Max Pain

The cash value graph shows the result of the cash value max pain calculation. The yellow highlighted column indicates the max pain option strike. The max pain cash value calculation uses the Open Interest to determine the cash paid out by the option writers if the stock were to close at each strike. For details on how the cash value max pain point is derived, please visit the calculation page.

Please note the open interest is updated daily prior to the market open. It is not updated intra-day. This page uses Yahoo Finance and similar sources for option data. The open interest data for the stock options is compiled nightly. Open Interest data is therefore valid prior to the market open, before the CBOE begins trading options each day. After the market opens and options begin trading the open interest data may no longer by valid. No option data source provides intra-day open interest. The only intra-day data available is the volume data.

The underlying option data, including open interest and cash values, can found on the Option Data page.

The numbers across the bottom represent the various strike prices of the stock options. Max Pain is calculated for each strike by determining the cash value paid out on each call and put option at that strike. The red vertical bar is the put option cash value. The green vertical bar is the call option cash value. The further away the stock price is from the max pain point the more the option writers will have to pay out. Conversely, the closer to the max pain point the stock price is the less they pay out.

Max pain theory says that the option writers will hedge the contracts they have written. In the case of the market maker, the hedging is done to remain neutral in the stock. Consider the market makers position if he must write an option contract without wanting a position in the stock. As the maturity date approaches, the stock price changes. In addition, contracts may be closed by the option buyers. As a result the option writer must re-balance his hedges. This re-balancing is an effort to hedge the open contracts, thus maintaining a state where the least amount of money will be paid out. Re-balancing of positions in the stock provide pressure on the price to close at the max pain point.

The maximum pain of Apple weekly options: One year later - Fortune
Jun 25, 2011 ... Below: His chart of 52 weeks of Apple Max Pain. For his analysis of what happened last week, see here. E-mail; Tweet; Facebook; Google Plus??...

My theory: Why Apple got smashed from 700 to 440 - AppleInsider You can use the drop down menu to change the maturity date. The amount of money the??...

What is Max Pain? It is a theory ... What is open interest (OI) Max Pain and how does it differ? ... If You Don't Like Apple, You Would Have Hated Walt Disney. max pain Home
Apple stock will split 7 shares for 1 over the weekend of June 7, 2014. Apple is the poster child for max pain theory. What does the stock split for max pain?

AAPL Max Pain -
AAPL Max Pain. Weekly Max Pain Calculator and Information. The cash value max pain calculation is the correct method for finding the stock price at market??...

Up to date analysis of Apple Inc. (AAPL) and its stock by hedge fund managers and industry experts. Find out what Apple Inc. is saying about its business from?

iMaxPain: Pro Options Max Pain Calculator and Tracker with ... - Apple
Dec 20, 2014 ... The ONLY dedicated app for calculating options max pain. Have you ever noticed that a stock sometimes closes pining at certain strike price on??...

Apple closes at or near 'Max Pain' 8 weeks out of 10 - Fortune
May 18, 2011 ... The theory known as Max Pain says that unless news or other events interfere, the stock will close Friday at or very near the chart's midpoint??...

Travis Lewis (Aapl_pain) on StockTwits
Independent trader. Study options and the affect it has on Apple. Run Aaplpain. com; an OI/Max Pain and Option Sentiment source.

Digging Deeper: Options Expert Discusses Pinning, Max Pain and ...
May 17, 2011 ... Return to Part I In part two of my series on options pinning and maximum pain theory, with a focus on Apple (NASDAQ:AAPL), I interview??...


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Wednesday, July 29, 2015 3:45 PM
$KNDI OI for maturity 07/31/2015. 10.00 Highest put. 9.00 Highest call.
Wednesday, July 29, 2015 3:30 PM
$spy Max Pain is 210.00 for maturity 07/31/2015. Price = 210.86.
Wednesday, July 29, 2015 3:00 PM
$KNDI Max Pain is 8.00 for maturity 07/31/2015. Price = 7.28.
Wednesday, July 29, 2015 2:45 PM
$PCLN OI for maturity 07/31/2015. 1190.00 Highest put. 1250.00 Highest call.