Hindustan Petroleum Corporation Limited Max Pain Analysis
What is Max Pain?
Max Pain theory states the underlying gravitates toward the strike where option writers face minimum collective loss at expiry. For HINDPETRO, that strike is ₹350. Spot at ₹347.15 is near max pain — the expiry magnetic pull is active.
Max Pain Level
The “max pain” strike for Hindustan Petroleum Corporation Limited sits at ₹350, the point where option writers collectively suffer the smallest aggregate loss as contracts unwind. This level acts like a magnetic pull that often draws the underlying price toward it as expiration approaches.
Spot vs Max Pain Gap
The current market price of ₹347.15 trails the ₹350 level by roughly 0.81%, indicating a modest upside gap. A narrowing of this spread would suggest buying pressure that could nudge the spot closer to the theoretical magnet.
Shift Signal
The max‑pain figure has risen by five points from the prior day, implying that writers have repositioned toward a higher strike. Such a upward shift typically reflects hedgers tightening their net‑short exposure in anticipation of a rally.
Expiry Context
As the November 23 expiry looms, option writers tend to steer the underlying toward the strike that minimizes their combined payout, creating a convergence effect in the final week. Nevertheless, this is a statistical tendency rather than a deterministic outcome, and market forces can override the pull at any time.
Data Note
The spot sits about three rupees below the max‑pain level with 26 days remaining until expiration.
Data as of 2026-10-28