DIXON 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.
DIXON levels for the session of 9 Oct 2026, from the 8 Oct 2026 close of 12,650.19: call wall 13,000, put wall 13,000, gamma flip 12,458 (the close sat above it), max pain 13,000 for the 27 Oct 2026 expiry, put/call OI ratio 0.71, net GEX ₹5 cr per 1% move.
- Close
- 12,650.19
- 8 Oct 2026
- Call wall
- 13,000
- +2.77%
- Put wall
- 13,000
- +2.77%
- Gamma flip
- 12,458
- Max pain
- 13,000
- Tue 27 Oct 2026 expiry
- PCR (OI)
- 0.71
- nearest 0.71
- Net GEX
- ₹5 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 -₹85.4 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 |
|---|---|---|---|---|---|---|---|
| 12,250 | 3,400 | 94,450 | +1,000 | -200 | ₹0.19 cr | -₹5.2 cr | -₹5 cr |
| 12,500 | 21,900 | 1,04,800 | +5,550 | +1,600 | ₹1.3 cr | -₹6.3 cr | -₹5 cr |
| 12,750 | 49,450 | 51,750 | +15,300 | +11,000 | ₹3.1 cr | -₹3.2 cr | -₹0.14 cr |
| 13,000 | 2,26,600 | 1,38,900 | +23,600 | -17,000 | ₹13.3 cr | -₹8.2 cr | ₹5.2 cr |
| 13,250 | 73,850 | 48,200 | +3,800 | -1,500 | ₹4 cr | -₹2.6 cr | ₹1.4 cr |
Strike by expiry heatmap
| Strike | Tue 27 Oct 2026 | Mon 23 Nov 2026 |
|---|---|---|
| 13,500 | ₹6.3 | ₹0.11 |
| 13,250 | ₹1.4 | |
| 13,000 | ₹5 | ₹0.2 |
| 12,750 | -₹0.14 | |
| 12,500 | -₹4.9 | |
| 12,250 | -₹5 | |
| 12,000 | -₹4.1 | -₹0.14 |
| 11,750 | -₹1.6 |
Expiries
| Expiry | Days | Lot size | Call OI | Put OI | PCR | Max pain |
|---|---|---|---|---|---|---|
| Tue 27 Oct 2026 | 19 | 50 | 11,73,200 | 8,31,700 | 0.71 | 13,000 |
| Mon 23 Nov 2026 | 46 | 50 | 13,650 | 15,000 | 1.10 | 13,000 |
| Tue 29 Dec 2026 | 82 | 50 | 100 | 650 | 6.50 | 13,000 |
Wall migration
| Date | Close | Call wall | Put wall | Gamma flip | Max pain | PCR | Call OI chg | Put OI chg |
|---|---|---|---|---|---|---|---|---|
| 8 Oct 2026 | 12,650.19 | 13,000 | 13,000 | 12,458 | 13,000 | 0.71 | +84,150 | -10,950 |
| 7 Oct 2026 | 13,023.59 | 13,000 | 13,000 | 12,740 | 13,000 | 0.78 | +46,750 | +27,250 |
| 6 Oct 2026 | 13,014.93 | 13,000 | 13,000 | 12,687 | 13,000 | 0.79 | -18,250 | +36,700 |
Method
Implied volatility from settlement prices, carry from put-call parity, risk-free rate 5.5%. 67 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.