Hedgewall · Daily
The Closing Tape
SENSEX closed 0.05 percent over its gamma flip, in a positive-gamma regime.
1 of the 3 fell below their opening print in the morning, ground back through the afternoon, and shut inside ranges no wider than 1.91 percent.
| Gamma flip 54.76 pts above | 23,052.11 | |
| Call wall 2.65 pts above | 23,000.00 | |
| CLOSE | 22,997.35 | |
| Put wall 97.35 pts below | 22,900.00 | |
| Max gamma strike 297.35 pts below | 22,700.00 |
Opened 22,700.55 and closed 22,997.35, 296.80 points up. It finished between the put wall at 22,900 and the call wall at 23,000, 2.65 points under the nearer one above. Hedging amplifies from here.
- Regime
- NEGATIVE GAMMA
- Net GEX
- −7,153 Cr
- ATM IV
- 11.78%
- Expiry
- 4.00 days to 2026-10-19
| Max gamma strike + call wall 189.50 pts above | 56,000.00 | |
| CLOSE | 55,810.50 | |
| Gamma flip 574.46 pts below | 55,236.04 | |
| Put wall 810.50 pts below | 55,000.00 |
Opened 55,304.05 and closed 55,810.50, 506.45 points up. It finished between the gamma flip at 55,236 and the max gamma strike + call wall at 56,000, 189.50 points under the nearer one above. Hedging dampens from here.
- Regime
- POSITIVE GAMMA
- Net GEX
- +1,359 Cr
- ATM IV
- 14.29%
- Expiry
- 12.00 days to 2026-10-27
| Call wall 84.39 pts above | 74,400.00 | |
| CLOSE | 74,315.61 | |
| Max gamma strike + put wall 15.61 pts below | 74,300.00 | |
| Gamma flip 37.58 pts below | 74,278.03 |
Opened 72,925.13 and closed 74,315.61, 1,390.48 points up. It finished between the max gamma strike + put wall at 74,300 and the call wall at 74,400, 84.39 points under the nearer one above. Hedging dampens from here.
- Regime
- POSITIVE GAMMA
- Net GEX
- +3,419 Cr
- ATM IV
- 4.68%
- Expiry
- expired today
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 5,171 Cr of delta while today’s flow was short 87,459 Cr, 1691 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 5,171 Cr of delta. Today's flow was short 87,459 Cr. 1691 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 633 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 15 October 2026. Nothing in it is a recommendation to buy, sell or hold any security, and Hedgewall is not a registered investment adviser.
Unsubscribe from the daily briefOne tap. Every email carries the same button, and that one takes effect with no sign-in at all.
HEDGEWALL
connect@hedgewall.in