# SWIGGY gamma exposure, walls and max pain

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

SWIGGY closed at ₹185.65 on 26 Oct 2026. Levels for the session of 27 Oct 2026 from that close: call wall ₹190, put wall ₹180, gamma flip ₹180 (the close sat above it), max pain ₹200 for the 27 Oct 2026 expiry. Call open interest exceeded put open interest: 8,04,44,175 call units and 4,00,78,825 put units. Calls shed 95,39,275 units; puts added 21,38,900 units against the prior file. The SWIGGY gamma exposure by strike chart, the strike by expiry heatmap and the wall migration across archived sessions are at https://squawkflow.com/india/stocks/swiggy, updated after each end-of-day exchange file.

Source: public end-of-day exchange data, 26 Oct 2026. End of day, not live. Not investment advice.

## SWIGGY: what changed in the exchange file

SWIGGY's 27 Oct 2026 max pain was ₹200, above the close by 7.73%. This is an open-interest payout minimum, not a price target.

The largest absolute call OI change in SWIGGY's stored strike aggregation was at ₹185: -32,32,075 units, an unwind.

The largest absolute put OI change in SWIGGY's stored strike aggregation was at ₹175: +10,67,625 units, an addition.

In SWIGGY's stored 23 Oct 2026 row, the close was ₹176.04, call OI 8,99,83,450 and put OI 3,79,39,925.

For SWIGGY's 27 Oct 2026 future, the closing price rose (5.02%) and open interest decreased (-47.53%) on 26 Oct 2026. Futures and option units are separate series.

Computed from the 26 Oct 2026 close. Next update after the 27 Oct 2026 close, checked hourly from 18:10 to 21:10 IST that day.

## Levels for the next session

| Level | Value |
| --- | --- |
| Close | 185.65 (26 Oct 2026) |
| Call wall | 190 |
| Put wall | 180 |
| Gamma flip | 180 |
| Net GEX, Dealers long calls, short puts | ₹9.1 cr per 1% move |
| Net GEX, Option writers short every option | -₹45.6 cr per 1% move |
| Max pain, 27 Oct 2026 expiry | 200 |
| PCR (OI), all expiries | 0.50 |
| PCR (OI), nearest expiry | 0.50 |
| Lot size (nearest expiry) | 1825 |

## Expiries

| Expiry | Days | Lot | Call OI | Put OI | PCR | Max pain |
| --- | --- | --- | --- | --- | --- | --- |
| Tue 27 Oct 2026 | 1 | 1825 | 5,05,85,350 | 2,53,83,925 | 0.50 | 200 |
| Mon 23 Nov 2026 | 28 | 1825 | 2,95,83,250 | 1,46,49,275 | 0.49 | 195 |
| Tue 29 Dec 2026 | 64 | 1825 | 2,75,575 | 45,625 | 0.17 | 180 |

## 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 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 180 | 31,24,400 | 44,63,950 | -8,85,125 | +8,21,250 | ₹2.9 cr | -₹4.3 cr | -₹1.4 cr |
| 185 | 19,34,500 | 19,43,625 | -32,32,075 | +9,85,500 | ₹2.7 cr | -₹2.8 cr | -₹0.09 cr |
| 190 | 63,40,050 | 21,27,950 | +4,25,225 | +4,47,125 | ₹7.9 cr | -₹2.8 cr | ₹5.1 cr |

## Recent sessions

| Date | Close | Call wall | Put wall | Gamma flip | Max pain | PCR |
| --- | --- | --- | --- | --- | --- | --- |
| 26 Oct 2026 | 185.65 | 190 | 180 | 180 | 200 | 0.50 |
| 23 Oct 2026 | 176.04 | 185 | 180 | 168 | 200 | 0.42 |
| 22 Oct 2026 | 211.4 | 220 | 210 | 203 | 230 | 0.50 |
| 21 Oct 2026 | 223.64 | 230 | 240 | 213 | 240 | 0.47 |
| 19 Oct 2026 | 229 | 235 | 230 | 217 | 240 | 0.45 |
| 16 Oct 2026 | 234.29 | 240 | 240 | 219 | 240 | 0.45 |
| 15 Oct 2026 | 229.01 | 240 | 240 | 213 | 240 | 0.42 |
| 14 Oct 2026 | 230.98 | 240 | 240 | 217 | 245 | 0.43 |
| 13 Oct 2026 | 232.45 | 240 | 240 | 217 | 245 | 0.43 |
| 12 Oct 2026 | 230.02 | 250 | 240 | 217 | 245 | 0.44 |
| 9 Oct 2026 | 234.12 | 250 | 240 | 219 | 250 | 0.45 |
| 8 Oct 2026 | 234.99 | 250 | 240 | 223 | 250 | 0.48 |
| 7 Oct 2026 | 246 | 260 | 240 | 232 | 250 | 0.48 |
| 6 Oct 2026 | 244.2 | 260 | 240 | 224 | 255 | 0.44 |

## Method

Implied volatility from settlement prices, carry from put-call parity, risk-free rate 5.5%. 136 contracts used, 0 skipped (no solvable volatility), 0 expiring on the trade date left out. Full method: https://squawkflow.com/india/method