TCS
Tata Consultancy Serv Lt
Max pain for TCS
18 Sep 2024 04:10 PM IST
Max Pain for TCS is 4400
Strike 3400 has a total call value of 0 versus a total put value of 385,062,125,000 Combined total value = 385,062,125,000
Strike 3450 has a total call value of 0 versus a total put value of 362,819,625,000 Combined total value = 362,819,625,000
Strike 3500 has a total call value of 0 versus a total put value of 340,577,125,000 Combined total value = 340,577,125,000
Strike 3550 has a total call value of 0 versus a total put value of 318,334,625,000 Combined total value = 318,334,625,000
Strike 3600 has a total call value of 0 versus a total put value of 296,092,125,000 Combined total value = 296,092,125,000
Strike 3650 has a total call value of 0 versus a total put value of 273,849,625,000 Combined total value = 273,849,625,000
Strike 3700 has a total call value of 0 versus a total put value of 251,607,125,000 Combined total value = 251,607,125,000
Strike 3750 has a total call value of 6,125,000 versus a total put value of 229,504,625,000 Combined total value = 229,510,750,000
Strike 3800 has a total call value of 12,250,000 versus a total put value of 207,402,125,000 Combined total value = 207,414,375,000
Strike 3850 has a total call value of 18,375,000 versus a total put value of 185,878,875,000 Combined total value = 185,897,250,000
Strike 3900 has a total call value of 24,500,000 versus a total put value of 164,355,625,000 Combined total value = 164,380,125,000
Strike 3950 has a total call value of 46,375,000 versus a total put value of 143,626,000,000 Combined total value = 143,672,375,000
Strike 4000 has a total call value of 68,250,000 versus a total put value of 123,054,750,000 Combined total value = 123,123,000,000
Strike 4050 has a total call value of 200,375,000 versus a total put value of 104,689,375,000 Combined total value = 104,889,750,000
Strike 4100 has a total call value of 332,500,000 versus a total put value of 86,796,500,000 Combined total value = 87,129,000,000
Strike 4150 has a total call value of 567,000,000 versus a total put value of 70,987,875,000 Combined total value = 71,554,875,000
Strike 4200 has a total call value of 1,011,500,000 versus a total put value of 56,105,875,000 Combined total value = 57,117,375,000
Strike 4250 has a total call value of 1,750,875,000 versus a total put value of 42,833,000,000 Combined total value = 44,583,875,000
Strike 4300 has a total call value of 2,678,375,000 versus a total put value of 30,370,375,000 Combined total value = 33,048,750,000
Strike 4350 has a total call value of 4,734,625,000 versus a total put value of 20,465,375,000 Combined total value = 25,200,000,000
Strike 4400 has a total call value of 9,039,625,000 versus a total put value of 12,246,500,000 Combined total value = 21,286,125,000
Strike 4450 has a total call value of 19,891,375,000 versus a total put value of 7,152,250,000 Combined total value = 27,043,625,000
Strike 4500 has a total call value of 34,669,250,000 versus a total put value of 3,443,125,000 Combined total value = 38,112,375,000
Strike 4550 has a total call value of 60,642,750,000 versus a total put value of 1,934,625,000 Combined total value = 62,577,375,000
Strike 4600 has a total call value of 92,060,500,000 versus a total put value of 1,033,375,000 Combined total value = 93,093,875,000
Strike 4650 has a total call value of 132,328,875,000 versus a total put value of 609,000,000 Combined total value = 132,937,875,000
Strike 4700 has a total call value of 174,510,875,000 versus a total put value of 292,250,000 Combined total value = 174,803,125,000
Strike 4750 has a total call value of 220,948,000,000 versus a total put value of 181,125,000 Combined total value = 221,129,125,000
Strike 4800 has a total call value of 269,400,250,000 versus a total put value of 70,000,000 Combined total value = 269,470,250,000
Strike 4850 has a total call value of 320,987,625,000 versus a total put value of 52,500,000 Combined total value = 321,040,125,000
Strike 4900 has a total call value of 373,793,000,000 versus a total put value of 35,000,000 Combined total value = 373,828,000,000
Strike 4950 has a total call value of 427,745,500,000 versus a total put value of 17,500,000 Combined total value = 427,763,000,000
Strike 5000 has a total call value of 482,040,125,000 versus a total put value of 0 Combined total value = 482,040,125,000
Strike 5050 has a total call value of 551,962,250,000 versus a total put value of 0 Combined total value = 551,962,250,000
Strike 5100 has a total call value of 621,884,375,000 versus a total put value of 0 Combined total value = 621,884,375,000
Strike 5150 has a total call value of 692,405,000,000 versus a total put value of 0 Combined total value = 692,405,000,000
Strike 5200 has a total call value of 762,925,625,000 versus a total put value of 0 Combined total value = 762,925,625,000
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.