV LT
Max pain for TCS
04 Jul 2024 12:30 PM IST
Max Pain for TCS is 3950
Strike 3100 has a total call value of 0 versus a total put value of 287,826,875,000 Combined total value = 287,826,875,000
Strike 3150 has a total call value of 0 versus a total put value of 267,341,375,000 Combined total value = 267,341,375,000
Strike 3200 has a total call value of 0 versus a total put value of 246,855,875,000 Combined total value = 246,855,875,000
Strike 3250 has a total call value of 0 versus a total put value of 226,539,250,000 Combined total value = 226,539,250,000
Strike 3300 has a total call value of 0 versus a total put value of 206,222,625,000 Combined total value = 206,222,625,000
Strike 3350 has a total call value of 0 versus a total put value of 186,021,500,000 Combined total value = 186,021,500,000
Strike 3400 has a total call value of 0 versus a total put value of 165,820,375,000 Combined total value = 165,820,375,000
Strike 3450 has a total call value of 0 versus a total put value of 146,115,375,000 Combined total value = 146,115,375,000
Strike 3500 has a total call value of 0 versus a total put value of 126,724,500,000 Combined total value = 126,724,500,000
Strike 3550 has a total call value of 14,875,000 versus a total put value of 108,640,875,000 Combined total value = 108,655,750,000
Strike 3600 has a total call value of 29,750,000 versus a total put value of 90,942,250,000 Combined total value = 90,972,000,000
Strike 3650 has a total call value of 159,250,000 versus a total put value of 74,696,125,000 Combined total value = 74,855,375,000
Strike 3700 has a total call value of 288,750,000 versus a total put value of 58,970,625,000 Combined total value = 59,259,375,000
Strike 3750 has a total call value of 718,375,000 versus a total put value of 45,707,375,000 Combined total value = 46,425,750,000
Strike 3800 has a total call value of 1,280,125,000 versus a total put value of 33,406,625,000 Combined total value = 34,686,750,000
Strike 3850 has a total call value of 2,639,000,000 versus a total put value of 23,798,250,000 Combined total value = 26,437,250,000
Strike 3900 has a total call value of 4,541,250,000 versus a total put value of 15,720,250,000 Combined total value = 20,261,500,000
Strike 3950 has a total call value of 8,440,250,000 versus a total put value of 10,197,250,000 Combined total value = 18,637,500,000
Strike 4000 has a total call value of 13,486,375,000 versus a total put value of 5,769,750,000 Combined total value = 19,256,125,000
Strike 4050 has a total call value of 23,996,000,000 versus a total put value of 3,773,875,000 Combined total value = 27,769,875,000
Strike 4100 has a total call value of 36,533,000,000 versus a total put value of 2,364,250,000 Combined total value = 38,897,250,000
Strike 4150 has a total call value of 52,455,375,000 versus a total put value of 1,594,250,000 Combined total value = 54,049,625,000
Strike 4200 has a total call value of 69,475,875,000 versus a total put value of 908,250,000 Combined total value = 70,384,125,000
Strike 4250 has a total call value of 89,530,000,000 versus a total put value of 537,250,000 Combined total value = 90,067,250,000
Strike 4300 has a total call value of 110,211,500,000 versus a total put value of 212,625,000 Combined total value = 110,424,125,000
Strike 4350 has a total call value of 133,103,250,000 versus a total put value of 117,250,000 Combined total value = 133,220,500,000
Strike 4400 has a total call value of 156,434,250,000 versus a total put value of 56,000,000 Combined total value = 156,490,250,000
Strike 4450 has a total call value of 181,490,750,000 versus a total put value of 28,000,000 Combined total value = 181,518,750,000
Strike 4500 has a total call value of 206,547,250,000 versus a total put value of 0 Combined total value = 206,547,250,000
Strike 4550 has a total call value of 233,395,750,000 versus a total put value of 0 Combined total value = 233,395,750,000
Strike 4600 has a total call value of 260,244,250,000 versus a total put value of 0 Combined total value = 260,244,250,000
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.