TECHM
Tech Mahindra Limited
Max pain for TECHM
06 Sep 2024 04:12 PM IST
Max Pain for TECHM is 1640
Strike 1400 has a total call value of 0 versus a total put value of 55,405,200,000 Combined total value = 55,405,200,000
Strike 1412 has a total call value of 8,640,000 versus a total put value of 51,680,640,000 Combined total value = 51,689,280,000
Strike 1420 has a total call value of 14,400,000 versus a total put value of 49,197,600,000 Combined total value = 49,212,000,000
Strike 1440 has a total call value of 28,800,000 versus a total put value of 42,990,000,000 Combined total value = 43,018,800,000
Strike 1452 has a total call value of 37,440,000 versus a total put value of 39,349,680,000 Combined total value = 39,387,120,000
Strike 1460 has a total call value of 43,200,000 versus a total put value of 36,922,800,000 Combined total value = 36,966,000,000
Strike 1480 has a total call value of 57,600,000 versus a total put value of 30,972,000,000 Combined total value = 31,029,600,000
Strike 1492 has a total call value of 66,240,000 versus a total put value of 27,526,800,000 Combined total value = 27,593,040,000
Strike 1500 has a total call value of 72,000,000 versus a total put value of 25,230,000,000 Combined total value = 25,302,000,000
Strike 1520 has a total call value of 207,600,000 versus a total put value of 20,265,600,000 Combined total value = 20,473,200,000
Strike 1532 has a total call value of 288,960,000 versus a total put value of 17,451,840,000 Combined total value = 17,740,800,000
Strike 1540 has a total call value of 343,200,000 versus a total put value of 15,576,000,000 Combined total value = 15,919,200,000
Strike 1560 has a total call value of 505,200,000 versus a total put value of 11,332,800,000 Combined total value = 11,838,000,000
Strike 1572 has a total call value of 639,840,000 versus a total put value of 9,167,760,000 Combined total value = 9,807,600,000
Strike 1580 has a total call value of 729,600,000 versus a total put value of 7,724,400,000 Combined total value = 8,454,000,000
Strike 1600 has a total call value of 997,200,000 versus a total put value of 4,662,000,000 Combined total value = 5,659,200,000
Strike 1612 has a total call value of 1,407,600,000 versus a total put value of 3,645,360,000 Combined total value = 5,052,960,000
Strike 1620 has a total call value of 1,681,200,000 versus a total put value of 2,967,600,000 Combined total value = 4,648,800,000
Strike 1640 has a total call value of 2,716,800,000 versus a total put value of 1,730,400,000 Combined total value = 4,447,200,000
Strike 1652 has a total call value of 3,724,080,000 versus a total put value of 1,228,560,000 Combined total value = 4,952,640,000
Strike 1660 has a total call value of 4,395,600,000 versus a total put value of 894,000,000 Combined total value = 5,289,600,000
Strike 1680 has a total call value of 6,858,000,000 versus a total put value of 555,600,000 Combined total value = 7,413,600,000
Strike 1692 has a total call value of 8,867,520,000 versus a total put value of 414,480,000 Combined total value = 9,282,000,000
Strike 1700 has a total call value of 10,207,200,000 versus a total put value of 320,400,000 Combined total value = 10,527,600,000
Strike 1720 has a total call value of 14,674,800,000 versus a total put value of 237,600,000 Combined total value = 14,912,400,000
Strike 1732 has a total call value of 17,670,720,000 versus a total put value of 198,000,000 Combined total value = 17,868,720,000
Strike 1740 has a total call value of 19,668,000,000 versus a total put value of 171,600,000 Combined total value = 19,839,600,000
Strike 1760 has a total call value of 25,035,600,000 versus a total put value of 105,600,000 Combined total value = 25,141,200,000
Strike 1772 has a total call value of 28,552,800,000 versus a total put value of 71,040,000 Combined total value = 28,623,840,000
Strike 1780 has a total call value of 30,897,600,000 versus a total put value of 48,000,000 Combined total value = 30,945,600,000
Strike 1800 has a total call value of 36,897,600,000 versus a total put value of 0 Combined total value = 36,897,600,000
Strike 1812 has a total call value of 40,752,480,000 versus a total put value of 0 Combined total value = 40,752,480,000
Strike 1820 has a total call value of 43,322,400,000 versus a total put value of 0 Combined total value = 43,322,400,000
Strike 1840 has a total call value of 49,747,200,000 versus a total put value of 0 Combined total value = 49,747,200,000
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.