Hedgewall · Daily
The Closing Tape
SENSEX sat on 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 1.14 percent.
| Max gamma strike + call wall 312.35 pts above | 23,000.00 | |
| CLOSE | 22,687.65 | |
| Gamma flip 42.04 pts below | 22,645.61 | |
| Put wall 87.65 pts below | 22,600.00 |
Opened 22,597.50 and closed 22,687.65, 90.15 points up. It finished between the gamma flip at 22,646 and the max gamma strike + call wall at 23,000, 312.35 points under the nearer one above. Hedging dampens from here.
- Regime
- POSITIVE GAMMA
- Net GEX
- +4,315 Cr
- ATM IV
- 14.52%
- Expiry
- 5.00 days to 2026-10-27
| Max gamma strike 1,074.30 pts above | 56,000.00 | |
| Call wall 74.30 pts above | 55,000.00 | |
| CLOSE | 54,925.70 | |
| Gamma flip 124.77 pts below | 54,800.93 | |
| Put wall 425.70 pts below | 54,500.00 |
Opened 54,515.50 and closed 54,925.70, 410.20 points up. It finished between the gamma flip at 54,801 and the call wall at 55,000, 74.30 points under the nearer one above. Hedging dampens from here.
- Regime
- POSITIVE GAMMA
- Net GEX
- +583 Cr
- ATM IV
- 15.73%
- Expiry
- 5.00 days to 2026-10-27
| Call wall 50.61 pts above | 73,300.00 | |
| Gamma flip 0.48 pts above | 73,249.87 | |
| CLOSE | 73,249.39 | |
| Max gamma strike + put wall 49.39 pts below | 73,200.00 |
Opened 73,112.51 and closed 73,249.39, 136.88 points up. It finished between the max gamma strike + put wall at 73,200 and the gamma flip at 73,250, 0.48 points under the nearer one above. Hedging amplifies from here.
- Regime
- NEGATIVE GAMMA
- Net GEX
- −200 Cr
- ATM IV
- 2.62%
- 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 short 24,475 Cr of delta while today’s flow was long 6,205 Cr, 25 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 short 24,475 Cr of delta. Today's flow was long 6,205 Cr. 25 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 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 22 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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