# APPS: options-positioning snapshot

Canonical: https://halfonadouble.com/stock/APPS
Data through: 2026-11-13 close
Publisher: Half on a Double

| Published field | Value |
| --- | --- |
| Close (USD/share) | 7.61 |
| Delta neutral (USD/share) | 7.52 |
| Gamma neutral (USD/share) | 4.68 |
| Gamma max (USD/share) | 10.37 |
| Open interest (contracts) | 107,697 |
| Nearest-expiration max pain (USD/share) | 9.00 (2026-11-20) |
| All-expiration max pain (USD/share) | 8.00 |
| Net gamma exposure | 2,139,188 |
| Confirmed GEX flip (USD/share) | 4.68 |
| Call wall (USD/share) | 10.00 |
| Put wall (USD/share) | 7.00 |
| Put/call open-interest ratio | 0.31 |
| Net GEX sign history | positive for the last 622 sessions; negative on 0 of the past 252 |
| Max pain expiration record (past 252 sessions) | expiration close nearer the prior-session max pain on 0 of 12 expirations (0%); median distance 18.24% vs 3.26% for an unchanged prior close |
| Options catalyst-intensity score (0–100) | 45.1 |
| Options directional score (-100 to +100) | -3.4 |
| IV rank | 21.3 |
| Front-minus-back IV | – pp |
| Front 25-delta risk reversal | 13.2 pp |
| Call OI change, 1 session | +714 contracts · +0.9% |
| Put OI change, 1 session | +120 contracts · +0.5% |
| Call minus put OI growth, 1 session | +0.4 pp |
| Call OI change, 5 sessions | +8,890 contracts · +12.1% |
| Put OI change, 5 sessions | +380 contracts · +1.5% |
| Call minus put OI growth, 5 sessions | +10.6 pp |
| Daily call OI change surprise | +0.15σ (252 prior changes) |
| Daily put OI change surprise | +0.06σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.10σ (252 prior changes) |
| Daily open interest change (contracts) | 834 |
| Daily open interest change z-score (prior 252) | +0.13σ (252 prior changes) |
| Gamma max distance from close | +36.2% |
| Delta neutral distance from close | -1.2% |
| Prior-year sessions closer to gamma max | 98.4% of 252 |
| Prior-year sessions closer to delta neutral | 0.8% of 252 |

## Recent expirations vs max pain

| Expiration | Max pain (session before) | Prior close | Expiration close | Close vs max pain | Nearer |
| --- | ---: | ---: | ---: | ---: | --- |
| 2026-10-16 | 11.00 | 10.54 | 9.56 | -13.66% | Prior close |
| 2026-09-18 | 8.00 | 10.96 | 10.66 | +24.27% | Prior close |
| 2026-08-21 | 10.00 | 10.71 | 10.87 | +8.12% | Prior close |
| 2026-07-17 | 9.00 | 8.63 | 8.34 | -7.71% | Prior close |
| 2026-06-18 | 6.00 | 8.69 | 8.52 | +28.92% | Prior close |
| 2026-05-15 | 3.50 | 4.21 | 4.22 | +17.10% | Prior close |
| 2026-04-17 | 3.00 | 3.87 | 3.75 | +19.38% | Prior close |
| 2026-03-20 | 4.50 | 3.25 | 3.12 | -42.46% | Prior close |
| 2026-02-20 | 4.50 | 4.11 | 4.21 | -7.06% | Prior close |
| 2026-01-16 | 3.50 | 5.27 | 4.99 | +28.27% | Prior close |

Each expiration compares the last session before it, when it was the nearest expiration, with the expiration-session close; distances are percentages of that prior close. Underlying closes are not option settlement values. Descriptive history, not a forecast.

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 46 | +0.8% | -2.4% to +3.3% | 59% | -1.2% to +1.8% | 0.0% |
| above | Day +3 | 46 | +2.5% | -3.5% to +8.3% | 59% | -0.3% to +7.0% | 0.0% |
| above | Day +5 | 45 | +0.5% | -3.3% to +10.1% | 51% | -1.7% to +6.6% | 0.0% |
| above | Day +10 | 45 | +5.4% | -3.0% to +17.2% | 64% | +1.2% to +7.5% | +1.2% |
| below | Day +1 | 45 | +0.7% | -2.5% to +3.3% | 58% | -1.4% to +2.3% | 0.0% |
| below | Day +3 | 45 | -1.0% | -6.3% to +7.0% | 49% | -3.9% to +2.4% | 0.0% |
| below | Day +5 | 45 | -1.9% | -7.3% to +7.1% | 47% | -3.8% to +3.3% | 0.0% |
| below | Day +10 | 45 | +3.2% | -9.4% to +16.7% | 58% | -0.9% to +5.7% | 0.0% |

Returns are close-to-close after the labelled number of subsequent trading sessions. Cohorts require gamma max to be within 10% of the close on both crossing sessions. Historical windows can overlap and are not independent observations, so interval coverage is not guaranteed.

- [Machine-readable snapshot](https://halfonadouble.com/api/v1/tickers/APPS.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/APPS.csv)
- [Public aggregate analysis](https://halfonadouble.com/api/v1/analysis/APPS.json?date=2026-11-13&public_schema=5)

An em dash means unavailable, not zero. Values use the same display rounding as the HTML page. This is a current snapshot; the 60-session close-versus-max-pain chart, full history and individual event paths are on the canonical page.

[Definitions and limitations](https://halfonadouble.com/methodology.md).