Max pain

Lo strike al quale scade senza valore il maggior premio in opzioni, causando la perdita totale più grande per i compratori di opzioni.

Max pain is the strike price at which the largest number of outstanding options (calls and puts combined) would expire worthless, causing the greatest total loss for option buyers. The idea comes from the notion that, at expiration, the underlying tends to drift toward the price where option holders collectively lose the most and option sellers keep the most premium.

In practice, traders calculate it by adding up the value of all open calls and puts at each strike, then finding the strike where that total payout to holders is smallest. If a stock trades at 102 with heavy open interest clustered at the 100 strike, the 100 level may act as a magnet into expiration Friday.

Treat it as one clue, not a prediction. Max pain shifts as open interest changes, it only really matters near expiration for very liquid names, and plenty of stocks close nowhere near it. Using it as your sole reason to enter a trade is the common mistake.

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Tutti i termini sulle opzioni

Solo per uso didattico. Le quotazioni sono ritardate di circa 15 minuti e nulla di ciò che è riportato qui è consulenza finanziaria. Il trading di opzioni comporta un rischio sostanziale di perdita.