Options Positioning
NIFTY Gamma Exposure (GEX) Today
The dealer-gamma regime for NIFTY, Bank Nifty, FinNifty and Sensex — whether options hedging is dampening or amplifying moves right now, where the gamma walls sit, and what it means. Read for you, not just the raw number.
Key gamma wall
24,400
resistance / pin
Net GEX (₹ Cr)
+33,828
net dealer gamma
PCR (OI)
0.81
mildly call-heavy
IV trend
low complacency
premium regime
Draconic read
NIFTY 50 is in a positive gamma regime — dealers are leaning against moves.
Generated from 6 of 176+ Draconic signals · 03 Jul, 15:31 IST · analysis, not advice
GEX across NIFTY, Bank Nifty, FinNifty & Sensex
| Index | Net GEX (₹Cr) | Regime | Flip | PCR (OI) | IV trend |
|---|---|---|---|---|---|
| NIFTY 50 | +33,828 | Positive gamma | no | 0.81 | low complacency |
| Bank Nifty | +1,344 | Positive gamma | no | 0.84 | normal |
| FinNifty | +13 | Positive gamma | no | 0.57 | elevated |
| Sensex | +6,555 | Positive gamma | no | 0.80 | low complacency |
NIFTY 50 gamma walls
Net dealer gamma by strike — positive (orange) strikes dampen/pin price; negative (red) strikes are where moves accelerate. The 9 highest-OI strikes, weekly expiry 2026-07-07.
How we compute this
Gamma exposure aggregates the gamma of open options positions, weighted by open interest and the dealer’s likely hedging side. We sum net gamma across strikes for the index-level figure; the gamma flip is where that aggregate crosses zero. Positive totals mean dealer hedging leans against moves (dampening); negative totals mean it leans with them (amplifying).
Per strike we show net dealer gamma and classify walls: heavy positive-gamma strikes above spot tend to act as resistance or pins; heavy negative-gamma strikes are where moves accelerate. PCR (put-call ratio) on open interest frames directional positioning; IV trend frames how rich premiums are. This is the same options-positioning layer Draconic reads alongside 176+ other signals — surfaced here for free.
Frequently asked
What is gamma exposure (GEX)?
Gamma exposure is the aggregate sensitivity of options dealers' hedges to a move in the underlying. When dealers are net long gamma (positive GEX) their hedging leans against price — buying dips, selling rallies — which dampens moves. When net short gamma (negative GEX), they hedge with the move and amplify it.
What do positive and negative gamma mean for Nifty?
Positive-gamma regimes are historically associated with range-bound, mean-reverting sessions because dealer hedging absorbs moves. Negative-gamma regimes are associated with trending, higher-volatility sessions because hedging accelerates moves. This is context, not a signal.
What is a gamma flip?
The gamma flip is the price where aggregate dealer gamma crosses from positive to negative. Above it the tape tends to be dampened; below it, amplified. A triggered flip means the regime is fragile.
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.