APLD max pain, gamma exposure (GEX) & options open interest
As of close · rank #143 by open interest · 764 sessions of history since May 26, 2023
APLD's nearest-expiration max pain is 25.00 for 2026-10-09, its GEX flip is 21.20, net GEX is 9,817,923, its put/call open-interest ratio is 0.48. 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: front IV premium 42.9 pp · 7d expected move +18.1% · volume/OI 0.16
APLD closed 24.2% below its gamma max of 31.53. It is 9.0% above the delta neutral price of 23.10. Total open interest is 719,389, -4.7% versus the previous session. Its options catalyst-intensity score is 76.0 out of 100, led by front IV premium 42.9 pp, 7d expected move +18.1%, volume/OI 0.16. 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 | -23,641 contracts · -4.6% |
| Put OI change, 1 session | -11,761 contracts · -4.8% |
| Call minus put OI growth, 1 session | +0.2 pp |
| Call OI change, 5 sessions | +27,486 contracts · +6.0% |
| Put OI change, 5 sessions | +20,109 contracts · +9.5% |
| Call minus put OI growth, 5 sessions | -3.5 pp |
| Daily call OI change surprise | -0.66σ (252 prior changes) |
| Daily put OI change surprise | -0.54σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.06σ (252 prior changes) |
History
Hover for valuesDrag to panScroll to zoomClick a series to hide it ← → step a session+ − zoomTouch: swipe to pan, pinch to zoom, hold for the crosshair
Analysis visualizations
Derived from the 2026-10-02 options chain. Select an analysis to explore its chart.
No matching visualizations.
Gamma walls
Chart loads when this section is in view.
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 30 completed Day +10 paths · latest May 22, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 30 | -0.8% | -3.7% to +3.6% | 40% | -1.6% to +2.9% | 0.0% |
| Day +2 | 30 | +2.1% | -6.4% to +6.0% | 53% | -4.0% to +4.2% | 0.0% |
| Day +3 | 30 | -1.0% | -4.9% to +5.5% | 43% | -3.6% to +4.4% | 0.0% |
| Day +4 | 30 | -1.6% | -7.2% to +7.3% | 43% | -3.4% to +2.5% | 0.0% |
| Day +5 | 30 | -1.1% | -8.6% to +8.9% | 47% | -4.6% to +5.1% | 0.0% |
| Day +6 | 30 | +1.3% | -9.7% to +9.0% | 53% | -5.7% to +3.1% | 0.0% |
| Day +7 | 30 | -3.3% | -8.7% to +9.6% | 47% | -5.7% to +9.3% | 0.0% |
| Day +8 | 30 | -1.0% | -6.4% to +9.3% | 43% | -4.6% to +7.1% | 0.0% |
| Day +9 | 30 | +3.2% | -12.3% to +12.8% | 57% | -6.9% to +12.3% | 0.0% |
| Day +10 | 30 | +6.2% | -10.6% to +16.0% | 57% | -8.5% to +11.5% | 0.0% |
Crosses above gamma max 28 completed Day +10 paths · latest May 8, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 28 | -0.4% | -3.9% to +2.9% | 46% | -3.6% to +1.2% | 0.0% |
| Day +2 | 28 | -0.4% | -7.5% to +4.4% | 46% | -4.1% to +3.1% | 0.0% |
| Day +3 | 28 | -0.7% | -11.5% to +5.4% | 50% | -7.6% to +3.1% | 0.0% |
| Day +4 | 28 | -0.2% | -9.6% to +10.9% | 50% | -6.4% to +7.8% | 0.0% |
| Day +5 | 28 | +0.7% | -9.4% to +10.3% | 54% | -5.8% to +6.3% | 0.0% |
| Day +6 | 28 | -4.9% | -8.5% to +7.9% | 43% | -6.2% to +5.6% | 0.0% |
| Day +7 | 28 | -2.6% | -12.5% to +8.2% | 43% | -9.2% to +2.2% | 0.0% |
| Day +8 | 28 | -1.3% | -13.8% to +8.5% | 50% | -9.9% to +5.2% | 0.0% |
| Day +9 | 28 | -1.5% | -12.2% to +9.3% | 46% | -7.6% to +4.5% | 0.0% |
| Day +10 | 28 | -1.6% | -18.6% to +13.6% | 46% | -9.4% to +10.9% | 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 | 6% |
| Gamma max crosses | 23 |
| Delta neutral crosses | 2 |
| Prior-year sessions closer to gamma max | 83.3% of 252 |
| Prior-year sessions closer to delta neutral | 9.9% of 252 |
| Open interest percentile (1y) | 28th |
| Daily open interest change versus prior year | -0.63σ (-35,402 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +7.1% |
| Open interest change, 21 sessions | -8.2% |
| History available | May 26, 2023 → Oct 2, 2026 |
Recent crosses
- closed above delta neutral at 24.39 vs 23.75 (+2.6%)
- closed below delta neutral at 23.42 vs 23.51 (-0.4%)
- closed below gamma max at 45.87 vs 48.28 (-5.3%)
- closed above gamma max at 48.02 vs 47.88 (+0.3%)
- closed below gamma max at 43.93 vs 45.62 (-3.8%)
- closed above gamma max at 41.25 vs 38.95 (+5.6%)
- closed below gamma max at 41.60 vs 42.04 (-1.1%)
- closed above gamma max at 39.88 vs 38.04 (+4.6%)
- closed below gamma max at 35.01 vs 35.26 (-0.7%)
- closed above gamma max at 36.35 vs 34.72 (+4.5%)
In today's screens
Neighbours by open interest
Cite or embed this snapshot
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/APLD
Questions people ask about APLD
Where is APLD's gamma max today?
As of Oct 2, 2026, the gamma max for APLD is 31.53, +24.2% from the 25.38 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 APLD above or below its delta neutral price?
APLD closed above delta neutral: 25.38 against a delta neutral price of 23.10. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does APLD have?
719,389 contracts of open interest across 542 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.