Hindustan Petroleum Corporation Limited Max Pain Analysis

Hindustan Petroleum Corporation Limited's max pain strike is ₹400 for the 2026-06-30 expiry (23 days away). Spot is 3.7% below max pain.

Hindustan Petroleum Corporation Limited's max pain is calculated by taking every possible expiry price and computing the total ITM payout to all option buyers: sum of (CE OI × max(0, spot − strike)) + (PE OI × max(0, strike − spot)) for all strikes. The strike with the minimum total payout is the max pain — where option writers collectively lose the least.

Max pain theory suggests the underlying tends to gravitate toward the max pain strike as expiry approaches, because option writers (who have the capital and hedging ability) can influence spot price. It's more reliable within 1 week of expiry and for liquid stocks like Hindustan Petroleum Corporation Limited. It should be used with other signals, not in isolation.

Hindustan Petroleum Corporation Limited's max pain is unchanged from the previous session. Max pain shifts indicate that option writers are adjusting their positions — a rising max pain is modestly bullish; falling is modestly bearish.

Hindustan Petroleum Corporation Limited's next options expiry is on 2026-06-30 — 23 days away. NSE F&O stocks have monthly expiry on the last Tuesday of each month. As expiry approaches, gamma risk increases and max pain becomes a stronger gravitational force.