{"schema_version":1,"publisher":"Half on a Double","data_through":"2026-10-02","frequency":"end-of-day","methodology":"market-implied-carry-v1","generation":"market-implied-carry-analytics-20260917T000000Z","canonical_url":"https://halfonadouble.com/stock/VOO","markdown_url":"https://halfonadouble.com/stock/VOO.md","history_url":"https://halfonadouble.com/api/v1/history/VOO.csv","advanced_analysis_url":"https://halfonadouble.com/api/v1/analysis/VOO.json?date=2026-10-02","definitions_url":"https://halfonadouble.com/methodology.md","license_url":"https://halfonadouble.com/terms.md","disclaimer_url":"https://halfonadouble.com/disclaimer.md","symbol":"VOO","page_tier":"A","units":{"prices":"USD per share","open_interest":"option contracts","gamma_exposure":"modeled dollar-delta change per USD 1 underlying move","gamma_exposure_normalized":"modeled gamma exposure per 100,000 open option contracts","distances":"percent of close","forward_outcomes":"close-to-close percent return"},"snapshot":{"close":707.5399780273438,"previous_close":702.3499755859375,"delta_neutral":666.466782373024,"gamma_neutral":694.903543824131,"gamma_max":729.0258593550595,"total_open_interest":110410,"previous_open_interest":116730,"listed_contracts":1531,"listed_calls":929,"listed_puts":793,"gamma_max_distance_pct":3.036702093868884,"delta_neutral_distance_pct":-5.8050706574678435,"gamma_neutral_distance_pct":-1.7859675206542716,"open_interest_change_1d_pct":-5.4142037179816676,"call_open_interest":62131,"put_open_interest":48279,"put_call_open_interest_ratio":0.7770517133154142,"nearest_expiration_max_pain":705,"nearest_expiration_max_pain_expiry":"2026-10-09","nearest_expiration_max_pain_distance_pct":-0.3589872100832145,"all_expiration_max_pain":650,"net_gamma_exposure":9467894.01519839,"net_gamma_exposure_per_100k_open_interest":8575214.215377584,"gamma_exposure_flip":694.903543824131,"gamma_exposure_flip_distance_pct":-1.7859675206542716,"call_wall":710,"call_wall_distance_pct":0.3476866394906635,"put_wall":700,"put_wall_distance_pct":-1.0656610596570923,"gamma_max_cross_direction":null,"delta_neutral_cross_direction":null,"open_interest_rank":601},"history_summary":{"first_date":"2020-12-01","last_date":"2026-10-02","session_count":1393,"trailing_window_sessions":252,"sessions_above_gamma_max_pct":5.158730158730158,"gamma_max_cross_count":12,"delta_neutral_cross_count":2,"gamma_max_prior_sessions_closer_pct":82.14285714285714,"gamma_max_prior_comparison_sessions":252,"delta_neutral_prior_sessions_closer_pct":30.555555555555557,"delta_neutral_prior_comparison_sessions":252,"open_interest_percentile_1y":96.42857142857143,"open_interest_change_1d_contracts":-6320,"open_interest_change_z_252":-1.0632529988724273,"open_interest_change_z_comparison_sessions":252,"open_interest_change_5_sessions_pct":7.698160323065217,"open_interest_change_21_sessions_pct":1.3372738703844778,"call_put_open_interest_changes":{"one_session":{"call_change_contracts":-4627,"put_change_contracts":-1693,"call_growth_pct":-6.9310045238023905,"put_growth_pct":-3.387897222444569,"call_minus_put_growth_pp":-3.5431073013578214},"five_sessions":{"call_change_contracts":5517,"put_change_contracts":2375,"call_growth_pct":9.744939414279154,"put_growth_pct":5.173841059602649,"call_minus_put_growth_pp":4.571098354676504},"call_change_surprise":{"z_score":-1.341046749229206,"comparison_sessions":252},"put_change_surprise":{"z_score":-0.6302835560655836,"comparison_sessions":252},"call_minus_put_growth_surprise":{"z_score":-1.0114506905759655,"comparison_sessions":252}}},"advanced_options":{"data_through":"2026-10-02","analysis_coverage":1,"catalyst_score":46.21840171563661,"directional_score":-16.929133858267715,"catalyst_reasons":["front IV premium -0.5 pp"],"features":{"symbol":"VOO","price":707.54,"totalOi":117676,"analysisCoverage":1,"avgIvPct":44.9,"ivRank":52.2,"iv52wHighPct":65.3,"iv52wLowPct":22.6,"frontDte":7,"frontAtmIvPct":14.0087,"backAtmIvPct":14.4925,"termPremiumPp":-0.4838,"expectedMoveFrontPct":1.94,"straddleFrontPct":1.11,"straddle30dPct":2.75,"riskReversalFrontPp":2.55,"riskReversal30dPp":4.23,"butterflyFrontPp":5.88,"butterfly30dPp":1.38,"putCallOiRatio":0.757,"putCallOiFrontRatio":0.984,"putCallVolumeFrontRatio":0.287,"optionVolume":8084,"volumeOiRatio":0.068697,"netDeltaNormalized":0.21834,"dealerDeltaNormalized":-0.212375,"gexPer100kOi":113712513.205751,"vannaPer100kOi":2046.296611,"charmPer100kOi":-1289895.135797,"weekendDeltaShiftPer100kOi":-3869685.40739,"ivSurfaceRangePp":84.6,"gammaFlipDistancePct":0.234616,"maxPainDistancePct":-6.719055,"peakCallDistancePct":0.347684,"peakPutDistancePct":-35.692682},"complete_analysis_url":"https://halfonadouble.com/api/v1/analysis/VOO.json?date=2026-10-02","interpretation":"Catalyst intensity ranks unusual option pricing and activity; it does not identify the event, predict direction or recommend a trade. Directional score summarizes relative positioning under documented model conventions."},"gamma_max_cross_outcomes":[{"direction":"above","event_count":17,"completed_path_count":17,"latest_cross_date":"2026-09-02","horizons":[{"sessions":1,"sample_size":17,"median_return_pct":0.2123772178737493,"p25_return_pct":-0.07087129583416285,"p75_return_pct":0.441981769157751,"above_zero_pct":70.58823529411765,"median_interval_low_pct":-0.07087129583416285,"median_interval_high_pct":0.441981769157751,"median_interval_nominal_coverage_pct":95.0958251953125,"confidence_floor_pct":0},{"sessions":3,"sample_size":17,"median_return_pct":0.5701645613164885,"p25_return_pct":-0.015247155932340828,"p75_return_pct":0.7378457853603582,"above_zero_pct":70.58823529411765,"median_interval_low_pct":-0.015247155932340828,"median_interval_high_pct":0.7378457853603582,"median_interval_nominal_coverage_pct":95.0958251953125,"confidence_floor_pct":0},{"sessions":5,"sample_size":17,"median_return_pct":0.25028348518334465,"p25_return_pct":-0.3476930742782214,"p75_return_pct":1.422341013301387,"above_zero_pct":70.58823529411765,"median_interval_low_pct":-0.3476930742782214,"median_interval_high_pct":1.422341013301387,"median_interval_nominal_coverage_pct":95.0958251953125,"confidence_floor_pct":0},{"sessions":10,"sample_size":17,"median_return_pct":1.2637141518299755,"p25_return_pct":0.2955412352866116,"p75_return_pct":1.924588730043153,"above_zero_pct":76.47058823529412,"median_interval_low_pct":0.2955412352866116,"median_interval_high_pct":1.924588730043153,"median_interval_nominal_coverage_pct":95.0958251953125,"confidence_floor_pct":0.2955412352866116}]},{"direction":"below","event_count":17,"completed_path_count":17,"latest_cross_date":"2026-09-03","horizons":[{"sessions":1,"sample_size":17,"median_return_pct":0.08182783835666285,"p25_return_pct":-0.3686655100386793,"p75_return_pct":0.2970982130285016,"above_zero_pct":52.94117647058824,"median_interval_low_pct":-0.3686655100386793,"median_interval_high_pct":0.2970982130285016,"median_interval_nominal_coverage_pct":95.0958251953125,"confidence_floor_pct":0},{"sessions":3,"sample_size":17,"median_return_pct":0.6210558735984195,"p25_return_pct":-0.16728482402685874,"p75_return_pct":1.1095502043511507,"above_zero_pct":64.70588235294117,"median_interval_low_pct":-0.16728482402685874,"median_interval_high_pct":1.1095502043511507,"median_interval_nominal_coverage_pct":95.0958251953125,"confidence_floor_pct":0},{"sessions":5,"sample_size":17,"median_return_pct":0.48021113310297014,"p25_return_pct":-0.8384528515113066,"p75_return_pct":0.8799710517693127,"above_zero_pct":58.82352941176471,"median_interval_low_pct":-0.8384528515113066,"median_interval_high_pct":0.8799710517693127,"median_interval_nominal_coverage_pct":95.0958251953125,"confidence_floor_pct":0},{"sessions":10,"sample_size":17,"median_return_pct":1.2077237043171207,"p25_return_pct":-0.44913750040093126,"p75_return_pct":1.4375486842127527,"above_zero_pct":70.58823529411765,"median_interval_low_pct":-0.44913750040093126,"median_interval_high_pct":1.4375486842127527,"median_interval_nominal_coverage_pct":95.0958251953125,"confidence_floor_pct":0}]}],"missing_value_semantics":"null means unavailable; it never means zero","interpretation":"These are descriptive end-of-day model outputs. Signed GEX uses the published call-positive, put-negative convention and is not observed dealer inventory. None of the fields are live prices, predictions or investment advice."}