# AAL: options-positioning snapshot

Canonical: https://halfonadouble.com/stock/AAL
Data through: 2026-10-02 close
Publisher: Half on a Double

| Published field | Value |
| --- | --- |
| Close (USD/share) | 12.94 |
| Delta neutral (USD/share) | 13.70 |
| Gamma neutral (USD/share) | 13.88 |
| Gamma max (USD/share) | 16.88 |
| Open interest (contracts) | 1,797,691 |
| Nearest-expiration max pain (USD/share) | 13.00 (2026-10-09) |
| All-expiration max pain (USD/share) | 14.00 |
| Net gamma exposure | -33,975,051 |
| Confirmed GEX flip (USD/share) | 13.88 |
| Call wall (USD/share) | 15.00 |
| Put wall (USD/share) | 12.00 |
| Put/call open-interest ratio | 1.65 |
| Options catalyst-intensity score (0–100) | 58.8 |
| Options directional score (-100 to +100) | -15.5 |
| IV rank | 44.5 |
| Front ATM IV | +55.0% |
| Front-minus-back IV | 6.7 pp |
| Front expected move | +7.6% |
| Front ATM straddle / spot | +5.6% |
| Front 25-delta risk reversal | -2.2 pp |
| Call OI change, 1 session | -73,313 contracts · -9.7% |
| Put OI change, 1 session | -8,068 contracts · -0.7% |
| Call minus put OI growth, 1 session | -9.0 pp |
| Call OI change, 5 sessions | -36,864 contracts · -5.1% |
| Put OI change, 5 sessions | +23,360 contracts · +2.1% |
| Call minus put OI growth, 5 sessions | -7.3 pp |
| Daily call OI change surprise | -1.40σ (252 prior changes) |
| Daily put OI change surprise | -0.07σ (252 prior changes) |
| Daily call-minus-put growth surprise | -3.58σ (252 prior changes) |
| Daily open interest change (contracts) | -81,381 |
| Daily open interest change z-score (prior 252) | -0.66σ (252 prior changes) |
| Gamma max distance from close | +30.4% |
| Delta neutral distance from close | +5.8% |
| Prior-year sessions closer to gamma max | 88.5% of 252 |
| Prior-year sessions closer to delta neutral | 64.3% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 7 | +0.6% | -1.4% to +1.5% | 57% | -3.4% to +3.8% | 0.0% |
| above | Day +3 | 7 | +1.9% | -0.6% to +2.0% | 71% | -6.1% to +9.6% | 0.0% |
| above | Day +5 | 7 | +1.0% | -6.3% to +2.6% | 57% | -7.6% to +11.8% | 0.0% |
| above | Day +10 | 7 | +2.0% | -8.2% to +4.7% | 57% | -11.6% to +19.4% | 0.0% |
| below | Day +1 | 7 | +1.6% | -0.7% to +2.4% | 71% | -2.5% to +4.9% | 0.0% |
| below | Day +3 | 7 | -2.0% | -2.8% to +2.4% | 43% | -6.8% to +4.6% | 0.0% |
| below | Day +5 | 7 | -3.0% | -5.9% to +1.4% | 43% | -9.0% to +4.0% | 0.0% |
| below | Day +10 | 7 | +0.7% | -5.0% to +5.6% | 57% | -10.8% to +17.2% | 0.0% |

Returns are close-to-close after the labelled number of subsequent trading sessions. Cohorts require gamma max to be within 10% of the close on both crossing sessions. Historical windows can overlap and are not independent observations, so interval coverage is not guaranteed.

- [Machine-readable snapshot](https://halfonadouble.com/api/v1/tickers/AAL.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/AAL.csv)
- [Complete advanced analysis](https://halfonadouble.com/api/v1/analysis/AAL.json?date=2026-10-02)

An em dash means unavailable, not zero. Values use the same display rounding as the HTML page. This is a current snapshot; full history and individual event paths are on the canonical page.

[Definitions and limitations](https://halfonadouble.com/methodology.md).