# Fin Nifty gamma exposure, walls and max pain

Canonical: https://squawkflow.com/india/fin-nifty

Source: NSE end-of-day data, 8 Oct 2026. End of day, not live. Not investment advice.

Fin Nifty levels for the session of 9 Oct 2026, from the 8 Oct 2026 close of 24,640.45: call wall 25,000, put wall 24,600, gamma flip 24,331 (the close sat above it), max pain 25,000 for the 27 Oct 2026 expiry, put/call OI ratio 0.83, net GEX ₹5.9 cr per 1% move.

## Levels for the next session

| Level | Value |
| --- | --- |
| Close | 24,640.45 (8 Oct 2026) |
| Call wall | 25,000 |
| Put wall | 24,600 |
| Gamma flip | 24,331 |
| Net GEX, Dealers long calls, short puts | ₹5.9 cr per 1% move |
| Net GEX, Option writers short every option | -₹105 cr per 1% move |
| Max pain, 27 Oct 2026 expiry | 25,000 |
| PCR (OI), all expiries | 0.83 |
| PCR (OI), nearest expiry | 0.82 |
| Lot size (nearest expiry) | 60 |

## Expiries

| Expiry | Days | Lot | Call OI | Put OI | PCR | Max pain |
| --- | --- | --- | --- | --- | --- | --- |
| Tue 27 Oct 2026 | 19 | 60 | 2,93,460 | 2,42,160 | 0.82 | 25,000 |
| Mon 23 Nov 2026 | 46 | 60 | 0 | 120 | n/a | no open interest yet |
| Tue 29 Dec 2026 | 82 | 60 | 0 | 0 | n/a | no open interest yet |

## 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 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 23,450 | 0 | 120 | 0 | 0 | ₹0 cr | -₹0.01 cr | -₹0.01 cr |
| 23,500 | 120 | 18,060 | 0 | +5,040 | ₹0.01 cr | -₹2 cr | -₹2 cr |
| 23,550 | 240 | 0 | 0 | 0 | ₹0.03 cr | ₹0 cr | ₹0.03 cr |
| 23,600 | 180 | 780 | 0 | 0 | ₹0.02 cr | -₹0.09 cr | -₹0.07 cr |
| 23,650 | 180 | 60 | 0 | 0 | ₹0.02 cr | -₹0.01 cr | ₹0.02 cr |
| 23,700 | 180 | 1,740 | +180 | +240 | ₹0.02 cr | -₹0.23 cr | -₹0.21 cr |
| 23,750 | 480 | 780 | 0 | +420 | ₹0.07 cr | -₹0.11 cr | -₹0.04 cr |
| 23,800 | 600 | 1,140 | 0 | +360 | ₹0.09 cr | -₹0.17 cr | -₹0.08 cr |
| 23,850 | 360 | 1,500 | 0 | +180 | ₹0.06 cr | -₹0.23 cr | -₹0.18 cr |
| 23,900 | 420 | 3,240 | 0 | +60 | ₹0.07 cr | -₹0.54 cr | -₹0.47 cr |
| 23,950 | 420 | 1,860 | +60 | 0 | ₹0.07 cr | -₹0.33 cr | -₹0.25 cr |
| 24,000 | 900 | 11,100 | +180 | +1,080 | ₹0.16 cr | -₹1.9 cr | -₹1.8 cr |
| 24,050 | 1,020 | 600 | 0 | -660 | ₹0.2 cr | -₹0.11 cr | ₹0.08 cr |
| 24,100 | 900 | 2,220 | 0 | +300 | ₹0.17 cr | -₹0.42 cr | -₹0.25 cr |
| 24,150 | 900 | 1,320 | 0 | -900 | ₹0.18 cr | -₹0.27 cr | -₹0.09 cr |
| 24,200 | 540 | 1,740 | 0 | -1,080 | ₹0.11 cr | -₹0.34 cr | -₹0.23 cr |
| 24,250 | 1,080 | 1,260 | +240 | +60 | ₹0.22 cr | -₹0.26 cr | -₹0.04 cr |
| 24,300 | 1,200 | 6,300 | 0 | -660 | ₹0.26 cr | -₹1.3 cr | -₹1.1 cr |
| 24,350 | 1,380 | 1,200 | 0 | -420 | ₹0.3 cr | -₹0.26 cr | ₹0.04 cr |
| 24,400 | 2,940 | 9,120 | +240 | -1,140 | ₹0.66 cr | -₹2 cr | -₹1.4 cr |
| 24,450 | 720 | 3,420 | 0 | +1,260 | ₹0.16 cr | -₹0.77 cr | -₹0.61 cr |
| 24,500 | 6,900 | 19,260 | -900 | -960 | ₹1.6 cr | -₹4.5 cr | -₹2.9 cr |
| 24,550 | 1,620 | 2,580 | +720 | +540 | ₹0.38 cr | -₹0.61 cr | -₹0.23 cr |
| 24,600 | 5,640 | 36,180 | -240 | +6,180 | ₹1.3 cr | -₹8.6 cr | -₹7.3 cr |
| 24,650 | 1,620 | 3,360 | +240 | +720 | ₹0.39 cr | -₹0.81 cr | -₹0.42 cr |
| 24,700 | 10,800 | 7,620 | +2,760 | +360 | ₹2.6 cr | -₹1.9 cr | ₹0.77 cr |
| 24,750 | 2,340 | 2,580 | +1,080 | +540 | ₹0.57 cr | -₹0.63 cr | -₹0.06 cr |
| 24,800 | 10,380 | 5,940 | +2,040 | -2,640 | ₹2.6 cr | -₹1.5 cr | ₹1.1 cr |
| 24,850 | 2,280 | 3,420 | +1,080 | +660 | ₹0.57 cr | -₹0.85 cr | -₹0.28 cr |
| 24,900 | 6,540 | 10,440 | +600 | +3,180 | ₹1.6 cr | -₹2.6 cr | -₹0.97 cr |
| 24,950 | 3,420 | 2,340 | +540 | -180 | ₹0.83 cr | -₹0.57 cr | ₹0.26 cr |
| 25,000 | 55,500 | 13,800 | +26,640 | -2,340 | ₹13.4 cr | -₹3.3 cr | ₹10.1 cr |
| 25,050 | 2,160 | 3,840 | -900 | +240 | ₹0.52 cr | -₹0.92 cr | -₹0.4 cr |
| 25,100 | 41,520 | 6,120 | +28,920 | -840 | ₹9.8 cr | -₹1.4 cr | ₹8.4 cr |
| 25,150 | 2,760 | 1,740 | +780 | +60 | ₹0.64 cr | -₹0.4 cr | ₹0.24 cr |
| 25,200 | 16,680 | 2,640 | +4,500 | -180 | ₹3.8 cr | -₹0.6 cr | ₹3.2 cr |
| 25,250 | 2,580 | 1,800 | +420 | 0 | ₹0.59 cr | -₹0.41 cr | ₹0.18 cr |
| 25,300 | 4,980 | 1,560 | +720 | 0 | ₹1.1 cr | -₹0.34 cr | ₹0.74 cr |
| 25,350 | 2,340 | 1,440 | 0 | 0 | ₹0.5 cr | -₹0.31 cr | ₹0.19 cr |
| 25,400 | 4,680 | 1,500 | +1,500 | 0 | ₹0.96 cr | -₹0.31 cr | ₹0.65 cr |
| 25,450 | 1,140 | 1,140 | 0 | 0 | ₹0.23 cr | -₹0.23 cr | ₹0 cr |
| 25,500 | 15,420 | 27,480 | +600 | -8,520 | ₹2.9 cr | -₹5.2 cr | -₹2.3 cr |
| 25,550 | 1,500 | 1,140 | +60 | 0 | ₹0.28 cr | -₹0.21 cr | ₹0.07 cr |
| 25,600 | 9,180 | 1,500 | +3,900 | -180 | ₹1.6 cr | -₹0.26 cr | ₹1.4 cr |
| 25,650 | 2,700 | 1,020 | -120 | -180 | ₹0.45 cr | -₹0.17 cr | ₹0.28 cr |
| 25,700 | 0 | 840 | 0 | -360 | ₹0 cr | -₹0.13 cr | -₹0.13 cr |
| 25,750 | 0 | 780 | 0 | -360 | ₹0 cr | -₹0.12 cr | -₹0.12 cr |
| 25,800 | 0 | 1,800 | 0 | 0 | ₹0 cr | -₹0.26 cr | -₹0.26 cr |
| 25,850 | 0 | 720 | 0 | -180 | ₹0 cr | -₹0.1 cr | -₹0.1 cr |

## Recent sessions

| Date | Close | Call wall | Put wall | Gamma flip | Max pain | PCR |
| --- | --- | --- | --- | --- | --- | --- |
| 8 Oct 2026 | 24,640.45 | 25,000 | 24,600 | 24,331 | 25,000 | 0.83 |
| 7 Oct 2026 | 24,916.4 | 25,000 | 25,500 | 25,949 | 25,000 | 1.25 |
| 6 Oct 2026 | 24,946.05 | 25,000 | 24,600 | 25,110 | 24,900 | 1.07 |

## Method

Implied volatility from settlement prices, carry from put-call parity, risk-free rate 5.5%. 152 contracts used, 0 skipped (no solvable volatility), 0 expiring on the trade date left out. Full method: https://squawkflow.com/india/method