# FEDERALBNK gamma exposure, walls and max pain

Canonical: https://squawkflow.com/india/stocks/federalbnk

FEDERALBNK closed at ₹348.84 on 19 Oct 2026. Levels for the session of 21 Oct 2026 from that close: call wall ₹350, put wall ₹340, gamma flip ₹344 (the close sat above it), max pain ₹340 for the 27 Oct 2026 expiry. Put open interest exceeded call open interest: 3,82,37,500 call units and 4,22,52,500 put units. Calls added 33,87,500 units; puts added 1,42,20,000 units against the prior file. The FEDERALBNK gamma exposure by strike chart, the strike by expiry heatmap and the wall migration across archived sessions are at https://squawkflow.com/india/stocks/federalbnk, updated after each NSE end-of-day file.

Source: NSE end-of-day data, 19 Oct 2026. End of day, not live. Not investment advice.

## FEDERALBNK: what changed in the exchange file

FEDERALBNK's 27 Oct 2026 max pain was ₹340, below the close by 2.53%. This is an open-interest payout minimum, not a price target.

The largest absolute call OI change in FEDERALBNK's stored strike aggregation was at ₹360: +17,40,000 units, an addition.

The largest absolute put OI change in FEDERALBNK's stored strike aggregation was at ₹340: +30,15,000 units, an addition.

In FEDERALBNK's stored 16 Oct 2026 row, the close was ₹338, call OI 3,48,50,000 and put OI 2,80,32,500.

For FEDERALBNK's 27 Oct 2026 future, the closing price rose (3.34%) and open interest increased (3.46%) on 19 Oct 2026. Futures and option units are separate series.

Computed from the 19 Oct 2026 close. Next update after the 21 Oct 2026 close, checked hourly from 18:10 to 21:10 IST that day.

## Levels for the next session

| Level | Value |
| --- | --- |
| Close | 348.84 (19 Oct 2026) |
| Call wall | 350 |
| Put wall | 340 |
| Gamma flip | 344 |
| Net GEX, Dealers long calls, short puts | ₹12.9 cr per 1% move |
| Net GEX, Option writers short every option | -₹161 cr per 1% move |
| Max pain, 27 Oct 2026 expiry | 340 |
| PCR (OI), all expiries | 1.10 |
| PCR (OI), nearest expiry | 1.13 |
| Lot size (nearest expiry) | 2500 |

## Expiries

| Expiry | Days | Lot | Call OI | Put OI | PCR | Max pain |
| --- | --- | --- | --- | --- | --- | --- |
| Tue 27 Oct 2026 | 8 | 2500 | 3,32,82,500 | 3,76,77,500 | 1.13 | 340 |
| Mon 23 Nov 2026 | 35 | 2500 | 48,90,000 | 45,65,000 | 0.93 | 340 |
| Tue 29 Dec 2026 | 71 | 2500 | 65,000 | 10,000 | 0.15 | 330 |

## By strike (within 5% of the close)

GEX in ₹ crore per 1% move. OI and OI change in units.

| Strike | Call OI | Put OI | Call OI chg | Put OI chg | Call GEX | Put GEX | Net GEX |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 335 | 22,55,000 | 41,02,500 | -9,02,500 | +12,22,500 | ₹4.7 cr | -₹8.6 cr | -₹3.9 cr |
| 340 | 46,47,500 | 50,90,000 | -15,52,500 | +30,15,000 | ₹13.2 cr | -₹15 cr | -₹1.8 cr |
| 345 | 29,10,000 | 32,40,000 | -2,17,500 | +24,92,500 | ₹10.8 cr | -₹12 cr | -₹1.2 cr |
| 350 | 61,22,500 | 39,22,500 | +2,20,000 | +29,92,500 | ₹21.8 cr | -₹13.4 cr | ₹8.4 cr |
| 355 | 29,45,000 | 12,32,500 | +14,45,000 | +6,37,500 | ₹9.7 cr | -₹4.1 cr | ₹5.6 cr |
| 360 | 47,70,000 | 8,92,500 | +17,40,000 | +1,95,000 | ₹11.4 cr | -₹2.2 cr | ₹9.2 cr |
| 365 | 14,10,000 | 1,70,000 | +5,47,500 | -15,000 | ₹2.5 cr | -₹0.3 cr | ₹2.2 cr |

## Recent sessions

| Date | Close | Call wall | Put wall | Gamma flip | Max pain | PCR |
| --- | --- | --- | --- | --- | --- | --- |
| 19 Oct 2026 | 348.84 | 350 | 340 | 344 | 340 | 1.10 |
| 16 Oct 2026 | 338 | 340 | 330 | 329 | 335 | 0.80 |
| 15 Oct 2026 | 335 | 330 | 330 | 324 | 330 | 0.92 |
| 14 Oct 2026 | 330 | 330 | 330 | 318 | 330 | 0.86 |
| 13 Oct 2026 | 329.5 | 330 | 330 | 322 | 330 | 0.92 |
| 12 Oct 2026 | 328.2 | 330 | 320 | 320 | 330 | 0.90 |
| 9 Oct 2026 | 329.98 | 330 | 320 | 322 | 330 | 0.95 |
| 8 Oct 2026 | 321 | 330 | 320 | 314 | 325 | 0.89 |
| 7 Oct 2026 | 323.5 | 330 | 320 | 318 | 330 | 0.91 |
| 6 Oct 2026 | 320 | 330 | 320 | 313 | 330 | 0.89 |

## Method

Implied volatility from settlement prices, carry from put-call parity, risk-free rate 5.5%. 98 contracts used, 0 skipped (no solvable volatility), 0 expiring on the trade date left out. Full method: https://squawkflow.com/india/method