# Sensex gamma exposure, walls and max pain

Canonical: https://squawkflow.com/india/sensex

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

Sensex levels for the session of 9 Oct 2026, from the 8 Oct 2026 close of 71,593.24: call wall 72,000, put wall 71,500, gamma flip 71,510 (the close sat above it), max pain 72,100 for the 15 Oct 2026 expiry, put/call OI ratio 0.88, net GEX ₹148 cr per 1% move.

## Levels for the next session

| Level | Value |
| --- | --- |
| Close | 71,593.24 (8 Oct 2026) |
| Call wall | 72,000 |
| Put wall | 71,500 |
| Gamma flip | 71,510 |
| Net GEX, Dealers long calls, short puts | ₹148 cr per 1% move |
| Net GEX, Option writers short every option | -₹7,756 cr per 1% move |
| Max pain, 15 Oct 2026 expiry | 72,100 |
| PCR (OI), all expiries | 0.88 |
| PCR (OI), nearest expiry | 0.87 |
| Lot size (nearest expiry) | 20 |

## Expiries

| Expiry | Days | Lot | Call OI | Put OI | PCR | Max pain |
| --- | --- | --- | --- | --- | --- | --- |
| Thu 15 Oct 2026 | 7 | 20 | 53,86,320 | 46,87,500 | 0.87 | 72,100 |
| Thu 22 Oct 2026 | 14 | 20 | 67,240 | 31,100 | 0.46 | 72,000 |
| Thu 29 Oct 2026 | 21 | 20 | 4,66,900 | 5,01,780 | 1.07 | 73,000 |
| Thu 5 Nov 2026 | 28 | 20 | 2,580 | 3,040 | 1.18 | 71,500 |
| Thu 12 Nov 2026 | 35 | 20 | 100 | 40 | 0.40 | 72,000 |
| Thu 19 Nov 2026 | 42 | 20 | 20 | 0 | 0.00 | no open interest yet |
| Thu 26 Nov 2026 | 49 | 20 | 80 | 20 | 0.25 | 72,700 |
| Thu 31 Dec 2026 | 84 | 20 | 0 | 0 | n/a | no open interest yet |
| Thu 25 Mar 2027 | 168 | 20 | 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 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 68,100 | 0 | 120 | 0 | 0 | ₹0 cr | -₹0.03 cr | -₹0.03 cr |
| 68,400 | 0 | 340 | 0 | 0 | ₹0 cr | -₹0.03 cr | -₹0.03 cr |
| 68,500 | 0 | 1,12,120 | 0 | +91,060 | ₹0 cr | -₹29.6 cr | -₹29.6 cr |
| 68,600 | 0 | 9,520 | 0 | +9,520 | ₹0 cr | -₹2.7 cr | -₹2.7 cr |
| 68,700 | 0 | 520 | 0 | -580 | ₹0 cr | -₹0.16 cr | -₹0.16 cr |
| 68,800 | 0 | 140 | 0 | 0 | ₹0 cr | -₹0.02 cr | -₹0.02 cr |
| 69,000 | 17,220 | 2,43,180 | +400 | +1,37,480 | ₹7.3 cr | -₹92.4 cr | -₹85.1 cr |
| 69,100 | 0 | 220 | 0 | 0 | ₹0 cr | -₹0.09 cr | -₹0.09 cr |
| 69,200 | 0 | 3,440 | 0 | +3,440 | ₹0 cr | -₹1.5 cr | -₹1.5 cr |
| 69,300 | 0 | 7,580 | 0 | +7,580 | ₹0 cr | -₹3.6 cr | -₹3.6 cr |
| 69,400 | 0 | 3,480 | 0 | +3,440 | ₹0 cr | -₹1.8 cr | -₹1.8 cr |
| 69,500 | 0 | 2,18,380 | 0 | +1,00,180 | ₹0 cr | -₹119 cr | -₹119 cr |
| 69,600 | 0 | 7,060 | 0 | +6,860 | ₹0 cr | -₹4.1 cr | -₹4.1 cr |
| 69,700 | 0 | 7,520 | 0 | +7,180 | ₹0 cr | -₹4.7 cr | -₹4.7 cr |
| 69,800 | 0 | 9,340 | 0 | +8,860 | ₹0 cr | -₹6.2 cr | -₹6.2 cr |
| 69,900 | 0 | 6,180 | 0 | +5,860 | ₹0 cr | -₹4.4 cr | -₹4.4 cr |
| 70,000 | 6,000 | 3,97,580 | +2,220 | +1,50,920 | ₹4.5 cr | -₹294 cr | -₹290 cr |
| 70,100 | 0 | 18,040 | 0 | +8,860 | ₹0 cr | -₹14.4 cr | -₹14.4 cr |
| 70,200 | 0 | 9,180 | 0 | +5,340 | ₹0 cr | -₹7.7 cr | -₹7.7 cr |
| 70,300 | 0 | 11,680 | 0 | +9,040 | ₹0 cr | -₹10.5 cr | -₹10.5 cr |
| 70,400 | 0 | 33,340 | 0 | +31,620 | ₹0 cr | -₹31.7 cr | -₹31.7 cr |
| 70,500 | 6,900 | 2,10,040 | +6,780 | +52,000 | ₹6.9 cr | -₹206 cr | -₹199 cr |
| 70,600 | 1,660 | 21,540 | +1,580 | +16,120 | ₹1.7 cr | -₹22.5 cr | -₹20.8 cr |
| 70,700 | 1,480 | 17,180 | +1,420 | +12,620 | ₹1.6 cr | -₹18.7 cr | -₹17.1 cr |
| 70,800 | 7,860 | 54,000 | +6,920 | +16,940 | ₹7.7 cr | -₹61.4 cr | -₹53.7 cr |
| 70,900 | 4,720 | 37,720 | +3,380 | +29,880 | ₹5 cr | -₹44 cr | -₹39 cr |
| 71,000 | 49,120 | 2,62,180 | +42,960 | +79,540 | ₹56.4 cr | -₹304 cr | -₹248 cr |
| 71,100 | 3,140 | 26,380 | +3,060 | +18,680 | ₹3.9 cr | -₹31.6 cr | -₹27.7 cr |
| 71,200 | 9,320 | 32,700 | +8,840 | +14,120 | ₹12.1 cr | -₹39.6 cr | -₹27.5 cr |
| 71,300 | 8,980 | 59,520 | +7,680 | +29,540 | ₹11.6 cr | -₹75.6 cr | -₹64 cr |
| 71,400 | 37,060 | 60,500 | +34,840 | +53,040 | ₹49.9 cr | -₹79.7 cr | -₹29.8 cr |
| 71,500 | 2,83,320 | 3,15,020 | +2,67,340 | +2,41,180 | ₹384 cr | -₹427 cr | -₹43.3 cr |
| 71,600 | 1,00,860 | 1,22,220 | +99,160 | +99,400 | ₹136 cr | -₹165 cr | -₹29 cr |
| 71,700 | 1,01,520 | 86,200 | +97,640 | +73,960 | ₹136 cr | -₹115 cr | ₹21.4 cr |
| 71,800 | 1,02,920 | 60,740 | +97,160 | +48,420 | ₹137 cr | -₹80.9 cr | ₹56.4 cr |
| 71,900 | 53,000 | 62,080 | +49,320 | +25,260 | ₹70.5 cr | -₹83.2 cr | -₹12.7 cr |
| 72,000 | 3,58,680 | 2,62,580 | +2,97,640 | +1,18,480 | ₹461 cr | -₹325 cr | ₹136 cr |
| 72,100 | 55,900 | 19,480 | +48,240 | +5,980 | ₹72.3 cr | -₹24.8 cr | ₹47.5 cr |
| 72,200 | 76,700 | 24,380 | +69,660 | +8,260 | ₹96.7 cr | -₹30.1 cr | ₹66.6 cr |
| 72,300 | 88,540 | 30,080 | +79,660 | +16,720 | ₹109 cr | -₹37 cr | ₹71.6 cr |
| 72,400 | 77,040 | 30,900 | +61,280 | +7,120 | ₹92.1 cr | -₹36.1 cr | ₹56 cr |
| 72,500 | 3,68,360 | 2,98,800 | +1,94,340 | +78,300 | ₹417 cr | -₹333 cr | ₹83.2 cr |
| 72,600 | 73,360 | 19,160 | +42,120 | -17,820 | ₹81.5 cr | -₹20.6 cr | ₹61 cr |
| 72,700 | 64,340 | 17,280 | +27,240 | -26,540 | ₹68.6 cr | -₹18.2 cr | ₹50.4 cr |
| 72,800 | 89,260 | 25,480 | +41,440 | -21,240 | ₹90.1 cr | -₹25.6 cr | ₹64.5 cr |
| 72,900 | 77,640 | 17,300 | +53,600 | -2,460 | ₹74.2 cr | -₹16.3 cr | ₹58 cr |
| 73,000 | 4,32,040 | 2,14,880 | +2,57,920 | +78,120 | ₹380 cr | -₹186 cr | ₹194 cr |
| 73,100 | 39,440 | 15,260 | +21,340 | -880 | ₹32.9 cr | -₹12.7 cr | ₹20.2 cr |
| 73,200 | 1,04,880 | 48,640 | +73,720 | +200 | ₹81.8 cr | -₹37.9 cr | ₹43.9 cr |
| 73,300 | 70,960 | 7,760 | +53,600 | -20 | ₹51.2 cr | -₹5.6 cr | ₹45.6 cr |
| 73,400 | 58,840 | 6,540 | +43,940 | -120 | ₹39 cr | -₹4.4 cr | ₹34.6 cr |
| 73,500 | 2,80,840 | 1,37,240 | +1,80,080 | +64,020 | ₹172 cr | -₹84.9 cr | ₹87.6 cr |
| 73,600 | 51,880 | 4,440 | +33,160 | -400 | ₹28.9 cr | -₹2.6 cr | ₹26.3 cr |
| 73,700 | 60,760 | 11,760 | +38,180 | +100 | ₹30.8 cr | -₹6.1 cr | ₹24.7 cr |
| 73,800 | 68,860 | 4,660 | +37,180 | -40 | ₹31.9 cr | -₹2.2 cr | ₹29.6 cr |
| 73,900 | 45,960 | 6,120 | +32,540 | -100 | ₹19.5 cr | -₹3.1 cr | ₹16.4 cr |
| 74,000 | 4,82,280 | 1,74,380 | +2,73,900 | +1,15,500 | ₹192 cr | -₹71.4 cr | ₹120 cr |
| 74,100 | 35,820 | 5,740 | +20,440 | +20 | ₹12.7 cr | -₹2.1 cr | ₹10.5 cr |
| 74,200 | 45,880 | 2,660 | -26,020 | +60 | ₹14.9 cr | -₹1 cr | ₹13.9 cr |
| 74,300 | 39,600 | 1,120 | +28,720 | 0 | ₹11.5 cr | -₹0.5 cr | ₹11 cr |
| 74,400 | 46,580 | 2,320 | +31,340 | -20 | ₹12.7 cr | -₹0.8 cr | ₹11.9 cr |
| 74,500 | 2,70,560 | 17,740 | +1,09,300 | +6,260 | ₹67.7 cr | -₹5.6 cr | ₹62.2 cr |
| 74,600 | 19,080 | 2,620 | +9,120 | 0 | ₹4.5 cr | -₹0.74 cr | ₹3.8 cr |
| 74,700 | 28,720 | 1,880 | +20,540 | +20 | ₹6.2 cr | -₹0.51 cr | ₹5.7 cr |
| 74,800 | 20,240 | 3,160 | -17,260 | 0 | ₹4.5 cr | -₹1 cr | ₹3.5 cr |
| 74,900 | 16,040 | 2,240 | +9,640 | 0 | ₹2.9 cr | -₹0.8 cr | ₹2.1 cr |
| 75,000 | 4,15,440 | 35,200 | +2,15,240 | +8,020 | ₹73.7 cr | -₹8.6 cr | ₹65.1 cr |
| 75,100 | 17,640 | 5,260 | +3,620 | 0 | ₹2.6 cr | -₹1.6 cr | ₹1 cr |

## Recent sessions

| Date | Close | Call wall | Put wall | Gamma flip | Max pain | PCR |
| --- | --- | --- | --- | --- | --- | --- |
| 8 Oct 2026 | 71,593.24 | 72,000 | 71,500 | 71,510 | 72,100 | 0.88 |
| 7 Oct 2026 | 72,638.7 | 73,000 | 72,500 | 72,624 | 72,600 | 0.98 |
| 6 Oct 2026 | 73,067.81 | 73,000 | 72,500 | 73,188 | 72,900 | 1.54 |

## Method

Implied volatility from settlement prices, carry from put-call parity, risk-free rate 5.5%. 447 contracts used, 4 skipped (no solvable volatility), 240 expiring on the trade date left out. Full method: https://squawkflow.com/india/method