Nifty gamma exposure, walls and max pain for 9 Oct 2026
Source: NSE end-of-day data, 8 Oct 2026. End of day, not live. Not investment advice.
Nifty levels for the session of 9 Oct 2026, from the 8 Oct 2026 close of 22,231.8: call wall 22,500, put wall 22,000, gamma flip 22,144 (the close sat above it), max pain 22,400 for the 13 Oct 2026 expiry, put/call OI ratio 0.73, net GEX ₹11,166 cr per 1% move.
- Close
- 22,231.8
- 8 Oct 2026
- Call wall
- 22,500
- +1.21%
- Put wall
- 22,000
- -1.04%
- Gamma flip
- 22,144
- Max pain
- 22,400
- Tue 13 Oct 2026 expiry
- PCR (OI)
- 0.73
- nearest 0.62
- Net GEX
- ₹11,166 cr
- per 1% move
Sign convention on screen: Dealers long calls, short puts. Under the other reading (option writers short every option), net GEX is -₹1,05,303 cr per 1% move and there is no gamma flip. Why both are shown.
Gamma exposure by strike
Put GEXStrikeCall GEXNet
23,100₹549 cr
23,050₹248 cr
23,000₹2,186 cr
22,950₹386 cr
22,900₹1,202 cr
22,850₹758 cr
22,800₹2,414 cr
22,750₹1,180 cr
22,700₹2,989 cr
22,650₹1,518 cr
22,600₹3,243 cr
22,550₹1,655 cr
22,500₹4,183 cr
22,450₹1,275 cr
22,400₹3,984 cr
22,350₹1,092 cr
22,300-₹5.1 cr
22,250₹518 cr
22,200-₹2,177 cr
22,150-₹883 cr
22,100-₹1,911 cr
22,050-₹629 cr
22,000-₹5,207 cr
21,950-₹673 cr
21,900-₹1,504 cr
21,850-₹658 cr
21,800-₹2,063 cr
21,750-₹445 cr
21,700-₹1,188 cr
21,650-₹462 cr
21,600-₹688 cr
21,550-₹201 cr
21,500-₹1,668 cr
21,450-₹86.7 cr
21,400-₹367 cr
21,350-₹92 cr
Open interest and OI change by strike
| Strike | Call OI | Put OI | Call OI chg | Put OI chg | Call GEX | Put GEX | Net GEX |
|---|---|---|---|---|---|---|---|
| 21,150 | 65 | 5,42,165 | 0 | +1,54,830 | ₹0.01 cr | -₹25.9 cr | -₹25.9 cr |
| 21,200 | 650 | 52,08,645 | +520 | +26,23,595 | ₹0.02 cr | -₹284 cr | -₹284 cr |
| 21,250 | 1,235 | 7,51,205 | +715 | +3,20,125 | ₹0.01 cr | -₹44 cr | -₹44 cr |
| 21,300 | 5,525 | 35,75,585 | +4,355 | +12,11,600 | ₹0.28 cr | -₹255 cr | -₹255 cr |
| 21,350 | 2,145 | 10,89,140 | +1,170 | +3,52,105 | ₹0.01 cr | -₹92 cr | -₹92 cr |
| 21,400 | 7,670 | 41,99,130 | +4,095 | +10,11,335 | ₹0.57 cr | -₹368 cr | -₹367 cr |
| 21,450 | 3,120 | 9,12,080 | +1,885 | +2,58,245 | ₹0.04 cr | -₹86.7 cr | -₹86.7 cr |
| 21,500 | 7,89,750 | 1,56,21,905 | +2,09,560 | +42,14,665 | ₹106 cr | -₹1,773 cr | -₹1,668 cr |
| 21,550 | 8,905 | 16,17,785 | +5,395 | +10,05,615 | ₹0.62 cr | -₹201 cr | -₹201 cr |
| 21,600 | 19,175 | 48,24,430 | +13,325 | +17,51,620 | ₹2.3 cr | -₹690 cr | -₹688 cr |
| 21,650 | 6,825 | 28,11,185 | +2,080 | +17,97,705 | ₹0.48 cr | -₹462 cr | -₹462 cr |
| 21,700 | 30,615 | 63,21,965 | +21,320 | +12,53,590 | ₹5.2 cr | -₹1,193 cr | -₹1,188 cr |
| 21,750 | 16,835 | 20,44,380 | +13,065 | +9,08,505 | ₹2.8 cr | -₹448 cr | -₹445 cr |
| 21,800 | 1,50,865 | 85,80,780 | +1,01,985 | +29,87,140 | ₹34.6 cr | -₹2,098 cr | -₹2,063 cr |
| 21,850 | 25,870 | 22,91,575 | +22,100 | +12,18,750 | ₹6.6 cr | -₹665 cr | -₹658 cr |
| 21,900 | 1,77,125 | 50,45,560 | +97,630 | +11,53,425 | ₹49.2 cr | -₹1,554 cr | -₹1,504 cr |
| 21,950 | 76,960 | 19,28,030 | +65,845 | +4,00,725 | ₹25.3 cr | -₹698 cr | -₹673 cr |
| 22,000 | 35,63,855 | 2,15,50,390 | +11,66,795 | +37,04,870 | ₹842 cr | -₹6,049 cr | -₹5,207 cr |
| 22,050 | 2,11,250 | 16,47,100 | +1,78,685 | +1,11,280 | ₹84.1 cr | -₹713 cr | -₹629 cr |
| 22,100 | 8,50,720 | 53,15,245 | +6,65,470 | +12,24,405 | ₹379 cr | -₹2,291 cr | -₹1,911 cr |
| 22,150 | 6,06,905 | 23,25,375 | +5,51,720 | +8,23,225 | ₹288 cr | -₹1,171 cr | -₹883 cr |
| 22,200 | 59,92,740 | 1,08,46,745 | +53,26,165 | +25,37,145 | ₹2,547 cr | -₹4,724 cr | -₹2,177 cr |
| 22,250 | 36,86,410 | 28,97,635 | +35,32,425 | +11,45,105 | ₹1,958 cr | -₹1,440 cr | ₹518 cr |
| 22,300 | 87,47,635 | 1,00,78,965 | +76,22,420 | +29,07,515 | ₹4,320 cr | -₹4,325 cr | -₹5.1 cr |
| 22,350 | 34,80,685 | 15,14,240 | +32,94,850 | +1,42,350 | ₹1,833 cr | -₹741 cr | ₹1,092 cr |
| 22,400 | 1,29,28,240 | 56,25,815 | +1,14,42,405 | -5,24,875 | ₹6,219 cr | -₹2,235 cr | ₹3,984 cr |
| 22,450 | 41,74,235 | 15,50,185 | +38,44,165 | -40,950 | ₹1,957 cr | -₹682 cr | ₹1,275 cr |
| 22,500 | 1,91,39,445 | 1,19,25,485 | +1,29,31,555 | -21,20,365 | ₹7,053 cr | -₹2,870 cr | ₹4,183 cr |
| 22,550 | 53,18,950 | 10,32,590 | +37,27,685 | -13,80,210 | ₹2,024 cr | -₹370 cr | ₹1,655 cr |
| 22,600 | 1,47,99,525 | 48,62,455 | +56,17,625 | -38,16,800 | ₹4,742 cr | -₹1,499 cr | ₹3,243 cr |
| 22,650 | 62,34,670 | 11,46,665 | +26,99,190 | -8,73,860 | ₹1,835 cr | -₹318 cr | ₹1,518 cr |
| 22,700 | 1,76,08,695 | 59,56,990 | +50,13,775 | -12,52,940 | ₹4,456 cr | -₹1,467 cr | ₹2,989 cr |
| 22,750 | 61,80,850 | 8,21,730 | +18,33,000 | -3,17,460 | ₹1,358 cr | -₹178 cr | ₹1,180 cr |
| 22,800 | 1,56,36,205 | 32,48,895 | +17,13,660 | -9,70,970 | ₹3,058 cr | -₹644 cr | ₹2,414 cr |
| 22,850 | 51,36,560 | 3,79,600 | +17,41,935 | -84,045 | ₹824 cr | -₹66.3 cr | ₹758 cr |
| 22,900 | 97,58,190 | 14,92,010 | +36,56,315 | -2,37,380 | ₹1,446 cr | -₹244 cr | ₹1,202 cr |
| 22,950 | 35,70,775 | 3,46,190 | +14,82,130 | -26,325 | ₹428 cr | -₹42.1 cr | ₹386 cr |
| 23,000 | 2,61,28,385 | 88,27,360 | +68,09,270 | -6,87,865 | ₹3,146 cr | -₹960 cr | ₹2,186 cr |
| 23,050 | 27,97,210 | 1,35,005 | -86,905 | -11,115 | ₹264 cr | -₹15.4 cr | ₹248 cr |
| 23,100 | 88,76,725 | 20,52,505 | +4,11,905 | +91,780 | ₹833 cr | -₹284 cr | ₹549 cr |
| 23,150 | 33,48,540 | 91,715 | -9,28,395 | -1,18,235 | ₹261 cr | -₹9 cr | ₹252 cr |
| 23,200 | 1,42,02,500 | 23,87,515 | +28,87,495 | -1,67,180 | ₹1,062 cr | -₹292 cr | ₹771 cr |
| 23,250 | 35,85,465 | 2,53,110 | +7,48,085 | -31,720 | ₹207 cr | -₹17.1 cr | ₹190 cr |
| 23,300 | 1,23,33,685 | 26,23,335 | +29,22,660 | -49,725 | ₹811 cr | -₹273 cr | ₹538 cr |
Nifty OI analysis: biggest additions and unwinds, OI by expiry. Nifty PCR: put call ratio by expiry, with history.
Strike by expiry heatmap
| Strike | Tue 13 Oct 2026 | Mon 19 Oct 2026 | Tue 27 Oct 2026 | Tue 3 Nov 2026 | Mon 9 Nov 2026 | Mon 23 Nov 2026 |
|---|---|---|---|---|---|---|
| 24,000 | ₹169 | ₹17.4 | ₹115 | ₹6.8 | ₹110 | |
| 23,950 | ₹11.7 | ₹1.1 | ₹7.5 | ₹0.12 | ₹2.5 | |
| 23,900 | ₹38.6 | ₹12.6 | ₹12.2 | ₹0.47 | ₹8.7 | |
| 23,850 | ₹18.9 | ₹3.4 | ₹4.9 | ₹0.14 | ₹1.6 | |
| 23,800 | ₹74 | ₹8.7 | ₹55.6 | ₹8.6 | ₹34.1 | |
| 23,750 | ₹11 | ₹1.4 | ₹6.6 | ₹0.11 | ₹1.8 | |
| 23,700 | ₹83.3 | ₹20 | ₹24.8 | ₹17.6 | ||
| 23,650 | ₹9.8 | ₹1.8 | ₹6.3 | ₹0.35 | ₹1.8 | |
| 23,600 | ₹94.2 | ₹13.5 | ₹34.4 | ₹4 | ₹22.2 | |
| 23,550 | ₹26.4 | ₹3.8 | ₹10.2 | ₹0.89 | ₹1.7 | |
| 23,500 | ₹340 | ₹52.7 | ₹286 | ₹11.2 | ₹1.8 | ₹84 |
| 23,450 | ₹55.6 | ₹4.4 | ₹27 | ₹0.78 | ₹0.05 | ₹3.2 |
| 23,400 | ₹222 | ₹30.1 | ₹83.3 | ₹3.2 | ₹1.6 | ₹14 |
| 23,350 | ₹56.8 | ₹9.5 | ₹13.1 | ₹0.93 | ₹0.18 | ₹3.7 |
| 23,300 | ₹297 | ₹88.3 | ₹126 | ₹6.4 | ₹0.14 | ₹20.4 |
| 23,250 | ₹137 | ₹18.1 | ₹30 | ₹1.2 | ₹0.07 | ₹3.7 |
| 23,200 | ₹529 | ₹81.4 | ₹124 | ₹6.6 | ₹29.4 | |
| 23,150 | ₹151 | ₹53.3 | ₹41.1 | ₹0.94 | ₹5.8 | |
| 23,100 | ₹417 | ₹69.2 | ₹11.7 | ₹2.4 | ₹0.53 | ₹48 |
| 23,050 | ₹193 | ₹26.1 | ₹24.4 | ₹1.7 | ₹0.06 | ₹3.2 |
| 23,000 | ₹1,283 | ₹274 | ₹445 | ₹15.1 | ₹2 | ₹167 |
| 22,950 | ₹336 | ₹29.8 | ₹16.4 | ₹1.5 | ₹0.35 | ₹1.7 |
| 22,900 | ₹879 | ₹149 | ₹158 | ₹3.1 | ₹1.3 | ₹12.4 |
| 22,850 | ₹699 | ₹29.6 | ₹26.1 | ₹1.8 | ₹1.7 | |
| 22,800 | ₹1,724 | ₹219 | ₹440 | ₹5.3 | ₹0.77 | ₹25.3 |
| 22,750 | ₹1,088 | ₹53.6 | ₹34.5 | ₹1.3 | ₹0.13 | ₹2.5 |
| 22,700 | ₹2,470 | ₹303 | ₹211 | ₹3.7 | ₹0.86 | ₹0.92 |
| 22,650 | ₹1,430 | ₹65.3 | ₹22.7 | ₹1.4 | -₹1.3 | |
| 22,600 | ₹2,717 | ₹223 | ₹202 | ₹14.4 | ₹0.48 | ₹86.7 |
| 22,550 | ₹1,566 | ₹54.7 | ₹31 | ₹1.4 | ₹1.7 | |
| 22,500 | ₹4,221 | ₹173 | -₹67 | ₹4.9 | ₹0.35 | -₹149 |
| 22,450 | ₹1,276 | ₹9.7 | -₹11.5 | ₹0.55 | ₹0.15 | |
| 22,400 | ₹4,039 | ₹43.8 | -₹20.8 | -₹0.58 | -₹77.3 | |
| 22,350 | ₹1,098 | ₹13.9 | -₹18.7 | -₹0.87 | -₹1.2 | |
| 22,300 | ₹648 | -₹15.9 | -₹616 | -₹0.79 | -₹21.1 | |
| 22,250 | ₹581 | -₹3.8 | -₹60.7 | ₹3.9 | -₹2.1 | |
| 22,200 | -₹1,735 | -₹120 | -₹269 | -₹1.2 | ₹0.15 | -₹52.3 |
| 22,150 | -₹867 | ₹13 | -₹26.9 | -₹0.23 | -₹1.6 | |
| 22,100 | -₹1,618 | -₹81.4 | -₹167 | -₹2.1 | -₹0.2 | -₹43.1 |
| 22,050 | -₹595 | -₹9.8 | -₹21.3 | -₹0.3 | -₹2.7 | |
| 22,000 | -₹3,908 | -₹257 | -₹791 | -₹11.5 | -₹0.7 | -₹240 |
| 21,950 | -₹627 | -₹24.2 | -₹17 | -₹1.4 | -₹3 | |
| 21,900 | -₹1,278 | -₹65.6 | -₹139 | -₹2.4 | -₹0.22 | -₹18.8 |
| 21,850 | -₹628 | -₹15.7 | -₹11.7 | -₹0.47 | -₹1.7 | |
| 21,800 | -₹1,715 | -₹137 | -₹183 | -₹2.9 | -₹0.07 | -₹25.2 |
| 21,750 | -₹360 | -₹68.5 | -₹14.6 | -₹0.47 | -₹1.7 | |
| 21,700 | -₹951 | -₹94.4 | -₹120 | -₹3.7 | -₹0.08 | -₹19 |
| 21,650 | -₹417 | -₹21.2 | -₹20.3 | -₹0.37 | -₹3.3 | |
| 21,600 | -₹538 | -₹55.9 | -₹80.8 | -₹1.6 | -₹11.8 | |
| 21,550 | -₹173 | -₹18.3 | -₹7.6 | -₹0.45 | -₹1.1 | |
| 21,500 | -₹1,001 | -₹111 | -₹446 | -₹4 | -₹0.34 | -₹105 |
| 21,450 | -₹72.1 | -₹6.6 | -₹6.7 | -₹0.2 | -₹1.1 | |
| 21,400 | -₹248 | -₹44.8 | -₹62.2 | -₹2.4 | -₹9.4 | |
| 21,350 | -₹48.3 | -₹7.9 | -₹33.5 | -₹0.19 | -₹2.1 | |
| 21,300 | -₹159 | -₹28.9 | -₹58.2 | -₹0.77 | -₹7.5 | |
| 21,250 | -₹33.8 | -₹5.4 | -₹4.3 | -₹0.49 | ||
| 21,200 | -₹205 | -₹23.1 | -₹49.6 | -₹0.17 | -₹0.1 | -₹5.9 |
| 21,150 | -₹19.4 | -₹3.4 | -₹2.9 | -₹0.24 | ||
| 21,100 | -₹60.3 | -₹10 | -₹15.2 | -₹0.19 | -₹3.4 | |
| 21,050 | -₹14.4 | -₹2.2 | -₹1.7 | -₹0.1 | -₹0.33 | |
| 21,000 | -₹368 | -₹36.8 | -₹109 | -₹4.6 | -₹0.3 | -₹75.7 |
| 20,950 | -₹9 | -₹1 | -₹1.5 | -₹0.11 | -₹0.26 | |
| 20,900 | -₹26.3 | -₹12.5 | -₹7 | -₹0.18 | -₹1.1 | |
| 20,850 | -₹4.5 | -₹1.3 | -₹0.73 | -₹0.07 | ||
| 20,800 | -₹29.5 | -₹5.8 | -₹18.3 | -₹0.17 | -₹8 | |
| 20,750 | -₹5.8 | -₹0.83 | -₹1.2 | |||
| 20,700 | -₹20.6 | -₹3.5 | -₹6.1 | -₹2.2 | ||
| 20,650 | -₹3.5 | -₹0.33 | -₹0.64 | -₹0.08 | ||
| 20,600 | -₹14.1 | -₹4 | -₹11.4 | -₹0.75 | ||
| 20,550 | -₹1.9 | -₹0.57 | -₹1.2 | -₹0.11 | ||
| 20,500 | -₹46.3 | -₹34.2 | -₹39.6 | -₹1.8 | -₹25.8 |
Expiries
| Expiry | Days | Lot size | Call OI | Put OI | PCR | Max pain |
|---|---|---|---|---|---|---|
| Tue 13 Oct 2026 | 5 | 65 | 22,63,22,980 | 13,94,07,450 | 0.62 | 22,400 |
| Mon 19 Oct 2026 | 11 | 65 | 2,31,47,345 | 1,42,45,140 | 0.61 | 22,500 |
| Tue 27 Oct 2026 | 19 | 65 | 7,65,31,000 | 7,10,90,305 | 0.93 | 23,000 |
| Tue 3 Nov 2026 | 26 | 65 | 14,59,965 | 6,08,140 | 0.42 | 22,550 |
| Mon 9 Nov 2026 | 32 | 65 | 85,995 | 20,020 | 0.23 | 22,500 |
| Mon 23 Nov 2026 | 46 | 65 | 1,41,73,315 | 1,26,03,825 | 0.89 | 23,000 |
| Tue 29 Dec 2026 | 82 | 65 | 2,47,19,090 | 2,66,13,840 | 1.08 | 24,000 |
| Tue 30 Mar 2027 | 173 | 65 | 38,31,685 | 39,17,030 | 1.02 | 24,000 |
| Tue 29 Jun 2027 | 264 | 65 | 2,79,070 | 1,68,010 | 0.60 | 24,000 |
| Tue 28 Sep 2027 | 355 | 65 | 910 | 325 | 0.36 | 22,500 |
Wall migration
| Date | Close | Call wall | Put wall | Gamma flip | Max pain | PCR | Call OI chg | Put OI chg |
|---|---|---|---|---|---|---|---|---|
| 8 Oct 2026 | 22,231.8 | 22,500 | 22,000 | 22,144 | 22,400 | 0.73 | +10,86,74,140 | +3,69,46,885 |
| 7 Oct 2026 | 22,603.05 | 22,700 | 22,500 | 22,516 | 22,650 | 0.89 | +7,38,98,820 | +3,32,57,590 |
| 6 Oct 2026 | 22,776.1 | 23,000 | 22,700 | 22,744 | 22,700 | 1.06 | +3,14,14,595 | +4,36,36,190 |
Method
Implied volatility from settlement prices, carry from put-call parity, risk-free rate 5.5%. 1206 contracts used, 0 skipped with no solvable volatility, 0 expiring on the trade date left out. GEX is in ₹ crore per 1% move. Full method and sign convention.
Archive: 3 sessions stored since 6 Oct 2026, free, no account.