# BHARTIARTL gamma exposure, walls and max pain

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

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

BHARTIARTL levels for the session of 9 Oct 2026, from the 8 Oct 2026 close of 1,802.95: call wall 1,840, put wall 1,820, gamma flip 1,742 (the close sat above it), max pain 1,820 for the 27 Oct 2026 expiry, put/call OI ratio 0.63, net GEX ₹128 cr per 1% move.

## Levels for the next session

| Level | Value |
| --- | --- |
| Close | 1,802.95 (8 Oct 2026) |
| Call wall | 1,840 |
| Put wall | 1,820 |
| Gamma flip | 1,742 |
| Net GEX, Dealers long calls, short puts | ₹128 cr per 1% move |
| Net GEX, Option writers short every option | -₹545 cr per 1% move |
| Max pain, 27 Oct 2026 expiry | 1,820 |
| PCR (OI), all expiries | 0.63 |
| PCR (OI), nearest expiry | 0.62 |
| Lot size (nearest expiry) | 475 |

## Expiries

| Expiry | Days | Lot | Call OI | Put OI | PCR | Max pain |
| --- | --- | --- | --- | --- | --- | --- |
| Tue 27 Oct 2026 | 19 | 475 | 2,28,87,875 | 1,42,91,800 | 0.62 | 1,820 |
| Mon 23 Nov 2026 | 46 | 475 | 3,53,400 | 2,49,850 | 0.71 | 1,800 |
| Tue 29 Dec 2026 | 82 | 475 | 3,325 | 0 | 0.00 | 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 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 1,720 | 95,950 | 5,22,025 | +1,900 | -1,75,275 | ₹0.85 cr | -₹4.6 cr | -₹3.8 cr |
| 1,740 | 3,41,525 | 7,52,875 | -9,975 | +44,650 | ₹4.1 cr | -₹8.9 cr | -₹4.8 cr |
| 1,760 | 10,41,200 | 13,94,125 | -12,825 | +7,600 | ₹16.1 cr | -₹21.7 cr | -₹5.6 cr |
| 1,780 | 8,76,375 | 15,03,850 | +38,475 | +1,12,100 | ₹16.4 cr | -₹28.2 cr | -₹11.8 cr |
| 1,800 | 26,31,025 | 21,16,600 | +2,94,500 | -1,63,875 | ₹54.1 cr | -₹42.9 cr | ₹11.3 cr |
| 1,820 | 24,30,575 | 25,65,950 | +3,80,950 | -1,90,000 | ₹48.6 cr | -₹51.3 cr | -₹2.7 cr |
| 1,840 | 57,38,950 | 14,70,125 | +1,54,850 | -73,625 | ₹101 cr | -₹26 cr | ₹75 cr |
| 1,860 | 40,29,425 | 6,27,950 | -20,900 | +39,425 | ₹56.1 cr | -₹8.8 cr | ₹47.4 cr |
| 1,880 | 9,70,900 | 1,74,325 | -1,04,500 | +34,200 | ₹10.1 cr | -₹1.8 cr | ₹8.3 cr |

## Recent sessions

| Date | Close | Call wall | Put wall | Gamma flip | Max pain | PCR |
| --- | --- | --- | --- | --- | --- | --- |
| 8 Oct 2026 | 1,802.95 | 1,840 | 1,820 | 1,742 | 1,820 | 0.63 |
| 7 Oct 2026 | 1,833.86 | 1,840 | 1,820 | 1,754 | 1,820 | 0.68 |
| 6 Oct 2026 | 1,810.49 | 1,800 | 1,820 | 1,754 | 1,800 | 0.78 |

## Method

Implied volatility from settlement prices, carry from put-call parity, risk-free rate 5.5%. 100 contracts used, 1 skipped (no solvable volatility), 0 expiring on the trade date left out. Full method: https://squawkflow.com/india/method