ULTRACEMCO
ULTRATECH CEMENT LIMITED
Max pain for ULTRACEMCO
04 Jul 2024 12:51 PM IST
Max Pain for ULTRACEMCO is 11600
Strike 9900 has a total call value of 0 versus a total put value of 117,193,000,000 Combined total value = 117,193,000,000
Strike 10000 has a total call value of 0 versus a total put value of 107,650,000,000 Combined total value = 107,650,000,000
Strike 10100 has a total call value of 66,000,000 versus a total put value of 98,723,000,000 Combined total value = 98,789,000,000
Strike 10200 has a total call value of 132,000,000 versus a total put value of 89,796,000,000 Combined total value = 89,928,000,000
Strike 10300 has a total call value of 198,000,000 versus a total put value of 80,993,000,000 Combined total value = 81,191,000,000
Strike 10400 has a total call value of 264,000,000 versus a total put value of 72,277,000,000 Combined total value = 72,541,000,000
Strike 10500 has a total call value of 330,000,000 versus a total put value of 63,625,000,000 Combined total value = 63,955,000,000
Strike 10600 has a total call value of 396,000,000 versus a total put value of 55,708,000,000 Combined total value = 56,104,000,000
Strike 10700 has a total call value of 462,000,000 versus a total put value of 48,088,000,000 Combined total value = 48,550,000,000
Strike 10800 has a total call value of 528,000,000 versus a total put value of 40,826,000,000 Combined total value = 41,354,000,000
Strike 10900 has a total call value of 618,000,000 versus a total put value of 33,915,000,000 Combined total value = 34,533,000,000
Strike 11000 has a total call value of 723,000,000 versus a total put value of 27,228,000,000 Combined total value = 27,951,000,000
Strike 11100 has a total call value of 1,157,000,000 versus a total put value of 22,009,000,000 Combined total value = 23,166,000,000
Strike 11200 has a total call value of 1,690,000,000 versus a total put value of 17,049,000,000 Combined total value = 18,739,000,000
Strike 11300 has a total call value of 2,433,000,000 versus a total put value of 12,703,000,000 Combined total value = 15,136,000,000
Strike 11400 has a total call value of 3,176,000,000 versus a total put value of 8,897,000,000 Combined total value = 12,073,000,000
Strike 11500 has a total call value of 4,015,000,000 versus a total put value of 5,361,000,000 Combined total value = 9,376,000,000
Strike 11600 has a total call value of 5,471,000,000 versus a total put value of 3,524,000,000 Combined total value = 8,995,000,000
Strike 11700 has a total call value of 7,206,000,000 versus a total put value of 2,064,000,000 Combined total value = 9,270,000,000
Strike 11800 has a total call value of 9,787,000,000 versus a total put value of 1,065,000,000 Combined total value = 10,852,000,000
Strike 11900 has a total call value of 13,027,000,000 versus a total put value of 393,000,000 Combined total value = 13,420,000,000
Strike 12000 has a total call value of 16,862,000,000 versus a total put value of 0 Combined total value = 16,862,000,000
Strike 12100 has a total call value of 24,524,000,000 versus a total put value of 0 Combined total value = 24,524,000,000
Strike 12200 has a total call value of 32,645,000,000 versus a total put value of 0 Combined total value = 32,645,000,000
Strike 12300 has a total call value of 41,459,000,000 versus a total put value of 0 Combined total value = 41,459,000,000
Strike 12400 has a total call value of 50,748,000,000 versus a total put value of 0 Combined total value = 50,748,000,000
Strike 12500 has a total call value of 60,450,000,000 versus a total put value of 0 Combined total value = 60,450,000,000
Strike 12600 has a total call value of 71,802,000,000 versus a total put value of 0 Combined total value = 71,802,000,000
Strike 12700 has a total call value of 83,787,000,000 versus a total put value of 0 Combined total value = 83,787,000,000
Strike 12800 has a total call value of 95,889,000,000 versus a total put value of 0 Combined total value = 95,889,000,000
Strike 12900 has a total call value of 108,278,000,000 versus a total put value of 0 Combined total value = 108,278,000,000
Strike 13000 has a total call value of 120,800,000,000 versus a total put value of 0 Combined total value = 120,800,000,000
Strike 13100 has a total call value of 134,265,000,000 versus a total put value of 0 Combined total value = 134,265,000,000
Strike 13200 has a total call value of 147,806,000,000 versus a total put value of 0 Combined total value = 147,806,000,000
Strike 13300 has a total call value of 161,500,000,000 versus a total put value of 0 Combined total value = 161,500,000,000
Strike 13400 has a total call value of 175,412,000,000 versus a total put value of 0 Combined total value = 175,412,000,000
Strike 13500 has a total call value of 189,926,000,000 versus a total put value of 0 Combined total value = 189,926,000,000
Strike 13600 has a total call value of 204,440,000,000 versus a total put value of 0 Combined total value = 204,440,000,000
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.