PAYTM 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.
PAYTM levels for the session of 9 Oct 2026, from the 8 Oct 2026 close of 1,641.47: call wall 1,700, put wall 1,600, gamma flip 1,620 (the close sat above it), max pain 1,660 for the 27 Oct 2026 expiry, put/call OI ratio 0.81, net GEX ₹5 cr per 1% move.
- Close
- 1,641.47
- 8 Oct 2026
- Call wall
- 1,700
- +3.57%
- Put wall
- 1,600
- -2.53%
- Gamma flip
- 1,620
- Max pain
- 1,660
- Tue 27 Oct 2026 expiry
- PCR (OI)
- 0.81
- nearest 0.81
- 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 -₹113 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 |
|---|---|---|---|---|---|---|---|
| 1,560 | 88,450 | 3,84,250 | +76,850 | +3,03,050 | ₹0.51 cr | -₹2.2 cr | -₹1.7 cr |
| 1,580 | 1,63,125 | 3,70,475 | +1,52,250 | +3,11,025 | ₹1 cr | -₹2.3 cr | -₹1.3 cr |
| 1,600 | 9,31,625 | 22,64,175 | +6,28,575 | +15,92,825 | ₹6 cr | -₹14.9 cr | -₹8.8 cr |
| 1,620 | 3,21,900 | 7,76,475 | +2,45,775 | +2,74,050 | ₹2.2 cr | -₹5.4 cr | -₹3.2 cr |
| 1,640 | 5,29,250 | 5,77,825 | +3,50,900 | +2,48,675 | ₹3.8 cr | -₹4.1 cr | -₹0.36 cr |
| 1,660 | 5,22,725 | 7,89,525 | +2,02,275 | +81,925 | ₹3.7 cr | -₹5.6 cr | -₹1.9 cr |
| 1,680 | 4,00,925 | 2,90,725 | +2,21,125 | +25,375 | ₹2.8 cr | -₹2 cr | ₹0.77 cr |
| 1,700 | 19,15,450 | 5,84,350 | +10,32,400 | -2,48,675 | ₹12.9 cr | -₹3.9 cr | ₹9 cr |
| 1,720 | 2,75,500 | 86,275 | +1,21,800 | -99,325 | ₹1.8 cr | -₹0.55 cr | ₹1.2 cr |
Strike by expiry heatmap
| Strike | Tue 27 Oct 2026 | Mon 23 Nov 2026 |
|---|---|---|
| 1,760 | ₹2.5 | |
| 1,740 | ₹2.2 | |
| 1,720 | ₹1.2 | |
| 1,700 | ₹8.8 | ₹0.16 |
| 1,680 | ₹0.75 | |
| 1,660 | -₹1.9 | |
| 1,640 | -₹0.37 | |
| 1,620 | -₹3.2 | |
| 1,600 | -₹8.9 | ₹0.08 |
| 1,580 | -₹1.3 | |
| 1,560 | -₹1.7 | |
| 1,540 | -₹0.99 | |
| 1,520 | -₹0.52 |
Expiries
| Expiry | Days | Lot size | Call OI | Put OI | PCR | Max pain |
|---|---|---|---|---|---|---|
| Tue 27 Oct 2026 | 19 | 725 | 1,18,03,000 | 95,19,250 | 0.81 | 1,660 |
| Mon 23 Nov 2026 | 46 | 725 | 2,15,325 | 2,53,025 | 1.18 | 1,600 |
| Tue 29 Dec 2026 | 82 | 725 | 15,950 | 725 | 0.04 | 1,600 |
Wall migration
| Date | Close | Call wall | Put wall | Gamma flip | Max pain | PCR | Call OI chg | Put OI chg |
|---|---|---|---|---|---|---|---|---|
| 8 Oct 2026 | 1,641.47 | 1,700 | 1,600 | 1,620 | 1,660 | 0.81 | +37,63,475 | +42,02,825 |
| 7 Oct 2026 | 1,732.05 | 1,800 | 1,700 | 1,617 | 1,700 | 0.67 | -7,06,150 | +5,19,100 |
| 6 Oct 2026 | 1,694.02 | 1,700 | 1,700 | 1,555 | 1,700 | 0.56 | +6,27,125 | +2,36,350 |
Method
Implied volatility from settlement prices, carry from put-call parity, risk-free rate 5.5%. 107 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.