AXISBANK 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.
AXISBANK levels for the session of 9 Oct 2026, from the 8 Oct 2026 close of 1,245.48: call wall 1,260, put wall 1,220, gamma flip 1,145 (the close sat above it), max pain 1,220 for the 27 Oct 2026 expiry, put/call OI ratio 0.57, net GEX ₹96 cr per 1% move.
- Close
- 1,245.48
- 8 Oct 2026
- Call wall
- 1,260
- +1.17%
- Put wall
- 1,220
- -2.05%
- Gamma flip
- 1,145
- Max pain
- 1,220
- Tue 27 Oct 2026 expiry
- PCR (OI)
- 0.57
- nearest 0.57
- Net GEX
- ₹96 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 -₹260 cr per 1% move and there is no gamma flip. Why both are shown.
Gamma exposure by strike
Open interest and OI change by strike
| Strike | Call OI | Put OI | Call OI chg | Put OI chg | Call GEX | Put GEX | Net GEX |
|---|---|---|---|---|---|---|---|
| 1,190 | 13,125 | 1,95,000 | 0 | +43,750 | ₹0.08 cr | -₹1.1 cr | -₹1.1 cr |
| 1,200 | 17,68,750 | 17,51,250 | -35,625 | +28,750 | ₹11.6 cr | -₹11.1 cr | ₹0.49 cr |
| 1,210 | 1,38,125 | 2,62,500 | -4,375 | +81,250 | ₹0.99 cr | -₹1.9 cr | -₹0.89 cr |
| 1,220 | 25,92,500 | 17,49,375 | -49,375 | -1,52,500 | ₹19.9 cr | -₹13.4 cr | ₹6.6 cr |
| 1,230 | 6,98,125 | 8,60,625 | +1,875 | +15,000 | ₹5.6 cr | -₹7 cr | -₹1.3 cr |
| 1,240 | 21,22,500 | 10,93,125 | -56,250 | +7,500 | ₹18.2 cr | -₹9.3 cr | ₹8.9 cr |
| 1,250 | 29,46,875 | 5,17,500 | +19,11,250 | +99,375 | ₹26.1 cr | -₹4.6 cr | ₹21.5 cr |
| 1,260 | 42,29,375 | 8,76,250 | +13,72,500 | +1,36,250 | ₹37.3 cr | -₹7.7 cr | ₹29.6 cr |
| 1,270 | 10,05,625 | 1,43,125 | +36,250 | +19,375 | ₹8.7 cr | -₹1.2 cr | ₹7.5 cr |
| 1,280 | 22,23,125 | 2,16,250 | +2,500 | +10,625 | ₹18.1 cr | -₹1.8 cr | ₹16.4 cr |
| 1,290 | 8,32,500 | 60,625 | +50,000 | +13,750 | ₹6.3 cr | -₹0.46 cr | ₹5.9 cr |
| 1,300 | 11,77,500 | 10,21,875 | +1,02,500 | +31,875 | ₹8 cr | -₹7.1 cr | ₹0.94 cr |
Strike by expiry heatmap
| Strike | Tue 27 Oct 2026 | Mon 23 Nov 2026 |
|---|---|---|
| 1,340 | ₹1.3 | |
| 1,330 | ₹1.6 | |
| 1,320 | ₹2.8 | ₹0.32 |
| 1,310 | ₹2 | |
| 1,300 | ₹0.63 | ₹0.31 |
| 1,290 | ₹5.8 | |
| 1,280 | ₹16 | ₹0.34 |
| 1,270 | ₹7.5 | |
| 1,260 | ₹29.6 | |
| 1,250 | ₹21.5 | |
| 1,240 | ₹9 | -₹0.09 |
| 1,230 | -₹1.3 | |
| 1,220 | ₹6.6 | |
| 1,210 | -₹0.89 | |
| 1,200 | ₹0.88 | -₹0.4 |
| 1,190 | -₹1.1 | |
| 1,180 | -₹3.4 | |
| 1,170 | -₹0.89 | |
| 1,160 | -₹1.1 | -₹0.08 |
| 1,150 | -₹0.68 |
Expiries
| Expiry | Days | Lot size | Call OI | Put OI | PCR | Max pain |
|---|---|---|---|---|---|---|
| Tue 27 Oct 2026 | 19 | 625 | 2,40,88,125 | 1,36,70,000 | 0.57 | 1,220 |
| Mon 23 Nov 2026 | 46 | 625 | 2,26,250 | 2,68,125 | 1.19 | 1,240 |
| Tue 29 Dec 2026 | 82 | 625 | 18,750 | 53,125 | 2.83 | 1,240 |
Wall migration
| Date | Close | Call wall | Put wall | Gamma flip | Max pain | PCR | Call OI chg | Put OI chg |
|---|---|---|---|---|---|---|---|---|
| 8 Oct 2026 | 1,245.48 | 1,260 | 1,220 | 1,145 | 1,220 | 0.57 | +34,61,250 | +4,99,375 |
| 7 Oct 2026 | 1,242.5 | 1,260 | 1,220 | 1,152 | 1,220 | 0.65 | +20,95,000 | +5,69,375 |
| 6 Oct 2026 | 1,248 | 1,260 | 1,220 | 1,158 | 1,220 | 0.69 | +26,64,375 | +10,18,750 |
Method
Implied volatility from settlement prices, carry from put-call parity, risk-free rate 5.5%. 113 contracts used, 1 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.