LT 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.
LT levels for the session of 9 Oct 2026, from the 8 Oct 2026 close of 3,623.59: call wall 3,800, put wall 3,800, gamma flip 3,611 (the close sat above it), max pain 3,800 for the 27 Oct 2026 expiry, put/call OI ratio 0.88, net GEX ₹2.1 cr per 1% move.
- Close
- 3,623.59
- 8 Oct 2026
- Call wall
- 3,800
- +4.87%
- Put wall
- 3,800
- +4.87%
- Gamma flip
- 3,611
- Max pain
- 3,800
- Tue 27 Oct 2026 expiry
- PCR (OI)
- 0.88
- nearest 0.89
- Net GEX
- ₹2.1 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 -₹146 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 |
|---|---|---|---|---|---|---|---|
| 3,450 | 0 | 78,050 | 0 | +2,975 | ₹0 cr | -₹1.3 cr | -₹1.3 cr |
| 3,500 | 32,725 | 2,49,900 | +12,075 | +40,950 | ₹0.67 cr | -₹4.9 cr | -₹4.2 cr |
| 3,550 | 12,600 | 1,56,100 | +10,850 | +84,700 | ₹0.3 cr | -₹3.8 cr | -₹3.5 cr |
| 3,600 | 1,00,450 | 3,18,675 | +37,975 | +28,175 | ₹2.7 cr | -₹8.1 cr | -₹5.5 cr |
| 3,650 | 96,950 | 2,26,800 | +57,225 | +83,125 | ₹2.7 cr | -₹6.3 cr | -₹3.6 cr |
| 3,700 | 5,32,875 | 3,62,950 | +49,000 | -55,825 | ₹13.8 cr | -₹9.7 cr | ₹4.2 cr |
| 3,750 | 3,63,475 | 3,13,425 | +16,975 | -11,725 | ₹8.6 cr | -₹7.4 cr | ₹1.2 cr |
| 3,800 | 10,64,875 | 5,34,275 | +33,775 | -14,000 | ₹20.7 cr | -₹10.4 cr | ₹10.3 cr |
Strike by expiry heatmap
| Strike | Tue 27 Oct 2026 | Mon 23 Nov 2026 |
|---|---|---|
| 3,900 | ₹3.3 | ₹0.1 |
| 3,850 | ₹0.66 | |
| 3,800 | ₹10.2 | ₹0.12 |
| 3,750 | ₹1.2 | |
| 3,700 | ₹3.5 | ₹0.64 |
| 3,650 | -₹3.6 | |
| 3,600 | -₹4.9 | -₹0.58 |
| 3,550 | -₹3.5 | |
| 3,500 | -₹4.2 | |
| 3,450 | -₹1.2 | -₹0.06 |
| 3,400 | -₹3.6 | -₹0.05 |
| 3,350 | -₹0.29 |
Expiries
| Expiry | Days | Lot size | Call OI | Put OI | PCR | Max pain |
|---|---|---|---|---|---|---|
| Tue 27 Oct 2026 | 19 | 175 | 53,25,250 | 47,33,225 | 0.89 | 3,800 |
| Mon 23 Nov 2026 | 46 | 175 | 1,29,500 | 72,100 | 0.56 | 3,700 |
| Tue 29 Dec 2026 | 82 | 175 | 1,400 | 12,075 | 8.63 | 3,500 |
Wall migration
| Date | Close | Call wall | Put wall | Gamma flip | Max pain | PCR | Call OI chg | Put OI chg |
|---|---|---|---|---|---|---|---|---|
| 8 Oct 2026 | 3,623.59 | 3,800 | 3,800 | 3,611 | 3,800 | 0.88 | +1,45,250 | +2,19,800 |
| 7 Oct 2026 | 3,701.45 | 3,800 | 3,800 | 3,623 | 3,850 | 0.87 | +7,08,575 | +99,225 |
| 6 Oct 2026 | 3,770.01 | 3,800 | 3,800 | 3,697 | 3,900 | 0.98 | +2,36,600 | +1,03,425 |
Method
Implied volatility from settlement prices, carry from put-call parity, risk-free rate 5.5%. 85 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.