Hedgewall · Daily
The Closing Tape
BANKNIFTY did the work today, +1.51 percent of it.
2 of the 3 fell below their opening print, ground back through the afternoon, and shut inside ranges no wider than 1.18 percent.
| Call wall 101.90 pts above | 23,500.00 | |
| Zero gamma 52.13 pts above | 23,450.23 | |
| CLOSE | 23,398.10 | |
| Max gamma strike + put wall 98.10 pts below | 23,300.00 |
Opened 23,244.55 and closed 23,398.10, 153.55 points up. It finished between the max gamma strike + put wall at 23,300 and the zero gamma at 23,450, 52.13 points under the nearer one above. Hedging amplifies from here.
- Regime
- NEGATIVE GAMMA
- Net GEX
- −7,36,048 Cr
- ATM IV
- 10.10%
- Expiry
- 3.99 days to 2026-09-15
| Gamma flip 1,794.47 pts above | 58,401.02 | |
| Max gamma strike 1,393.45 pts above | 58,000.00 | |
| Call wall 893.45 pts above | 57,500.00 | |
| CLOSE | 56,606.55 | |
| Zero gamma 244.62 pts below | 56,361.93 | |
| Put wall 606.55 pts below | 56,000.00 |
Opened 55,763.95 and closed 56,606.55, 842.60 points up. It finished between the zero gamma at 56,362 and the call wall at 57,500, 893.45 points under the nearer one above. Hedging dampens from here.
- Regime
- POSITIVE GAMMA
- Net GEX
- +23,056 Cr
- ATM IV
- 12.82%
- Expiry
- 17.99 days to 2026-09-29
| Call wall 218.24 pts above | 75,000.00 | |
| Zero gamma 180.07 pts above | 74,961.83 | |
| CLOSE | 74,781.76 | |
| Put wall 281.76 pts below | 74,500.00 | |
| Max gamma strike 781.76 pts below | 74,000.00 |
Opened 74,165.35 and closed 74,781.76, 616.41 points up. It finished between the put wall at 74,500 and the zero gamma at 74,962, 180.07 points under the nearer one above. Hedging amplifies from here.
- Regime
- NEGATIVE GAMMA
- Net GEX
- −28,734 Cr
- ATM IV
- 12.17%
- Expiry
- 5.99 days to 2026-09-17
Calls to the right in gold, puts to the left in violet, all three on one shared scale. Net is what survives when they cancel.
The first bar is every open contract that exists. The second is only what changed today. Opposite directions mean today pushed against the position rather than adding to it.
Look at the NIFTY pair in Flows. The standing book is short 6,47,367 Cr of delta while today’s flow was long 3,43,752 Cr, 53 percent of it, the other way.
The card posts with it. Long press to save the image, or use the button and X will attach it from the link.
NIFTY went into the close short 6,47,367 Cr of delta. Today's flow was long 3,43,752 Cr. 53 percent of the standing position, pointing the other way.
- Call wall heaviest call open interest above spot
- Put wall heaviest put open interest below spot
- Gamma levels max gamma strike, zero gamma, the flip
- Close where it actually finished
Open, high and low mean the first, highest and lowest of 102 samples about 3.8 minutes apart, not the exchange’s official prints. GEX is normalised to five days and compares across days for one index, never between indices. Volume reads zero at every strike after the close, so no volume figure appears above.
Same time tomorrow.
This is a description, not advice. It reports what the options book measured at the close on 11 September 2026. Nothing in it is a recommendation to buy, sell or hold any security, and Hedgewall is not a registered investment adviser.
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