AMGN max pain, gamma exposure (GEX) & options open interest
As of close · rank #555 by open interest · 1,393 sessions of history since Dec 1, 2020
AMGN's nearest-expiration max pain is 405.00 for 2026-10-09, its GEX flip is 391.26, net GEX is 2,696,050, its put/call open-interest ratio is 1.05. 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.
AMGN closed 8.0% below its gamma max of 435.37. It is 2.2% above the delta neutral price of 394.20. Total open interest is 127,858, -2.8% versus the previous session. Its options catalyst-intensity score is 36.2 out of 100. 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 | -652 contracts · -1.0% |
| Put OI change, 1 session | -3,083 contracts · -4.5% |
| Call minus put OI growth, 1 session | +3.5 pp |
| Call OI change, 5 sessions | +3,345 contracts · +5.7% |
| Put OI change, 5 sessions | +240 contracts · +0.4% |
| Call minus put OI growth, 5 sessions | +5.3 pp |
| Daily call OI change surprise | -0.12σ (252 prior changes) |
| Daily put OI change surprise | -0.73σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.94σ (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 26 completed Day +10 paths · latest Mar 2, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 26 | -0.3% | -1.1% to +0.5% | 42% | -0.8% to +0.4% | 0.0% |
| Day +2 | 26 | +0.1% | -1.2% to +1.3% | 54% | -0.9% to +1.2% | 0.0% |
| Day +3 | 26 | +0.6% | -1.6% to +2.2% | 58% | -0.4% to +1.5% | 0.0% |
| Day +4 | 26 | +0.5% | -0.8% to +1.2% | 54% | -0.4% to +1.1% | 0.0% |
| Day +5 | 26 | -0.1% | -1.6% to +1.4% | 42% | -1.3% to +1.1% | 0.0% |
| Day +6 | 26 | +0.3% | -2.7% to +2.5% | 50% | -1.2% to +1.4% | 0.0% |
| Day +7 | 26 | +0.2% | -2.5% to +2.8% | 54% | -1.6% to +2.3% | 0.0% |
| Day +8 | 26 | +0.2% | -2.9% to +3.2% | 54% | -1.6% to +1.8% | 0.0% |
| Day +9 | 26 | +0.4% | -4.9% to +3.7% | 54% | -1.9% to +1.5% | 0.0% |
| Day +10 | 26 | +0.8% | -3.9% to +3.7% | 54% | -1.6% to +1.9% | 0.0% |
Crosses above gamma max 26 completed Day +10 paths · latest Feb 27, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 26 | -0.1% | -1.1% to +0.5% | 46% | -0.8% to +0.5% | 0.0% |
| Day +2 | 26 | -0.0% | -1.9% to +1.9% | 50% | -1.4% to +1.8% | 0.0% |
| Day +3 | 26 | +0.7% | -1.7% to +1.9% | 58% | -1.5% to +1.7% | 0.0% |
| Day +4 | 26 | +0.5% | -1.1% to +2.7% | 58% | -0.9% to +2.0% | 0.0% |
| Day +5 | 26 | +0.0% | -1.6% to +2.7% | 50% | -0.9% to +2.2% | 0.0% |
| Day +6 | 26 | +0.3% | -1.1% to +2.4% | 50% | -0.9% to +1.4% | 0.0% |
| Day +7 | 26 | +0.9% | -2.6% to +2.3% | 62% | -1.7% to +1.4% | 0.0% |
| Day +8 | 26 | +1.7% | -2.5% to +3.8% | 62% | -1.9% to +3.1% | 0.0% |
| Day +9 | 26 | +1.4% | -3.5% to +4.1% | 58% | -1.6% to +3.7% | 0.0% |
| Day +10 | 26 | +1.6% | -3.0% to +4.0% | 62% | -0.4% to +3.1% | 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 | 8% |
| Gamma max crosses | 8 |
| Delta neutral crosses | 8 |
| Prior-year sessions closer to gamma max | 68.7% of 252 |
| Prior-year sessions closer to delta neutral | 11.1% of 252 |
| Open interest percentile (1y) | 66th |
| Daily open interest change versus prior year | -0.42σ (-3,735 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +2.9% |
| Open interest change, 21 sessions | -15.4% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed above delta neutral at 393.16 vs 390.21 (+0.8%)
- closed below delta neutral at 393.17 vs 404.02 (-2.8%)
- closed above delta neutral at 338.22 vs 331.96 (+1.9%)
- closed below delta neutral at 329.13 vs 329.46 (-0.1%)
- closed above delta neutral at 330.92 vs 329.54 (+0.4%)
- closed below delta neutral at 326.41 vs 331.01 (-1.4%)
- closed above delta neutral at 329.59 vs 327.84 (+0.5%)
- closed below delta neutral at 323.85 vs 326.47 (-0.8%)
- closed below gamma max at 389.98 vs 391.26 (-0.3%)
- closed above gamma max at 387.96 vs 386.97 (+0.3%)
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Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/AMGN
Questions people ask about AMGN
Where is AMGN's gamma max today?
As of Oct 2, 2026, the gamma max for AMGN is 435.37, +8.0% from the 403.04 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 AMGN above or below its delta neutral price?
AMGN closed above delta neutral: 403.04 against a delta neutral price of 394.20. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does AMGN have?
127,858 contracts of open interest across 966 listed contracts on Oct 2, 2026, -2.8% 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.