期權最痛 Options Maximum Pain

Last Updated : After Market Closed

"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."
		Note:
		
		以上價值以一期權對一股計算。如要計算真實價內期權總值,請將上值乘以每張期權代表之股數。
		e.g.
			Stock:
			Value = $0.1m
			Lot size = 1000
			Real Total ITM Options Value = $0.1m x 1000 = $100m
			
			Index: 
			Value = $100m
			Price for each point = $50
			Real Total ITM Options Value = $100m x 50 = $5000m
			
		
參考 Reference: http://www.optiontradingpedia.com/option_pain.htm