SENSEX expiry analysis: last 5 expiries to 22 Oct 2026

Five expiries, ten at-the-money legs, one table. Across these 5 SENSEX expiries 1 of 10 legs doubled at some point in the last 30 minutes, 10 lost half, and 3 ended at or above their 15:00 price. Each date links to its full recap with the chart.

The at-the-money legs, expiry by expiry

Strike nearest the index at 15:00; premiums sampled every ten seconds from the NSE chain; 'first book flip' is the first minute Gamma Terrain's pin-book read changed the thinning side (NIFTY only).

How to read five expiries at once

Look down the 'End vs 15:00' column before anything else. One leg of every pair settles worthless by construction, so the question is never whether a leg dies, it is whether the survivor multiplied enough to pay for the one that died, and how often the survivor itself gave its high back before 15:30. The 'High' column with its time shows where the peak sat inside the half hour: a peak at 15:26 and a close near it is a settle walk that kept moving; a peak at 15:20 and a close at a fraction of it is a covering spike that reversed.

The flip column is the terrain's own tell. Across 45 sessions a pin-book flip has not been a direction call; it marks the side whose resting orders are leaving, which is where a vacuum can form.