Voltas

Net delta exposure (DEX) measures the total directional bias of all options positions held by dealers for VOLTAS on NSE. It represents the aggregate number of underlying shares (or equivalent contracts) that dealers must hold to remain delta-neutral across the entire options chain. The current net DEX for VOLTAS is −128.5M (net short delta (bearish dealer positioning)). Positive DEX means dealers are net long the underlying; negative DEX means they are net short.

GEX (gamma exposure) measures the rate of change of dealer hedging flows — it tells you how much dealers will buy or sell for each 1% move in VOLTAS. DEX (delta exposure) measures the current absolute directional position of dealers — it tells you the total long or short bias right now. GEX predicts the magnitude of hedging activity; DEX reveals the current directional tilt. Together they give a complete picture of dealer positioning in VOLTAS options.

Strikes with large positive DEX (dealers heavily long delta there) act as support — dealers will buy on dips at those levels to maintain their hedge. Strikes with large negative DEX act as resistance — dealers sell into rallies. A large positive total net DEX suggests overall upward hedging pressure on VOLTAS; a large negative reading suggests downward pressure. This is particularly useful when combined with the GEX and OI walls charts.

VOLTAS net delta exposure is recalculated every 5 minutes during India market hours from live NSE options data. StrikeVue is completely free and requires no login or broker account.