AI max pain, gamma exposure (GEX) & options open interest
As of close · rank #387 by open interest · 1,383 sessions of history since Dec 16, 2020
AI's nearest-expiration max pain is 10.50 for 2026-10-09, net GEX is 6,696,796, its put/call open-interest ratio is 0.64. These are whole-chain derived aggregates as of Oct 2, 2026 close.
Whole-chain analytics
Derived after the close from the same dated options chain. Signed gamma exposure uses calls positive and puts negative; it is a model convention, not observed dealer inventory.
Advanced options analysis
Complete derived analysis from the dated chain, normalized where possible for comparison across tickers. Catalyst intensity measures unusual pricing and activity; it does not identify an event, predict direction, or establish that an investment is attractive.
Strongest relative signals: volume/OI 0.63 · front IV premium 8.7 pp
AI closed 7.9% below its gamma max of 11.88. It is 5.0% above the delta neutral price of 10.46. That is a fresh cross: the previous close was on the other side of gamma max. Total open interest is 217,289, -31.0% versus the previous session. Its options catalyst-intensity score is 64.2 out of 100, led by volume/OI 0.63, front IV premium 8.7 pp. What gamma max means · What delta neutral means
Call versus put open interest changes
Growth compares outstanding contracts on each side. A positive growth gap favors calls; a negative gap favors puts. Standardized surprises compare each measure with its own prior history. These describe the OI balance, not IV skew or buying direction.
| Measure | Value |
|---|---|
| Call OI change, 1 session | -93,020 contracts · -41.2% |
| Put OI change, 1 session | -4,545 contracts · -5.1% |
| Call minus put OI growth, 1 session | -36.1 pp |
| Call OI change, 5 sessions | +8,425 contracts · +6.8% |
| Put OI change, 5 sessions | +2,268 contracts · +2.8% |
| Call minus put OI growth, 5 sessions | +4.0 pp |
| Daily call OI change surprise | -2.08σ (252 prior changes) |
| Daily put OI change surprise | -0.81σ (252 prior changes) |
| Daily call-minus-put growth surprise | -2.14σ (252 prior changes) |
History
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Analysis visualizations
Derived from the 2026-10-02 options chain. Select an analysis to explore its chart.
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Gamma walls
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What followed prior gamma-max crosses?
Each historical path starts at 0% on the cross date and follows the close for ten subsequent trading sessions. Cohorts use the same direction as labelled and require gamma max to be within 10% of the close on both crossing sessions.
Crosses below gamma max 39 completed Day +10 paths · latest Oct 2, 2026 fresh cross
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 39 | +0.7% | -1.2% to +2.8% | 56% | -0.4% to +1.7% | 0.0% |
| Day +2 | 39 | +1.4% | -1.7% to +4.0% | 56% | -0.6% to +3.7% | 0.0% |
| Day +3 | 39 | +0.8% | -3.7% to +2.7% | 59% | -1.4% to +1.7% | 0.0% |
| Day +4 | 39 | -0.4% | -7.8% to +4.0% | 49% | -3.5% to +2.7% | 0.0% |
| Day +5 | 39 | -0.5% | -7.5% to +3.5% | 49% | -3.0% to +2.1% | 0.0% |
| Day +6 | 39 | -3.2% | -6.9% to +5.2% | 41% | -5.0% to +1.9% | 0.0% |
| Day +7 | 39 | -2.0% | -6.8% to +3.6% | 36% | -4.1% to +0.9% | 0.0% |
| Day +8 | 39 | -1.4% | -6.6% to +6.0% | 44% | -6.0% to +3.2% | 0.0% |
| Day +9 | 39 | +0.6% | -7.1% to +7.2% | 51% | -4.9% to +4.4% | 0.0% |
| Day +10 | 39 | +0.6% | -7.1% to +6.2% | 51% | -4.2% to +3.3% | 0.0% |
Crosses above gamma max 41 completed Day +10 paths · latest Sep 30, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 42 | -0.0% | -2.0% to +1.9% | 50% | -0.7% to +1.1% | 0.0% |
| Day +2 | 42 | -0.4% | -2.4% to +2.7% | 45% | -1.7% to +0.3% | 0.0% |
| Day +3 | 41 | +1.7% | -1.5% to +2.8% | 63% | -0.1% to +2.2% | 0.0% |
| Day +4 | 41 | +0.4% | -5.7% to +3.4% | 54% | -3.3% to +1.9% | 0.0% |
| Day +5 | 41 | -0.6% | -6.9% to +5.3% | 44% | -4.9% to +3.3% | 0.0% |
| Day +6 | 41 | +0.3% | -8.5% to +3.5% | 54% | -4.1% to +1.9% | 0.0% |
| Day +7 | 41 | -0.9% | -7.7% to +4.8% | 46% | -4.3% to +3.5% | 0.0% |
| Day +8 | 41 | -1.4% | -7.0% to +5.4% | 41% | -3.5% to +2.6% | 0.0% |
| Day +9 | 41 | -2.6% | -7.3% to +5.7% | 41% | -5.7% to +1.2% | 0.0% |
| Day +10 | 41 | -1.8% | -7.6% to +6.6% | 44% | -6.3% to +2.5% | 0.0% |
Returns are close-to-close after the labelled number of subsequent trading sessions. The confidence floor is the closest-to-zero bound of the order-statistic median interval; it is zero when that interval spans zero. Its coverage is nominally at least 90% under independent observations. Historical paths can overlap, so the interval and floor are descriptive uncertainty guides rather than formal coverage guarantees. Historical, not a forecast.
Last 252 sessions
| Sessions closed above gamma max | 14% |
| Gamma max crosses | 38 |
| Delta neutral crosses | 54 |
| Prior-year sessions closer to gamma max | 70.6% of 252 |
| Prior-year sessions closer to delta neutral | 54.8% of 252 |
| Open interest percentile (1y) | 4th |
| Daily open interest change versus prior year | -2.00σ (-97,565 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +5.2% |
| Open interest change, 21 sessions | -36.3% |
| History available | Dec 16, 2020 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 11.01 vs 11.88 (-7.9%)
- closed above gamma max at 10.99 vs 10.80 (+1.7%)
- closed above delta neutral at 10.84 vs 10.15 (+6.4%)
- closed below delta neutral at 10.48 vs 10.52 (-0.4%)
- closed below gamma max at 10.56 vs 10.75 (-1.8%)
- closed above gamma max at 11.17 vs 10.70 (+4.2%)
- closed below gamma max at 10.46 vs 11.84 (-13.2%)
- closed above gamma max at 10.52 vs 10.47 (+0.5%)
- closed below gamma max at 10.34 vs 10.50 (-1.5%)
- closed above gamma max at 10.82 vs 10.40 (+3.9%)
In today's screens
Neighbours by open interest
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Share the dated 1600×840 image or cite this canonical page. The card contains public derived aggregates, not contract-level quotes.
Canonical source: https://halfonadouble.com/stock/AI
Questions people ask about AI
Where is AI's gamma max today?
As of Oct 2, 2026, the gamma max for AI is 11.88, +7.9% from the 11.01 close. Gamma max is the underlying price at which the summed gamma of every open contract is largest; how it is computed and why it matters.
Is AI above or below its delta neutral price?
AI closed above delta neutral: 11.01 against a delta neutral price of 10.46. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does AI have?
217,289 contracts of open interest across 284 listed contracts on Oct 2, 2026, -31.0% versus the previous session. What open interest measures.
Levels are recomputed after every trading day from licensed end-of-day options data; only derived aggregates are published. Methodology · Data and licence · Not investment advice.