AMZN max pain, gamma exposure (GEX) & options open interest
As of close · rank #17 by open interest · 1,393 sessions of history since Dec 1, 2020
AMZN's nearest-expiration max pain is 250.00 for 2026-10-05, its GEX flip is 237.04, net GEX is 206,038,237, its put/call open-interest ratio is 0.69. 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: smile convexity 23.4 pp · volume/OI 0.17
AMZN closed 8.6% below its gamma max of 273.07. It is 5.4% above the delta neutral price of 238.06. Total open interest is 4,684,251, -2.5% versus the previous session. Its options catalyst-intensity score is 36.1 out of 100, led by smile convexity 23.4 pp, volume/OI 0.17. 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 | -83,994 contracts · -2.9% |
| Put OI change, 1 session | -35,206 contracts · -1.8% |
| Call minus put OI growth, 1 session | -1.1 pp |
| Call OI change, 5 sessions | +91,281 contracts · +3.4% |
| Put OI change, 5 sessions | +62,977 contracts · +3.4% |
| Call minus put OI growth, 5 sessions | -0.0 pp |
| Daily call OI change surprise | -0.60σ (252 prior changes) |
| Daily put OI change surprise | -0.44σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.60σ (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 13 completed Day +10 paths · latest Aug 4, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 13 | -0.5% | -0.9% to +0.5% | 31% | -0.9% to +0.5% | 0.0% |
| Day +2 | 13 | +0.5% | -1.9% to +0.9% | 69% | -1.9% to +0.9% | 0.0% |
| Day +3 | 13 | +0.5% | -1.1% to +1.5% | 54% | -1.1% to +1.5% | 0.0% |
| Day +4 | 13 | +0.6% | -1.1% to +2.4% | 62% | -1.1% to +2.4% | 0.0% |
| Day +5 | 13 | -0.4% | -2.7% to +3.0% | 46% | -2.7% to +3.0% | 0.0% |
| Day +6 | 13 | -1.2% | -3.7% to +2.7% | 38% | -3.7% to +2.7% | 0.0% |
| Day +7 | 13 | -1.7% | -3.9% to +4.8% | 38% | -3.9% to +4.8% | 0.0% |
| Day +8 | 13 | -1.3% | -4.0% to +3.9% | 31% | -4.0% to +3.9% | 0.0% |
| Day +9 | 13 | -1.5% | -3.3% to -0.0% | 23% | -3.3% to -0.0% | -0.0% |
| Day +10 | 13 | -1.7% | -3.1% to +1.3% | 38% | -3.1% to +1.3% | 0.0% |
Crosses above gamma max 13 completed Day +10 paths · latest Aug 3, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 13 | -0.4% | -0.9% to +0.6% | 31% | -0.9% to +0.6% | 0.0% |
| Day +2 | 13 | -1.0% | -1.6% to +0.7% | 38% | -1.6% to +0.7% | 0.0% |
| Day +3 | 13 | -0.3% | -1.7% to +1.2% | 46% | -1.7% to +1.2% | 0.0% |
| Day +4 | 13 | +0.4% | -1.5% to +1.2% | 54% | -1.5% to +1.2% | 0.0% |
| Day +5 | 13 | +0.2% | -1.2% to +1.5% | 62% | -1.2% to +1.5% | 0.0% |
| Day +6 | 13 | +0.2% | -3.6% to +2.6% | 54% | -3.6% to +2.6% | 0.0% |
| Day +7 | 13 | -1.3% | -4.0% to +2.5% | 38% | -4.0% to +2.5% | 0.0% |
| Day +8 | 13 | -2.6% | -2.9% to +4.2% | 31% | -2.9% to +4.2% | 0.0% |
| Day +9 | 13 | -1.6% | -3.5% to +2.7% | 31% | -3.5% to +2.7% | 0.0% |
| Day +10 | 13 | -1.3% | -3.9% to +1.1% | 31% | -3.9% to +1.1% | 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 | 2% |
| Gamma max crosses | 8 |
| Delta neutral crosses | 4 |
| Prior-year sessions closer to gamma max | 73.0% of 252 |
| Prior-year sessions closer to delta neutral | 34.9% of 252 |
| Open interest percentile (1y) | 56th |
| Daily open interest change versus prior year | -0.55σ (-119,200 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +3.4% |
| Open interest change, 21 sessions | +4.1% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 277.42 vs 289.48 (-4.3%)
- closed above gamma max at 284.02 vs 281.55 (+0.9%)
- closed below gamma max at 261.07 vs 268.47 (-2.8%)
- closed above gamma max at 263.93 vs 262.45 (+0.6%)
- closed below gamma max at 248.41 vs 252.12 (-1.5%)
- closed above gamma max at 248.97 vs 245.20 (+1.5%)
- closed below gamma max at 238.38 vs 238.62 (-0.1%)
- closed above gamma max at 233.65 vs 229.07 (+2.0%)
- closed above delta neutral at 200.95 vs 199.67 (+0.6%)
- closed below delta neutral at 199.34 vs 199.73 (-0.2%)
In today's screens
Neighbours by open interest
Cite or embed this snapshot
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Canonical source: https://halfonadouble.com/stock/AMZN
Questions people ask about AMZN
Where is AMZN's gamma max today?
As of Oct 2, 2026, the gamma max for AMZN is 273.07, +8.6% from the 251.52 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 AMZN above or below its delta neutral price?
AMZN closed above delta neutral: 251.52 against a delta neutral price of 238.06. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does AMZN have?
4,684,251 contracts of open interest across 1,668 listed contracts on Oct 2, 2026, -2.5% 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.