POLYCAB 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.
POLYCAB levels for the session of 9 Oct 2026, from the 8 Oct 2026 close of 8,151: call wall 8,200, put wall 7,800, gamma flip 8,267 (the close sat below it), max pain 8,300 for the 27 Oct 2026 expiry, put/call OI ratio 1.11, net GEX -₹4.4 cr per 1% move.
- Close
- 8,151
- 8 Oct 2026
- Call wall
- 8,200
- +0.60%
- Put wall
- 7,800
- -4.31%
- Gamma flip
- 8,267
- Max pain
- 8,300
- Tue 27 Oct 2026 expiry
- PCR (OI)
- 1.11
- nearest 1.12
- Net GEX
- -₹4.4 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 -₹75.3 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 |
|---|---|---|---|---|---|---|---|
| 7,800 | 10,875 | 2,41,625 | -1,125 | -5,875 | ₹0.37 cr | -₹8.3 cr | -₹7.9 cr |
| 7,900 | 2,250 | 47,125 | +125 | -9,375 | ₹0.09 cr | -₹1.8 cr | -₹1.7 cr |
| 8,000 | 24,375 | 1,89,000 | -2,500 | -16,125 | ₹1 cr | -₹7.9 cr | -₹6.8 cr |
| 8,100 | 46,500 | 74,000 | -4,125 | -9,750 | ₹2.1 cr | -₹3.3 cr | -₹1.2 cr |
| 8,200 | 1,55,625 | 1,25,125 | +4,000 | -5,250 | ₹7.1 cr | -₹5.7 cr | ₹1.4 cr |
| 8,300 | 89,875 | 72,375 | +14,875 | +1,125 | ₹4.1 cr | -₹3.3 cr | ₹0.79 cr |
| 8,400 | 1,19,375 | 79,250 | +18,500 | +2,000 | ₹5.1 cr | -₹3.4 cr | ₹1.7 cr |
| 8,500 | 1,59,250 | 41,875 | +9,625 | -250 | ₹6.5 cr | -₹1.7 cr | ₹4.8 cr |
Strike by expiry heatmap
| Strike | Tue 27 Oct 2026 | Mon 23 Nov 2026 |
|---|---|---|
| 8,800 | ₹2.2 | ₹0.33 |
| 8,700 | ₹1.1 | |
| 8,600 | ₹1.4 | |
| 8,500 | ₹4.7 | ₹0.07 |
| 8,400 | ₹1.7 | ₹0.05 |
| 8,300 | ₹0.78 | |
| 8,200 | ₹1.5 | -₹0.09 |
| 8,100 | -₹1.2 | |
| 8,000 | -₹6.7 | -₹0.17 |
| 7,900 | -₹1.7 | |
| 7,800 | -₹7.9 | |
| 7,700 | -₹0.66 | |
| 7,600 | -₹0.4 | |
| 7,500 | -₹1.3 |
Expiries
| Expiry | Days | Lot size | Call OI | Put OI | PCR | Max pain |
|---|---|---|---|---|---|---|
| Tue 27 Oct 2026 | 19 | 125 | 9,61,625 | 10,76,375 | 1.12 | 8,300 |
| Mon 23 Nov 2026 | 46 | 125 | 26,875 | 20,625 | 0.77 | 8,400 |
| Tue 29 Dec 2026 | 82 | 125 | 0 | 125 | n/a | no open interest yet |
Wall migration
| Date | Close | Call wall | Put wall | Gamma flip | Max pain | PCR | Call OI chg | Put OI chg |
|---|---|---|---|---|---|---|---|---|
| 8 Oct 2026 | 8,151 | 8,200 | 7,800 | 8,267 | 8,300 | 1.11 | +84,625 | -36,125 |
| 7 Oct 2026 | 8,309.99 | 8,500 | 8,000 | 8,392 | 8,200 | 1.25 | +65,250 | +1,64,125 |
| 6 Oct 2026 | 8,146.9 | 8,200 | 7,800 | 8,306 | 8,200 | 1.16 | +55,125 | +45,875 |
Method
Implied volatility from settlement prices, carry from put-call parity, risk-free rate 5.5%. 93 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.