Hedgewall · Daily
The Closing Tape
NIFTY closed 0.02 percent over its gamma flip, in a positive-gamma regime.
All 3 fell below their opening print, stayed under it into the close, and shut inside ranges no wider than 1.44 percent.
| Max gamma strike + call wall 11.05 pts above | 22,900.00 | |
| CLOSE | 22,888.95 | |
| Gamma flip 3.74 pts below | 22,885.21 | |
| Put wall 38.95 pts below | 22,850.00 |
Opened 23,112.10 and spent the day below it, low to 22,847.65, before closing 22,888.95. It finished between the gamma flip at 22,885 and the max gamma strike + call wall at 22,900, 11.05 points under the nearer one above. Hedging dampens from here.
- Regime
- POSITIVE GAMMA
- Net GEX
- +4,648 Cr
- ATM IV
- 3.26%
- Expiry
- expired today
| Max gamma strike + call wall 511.90 pts above | 56,000.00 | |
| CLOSE | 55,488.10 | |
| Gamma flip 331.92 pts below | 55,156.18 | |
| Put wall 488.10 pts below | 55,000.00 |
Opened 55,617.70 and spent the day below it, low to 55,359.85, before closing 55,488.10. It finished between the gamma flip at 55,156 and the max gamma strike + call wall at 56,000, 511.90 points under the nearer one above. Hedging dampens from here.
- Regime
- POSITIVE GAMMA
- Net GEX
- +1,178 Cr
- ATM IV
- 14.20%
- Expiry
- 8.00 days to 2026-10-27
| Max gamma strike 1,147.10 pts above | 75,000.00 | |
| Call wall 147.10 pts above | 74,000.00 | |
| CLOSE | 73,852.90 | |
| Gamma flip 217.80 pts below | 73,635.10 | |
| Put wall 852.90 pts below | 73,000.00 |
Opened 74,536.41 and spent the day below it, low to 73,711.08, before closing 73,852.90. It finished between the gamma flip at 73,635 and the call wall at 74,000, 147.10 points under the nearer one above. Hedging dampens from here.
- Regime
- POSITIVE GAMMA
- Net GEX
- +4,376 Cr
- ATM IV
- 14.12%
- Expiry
- 3.00 days to 2026-10-22
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 90 Cr of delta while today’s flow was long 2,269 Cr, 2533 percent of it, in the same direction.
The card posts with it. Long press to save the image, or use the button and X will attach it from the link.
NIFTY carried +4,648 Cr of net gamma. Per one percent move, normalised to five days.
- 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 634 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 19 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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