ULTRACEMCO
Ultratech Cement Limited
Max pain for ULTRACEMCO
21 May 2025 04:10 PM IST
Max Pain for ULTRACEMCO is 11800
Strike 9600 has a total call value of 0 versus a total put value of 95,174,500,000 Combined total value = 95,174,500,000
Strike 9700 has a total call value of 0 versus a total put value of 89,019,000,000 Combined total value = 89,019,000,000
Strike 9800 has a total call value of 0 versus a total put value of 82,863,500,000 Combined total value = 82,863,500,000
Strike 9900 has a total call value of 0 versus a total put value of 76,713,500,000 Combined total value = 76,713,500,000
Strike 10000 has a total call value of 0 versus a total put value of 70,563,500,000 Combined total value = 70,563,500,000
Strike 10100 has a total call value of 0 versus a total put value of 65,306,500,000 Combined total value = 65,306,500,000
Strike 10200 has a total call value of 0 versus a total put value of 60,049,500,000 Combined total value = 60,049,500,000
Strike 10300 has a total call value of 0 versus a total put value of 54,792,500,000 Combined total value = 54,792,500,000
Strike 10400 has a total call value of 0 versus a total put value of 50,097,000,000 Combined total value = 50,097,000,000
Strike 10500 has a total call value of 0 versus a total put value of 45,430,500,000 Combined total value = 45,430,500,000
Strike 10600 has a total call value of 0 versus a total put value of 41,189,500,000 Combined total value = 41,189,500,000
Strike 10700 has a total call value of 0 versus a total put value of 37,038,500,000 Combined total value = 37,038,500,000
Strike 10800 has a total call value of 0 versus a total put value of 33,040,000,000 Combined total value = 33,040,000,000
Strike 10900 has a total call value of 0 versus a total put value of 29,157,000,000 Combined total value = 29,157,000,000
Strike 11000 has a total call value of 4,500,000 versus a total put value of 25,353,000,000 Combined total value = 25,357,500,000
Strike 11100 has a total call value of 94,500,000 versus a total put value of 21,944,000,000 Combined total value = 22,038,500,000
Strike 11200 has a total call value of 273,000,000 versus a total put value of 18,642,500,000 Combined total value = 18,915,500,000
Strike 11300 has a total call value of 496,000,000 versus a total put value of 15,550,000,000 Combined total value = 16,046,000,000
Strike 11400 has a total call value of 790,000,000 versus a total put value of 12,719,000,000 Combined total value = 13,509,000,000
Strike 11500 has a total call value of 1,262,000,000 versus a total put value of 10,030,500,000 Combined total value = 11,292,500,000
Strike 11600 has a total call value of 2,006,000,000 versus a total put value of 7,766,500,000 Combined total value = 9,772,500,000
Strike 11700 has a total call value of 3,013,500,000 versus a total put value of 5,841,000,000 Combined total value = 8,854,500,000
Strike 11800 has a total call value of 4,328,000,000 versus a total put value of 4,279,500,000 Combined total value = 8,607,500,000
Strike 11900 has a total call value of 6,158,000,000 versus a total put value of 2,949,500,000 Combined total value = 9,107,500,000
Strike 12000 has a total call value of 8,889,000,000 versus a total put value of 1,886,500,000 Combined total value = 10,775,500,000
Strike 12100 has a total call value of 13,323,500,000 versus a total put value of 1,124,000,000 Combined total value = 14,447,500,000
Strike 12200 has a total call value of 18,667,000,000 versus a total put value of 500,000,000 Combined total value = 19,167,000,000
Strike 12300 has a total call value of 25,387,000,000 versus a total put value of 255,000,000 Combined total value = 25,642,000,000
Strike 12400 has a total call value of 33,079,500,000 versus a total put value of 98,000,000 Combined total value = 33,177,500,000
Strike 12500 has a total call value of 41,647,500,000 versus a total put value of 0 Combined total value = 41,647,500,000
Strike 12600 has a total call value of 52,259,500,000 versus a total put value of 0 Combined total value = 52,259,500,000
Strike 12700 has a total call value of 63,723,500,000 versus a total put value of 0 Combined total value = 63,723,500,000
Strike 12800 has a total call value of 75,735,000,000 versus a total put value of 0 Combined total value = 75,735,000,000
Strike 12900 has a total call value of 88,235,000,000 versus a total put value of 0 Combined total value = 88,235,000,000
Strike 13000 has a total call value of 101,279,500,000 versus a total put value of 0 Combined total value = 101,279,500,000
Strike 13100 has a total call value of 116,957,000,000 versus a total put value of 0 Combined total value = 116,957,000,000
Strike 13200 has a total call value of 132,811,000,000 versus a total put value of 0 Combined total value = 132,811,000,000
Strike 13300 has a total call value of 148,883,500,000 versus a total put value of 0 Combined total value = 148,883,500,000
Strike 13400 has a total call value of 165,100,500,000 versus a total put value of 0 Combined total value = 165,100,500,000
Strike 13500 has a total call value of 181,696,000,000 versus a total put value of 0 Combined total value = 181,696,000,000
Strike 13600 has a total call value of 198,291,500,000 versus a total put value of 0 Combined total value = 198,291,500,000
Strike 13700 has a total call value of 215,469,500,000 versus a total put value of 0 Combined total value = 215,469,500,000
Strike 13800 has a total call value of 232,647,500,000 versus a total put value of 0 Combined total value = 232,647,500,000
Max-Pain Table for stock monthly expiry
| Max Pain | ||
|---|---|---|
| Symbol | Symbol Ltp | Max Pain |
| AARTIIND | 468.8 | 460 |
| ABB | 5886.5 | 5700 |
| ABCAPITAL | 221.46 | 210 |
| ABFRL | 268.95 | 275 |
| ACC | 1941.4 | 1920 |
| ADANIENSOL | 872.15 | 900 |
| ADANIENT | 2500.4 | 2500 |
| ADANIGREEN | 996.5 | 960 |
| ADANIPORTS | 1384.6 | 1340 |
| ALKEM | 5374 | 5300 |
| AMBUJACEM | 567.8 | 570 |
| ANGELONE | 2866.2 | 2650 |
| APLAPOLLO | 1814.4 | 1700 |
| APOLLOHOSP | 6984 | 6950 |
| APOLLOTYRE | 488.1 | 485 |
| ASHOKLEY | 244.61 | 232.5 |
| ASIANPAINT | 2312.4 | 2340 |
| ASTRAL | 1377.7 | 1380 |
| ATGL | 663.35 | 650 |
| AUBANK | 692.9 | 670 |
| AUROPHARMA | 1204.1 | 1220 |
| AXISBANK | 1197.8 | 1180 |
| BAJAJ-AUTO | 8687.5 | 8500 |
| BAJAJFINSV | 2037.3 | 2020 |
| BAJFINANCE | 9197.5 | 9100 |
| BALKRISIND | 2665.6 | 2700 |
| BANDHANBNK | 168.22 | 167.5 |
| BANKBARODA | 241.3 | 235 |
| BANKINDIA | 117.96 | 115 |
| BEL | 383 | 365 |
| BHARATFORG | 1229 | 1200 |
| BHARTIARTL | 1822.5 | 1820 |
| BHEL | 247.42 | 245 |
| BIOCON | 340.65 | 335 |
| BOSCHLTD | 31655 | 31000 |
| BPCL | 315.85 | 310 |
| BRITANNIA | 5493.5 | 5500 |
| BSE | 7305 | 7000 |
| BSOFT | 424 | 420 |
| CAMS | 3887.5 | 3850 |
| CANBK | 107.84 | 104 |
| CDSL | 1450.3 | 1400 |
| CESC | 171.92 | 165 |
| CGPOWER | 694 | 660 |
| CHAMBLFERT | 603.85 | 630 |
| CHOLAFIN | 1656 | 1600 |
| CIPLA | 1482.4 | 1500 |
| COALINDIA | 405.35 | 400 |
| COFORGE | 8266 | 7800 |
| COLPAL | 2659.3 | 2660 |
| CONCOR | 731.55 | 720 |
| CROMPTON | 349.05 | 345 |
| CUMMINSIND | 2980.9 | 2900 |
| CYIENT | 1304.6 | 1260 |
| DABUR | 481.75 | 480 |
| DALBHARAT | 2089.3 | 2000 |
| DEEPAKNTR | 2090.2 | 2060 |
| DELHIVERY | 348.1 | 340 |
| DIVISLAB | 6552 | 6400 |
| DIXON | 15612 | 16000 |
| DLF | 775.15 | 750 |
| DMART | 4112.7 | 4100 |
| DRREDDY | 1224.7 | 1200 |
| EICHERMOT | 5409 | 5500 |
| ESCORTS | 3514.4 | 3400 |
| ETERNAL | 229.97 | 230 |
| EXIDEIND | 384.8 | 380 |
| FEDERALBNK | 200.82 | 195 |
| GAIL | 190.64 | 190 |
| GLENMARK | 1440.1 | 1420 |
| GMRAIRPORT | 87.63 | 88 |
| GODREJCP | 1280 | 1270 |
| GODREJPROP | 2181 | 2200 |
| GRANULES | 517.9 | 500 |
| GRASIM | 2706.9 | 2720 |
| HAL | 5001.1 | 4850 |
| HAVELLS | 1577.2 | 1600 |
| HCLTECH | 1652 | 1600 |
| HDFCAMC | 4815.5 | 4650 |
| HDFCBANK | 1926.8 | 1920 |
| HDFCLIFE | 759.7 | 730 |
| HEROMOTOCO | 4263.8 | 4100 |
| HFCL | 85.13 | 85 |
| HINDALCO | 663 | 650 |
| HINDCOPPER | 229.47 | 230 |
| HINDPETRO | 404.9 | 400 |
| HINDUNILVR | 2363.9 | 2360 |
| HINDZINC | 442.05 | 440 |
| HUDCO | 229.34 | 225 |
| ICICIBANK | 1444.7 | 1440 |
| ICICIGI | 1878.1 | 1880 |
| ICICIPRULI | 618.15 | 610 |
| IDEA | 6.76 | 7 |
| IDFCFIRSTB | 66.67 | 67 |
| IEX | 199.18 | 197.5 |
| IGL | 207.56 | 200 |
| IIFL | 413.15 | 400 |
| INDHOTEL | 773.1 | 770 |
| INDIANB | 601.7 | 590 |
| INDIGO | 5461.5 | 5400 |
| INDUSINDBK | 769.95 | 800 |
| INDUSTOWER | 387.95 | 390 |
| INFY | 1568.5 | 1540 |
| INOXWIND | 185.76 | 180 |
| IOC | 143.39 | 144 |
| IRB | 51.35 | 50 |
| IRCTC | 790.2 | 790 |
| IREDA | 172.21 | 170 |
| IRFC | 138.08 | 135 |
| ITC | 433 | 430 |
| JINDALSTEL | 968.5 | 940 |
| JIOFIN | 274.35 | 265 |
| JSL | 643.4 | 640 |
| JSWENERGY | 504.8 | 490 |
| JSWSTEEL | 1000.9 | 1000 |
| JUBLFOOD | 674.4 | 680 |
| KALYANKJIL | 552.05 | 540 |
| KEI | 3431.4 | 3300 |
| KOTAKBANK | 2071.3 | 2100 |
| KPITTECH | 1331.6 | 1300 |
| LAURUSLABS | 597.05 | 600 |
| LICHSGFIN | 595.75 | 600 |
| LICI | 853.8 | 840 |
| LODHA | 1409 | 1360 |
| LT | 3589 | 3500 |
| LTF | 173.58 | 170 |
| LTIM | 5033.8 | 4900 |
| LUPIN | 1996 | 2020 |
| M&M | 3090.7 | 3050 |
| M&MFIN | 260.25 | 257.85 |
| MANAPPURAM | 228.06 | 230 |
| MARICO | 709.65 | 720 |
| MARUTI | 12615 | 12200 |
| MAXHEALTH | 1142.1 | 1160 |
| MCX | 6370.5 | 6200 |
| MFSL | 1396.7 | 1340 |
| MGL | 1382 | 1380 |
| MOTHERSON | 148.24 | 142.5 |
| MPHASIS | 2557.6 | 2540 |
| MRF | 142285 | 140000 |
| MUTHOOTFIN | 2089.6 | 2100 |
| NATIONALUM | 181.75 | 180 |
| NAUKRI | 1475.5 | 1440 |
| NBCC | 113.21 | 107 |
| NCC | 233.54 | 230 |
| NESTLEIND | 2392.6 | 2380 |
| NHPC | 87.62 | 86 |
| NMDC | 70.15 | 70 |
| NTPC | 346.15 | 345 |
| NYKAA | 200.48 | 200 |
| OBEROIRLTY | 1731.9 | 1680 |
| OFSS | 8383.5 | 8435 |
| OIL | 426.5 | 420 |
| ONGC | 248.68 | 240 |
| PAGEIND | 47620 | 47000 |
| PATANJALI | 1725 | 1780 |
| PAYTM | 843.1 | 860 |
| PEL | 1139 | 1100 |
| PERSISTENT | 5670 | 5600 |
| PETRONET | 321.75 | 320 |
| PFC | 412.7 | 420 |
| PHOENIXLTD | 1617.8 | 1600 |
| PIDILITIND | 2986.2 | 3020 |
| PIIND | 3709.9 | 3700 |
| PNB | 101.9 | 100 |
| PNBHOUSING | 1050.8 | 1060 |
| POLICYBZR | 1726.7 | 1700 |
| POLYCAB | 6055 | 5900 |
| POONAWALLA | 397.2 | 390 |
| POWERGRID | 296.15 | 302.5 |
| PRESTIGE | 1432.6 | 1400 |
| RAMCOCEM | 978.8 | 980 |
| RBLBANK | 207.84 | 210 |
| RECLTD | 400.2 | 410 |
| RELIANCE | 1429.2 | 1390 |
| SAIL | 124.88 | 120 |
| SBICARD | 903.15 | 900 |
| SBILIFE | 1763.9 | 1740 |
| SBIN | 787.1 | 790 |
| SHREECEM | 31490 | 31000 |
| SHRIRAMFIN | 658 | 640 |
| SIEMENS | 3290.8 | 3100 |
| SJVN | 101.05 | 100 |
| SOLARINDS | 14192 | 13750 |
| SONACOMS | 525.05 | 510 |
| SRF | 2951.3 | 3000 |
| SUNPHARMA | 1731.8 | 1700 |
| SUPREMEIND | 3826 | 3800 |
| SYNGENE | 639.35 | 640 |
| TATACHEM | 859.1 | 860 |
| TATACOMM | 1664.7 | 1600 |
| TATACONSUM | 1138.8 | 1130 |
| TATAELXSI | 6184.5 | 6000 |
| TATAMOTORS | 726.8 | 700 |
| TATAPOWER | 401.85 | 400 |
| TATASTEEL | 161.64 | 155 |
| TATATECH | 757.2 | 700 |
| TCS | 3525.8 | 3500 |
| TECHM | 1598.2 | 1540 |
| TIINDIA | 3002.7 | 3000 |
| TITAGARH | 904.5 | 860 |
| TITAN | 3580.5 | 3500 |
| TORNTPHARM | 3289 | 3300 |
| TORNTPOWER | 1398.7 | 1420 |
| TRENT | 5443.5 | 5500 |
| TVSMOTOR | 2767.3 | 2780 |
| ULTRACEMCO | 11666 | 11800 |
| UNIONBANK | 139.46 | 132.5 |
| UNITDSPR | 1557.4 | 1540 |
| UPL | 638.4 | 650 |
| VBL | 479.15 | 500 |
| VEDL | 437.75 | 440 |
| VOLTAS | 1268.6 | 1280 |
| WIPRO | 250.92 | 247.5 |
| YESBANK | 20.98 | 21 |
| ZOMATO | 0 | 80 |
| ZYDUSLIFE | 889.65 | 890 |
Note:
| Stock LTP > Max Pain | Bearish Trend |
| Stock LTP < Max Pain | Bullish Trend |
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.
