GAIL options
GAIL option chain and implied move
| Metric | Value | Read |
|---|---|---|
| Market-implied move | ±₹3.58 | ±2.18% to the Tuesday, 27 October 2026 expiry, from the at-the-money straddle |
| Implied range | ₹160.38 – ₹167.54 | What option prices imply, not a forecast of where the stock will trade |
| Max pain | ₹170 | The strike at which the largest value of written options would expire worthless |
| Heaviest put strike | ₹160 | 17,53,700 contracts — the largest put position on the chain |
| Heaviest call strike | ₹175 | 39,76,000 contracts — the largest call position on the chain |
| Put-call ratio | 0.84 | Total put open interest divided by total call open interest across the chain |
| Implied volatility (ATM) | 24.90% | At-the-money implied volatility for the front expiry |
- Market-implied move
- ±₹3.58
- Implied range
- ₹160 – ₹168
- Max pain
- ₹170
- Implied volatility
- 24.90%
±2.18% over 4 days, from the ₹165 straddle
What option prices imply, not a forecast of where the stock will trade
₹6 above the close
At the money, for the front expiry
Implied rangeMax painLast close
Heaviest put ₹160Heaviest call ₹175ATM ₹165 · PCR 0.84
At the close on Friday, 23 October 2026, GAIL options were pricing a move of ±₹3.58 by the Tuesday, 27 October 2026 expiry — a range of ₹160.38 to ₹167.54 against a closing price of ₹163.96. The figure is the at-the-money straddle at the ₹165 strike, which is what the options market itself is charging for the move to expiry. It describes the price of that expectation, not a forecast MarketCue makes.
Max pain sits at ₹170, ₹6.04 above the closing price — the strike at which the largest value of written options would expire worthless. The heaviest put position on the chain is at ₹160 with 17,53,700 contracts, and the heaviest call position at ₹175 with 39,76,000 contracts. Open interest describes where positions have been built; it is not a commitment by anyone to defend a price.
At-the-money implied volatility was 24.90% for the Tuesday, 27 October 2026 expiry. Realised volatility for GAIL is not yet available for comparison.
This page is a record of where GAIL's chain finished on Friday, 23 October 2026, not a live feed — the next reading follows tomorrow's close. Figures are derived from the NSE option chain via Upstox; max pain, the implied move, put-call ratio and the volatility comparison are MarketCue's own calculations from that data. MarketCue is not a registered investment adviser, research analyst or broker under SEBI regulations, and nothing here is a recommendation to buy or sell any security.
Read the full MarketCue scoring methodology
Source: NSE option chain via Upstox. .
Frequently asked questions
- What move are GAIL options pricing this expiry?
- ±₹3.58, or 2.18%, giving a range of ₹160.38 to ₹167.54 by Tuesday, 27 October 2026. The figure is derived from the at-the-money straddle at the ₹165 strike.
- What is GAIL's max pain?
- ₹170 at the last close, against a closing price of ₹163.96. Max pain is the strike at which the largest value of written options would expire worthless.
- Where is support and resistance in the GAIL option chain?
- The largest put position sits at ₹160 with 17,53,700 contracts, and the largest call position at ₹175 with 39,76,000 contracts. Traders commonly read heavy open interest at a strike as a level, though open interest describes positioning rather than any commitment to defend a price.
- What is the lot size for GAIL options?
- 3,550 shares per lot, with strikes in steps of ₹3. At the implied move of ±₹3.58, one lot corresponds to ±₹12,709 of notional movement.