ITC 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.
ITC levels for the session of 9 Oct 2026, from the 8 Oct 2026 close of 254.71: call wall 260, put wall 255, gamma flip 243 (the close sat above it), max pain 260 for the 27 Oct 2026 expiry, put/call OI ratio 0.53, net GEX ₹65.8 cr per 1% move.
- Close
- 254.71
- 8 Oct 2026
- Call wall
- 260
- +2.08%
- Put wall
- 255
- +0.11%
- Gamma flip
- 243
- Max pain
- 260
- Tue 27 Oct 2026 expiry
- PCR (OI)
- 0.53
- nearest 0.54
- Net GEX
- ₹65.8 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 -₹231 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 |
|---|---|---|---|---|---|---|---|
| 242.5 | 0 | 7,38,300 | 0 | +1,38,000 | ₹0 cr | -₹0.85 cr | -₹0.85 cr |
| 245 | 46,575 | 20,21,700 | +3,450 | +3,17,400 | ₹0.06 cr | -₹2.7 cr | -₹2.6 cr |
| 247.5 | 2,19,075 | 3,57,075 | +1,32,825 | +2,03,550 | ₹0.36 cr | -₹0.59 cr | -₹0.23 cr |
| 250 | 14,64,525 | 66,01,575 | +6,62,400 | +23,37,375 | ₹2.6 cr | -₹12.1 cr | -₹9.4 cr |
| 252.5 | 6,45,150 | 19,69,950 | +4,39,875 | +12,74,775 | ₹1.3 cr | -₹4.1 cr | -₹2.7 cr |
| 255 | 50,83,575 | 77,33,175 | +40,20,975 | +23,27,025 | ₹11 cr | -₹16.6 cr | -₹5.6 cr |
| 257.5 | 41,40,000 | 25,78,875 | +36,58,725 | +15,61,125 | ₹9.1 cr | -₹5.7 cr | ₹3.4 cr |
| 260 | 2,08,39,725 | 59,28,825 | +1,59,45,900 | +7,77,975 | ₹44.1 cr | -₹12.5 cr | ₹31.6 cr |
| 262.5 | 28,18,650 | 15,76,650 | +15,73,200 | -17,250 | ₹5.3 cr | -₹3 cr | ₹2.3 cr |
| 265 | 1,47,14,250 | 51,83,625 | +52,31,925 | -50,025 | ₹23.9 cr | -₹8.4 cr | ₹15.4 cr |
Strike by expiry heatmap
| Strike | Tue 27 Oct 2026 | Mon 23 Nov 2026 |
|---|---|---|
| 275 | ₹4 | ₹0.18 |
| 272.5 | ₹1.2 | |
| 270 | ₹17.1 | ₹0.84 |
| 267.5 | ₹7.4 | |
| 265 | ₹15 | ₹0.47 |
| 262.5 | ₹2.3 | |
| 260 | ₹31 | ₹0.59 |
| 257.5 | ₹3.4 | |
| 255 | -₹5.4 | -₹0.19 |
| 252.5 | -₹2.7 | |
| 250 | -₹9.2 | -₹0.22 |
| 247.5 | -₹0.22 | |
| 245 | -₹2.2 | -₹0.38 |
| 242.5 | -₹0.85 | |
| 240 | -₹2.9 | -₹0.14 |
| 237.5 | ||
| 235 | -₹0.32 |
Expiries
| Expiry | Days | Lot size | Call OI | Put OI | PCR | Max pain |
|---|---|---|---|---|---|---|
| Tue 27 Oct 2026 | 19 | 1725 | 10,71,51,825 | 5,73,20,025 | 0.54 | 260 |
| Mon 23 Nov 2026 | 46 | 1725 | 53,18,175 | 20,37,225 | 0.38 | 260 |
| Tue 29 Dec 2026 | 82 | 1725 | 4,43,325 | 13,800 | 0.03 | 260 |
Wall migration
| Date | Close | Call wall | Put wall | Gamma flip | Max pain | PCR | Call OI chg | Put OI chg |
|---|---|---|---|---|---|---|---|---|
| 8 Oct 2026 | 254.71 | 260 | 255 | 243 | 260 | 0.53 | +4,25,38,500 | +87,87,150 |
| 7 Oct 2026 | 265.69 | 270 | 270 | 254 | 267.5 | 0.72 | +69,00,000 | -19,07,850 |
| 6 Oct 2026 | 266.7 | 270 | 270 | 257 | 267.5 | 0.83 | +31,15,350 | -19,78,575 |
Method
Implied volatility from settlement prices, carry from put-call parity, risk-free rate 5.5%. 121 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.