What is Max Pain?
In Options Trading, the Max Pain theory, sometimes also called Strike Price Pegging focuses on the idea that towards expiration date the price of a stock will move towards its strike price thus inflicting most losses (pain) to the majority of option traders as all parties with high investments try to steer the stock price towards their calls or puts to minimize their losses. Max Pain calculations on our site use g intraday data and are up to date to within 30 minutes.
"In the option market, wealth transfer between option buyers and sellers is a zero-sum game. On option expiration days, the underlying stock price often moves toward a point that brings maximum loss to option buyers. This specific price, calculated based on all outstanding options in the market, is called Option Pain. Option Pain is a proxy for the stock price manipulation target by the option selling group."
Max Pain理论是用来计算使期权买家最痛苦的股票行权日的收盘价，所以称为Max Pain
"Max Pain原理源于option(期权)市场，狭义的MP是指个股股价或指数在期权到期日一定会停在call和put发售最多的位置，这样能够让最多的人所持有的期权归零。广义的max pain就是说市场一般会朝着让大多数人痛苦的方向发展，这样才能够实现主力的利益最大化。"
"因此经常可看到如果股票的价格收在Max Pain，机构投资者的损失最小，所以常看到一些交易大的股票，和市场指数如SPX，QQQQ在OE日常收在Max Pain附近。" |
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