MUTHOOTFIN gamma exposure, walls and max pain for 3 Nov 2026

MUTHOOTFIN closed at ₹2,514.81 on 2 Nov 2026. Levels for the session of 3 Nov 2026 from that close: call and put walls both at ₹2,500, gamma flip ₹2,423 (the close sat above it), max pain ₹2,500 for the 23 Nov 2026 expiry. Put open interest exceeded call open interest: 33,79,750 call units and 34,54,275 put units. Calls added 5,51,375 units; puts added 9,76,800 units against the prior file. The MUTHOOTFIN gamma exposure by strike chart, the strike by expiry heatmap and the wall migration across archived sessions are at squawkflow.com/india/stocks/muthootfin, updated after each end-of-day exchange file.

Source: public end-of-day exchange data, 2 Nov 2026. End of day, not live. Not investment advice.

Computed from the 2 Nov 2026 close. Next update after the 3 Nov 2026 close, checked hourly from 19:10 to 22:10 IST that day.

Close: 2,514.81; 2 Nov 2026, lot size 275
Call wall: 2,500; -0.59% from the close
Put wall: 2,500; -0.59% from the close
Gamma flip: 2,423; close above it
Max pain: 2,500; Mon 23 Nov 2026 expiry
PCR (OI): 1.02; nearest expiry 1.04
Net GEX: ₹9.7 cr; per 1% move

Close2,514.81close
Call wall2,500-0.59%
Put wall2,500-0.59%
Max pain2,500-0.59%
Gamma flip2,423-3.65%

MUTHOOTFIN: what changed in the exchange file

MUTHOOTFIN's 23 Nov 2026 max pain was ₹2,500, below the close by 0.59%. This is an open-interest payout minimum, not a price target.

The largest absolute call OI change in MUTHOOTFIN's stored strike aggregation was at ₹2,600: +2,66,750 units, an addition.

The largest absolute put OI change in MUTHOOTFIN's stored strike aggregation was at ₹2,300: +6,02,525 units, an addition.

In MUTHOOTFIN's stored 30 Oct 2026 row, the close was ₹2,408.6, call OI 28,28,375 and put OI 24,77,475.

For MUTHOOTFIN's 23 Nov 2026 future, the closing price rose (5.12%) and open interest decreased (-2.65%) on 2 Nov 2026. Futures and option units are separate series.

Gamma exposure by strike

Put GEXStrikeCall GEXNetLevel

2,600₹5.7 cr

2,550₹1.3 cr

2,500₹5.3 crclosecall wallput wallmax pain

2,450₹1.2 crflip

Open interest and OI change by strike

Open interest and its change in units, summed over all listed expiries; GEX in ₹ crore per 1% move from expiries within 60 days. Strikes within 5% of the close.
Strike	Call OI	Put OI	Call OI chg	Put OI chg	Call GEX	Put GEX	Net GEX
2,400	1,79,025	4,48,250	-91,025	+1,91,125	₹1.8 cr	-₹4.4 cr	-₹2.6 cr
2,450	2,84,075	1,85,350	+13,475	+62,425	₹3.4 cr	-₹2.2 cr	₹1.2 cr
2,500	8,17,300	4,18,000	+1,86,725	+2,32,925	₹10.9 cr	-₹5.6 cr	₹5.3 cr
2,550	1,72,425	77,000	+68,475	+50,875	₹2.4 cr	-₹1.1 cr	₹1.3 cr
2,600	5,55,500	1,19,350	+2,66,750	+32,175	₹7.3 cr	-₹1.6 cr	₹5.7 cr

Strike by expiry heatmap

Net GEX (dealers long calls) by strike and expiry, ₹ crore per 1% move. Tint shows sign and size: one colour for positive gamma, the other for negative, and negative values carry a minus sign.
Strike	Mon 23 Nov 2026	Tue 29 Dec 2026
2,700	₹2.2	₹0.07
2,650	₹1.4
2,600	₹5.6	₹0.09
2,550	₹1.3
2,500	₹5.3
2,450	₹1.2
2,400	-₹2.6	-₹0.09
2,350	-₹0.38

Expiries

Lot sizes as printed on each contract row of the exchange file.
Expiry	Days	Lot size	Call OI	Put OI	PCR	Max pain
Mon 23 Nov 2026	21	275	32,77,725	33,97,075	1.04	2,500
Tue 29 Dec 2026	57	275	1,01,750	55,550	0.55	2,500
Mon 25 Jan 2027	84	275	275	1,650	6.00	2,300

Wall migration

Call wall2,800 to 2,500
Put wall2,600 to 2,500
Max pain2,800 to 2,500
Close2,686.05 to 2,514.81

Date	Close	Call wall	Put wall	Gamma flip	Max pain	PCR	Call OI chg	Put OI chg
2 Nov 2026	2,514.81	2,500	2,500	2,423	2,500	1.02	+5,51,375	+9,76,800
30 Oct 2026	2,408.6	2,500	2,250	2,337	2,450	0.88	+4,11,400	+4,10,575
29 Oct 2026	2,497.18	2,500	2,400	2,314	2,500	0.85	+69,850	+2,83,525
28 Oct 2026	2,392.74	2,500	2,250	2,243	2,450	0.76	+2,18,900	+1,29,250
27 Oct 2026	2,407.48	2,500	2,250	2,252	2,450	0.78	+4,24,600	+3,19,550
26 Oct 2026	2,395.8	2,400	2,400	2,344	2,600	0.67	+6,600	+61,050
23 Oct 2026	2,372.76	2,500	2,300	2,356	2,600	0.65	-2,30,175	+53,625
22 Oct 2026	2,415	2,500	2,500	2,375	2,600	0.61	+2,44,750	+1,26,500
21 Oct 2026	2,489.64	2,600	2,500	2,431	2,600	0.62	+7,94,475	+2,58,500
19 Oct 2026	2,566.2	2,600	2,600	2,541	2,650	0.68	+2,37,050	+28,325
16 Oct 2026	2,598.32	2,700	2,600	2,563	2,700	0.72	+25,850	+3,74,275
15 Oct 2026	2,600	2,700	2,600	2,515	2,700	0.61	-4,73,825	+81,675
14 Oct 2026	2,580.03	2,700	2,600	2,446	2,650	0.52	+6,11,050	+72,875
13 Oct 2026	2,626	2,700	2,600	2,513	2,700	0.59	+1,04,225	-79,200
12 Oct 2026	2,633.96	2,800	2,600	2,558	2,700	0.64	+49,225	+74,800
9 Oct 2026	2,624.6	2,800	2,600	2,534	2,700	0.62	+1,25,125	-45,375
8 Oct 2026	2,559.62	2,800	2,600	2,519	2,700	0.66	+2,65,375	+3,33,025
7 Oct 2026	2,654.4	2,800	2,600	2,526	2,750	0.61	+3,47,050	+1,30,900
6 Oct 2026	2,686.05	2,800	2,600	2,552	2,800	0.64	+2,56,025	+77,825

Method and sign convention

Sign convention on screen: Dealers long calls, short puts. Under the other reading (option writers short every option), net GEX is -₹59.6 cr per 1% move and there is no gamma flip. Why both are shown.

Settlement prices and open interest from 2 Nov 2026. 68 contracts used; 0 skipped with no solvable volatility. Calculation details and limits.

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