# RELIANCE gamma exposure, walls and max pain

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

Source: NSE end-of-day data, 7 Oct 2026. End of day, not live. Not investment advice.

RELIANCE levels for the session of 8 Oct 2026, from the 7 Oct 2026 close of 1,207.69: call wall 1,250, put wall 1,200, gamma flip 1,174 (the close sat above it), max pain 1,230 for the 27 Oct 2026 expiry, put/call OI ratio 0.74, net GEX ₹120 cr per 1% move.

## Levels for the next session

| Level | Value |
| --- | --- |
| Close | 1,207.69 (7 Oct 2026) |
| Call wall | 1,250 |
| Put wall | 1,200 |
| Gamma flip | 1,174 |
| Net GEX, Dealers long calls, short puts | ₹120 cr per 1% move |
| Net GEX, Option writers short every option | -₹796 cr per 1% move |
| Max pain, 27 Oct 2026 expiry | 1,230 |
| PCR (OI), all expiries | 0.74 |
| PCR (OI), nearest expiry | 0.77 |
| Lot size (nearest expiry) | 500 |

## Expiries

| Expiry | Days | Lot | Call OI | Put OI | PCR | Max pain |
| --- | --- | --- | --- | --- | --- | --- |
| Tue 27 Oct 2026 | 20 | 500 | 7,34,43,000 | 5,61,94,000 | 0.77 | 1,230 |
| Mon 23 Nov 2026 | 47 | 500 | 67,88,000 | 33,21,500 | 0.49 | 1,230 |
| Tue 29 Dec 2026 | 83 | 500 | 5,43,000 | 98,500 | 0.18 | 1,200 |

## 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 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 1,150 | 6,36,500 | 40,24,500 | -24,500 | +18,39,500 | ₹3.5 cr | -₹22.2 cr | -₹18.7 cr |
| 1,160 | 7,11,000 | 74,64,000 | +1,08,000 | +57,46,000 | ₹4.6 cr | -₹48.4 cr | -₹43.8 cr |
| 1,170 | 5,82,000 | 22,66,500 | -87,500 | +1,63,500 | ₹4.3 cr | -₹16.6 cr | -₹12.3 cr |
| 1,180 | 12,47,000 | 20,50,500 | -50,500 | +1,21,500 | ₹9.9 cr | -₹16.4 cr | -₹6.5 cr |
| 1,190 | 10,53,000 | 17,80,500 | +26,000 | +2,69,500 | ₹9 cr | -₹15.1 cr | -₹6.1 cr |
| 1,200 | 82,93,000 | 62,03,500 | +3,55,000 | -70,000 | ₹70.8 cr | -₹52.9 cr | ₹17.8 cr |
| 1,210 | 22,22,000 | 20,45,000 | +4,12,000 | +1,09,000 | ₹19.7 cr | -₹18.3 cr | ₹1.4 cr |
| 1,220 | 40,33,000 | 26,26,500 | +4,41,000 | +81,000 | ₹35 cr | -₹22.9 cr | ₹12.2 cr |
| 1,230 | 26,22,500 | 22,30,500 | +3,70,500 | -30,000 | ₹22 cr | -₹18.8 cr | ₹3.2 cr |
| 1,240 | 48,57,000 | 23,30,500 | +13,68,500 | +1,45,500 | ₹37.8 cr | -₹18.2 cr | ₹19.6 cr |
| 1,250 | 1,24,86,500 | 31,85,000 | +58,11,500 | +61,500 | ₹89.2 cr | -₹23 cr | ₹66.2 cr |
| 1,260 | 41,45,000 | 15,77,000 | +6,18,000 | +14,500 | ₹27.2 cr | -₹10.4 cr | ₹16.9 cr |

## Recent sessions

| Date | Close | Call wall | Put wall | Gamma flip | Max pain | PCR |
| --- | --- | --- | --- | --- | --- | --- |
| 7 Oct 2026 | 1,207.69 | 1,250 | 1,200 | 1,174 | 1,230 | 0.74 |
| 6 Oct 2026 | 1,218 | 1,200 | 1,200 | 1,162 | 1,230 | 0.71 |

## Method

Implied volatility from settlement prices, carry from put-call parity, risk-free rate 5.5%. 169 contracts used, 0 skipped (no solvable volatility), 0 expiring on the trade date left out. Full method: https://squawkflow.com/india/method