Bank Nifty Max Pain Calculator

Max Pain theory in Options Trading is probably one of the newest bust most popular strategies for Options trading. This theory is backed upon the fact that about 95% of option buyers lose money.

Ezonics ez 622 driver for mac. We have personally traded based on max pain and the success ratio is pretty good. This article intends to explain max pain theory of options and how to profit from it. Also, we would go through Options max pain calculator excel sheet which can be downloaded from the end of this post.

Max Pain Theory: Definition and UsageThe idea behind Max Pain theory is the fact that Option writers tend to manipulate the expiry price of stock, index or commodity so that they benefit the most out of their positions. Although there is no authentic proof that how they manipulate the prices, yet this theory is widely accepted. As 95% of the options expire worthless and options is a zero sum game, this theory seems very realistic and logical. By definition, Max Pain is the strike price where if the underlying settles on expiry will cause maximum loss or maximum pain to the option buyers. Guess who would benefit from their loss? Yes, its Option sellers. Most of these Option Sellers are large investors / institutions or hedge funds that will hedge their positions and have the ability to manipulate the stock price to suit their open Options position.There are enormous ways in which you can benefit from Option pain.

As per max pain theory, as the time nears the options expiration. The deep pocket traders (large institutions, HNI, FII, Proprietary traders), they manipulate the stock prices in such a way that it expires at the max pain point. This max pain point is a point where a maximum number of options will expire worthlessly. Thus benefiting the options.

Basically, max pain tells you the approximate level at which the contract is going to expire. If you know know this level, you can simply write Call options slightly above this level and pocket the premiums on expiry.

Similarly, you can write Put options below this level. If you are a conservative option trader you can employ different hedging strategies like Bull Spreads or Bear Spreads. Options Max Pain CalculatorMax pain is calculated using the of options. The calculation is fairly simple and is summarized below:. List down the different strikes of the option chain along with their open interests. For each strike, calculate the profit/loss incurred to the option writers if the underlying expires at that level. This calculation should sum up the profit/loss for put as well as call option at that strike price.

The strike price at the the loss is minimum is termed as Max Pain strike price.Automated Excel sheet for Max Pain calculationWe have created Options max pain calculator excel sheet which does all the background calculations and shows the Max Pain strike price. This excel sheet is automated and you need not to manually enter any data into the sheet. Currently this excel sheet supports both Nifty and Banknifty from NSE. When you open the sheet it would throw some warnings which can be safely ignored. The sheet would refresh every 5 minutes.Below are few screenshots:New Updates – 1 st May 2020We have rolled out some updates to the sheet based on requests from several users. See below the details:. Added a feature to select any stock or index from NSE.

Based on your selection the data would get updated automatically. Added a feature to select the expiry date from the drop-down provided.

The sheet now connects to the. Programmatic scraping of data from NSE is blocked natively. As a workaround, added the cookie parameter in the sheet to allow this.How to use this Excel Sheet?Step 1: Double click and open the downloaded excel file. It will throw some warnings for the first time. Click on OK.Step 2: You’ll also see some prompts to set the privacy level for the NSE India website when you open this excel for the first time. Just set it to “public” as per the below screenshots:Step 3: Make sure you are connected to the Internet. The Excel sheet will auto-refresh whenever you open it.Step 4: You can change the Symbol, Symbol Type, and Expiry Date to get the relevant data.

Please note that Symbol Type and Expiry Date are dropdowns, so you can select the desired value from the list.For example:To fetch open interest data for NSE Nifty, the symbol should be “NIFTY” and symbol type should be “Index”. For Banknifty, the symbol should be “BANKNIFTY” and symbol type “Index”.And if you are looking for open interest data for any stock like Reliance, the symbol should be “RIL” and symbol type should be “Stock”Step 5: Once the data gets refreshed, you can check the “Max Pain” value. In case the data doesn’t refresh properly OR it gets timed out, please follow the instructions in the next section to set up the cookie value.

Setup Cookie Value (Optional)There is a possibility that this excel sheet won’t fetch data for you automatically because of web scraping restrictions imposed on the new NSE website.Don’t worry about it, we do have a workaround for you in case that happens. You’ll need to head over to the Cookie worksheet and paste the cookie value from your browser in the cell A2.See the instructions below to fetch the value of the cookie in Chrome and Firefox browsers. Google ChromeStep 1: Open below URL from your chrome browserStep 2: Press CTRL + SHIFT + I to open Inspect window OR right-click anywhere on the web page and click on “Inspect”Step 3: Navigate to Network menu from the Inspect window and press CTRL + R to reload the pageStep 4: Once the page is reloaded click on Option Chain.Step 5: Select “option-chain-indices?symbol=NIFTY” from the list. Go to headers and copy the value of bmsv located in Response Headers – set-cookieStep 6: Paste the copied value in cell A2 of cookie worksheet.Check out the below video illustration:Mozilla FirefoxStep 1: Open below URL from your Firefox browserStep 2: Right-click anywhere on the web page and click on “ Inspect Element”Step 3: Navigate to Network menu from the Inspect windowStep 4: Click on Option Chain from the webpage.Step 5: Select “option-chain-indices?symbol=NIFTY” from the list. Go to Cookies and copy the value of bmsvStep 6: Paste the copied value in cell A2 of cookie worksheet.Check out the below video illustration:Data Refresh FrequencyThe data in the sheet gets refreshed automatically when:. You open the sheet.

Click on Data – Refresh All. Every 5 minutes (as specified in the connection properties)You may change the frequency as per your convenience from the connection properties. Download LinkEnter you Email address below and get the sheet in your mailbox. Alternatively, you can use. New Updates – 1st May 2020We have rolled out some updates to the sheet based on requests from several users.

See below the details:1. Added a feature to select any stock or index from NSE. Based on your selection the data would get updated automatically.2. Added a feature to select the expiry date from the drop-down provided.3. The sheet now connects to the new NSE website.4.

Programmatic scraping of data from NSE is blocked natively. As a workaround, added the cookie parameter in the sheet to allow this.

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