# SBIN gamma exposure, walls and max pain

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

Source: NSE end-of-day data, 8 Oct 2026. End of day, not live. Not investment advice.

SBIN levels for the session of 9 Oct 2026, from the 8 Oct 2026 close of 940.17: call wall 960, put wall 940, gamma flip 919 (the close sat above it), max pain 980 for the 27 Oct 2026 expiry, put/call OI ratio 0.76, net GEX ₹39.5 cr per 1% move.

## Levels for the next session

| Level | Value |
| --- | --- |
| Close | 940.17 (8 Oct 2026) |
| Call wall | 960 |
| Put wall | 940 |
| Gamma flip | 919 |
| Net GEX, Dealers long calls, short puts | ₹39.5 cr per 1% move |
| Net GEX, Option writers short every option | -₹356 cr per 1% move |
| Max pain, 27 Oct 2026 expiry | 980 |
| PCR (OI), all expiries | 0.76 |
| PCR (OI), nearest expiry | 0.77 |
| Lot size (nearest expiry) | 750 |

## Expiries

| Expiry | Days | Lot | Call OI | Put OI | PCR | Max pain |
| --- | --- | --- | --- | --- | --- | --- |
| Tue 27 Oct 2026 | 19 | 750 | 4,67,39,250 | 3,59,23,500 | 0.77 | 980 |
| Mon 23 Nov 2026 | 46 | 750 | 18,99,000 | 9,84,000 | 0.52 | 960 |
| Tue 29 Dec 2026 | 82 | 750 | 34,500 | 6,000 | 0.17 | 960 |

## 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 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 900 | 3,61,500 | 19,97,250 | +42,750 | +1,40,250 | ₹1.7 cr | -₹9.2 cr | -₹7.5 cr |
| 910 | 1,29,000 | 6,66,750 | +68,250 | +87,000 | ₹0.73 cr | -₹3.8 cr | -₹3 cr |
| 920 | 4,71,750 | 13,71,750 | +1,60,500 | -12,750 | ₹3.1 cr | -₹8.9 cr | -₹5.8 cr |
| 930 | 5,73,000 | 11,81,250 | +1,83,000 | +78,000 | ₹4.2 cr | -₹8.6 cr | -₹4.4 cr |
| 940 | 11,67,000 | 29,04,750 | +5,83,500 | +2,63,250 | ₹8.8 cr | -₹21.9 cr | -₹13.1 cr |
| 950 | 31,29,000 | 23,32,500 | +11,91,000 | +21,750 | ₹23.9 cr | -₹17.8 cr | ₹6.1 cr |
| 960 | 47,66,250 | 24,96,750 | +7,23,750 | -1,23,750 | ₹34.6 cr | -₹18.1 cr | ₹16.5 cr |
| 970 | 43,74,750 | 24,19,500 | +43,500 | -48,750 | ₹29.4 cr | -₹16.3 cr | ₹13.1 cr |
| 980 | 38,49,750 | 21,24,000 | +2,05,500 | -15,000 | ₹22.1 cr | -₹12.2 cr | ₹9.9 cr |

## Recent sessions

| Date | Close | Call wall | Put wall | Gamma flip | Max pain | PCR |
| --- | --- | --- | --- | --- | --- | --- |
| 8 Oct 2026 | 940.17 | 960 | 940 | 919 | 980 | 0.76 |
| 7 Oct 2026 | 954 | 1,000 | 960 | 933 | 990 | 0.80 |
| 6 Oct 2026 | 958.73 | 1,000 | 1,000 | 939 | 990 | 0.84 |

## Method

Implied volatility from settlement prices, carry from put-call parity, risk-free rate 5.5%. 130 contracts used, 1 skipped (no solvable volatility), 0 expiring on the trade date left out. Full method: https://squawkflow.com/india/method