Hedgewall · Daily
The Closing Tape
SENSEX closed 0.03 percent over its gamma flip, in a positive-gamma regime.
2 of the 3 fell below their opening print, stayed under it into the close, and shut inside ranges no wider than 1.30 percent.
| Max gamma strike 279.55 pts above | 22,900.00 | |
| Call wall 79.55 pts above | 22,700.00 | |
| CLOSE | 22,620.45 | |
| Gamma flip 113.15 pts below | 22,507.30 | |
| Put wall 120.45 pts below | 22,500.00 |
Opened 22,673.75 and closed 22,620.45, 53.30 points down. It finished between the gamma flip at 22,507 and the call wall at 22,700, 79.55 points under the nearer one above. Hedging dampens from here.
- Regime
- POSITIVE GAMMA
- Net GEX
- +10,074 Cr
- ATM IV
- 11.94%
- Expiry
- 6.00 days to 2026-10-06
| Max gamma strike + call wall 1,366.95 pts above | 56,000.00 | |
| CLOSE | 54,633.05 | |
| Gamma flip 622.91 pts below | 54,010.14 | |
| Put wall 633.05 pts below | 54,000.00 |
Opened 54,405.80 and closed 54,633.05, 227.25 points up. It finished between the gamma flip at 54,010 and the max gamma strike + call wall at 56,000, 1,366.95 points under the nearer one above. Hedging dampens from here.
- Regime
- POSITIVE GAMMA
- Net GEX
- +552 Cr
- ATM IV
- 14.73%
- Expiry
- 27.00 days to 2026-10-27
| Max gamma strike + call wall 519.71 pts above | 73,000.00 | |
| CLOSE | 72,480.29 | |
| Gamma flip 19.82 pts below | 72,460.47 | |
| Put wall 480.29 pts below | 72,000.00 |
Opened 72,538.29 and closed 72,480.29, 58.00 points down. It finished between the gamma flip at 72,460 and the max gamma strike + call wall at 73,000, 519.71 points under the nearer one above. Hedging dampens from here.
- Regime
- POSITIVE GAMMA
- Net GEX
- +631 Cr
- ATM IV
- 16.94%
- Expiry
- 1.00 days to 2026-10-01
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 8,575 Cr of delta while today’s flow was long 18,160 Cr, 212 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 8,575 Cr of delta. Today's flow was long 18,160 Cr. 212 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 155 to 162 samples taken between 09:16 and 15:40 IST, not the exchange’s official prints, and the close is the last price we sampled rather than the settlement price. 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 30 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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