TCS 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.
TCS levels for the session of 9 Oct 2026, from the 8 Oct 2026 close of 2,075.98: call wall 2,100, put wall 2,100, gamma flip 1,960 (the close sat above it), max pain 2,100 for the 27 Oct 2026 expiry, put/call OI ratio 0.60, net GEX ₹68 cr per 1% move.
- Close
- 2,075.98
- 8 Oct 2026
- Call wall
- 2,100
- +1.16%
- Put wall
- 2,100
- +1.16%
- Gamma flip
- 1,960
- Max pain
- 2,100
- Tue 27 Oct 2026 expiry
- PCR (OI)
- 0.60
- nearest 0.61
- Net GEX
- ₹68 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 -₹280 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 |
|---|---|---|---|---|---|---|---|
| 1,980 | 1,54,575 | 3,18,825 | +2,025 | +1,40,625 | ₹1.4 cr | -₹2.8 cr | -₹1.5 cr |
| 2,000 | 4,11,750 | 13,36,500 | +24,300 | +4,02,975 | ₹4 cr | -₹12.6 cr | -₹8.7 cr |
| 2,020 | 1,24,875 | 3,69,000 | +11,475 | +2,10,150 | ₹1.3 cr | -₹3.9 cr | -₹2.6 cr |
| 2,040 | 3,41,100 | 7,68,600 | +55,575 | +3,27,825 | ₹3.7 cr | -₹8.4 cr | -₹4.7 cr |
| 2,060 | 7,64,100 | 9,84,600 | +1,40,175 | +3,18,600 | ₹8.7 cr | -₹11.2 cr | -₹2.5 cr |
| 2,080 | 17,30,250 | 10,04,625 | +3,44,250 | +3,00,375 | ₹19.9 cr | -₹11.6 cr | ₹8.3 cr |
| 2,100 | 32,69,700 | 16,59,825 | +3,37,725 | +1,94,850 | ₹36.9 cr | -₹18.7 cr | ₹18.2 cr |
| 2,120 | 7,64,325 | 4,86,000 | +1,94,850 | +50,850 | ₹8.3 cr | -₹5.3 cr | ₹2.9 cr |
| 2,140 | 9,59,175 | 2,76,300 | +3,52,575 | +41,400 | ₹10.1 cr | -₹2.9 cr | ₹7.2 cr |
| 2,160 | 6,17,175 | 2,13,075 | +1,48,950 | +5,625 | ₹6.1 cr | -₹2.1 cr | ₹4 cr |
Strike by expiry heatmap
| Strike | Tue 27 Oct 2026 | Mon 23 Nov 2026 |
|---|---|---|
| 2,240 | ₹2.7 | |
| 2,220 | ₹2.5 | |
| 2,200 | ₹22.5 | ₹1.1 |
| 2,180 | ₹4.3 | |
| 2,160 | ₹4 | |
| 2,140 | ₹7.2 | |
| 2,120 | ₹2.6 | ₹0.31 |
| 2,100 | ₹18.2 | |
| 2,080 | ₹8.2 | ₹0.13 |
| 2,060 | -₹2.5 | |
| 2,040 | -₹4.7 | |
| 2,020 | -₹2.6 | |
| 2,000 | -₹8.2 | -₹0.5 |
| 1,980 | -₹1.4 | |
| 1,960 | -₹2.5 | -₹0.06 |
| 1,940 | -₹1.9 | |
| 1,920 | -₹2 | -₹0.15 |
Expiries
| Expiry | Days | Lot size | Call OI | Put OI | PCR | Max pain |
|---|---|---|---|---|---|---|
| Tue 27 Oct 2026 | 19 | 225 | 2,27,10,600 | 1,37,90,925 | 0.61 | 2,100 |
| Mon 23 Nov 2026 | 46 | 225 | 8,05,500 | 3,66,525 | 0.46 | 2,100 |
| Tue 29 Dec 2026 | 82 | 225 | 7,200 | 21,150 | 2.94 | 2,080 |
Wall migration
| Date | Close | Call wall | Put wall | Gamma flip | Max pain | PCR | Call OI chg | Put OI chg |
|---|---|---|---|---|---|---|---|---|
| 8 Oct 2026 | 2,075.98 | 2,100 | 2,100 | 1,960 | 2,100 | 0.60 | +78,24,375 | +35,65,125 |
| 7 Oct 2026 | 2,080.32 | 2,100 | 2,100 | 1,925 | 2,100 | 0.68 | +15,03,000 | +5,88,600 |
| 6 Oct 2026 | 2,099.99 | 2,100 | 2,100 | 1,931 | 2,100 | 0.71 | +15,51,375 | +1,51,425 |
Method
Implied volatility from settlement prices, carry from put-call parity, risk-free rate 5.5%. 156 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.