# ICICIBANK gamma exposure, walls and max pain

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

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

ICICIBANK levels for the session of 9 Oct 2026, from the 8 Oct 2026 close of 1,350.74: call wall 1,340, put wall 1,350, gamma flip 1,269 (the close sat above it), max pain 1,340 for the 27 Oct 2026 expiry, put/call OI ratio 0.69, net GEX ₹99.7 cr per 1% move.

## Levels for the next session

| Level | Value |
| --- | --- |
| Close | 1,350.74 (8 Oct 2026) |
| Call wall | 1,340 |
| Put wall | 1,350 |
| Gamma flip | 1,269 |
| Net GEX, Dealers long calls, short puts | ₹99.7 cr per 1% move |
| Net GEX, Option writers short every option | -₹382 cr per 1% move |
| Max pain, 27 Oct 2026 expiry | 1,340 |
| PCR (OI), all expiries | 0.69 |
| PCR (OI), nearest expiry | 0.68 |
| Lot size (nearest expiry) | 700 |

## Expiries

| Expiry | Days | Lot | Call OI | Put OI | PCR | Max pain |
| --- | --- | --- | --- | --- | --- | --- |
| Tue 27 Oct 2026 | 19 | 700 | 2,71,46,000 | 1,85,47,900 | 0.68 | 1,340 |
| Mon 23 Nov 2026 | 46 | 700 | 5,73,300 | 5,44,600 | 0.95 | 1,320 |
| Tue 29 Dec 2026 | 82 | 700 | 16,100 | 17,500 | 1.09 | 1,400 |

## 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 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 1,290 | 2,18,400 | 3,71,700 | -25,900 | -42,700 | ₹1.5 cr | -₹2.5 cr | -₹1 cr |
| 1,300 | 17,94,100 | 22,26,700 | -63,700 | -1,98,100 | ₹13.6 cr | -₹16.6 cr | -₹3 cr |
| 1,310 | 8,50,500 | 8,93,200 | -49,700 | -64,400 | ₹7.3 cr | -₹7.6 cr | -₹0.34 cr |
| 1,320 | 9,64,600 | 13,91,600 | -1,12,000 | -47,600 | ₹9 cr | -₹13 cr | -₹4 cr |
| 1,330 | 6,02,700 | 9,45,700 | -66,500 | -1,04,300 | ₹6.1 cr | -₹9.6 cr | -₹3.5 cr |
| 1,340 | 43,12,000 | 13,81,100 | -83,300 | -1,06,400 | ₹46.5 cr | -₹14.9 cr | ₹31.6 cr |
| 1,350 | 27,21,600 | 18,41,000 | +1,94,600 | +23,100 | ₹29.9 cr | -₹20.3 cr | ₹9.6 cr |
| 1,360 | 26,03,300 | 9,96,800 | +44,800 | +1,02,200 | ₹28.7 cr | -₹11 cr | ₹17.7 cr |
| 1,370 | 17,41,600 | 2,66,000 | -16,800 | +40,600 | ₹18.9 cr | -₹2.9 cr | ₹16 cr |
| 1,380 | 10,87,800 | 3,81,500 | +1,42,100 | -30,100 | ₹11.3 cr | -₹4 cr | ₹7.3 cr |
| 1,390 | 12,41,800 | 1,82,700 | -10,500 | +12,600 | ₹12.1 cr | -₹1.8 cr | ₹10.3 cr |
| 1,400 | 33,36,200 | 14,14,700 | +2,53,400 | -2,800 | ₹28.7 cr | -₹12.3 cr | ₹16.4 cr |
| 1,410 | 3,22,000 | 15,400 | +60,200 | 0 | ₹2.5 cr | -₹0.12 cr | ₹2.4 cr |

## Recent sessions

| Date | Close | Call wall | Put wall | Gamma flip | Max pain | PCR |
| --- | --- | --- | --- | --- | --- | --- |
| 8 Oct 2026 | 1,350.74 | 1,340 | 1,350 | 1,269 | 1,340 | 0.69 |
| 7 Oct 2026 | 1,357.5 | 1,340 | 1,350 | 1,274 | 1,340 | 0.72 |
| 6 Oct 2026 | 1,342.8 | 1,340 | 1,300 | 1,269 | 1,340 | 0.71 |

## Method

Implied volatility from settlement prices, carry from put-call parity, risk-free rate 5.5%. 134 contracts used, 2 skipped (no solvable volatility), 0 expiring on the trade date left out. Full method: https://squawkflow.com/india/method