HCLTECH gamma exposure, walls and max pain for 12 Oct 2026

Source: NSE end-of-day data, 9 Oct 2026. End of day, not live. Not investment advice.

HCLTECH levels for the session of 12 Oct 2026, from the 9 Oct 2026 close of 1,216.69: call wall 1,220, put wall 1,200, gamma flip 1,177 (the close sat above it), max pain 1,220 for the 27 Oct 2026 expiry, put/call OI ratio 0.80, net GEX ₹7.3 cr per 1% move.

Close: 1,216.69; 9 Oct 2026
Call wall: 1,220; +0.27%
Put wall: 1,200; -1.37%
Gamma flip: 1,177
Max pain: 1,220; Tue 27 Oct 2026 expiry
PCR (OI): 0.80; nearest 0.81
Net GEX: ₹7.3 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 -₹67.4 cr per 1% move and there is no gamma flip. Why both are shown.

Gamma exposure by strike

Put GEXStrikeCall GEXNet

1,260₹1.2 cr

1,250₹2 cr

1,240₹0.89 cr

1,230₹0.11 cr

1,220₹2.8 cr

1,210₹0.15 cr

1,200-₹0.03 cr

1,190-₹0.39 cr

1,180-₹0.65 cr

1,170-₹0.38 cr

Open interest and OI change by strike

Open interest and its change in units, summed over all listed expiries; GEX in ₹ crore per 1% move from expiries within 60 days. Strikes within 5% of the close.
Strike	Call OI	Put OI	Call OI chg	Put OI chg	Call GEX	Put GEX	Net GEX
1,160	1,25,200	3,10,400	+28,400	+1,41,200	₹0.64 cr	-₹1.6 cr	-₹0.95 cr
1,170	1,44,800	2,15,200	-29,200	+60,800	₹0.79 cr	-₹1.2 cr	-₹0.38 cr
1,180	1,37,200	2,50,400	-62,400	+71,200	₹0.79 cr	-₹1.4 cr	-₹0.65 cr
1,190	1,90,000	2,56,000	+4,000	+56,800	₹1.1 cr	-₹1.5 cr	-₹0.39 cr
1,200	7,05,200	7,06,000	-79,200	+2,80,000	₹4.2 cr	-₹4.2 cr	-₹0.03 cr
1,210	2,68,400	2,45,200	+18,000	+1,22,000	₹1.7 cr	-₹1.5 cr	₹0.15 cr
1,220	8,19,600	3,62,000	+1,61,200	+1,71,200	₹5.1 cr	-₹2.3 cr	₹2.8 cr
1,230	3,83,600	3,66,000	+16,800	+9,600	₹2.4 cr	-₹2.3 cr	₹0.11 cr
1,240	5,11,200	3,64,000	+25,600	+21,600	₹3.1 cr	-₹2.2 cr	₹0.89 cr
1,250	7,36,400	3,95,200	-11,600	+400	₹4.3 cr	-₹2.3 cr	₹2 cr
1,260	4,49,600	2,43,200	+58,000	+4,400	₹2.5 cr	-₹1.4 cr	₹1.2 cr
1,270	2,03,200	66,400	-1,41,600	-400	₹1.1 cr	-₹0.35 cr	₹0.72 cr

Strike by expiry heatmap

Net GEX (dealers long calls) by strike and expiry, ₹ crore per 1% move. Green adds positive gamma, red negative.
Strike	Tue 27 Oct 2026	Mon 23 Nov 2026
1,310	₹0.14
1,300	₹2.2	₹0.14
1,290	₹0.26
1,280	₹1.1
1,270	₹0.72
1,260	₹1.2
1,250	₹2
1,240	₹0.87
1,230	₹0.11
1,220	₹2.8
1,210	₹0.15
1,200	-₹0.1	₹0.07
1,190	-₹0.39
1,180	-₹0.65
1,170	-₹0.38
1,160	-₹0.95
1,150	-₹0.57
1,140	-₹0.75
1,130	-₹0.46
1,120	-₹0.49

Expiries

Lot sizes as printed on each contract row of the exchange file.
Expiry	Days	Lot size	Call OI	Put OI	PCR	Max pain
Tue 27 Oct 2026	18	400	82,22,800	66,44,800	0.81	1,220
Mon 23 Nov 2026	45	400	1,76,800	85,200	0.48	1,200
Tue 29 Dec 2026	81	400	1,600	2,400	1.50	1,200

Wall migration

Date	Close	Call wall	Put wall	Gamma flip	Max pain	PCR	Call OI chg	Put OI chg
9 Oct 2026	1,216.69	1,220	1,200	1,177	1,220	0.80	+2,40,400	+11,66,400
8 Oct 2026	1,177.03	1,200	1,200	1,138	1,220	0.68	-2,22,400	-4,800
7 Oct 2026	1,185	1,200	1,200	1,142	1,220	0.67	+12,38,000	+9,200
6 Oct 2026	1,204.39	1,250	1,200	1,179	1,230	0.78	+1,79,200	+7,23,200

Method

Implied volatility from settlement prices, carry from put-call parity, risk-free rate 5.5%. 120 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: 4 sessions stored since 6 Oct 2026, free, no account.

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