# MUTHOOTFIN gamma exposure, walls and max pain

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

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 https://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.

## 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.

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.

## Levels for the next session

| Level | Value |
| --- | --- |
| Close | 2,514.81 (2 Nov 2026) |
| Call wall | 2,500 |
| Put wall | 2,500 |
| Gamma flip | 2,423 |
| Net GEX, Dealers long calls, short puts | ₹9.7 cr per 1% move |
| Net GEX, Option writers short every option | -₹59.6 cr per 1% move |
| Max pain, 23 Nov 2026 expiry | 2,500 |
| PCR (OI), all expiries | 1.02 |
| PCR (OI), nearest expiry | 1.04 |
| Lot size (nearest expiry) | 275 |

## Expiries

| Expiry | Days | Lot | 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 |

## 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 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 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 |

## Recent sessions

| Date | Close | Call wall | Put wall | Gamma flip | Max pain | PCR |
| --- | --- | --- | --- | --- | --- | --- |
| 2 Nov 2026 | 2,514.81 | 2,500 | 2,500 | 2,423 | 2,500 | 1.02 |
| 30 Oct 2026 | 2,408.6 | 2,500 | 2,250 | 2,337 | 2,450 | 0.88 |
| 29 Oct 2026 | 2,497.18 | 2,500 | 2,400 | 2,314 | 2,500 | 0.85 |
| 28 Oct 2026 | 2,392.74 | 2,500 | 2,250 | 2,243 | 2,450 | 0.76 |
| 27 Oct 2026 | 2,407.48 | 2,500 | 2,250 | 2,252 | 2,450 | 0.78 |
| 26 Oct 2026 | 2,395.8 | 2,400 | 2,400 | 2,344 | 2,600 | 0.67 |
| 23 Oct 2026 | 2,372.76 | 2,500 | 2,300 | 2,356 | 2,600 | 0.65 |
| 22 Oct 2026 | 2,415 | 2,500 | 2,500 | 2,375 | 2,600 | 0.61 |
| 21 Oct 2026 | 2,489.64 | 2,600 | 2,500 | 2,431 | 2,600 | 0.62 |
| 19 Oct 2026 | 2,566.2 | 2,600 | 2,600 | 2,541 | 2,650 | 0.68 |
| 16 Oct 2026 | 2,598.32 | 2,700 | 2,600 | 2,563 | 2,700 | 0.72 |
| 15 Oct 2026 | 2,600 | 2,700 | 2,600 | 2,515 | 2,700 | 0.61 |
| 14 Oct 2026 | 2,580.03 | 2,700 | 2,600 | 2,446 | 2,650 | 0.52 |
| 13 Oct 2026 | 2,626 | 2,700 | 2,600 | 2,513 | 2,700 | 0.59 |
| 12 Oct 2026 | 2,633.96 | 2,800 | 2,600 | 2,558 | 2,700 | 0.64 |
| 9 Oct 2026 | 2,624.6 | 2,800 | 2,600 | 2,534 | 2,700 | 0.62 |
| 8 Oct 2026 | 2,559.62 | 2,800 | 2,600 | 2,519 | 2,700 | 0.66 |
| 7 Oct 2026 | 2,654.4 | 2,800 | 2,600 | 2,526 | 2,750 | 0.61 |
| 6 Oct 2026 | 2,686.05 | 2,800 | 2,600 | 2,552 | 2,800 | 0.64 |

## Method

Implied volatility from settlement prices, carry from put-call parity, risk-free rate 5.5%. 68 contracts used, 0 skipped (no solvable volatility), 0 expiring on the trade date left out. Full method: https://squawkflow.com/india/method