Hedgewall · Daily
The Closing Tape
SENSEX closed 0.04 percent under its gamma flip, in a negative-gamma regime.
All 3 fell below their opening print, 1 of them grinding back through the afternoon, and shut inside ranges no wider than 1.25 percent.
| Max gamma strike 196.95 pts above | 22,800.00 | |
| Call wall 96.95 pts above | 22,700.00 | |
| CLOSE | 22,603.05 | |
| Put wall 3.05 pts below | 22,600.00 | |
| Gamma flip 79.61 pts below | 22,523.44 |
Opened 22,645.95 and spent the day below it, low to 22,559.40, before closing 22,603.05. It finished between the put wall at 22,600 and the call wall at 22,700, 96.95 points under the nearer one above. Hedging dampens from here.
- Regime
- POSITIVE GAMMA
- Net GEX
- +7,439 Cr
- ATM IV
- 11.99%
- Expiry
- 6.00 days to 2026-10-13
| Max gamma strike 1,944.45 pts above | 57,000.00 | |
| Call wall 944.45 pts above | 56,000.00 | |
| CLOSE | 55,055.55 | |
| Put wall 55.55 pts below | 55,000.00 | |
| Gamma flip 452.92 pts below | 54,602.63 |
Opened 54,722.55 and closed 55,055.55, 333.00 points up. It finished between the put wall at 55,000 and the call wall at 56,000, 944.45 points under the nearer one above. Hedging dampens from here.
- Regime
- POSITIVE GAMMA
- Net GEX
- +771 Cr
- ATM IV
- 14.88%
- Expiry
- 20.00 days to 2026-10-27
| Max gamma strike + call wall 361.30 pts above | 73,000.00 | |
| Gamma flip 27.29 pts above | 72,665.99 | |
| CLOSE | 72,638.70 | |
| Put wall 138.70 pts below | 72,500.00 |
Opened 72,667.30 and closed 72,638.70, 28.60 points down. It finished between the put wall at 72,500 and the gamma flip at 72,666, 27.29 points under the nearer one above. Hedging amplifies from here.
- Regime
- NEGATIVE GAMMA
- Net GEX
- −1,096 Cr
- ATM IV
- 15.63%
- Expiry
- 1.00 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 short 4,962 Cr of delta while today’s flow was long 17,400 Cr, 351 percent of it, the other way.
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NIFTY went into the close short 4,962 Cr of delta. Today's flow was long 17,400 Cr. 351 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 128 to 132 samples taken between 09:15 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 7 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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