Hedgewall · Daily
The Closing Tape
SENSEX closed 0.02 percent under its gamma flip, in a negative-gamma regime.
All 3 fell below their opening print in the morning, 2 of them grinding back through the afternoon, and shut inside ranges no wider than 1.35 percent.
| Max gamma strike 144.25 pts above | 22,700.00 | |
| Call wall 44.25 pts above | 22,600.00 | |
| CLOSE | 22,555.75 | |
| Gamma flip 25.55 pts below | 22,530.20 | |
| Put wall 55.75 pts below | 22,500.00 |
Opened 22,542.10 and spent the day below it, low to 22,401.85, before closing 22,555.75. It finished between the gamma flip at 22,530 and the call wall at 22,600, 44.25 points under the nearer one above. Hedging dampens from here.
- Regime
- POSITIVE GAMMA
- Net GEX
- +3,769 Cr
- ATM IV
- 16.92%
- Expiry
- 1.00 days to 2026-10-06
| Max gamma strike + call wall 1,285.90 pts above | 56,000.00 | |
| CLOSE | 54,714.10 | |
| Gamma flip 514.72 pts below | 54,199.38 | |
| Put wall 714.10 pts below | 54,000.00 |
Opened 55,111.30 and spent the day below it, low to 54,399.60, before closing 54,714.10. It finished between the gamma flip at 54,199 and the max gamma strike + call wall at 56,000, 1,285.90 points under the nearer one above. Hedging dampens from here.
- Regime
- POSITIVE GAMMA
- Net GEX
- +482 Cr
- ATM IV
- 16.13%
- Expiry
- 22.00 days to 2026-10-27
| Max gamma strike 617.53 pts above | 73,000.00 | |
| Call wall 117.53 pts above | 72,500.00 | |
| Gamma flip 14.61 pts above | 72,397.08 | |
| CLOSE | 72,382.47 | |
| Put wall 382.47 pts below | 72,000.00 |
Opened 72,358.11 and spent the day below it, low to 71,892.36, before closing 72,382.47. It finished between the put wall at 72,000 and the gamma flip at 72,397, 14.61 points under the nearer one above. Hedging amplifies from here.
- Regime
- NEGATIVE GAMMA
- Net GEX
- −107 Cr
- ATM IV
- 17.00%
- Expiry
- 3.00 days to 2026-10-08
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 long 218 Cr of delta while today’s flow was short 15,487 Cr, 7102 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 long 218 Cr of delta. Today's flow was short 15,487 Cr. 7102 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 157 to 162 samples taken between 09:16 and 15:39 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 5 October 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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