# SUZLON gamma exposure, walls and max pain

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

SUZLON closed at ₹33.9 on 30 Oct 2026. Levels for the session of 2 Nov 2026 from that close: call wall ₹35, put wall ₹33, gamma flip ₹31 (the close sat above it), max pain ₹35 for the 23 Nov 2026 expiry. Call open interest exceeded put open interest: 29,97,45,400 call units and 12,05,86,500 put units. Calls added 13,33,37,300 units; puts added 2,01,54,900 units against the prior file. The SUZLON gamma exposure by strike chart, the strike by expiry heatmap and the wall migration across archived sessions are at https://squawkflow.com/india/stocks/suzlon, updated after each end-of-day exchange file.

Source: public end-of-day exchange data, 30 Oct 2026. End of day, not live. Not investment advice.

## SUZLON: what changed in the exchange file

SUZLON's 23 Nov 2026 max pain was ₹35, above the close by 3.24%. This is an open-interest payout minimum, not a price target.

The largest absolute call OI change in SUZLON's stored strike aggregation was at ₹40: +2,95,27,500 units, an addition.

The largest absolute put OI change in SUZLON's stored strike aggregation was at ₹33: +1,11,50,600 units, an addition.

In SUZLON's stored 29 Oct 2026 row, the close was ₹36.79, call OI 16,64,08,100 and put OI 10,04,31,600.

For SUZLON's 23 Nov 2026 future, the closing price fell (-9.08%) and open interest decreased (-0.63%) on 30 Oct 2026. Futures and option units are separate series.

Computed from the 30 Oct 2026 close. Next update after the 2 Nov 2026 close, checked hourly from 19:10 to 22:10 IST that day.

## Levels for the next session

| Level | Value |
| --- | --- |
| Close | 33.9 (30 Oct 2026) |
| Call wall | 35 |
| Put wall | 33 |
| Gamma flip | 31 |
| Net GEX, Dealers long calls, short puts | ₹8.2 cr per 1% move |
| Net GEX, Option writers short every option | -₹28.4 cr per 1% move |
| Max pain, 23 Nov 2026 expiry | 35 |
| PCR (OI), all expiries | 0.40 |
| PCR (OI), nearest expiry | 0.41 |
| Lot size (nearest expiry) | 12700 |

## Expiries

| Expiry | Days | Lot | Call OI | Put OI | PCR | Max pain |
| --- | --- | --- | --- | --- | --- | --- |
| Mon 23 Nov 2026 | 24 | 12700 | 29,02,58,500 | 11,86,30,700 | 0.41 | 35 |
| Tue 29 Dec 2026 | 60 | 12700 | 90,55,100 | 19,43,100 | 0.21 | 35 |
| Mon 25 Jan 2027 | 87 | 12700 | 4,31,800 | 12,700 | 0.03 | 30 |

## 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 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 33 | 96,13,900 | 1,61,92,500 | +96,13,900 | +1,11,50,600 | ₹1.3 cr | -₹2.1 cr | -₹0.86 cr |
| 34 | 1,62,81,400 | 93,34,500 | +1,61,54,400 | +51,18,100 | ₹2.2 cr | -₹1.2 cr | ₹0.92 cr |
| 35 | 2,85,11,500 | 93,59,900 | +2,61,62,000 | -12,70,000 | ₹3.5 cr | -₹1.1 cr | ₹2.3 cr |

## Recent sessions

| Date | Close | Call wall | Put wall | Gamma flip | Max pain | PCR |
| --- | --- | --- | --- | --- | --- | --- |
| 30 Oct 2026 | 33.9 | 35 | 33 | 31 | 35 | 0.40 |
| 29 Oct 2026 | 36.79 | 40 | 37 | 34 | 38 | 0.60 |
| 28 Oct 2026 | 37.3 | 40 | 38 | 34 | 39 | 0.57 |
| 27 Oct 2026 | 36.92 | 40 | 38 | n/a | 40 | 0.58 |
| 26 Oct 2026 | 37.12 | 37 | 37 | 36 | 40 | 0.36 |
| 23 Oct 2026 | 37.4 | 40 | 37 | 37 | 40 | 0.40 |
| 22 Oct 2026 | 38.57 | 40 | 40 | 37 | 40 | 0.44 |
| 21 Oct 2026 | 39.4 | 40 | 40 | 38 | 40 | 0.45 |
| 19 Oct 2026 | 40.38 | 40 | 40 | 39 | 40 | 0.58 |
| 16 Oct 2026 | 42 | 40 | 40 | 40 | 40 | 0.63 |
| 15 Oct 2026 | 40.95 | 40 | 40 | 39 | 40 | 0.61 |
| 14 Oct 2026 | 40.8 | 40 | 40 | 38 | 40 | 0.59 |
| 13 Oct 2026 | 40.19 | 40 | 40 | 38 | 40 | 0.59 |
| 12 Oct 2026 | 39.57 | 40 | 38 | 37 | 40 | 0.56 |
| 9 Oct 2026 | 37.6 | 40 | 38 | 35 | 40 | 0.51 |
| 8 Oct 2026 | 36.43 | 40 | 36 | 34 | 40 | 0.49 |
| 7 Oct 2026 | 38.34 | 40 | 40 | 37 | 40 | 0.55 |
| 6 Oct 2026 | 39.16 | 40 | 40 | 36 | 41 | 0.47 |

## Method

Implied volatility from settlement prices, carry from put-call parity, risk-free rate 5.5%. 71 contracts used, 0 skipped (no solvable volatility), 0 expiring on the trade date left out. Full method: https://squawkflow.com/india/method