AMAT max pain, gamma exposure (GEX) & options open interest
As of close · rank #197 by open interest · 1,394 sessions of history since Dec 1, 2020
AMAT's nearest-expiration max pain is 465.00 for 2026-10-09, its GEX flip is 499.71, net GEX is 6,849,653, its put/call open-interest ratio is 1.42. 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 0.07
AMAT closed 7.3% below its gamma max of 579.44. It is 10.2% above the delta neutral price of 484.95. Total open interest is 511,771, -4.7% versus the previous session. Its options catalyst-intensity score is 36.3 out of 100, led by volume/OI 0.07. 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 | -13,013 contracts · -5.8% |
| Put OI change, 1 session | -12,306 contracts · -3.9% |
| Call minus put OI growth, 1 session | -1.8 pp |
| Call OI change, 5 sessions | +4,009 contracts · +1.9% |
| Put OI change, 5 sessions | +4,953 contracts · +1.7% |
| Call minus put OI growth, 5 sessions | +0.2 pp |
| Daily call OI change surprise | -1.10σ (252 prior changes) |
| Daily put OI change surprise | -0.88σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.76σ (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 17 completed Day +10 paths · latest Jun 18, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 17 | -0.3% | -1.9% to +0.3% | 41% | -1.9% to +0.3% | 0.0% |
| Day +2 | 17 | -0.1% | -1.6% to +0.5% | 47% | -1.6% to +0.5% | 0.0% |
| Day +3 | 17 | -0.4% | -2.0% to +0.8% | 35% | -2.0% to +0.8% | 0.0% |
| Day +4 | 17 | +0.3% | -2.1% to +3.1% | 53% | -2.1% to +3.1% | 0.0% |
| Day +5 | 17 | +0.8% | -3.2% to +2.4% | 59% | -3.2% to +2.4% | 0.0% |
| Day +6 | 17 | +0.6% | -2.6% to +2.0% | 53% | -2.6% to +2.0% | 0.0% |
| Day +7 | 17 | -0.3% | -2.0% to +2.9% | 47% | -2.0% to +2.9% | 0.0% |
| Day +8 | 17 | +0.7% | -1.9% to +5.4% | 53% | -1.9% to +5.4% | 0.0% |
| Day +9 | 17 | +0.1% | -3.6% to +3.4% | 53% | -3.6% to +3.4% | 0.0% |
| Day +10 | 17 | -1.9% | -4.3% to +3.4% | 41% | -4.3% to +3.4% | 0.0% |
Crosses above gamma max 19 completed Day +10 paths · latest Jun 11, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 19 | +0.3% | -1.1% to +1.8% | 63% | -0.9% to +1.3% | 0.0% |
| Day +2 | 19 | +0.1% | -2.5% to +2.3% | 53% | -2.0% to +1.9% | 0.0% |
| Day +3 | 19 | +0.1% | -1.4% to +2.6% | 58% | -1.1% to +2.4% | 0.0% |
| Day +4 | 19 | -0.4% | -1.1% to +2.4% | 47% | -1.1% to +1.1% | 0.0% |
| Day +5 | 19 | +0.7% | -1.3% to +6.6% | 53% | -1.1% to +5.7% | 0.0% |
| Day +6 | 19 | +1.8% | -2.0% to +5.8% | 63% | -1.6% to +4.5% | 0.0% |
| Day +7 | 19 | +1.6% | -0.9% to +5.0% | 58% | -0.8% to +4.1% | 0.0% |
| Day +8 | 19 | +1.1% | -2.0% to +7.9% | 63% | -1.8% to +7.5% | 0.0% |
| Day +9 | 19 | +0.9% | -0.8% to +7.0% | 68% | -0.1% to +6.1% | 0.0% |
| Day +10 | 19 | +4.6% | -0.8% to +7.6% | 74% | +0.2% to +5.7% | +0.2% |
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 | 4% |
| Gamma max crosses | 11 |
| Delta neutral crosses | 6 |
| Prior-year sessions closer to gamma max | 45.2% of 252 |
| Prior-year sessions closer to delta neutral | 49.2% of 252 |
| Open interest percentile (1y) | 88th |
| Daily open interest change versus prior year | -0.99σ (-25,319 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +1.8% |
| Open interest change, 21 sessions | -5.5% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed above delta neutral at 464.24 vs 457.13 (+1.5%)
- closed below delta neutral at 454.01 vs 463.42 (-2.1%)
- closed above delta neutral at 472.78 vs 467.96 (+1.0%)
- closed below delta neutral at 496.17 vs 505.55 (-1.9%)
- closed above delta neutral at 501.77 vs 498.28 (+0.7%)
- closed below delta neutral at 476.46 vs 499.97 (-4.9%)
- closed below gamma max at 626.63 vs 698.53 (-11.5%)
- closed above gamma max at 655.26 vs 635.85 (+3.0%)
- closed below gamma max at 618.69 vs 636.23 (-2.8%)
- closed above gamma max at 553.45 vs 530.48 (+4.2%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/AMAT
Questions people ask about AMAT
Where is AMAT's gamma max today?
As of Oct 2, 2026, the gamma max for AMAT is 579.44, +7.3% from the 540.04 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 AMAT above or below its delta neutral price?
AMAT closed above delta neutral: 540.04 against a delta neutral price of 484.95. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does AMAT have?
511,771 contracts of open interest across 1,869 listed contracts on Oct 2, 2026, -4.7% 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.