Hedgewall · Daily
The Closing Tape
NIFTY closed 0.05 percent under its gamma flip, in a negative-gamma regime.
All 3 fell below their opening print in the morning, ground back through the afternoon, and shut inside ranges no wider than 1.25 percent.
| Call wall 179.55 pts above | 22,700.00 | |
| Gamma flip 11.58 pts above | 22,532.03 | |
| CLOSE | 22,520.45 | |
| Put wall 20.45 pts below | 22,500.00 | |
| Max gamma strike 120.45 pts below | 22,400.00 |
Opened 22,327.00 and closed 22,520.45, 193.45 points up. It finished between the put wall at 22,500 and the gamma flip at 22,532, 11.58 points under the nearer one above. Hedging amplifies from here.
- Regime
- NEGATIVE GAMMA
- Net GEX
- −2,011 Cr
- ATM IV
- 11.05%
- Expiry
- 4.00 days to 2026-10-13
| Max gamma strike + call wall 743.35 pts above | 56,000.00 | |
| CLOSE | 55,256.65 | |
| Put wall 256.65 pts below | 55,000.00 | |
| Gamma flip 601.97 pts below | 54,654.68 |
Opened 54,826.65 and closed 55,256.65, 430.00 points up. It finished between the put wall at 55,000 and the max gamma strike + call wall at 56,000, 743.35 points under the nearer one above. Hedging dampens from here.
- Regime
- POSITIVE GAMMA
- Net GEX
- +1,084 Cr
- ATM IV
- 14.64%
- Expiry
- 18.00 days to 2026-10-27
| Gamma flip 471.32 pts above | 72,943.65 | |
| Call wall 27.67 pts above | 72,500.00 | |
| CLOSE | 72,472.33 | |
| Max gamma strike + put wall 472.33 pts below | 72,000.00 |
Opened 72,005.04 and closed 72,472.33, 467.29 points up. It finished between the max gamma strike + put wall at 72,000 and the call wall at 72,500, 27.67 points under the nearer one above. Hedging amplifies from here.
- Regime
- NEGATIVE GAMMA
- Net GEX
- −3,378 Cr
- ATM IV
- 13.02%
- Expiry
- 6.00 days to 2026-10-15
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 BANKNIFTY pair in Flows. The standing book is long 1,794 Cr of delta while today’s flow was short 4,235 Cr, 236 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.
BANKNIFTY went into the close long 1,794 Cr of delta. Today's flow was short 4,235 Cr. 236 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 116 to 119 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 9 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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