PAGEIND gamma exposure, walls and max pain for 16 Nov 2026
PAGEIND closed at ₹31,326.94 on 13 Nov 2026. Levels for the session of 16 Nov 2026 from that close: call wall ₹32,000, put wall ₹30,000, gamma flip ₹30,127 (the close sat above it), max pain ₹32,000 for the 23 Nov 2026 expiry. Call open interest exceeded put open interest: 6,10,100 call units and 2,37,940 put units. Calls added 2,08,300 units; puts added 35,900 units against the prior file. The PAGEIND gamma exposure by strike chart, the strike by expiry heatmap and the wall migration across archived sessions are at squawkflow.com/india/stocks/pageind, updated after each end-of-day exchange file.
Source: public end-of-day exchange data, 13 Nov 2026. End of day, not live. Not investment advice.
Computed from the 13 Nov 2026 close. Next update after the 16 Nov 2026 close, checked hourly from 19:10 to 22:10 IST that day.
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- Close
- 31,326.94
- 13 Nov 2026, lot size 20
- Call wall
- 32,000
- +2.15% from the close
- Put wall
- 30,000
- -4.24% from the close
- Gamma flip
- 30,127
- close above it
- Max pain
- 32,000
- Mon 23 Nov 2026 expiry
- PCR (OI)
- 0.39
- nearest expiry 0.39
- Net GEX
- ₹22.6 cr
- per 1% move
- Call wall32,000+2.15%
- Max pain32,000+2.15%
- Close31,326.94close
- Gamma flip30,127-3.83%
- Put wall30,000-4.24%
PAGEIND: what changed in the exchange file
PAGEIND's 23 Nov 2026 max pain was ₹32,000, above the close by 2.15%. This is an open-interest payout minimum, not a price target.
The largest absolute call OI change in PAGEIND's stored strike aggregation was at ₹32,000: +33,460 units, an addition.
The largest absolute put OI change in PAGEIND's stored strike aggregation was at ₹29,000: +15,960 units, an addition.
In PAGEIND's stored 12 Nov 2026 row, the close was ₹31,852.3, call OI 4,01,800 and put OI 2,02,040.
For PAGEIND's 23 Nov 2026 future, the closing price fell (-0.62%) and open interest increased (18.55%) on 13 Nov 2026. Futures and option units are separate series.
Gamma exposure by strike
Open interest and OI change by strike
| Strike | Call OI | Put OI | Call OI chg | Put OI chg | Call GEX | Put GEX | Net GEX |
|---|---|---|---|---|---|---|---|
| 30,000 | 3,180 | 30,420 | +1,700 | -3,420 | ₹0.46 cr | -₹4.5 cr | -₹4 cr |
| 30,500 | 0 | 5,780 | 0 | +1,200 | ₹0 cr | -₹1 cr | -₹1 cr |
| 31,000 | 6,380 | 18,340 | +3,120 | +1,880 | ₹1.3 cr | -₹3.5 cr | -₹2.2 cr |
| 31,500 | 10,060 | 11,640 | +9,000 | +8,160 | ₹2.1 cr | -₹2.3 cr | -₹0.22 cr |
| 32,000 | 50,080 | 20,180 | +33,460 | +900 | ₹9.2 cr | -₹3.9 cr | ₹5.2 cr |
| 32,500 | 33,760 | 5,440 | +13,780 | -100 | ₹5.9 cr | -₹0.94 cr | ₹4.9 cr |
Strike by expiry heatmap
| Strike | Mon 23 Nov 2026 | Tue 29 Dec 2026 |
|---|---|---|
| 33,500 | ₹2 | |
| 33,000 | ₹6.8 | ₹0.38 |
| 32,500 | ₹4.9 | |
| 32,000 | ₹4.6 | ₹0.69 |
| 31,500 | -₹0.08 | -₹0.14 |
| 31,000 | -₹2 | -₹0.23 |
| 30,500 | -₹1 | |
| 30,000 | -₹3.9 | -₹0.07 |
| 29,500 | -₹0.57 | |
| 29,000 | -₹3.3 |
Expiries
| Expiry | Days | Lot size | Call OI | Put OI | PCR | Max pain |
|---|---|---|---|---|---|---|
| Mon 23 Nov 2026 | 10 | 20 | 5,82,260 | 2,28,100 | 0.39 | 32,000 |
| Tue 29 Dec 2026 | 46 | 20 | 27,800 | 9,720 | 0.35 | 32,000 |
| Mon 25 Jan 2027 | 73 | 20 | 40 | 120 | 3.00 | 30,000 |
Wall migration
- Call wall40,000 to 32,000
- Put wall37,000 to 30,000
- Max pain37,000 to 32,000
- Close37,970 to 31,326.94
| Date | Close | Call wall | Put wall | Gamma flip | Max pain | PCR | Call OI chg | Put OI chg |
|---|---|---|---|---|---|---|---|---|
| 13 Nov 2026 | 31,326.94 | 32,000 | 30,000 | 30,127 | 32,000 | 0.39 | +2,08,300 | +35,900 |
| 12 Nov 2026 | 31,852.3 | 33,000 | 30,000 | 30,727 | 33,000 | 0.50 | +3,32,600 | +1,39,880 |
| 11 Nov 2026 | 36,569.79 | 37,000 | 36,000 | 35,096 | 36,500 | 0.90 | +23,260 | +21,360 |
| 9 Nov 2026 | 36,380 | 37,000 | 35,000 | 34,982 | 36,000 | 0.89 | -600 | +5,720 |
| 6 Nov 2026 | 35,928.83 | 37,000 | 35,000 | 34,358 | 35,500 | 0.78 | +1,940 | +7,120 |
| 5 Nov 2026 | 35,519.93 | 37,000 | 35,000 | 33,387 | 35,500 | 0.65 | +15,720 | +6,000 |
| 4 Nov 2026 | 35,749.57 | 36,000 | 35,000 | 34,258 | 35,000 | 0.81 | +440 | +480 |
| 3 Nov 2026 | 35,280 | 36,000 | 34,000 | 34,150 | 35,000 | 0.80 | +2,700 | +2,340 |
| 2 Nov 2026 | 35,499.2 | 36,000 | 34,000 | 34,205 | 35,000 | 0.79 | +3,080 | +2,280 |
| 30 Oct 2026 | 34,500 | 34,000 | 34,000 | 33,671 | 34,500 | 0.80 | +320 | +2,400 |
| 29 Oct 2026 | 34,141.21 | 35,000 | 34,000 | 32,650 | 34,000 | 0.69 | +4,400 | +1,700 |
| 28 Oct 2026 | 33,898.47 | 35,000 | 34,000 | 32,907 | 35,000 | 0.78 | +5,980 | +3,520 |
| 27 Oct 2026 | 34,559.76 | 35,000 | 34,000 | 32,659 | 35,000 | 0.91 | +2,240 | +1,880 |
| 26 Oct 2026 | 33,910 | 34,000 | 34,000 | 33,828 | 36,000 | 0.39 | -7,580 | -2,300 |
| 23 Oct 2026 | 33,829.69 | 34,500 | 34,000 | 33,657 | 36,000 | 0.38 | +800 | -3,740 |
| 22 Oct 2026 | 34,428.05 | 35,000 | 34,000 | 34,422 | 36,500 | 0.43 | +8,520 | +2,740 |
| 21 Oct 2026 | 34,870 | 36,500 | 35,000 | 34,699 | 36,500 | 0.45 | +1,380 | -700 |
| 19 Oct 2026 | 35,769.68 | 37,000 | 35,000 | 35,312 | 37,000 | 0.47 | +2,200 | +1,760 |
| 16 Oct 2026 | 36,145 | 37,000 | 37,000 | 35,284 | 37,000 | 0.46 | +4,660 | +800 |
| 15 Oct 2026 | 36,500 | 37,000 | 37,000 | 35,341 | 37,000 | 0.48 | +3,640 | +780 |
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 -₹75.1 cr per 1% move and there is no gamma flip. Why both are shown.
Settlement prices and open interest from 13 Nov 2026. 103 contracts used; 0 skipped with no solvable volatility. Calculation details and limits.
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