Options Positioning
NIFTY Gamma Exposure (GEX) Today
See the latest available gamma exposure for NIFTY, Bank Nifty, FinNifty and Sensex. Read the positioning bias, compare the strike concentrations, and check the source time. A useful layer of market context—not a standalone direction signal.
Key +gamma strike
22,500
largest displayed +contribution
Net GEX (scaled)
+13,730
model units ÷ 10 million
PCR (OI)
0.81
mildly call-heavy
IV trend
normal
premium regime
Draconic read
NIFTY 50 shows a stabilizing, range-oriented positioning bias.
Generated from 6 of 176+ Draconic signals · 08 Oct, 15:40 IST · analysis, not advice
GEX across NIFTY, Bank Nifty, FinNifty & Sensex
Swipe the table to compare all columns.
| Index | GEX (scaled) | Regime | Contract | PCR (OI) | IV trend |
|---|---|---|---|---|---|
| NIFTY 50 | +13,730 | Positive gamma | 2026-10-13 | 0.81 | normal |
| Bank Nifty | +511 | Positive gamma | 2026-10-27 | 1.05 | normal |
| FinNifty | +12 | Positive gamma | 2026-10-27 | 0.89 | elevated |
| Sensex | +19,23,846 | Positive gamma | 2026-10-08 | 0.94 | high fear |
NIFTY 50 gamma walls
Signed gamma contributions across 21 supplied strikes around the nearest strike, contract expiry 2026-10-13. Orange is positive; red is negative. These are positioning concentrations, not guaranteed floors or ceilings.
One market. Two different momentum readings.
A positioning number is the start. Draconic compares it with what price is doing across timeframes, so a recovery on one chart does not hide weakness on another.
Recorded NIFTY analysis · 17 September 2026
| Timeframe | MACD histogram |
|---|---|
| 1 hour | +17.76 |
| 15 minutes | −3.99 |
MACD is a momentum indicator. These selected values describe the recorded example, not the current session.
What Draconic picked up
“While the [1h] MACD histogram reflects a multi-session recovery (+17.76 at 09:45 UTC), intraday momentum has rolled over.”
Exact excerpt from a real Draconic answer. The point is the disagreement between timeframes—not a prediction or a trade instruction.
Read the supporting excerpt
“On the [15m] chart, the MACD crossed below its signal line at 08:00 UTC and remains negative (histogram at -3.99 at 09:45 UTC), while [5m] RSI has dropped to 41.99 (15th percentile of the session).”
The full recorded answer also covered price structure, options positioning and conditions for revising the read. Only the selected momentum excerpts are reproduced here. Source times are on 17 September 2026; 09:45 UTC is 15:15 IST.
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How we compute this
Draconic combines option gamma and open interest using its established positioning convention. The total covers the supplied strikes for each selected contract; the chart shows a smaller window around the nearest strike. A local reading can differ from the broader total without either being wrong. A gamma flip is a change of regime, not a direction forecast. The state shown here does not claim that a new crossing has occurred.
Totals are divided by ten million for readability; they are model-scale values, not observed cash hedging flows. Strike bars use signed gamma contributions on their own relative scale. PCR (put-call ratio) describes the balance of outstanding puts and calls; it does not identify who bought or sold. Combine this snapshot with price and momentum using the GEX interpretation guide.
Frequently asked
What is gamma exposure (GEX)?
Gamma measures how an option's sensitivity changes as its underlying price moves. Draconic combines gamma and open interest into a signed positioning measure for the supplied strikes and contract. It is a model of the options environment, not a direct measurement of dealer inventories.
What do positive and negative gamma mean for Nifty?
Draconic interprets positive GEX as a stabilizing, range-oriented positioning bias and negative GEX as a bias toward amplified moves. Neither sign predicts whether NIFTY will rise or fall. Compare it with price behaviour, momentum and the selected contract before drawing a conclusion.
What is a gamma flip?
A change in the sign of total GEX is a regime change. This page shows the current state, not whether a new change just occurred. A boundary between positive and negative strike contributions is a different measure; crossing that strike alone does not establish a change in the whole-chain regime.
Is this live data?
These are derived analytics (GEX, PCR, gamma walls) computed from options data and shown as a timestamped session snapshot — the badge on each page states exactly which session you're viewing — not a streaming live-quote feed.
Is this a buy or sell signal?
No. This page is educational analysis of options positioning — not advice, a recommendation, or a prediction. Levels shown are observed structure. Cross-check before acting.
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Educational analysis only — not investment advice, not a recommendation, and not a prediction. Draconic is not a SEBI-registered investment adviser, research analyst, or broker-dealer. All figures are derived analytics computed from market data and may be delayed or incorrect; levels shown are observed structure, not targets. Do your own research and cross-check before acting — even Draconic can miss.