ARDX max pain, gamma exposure (GEX) & options open interest
As of close · rank #425 by open interest · 1,228 sessions of history since Dec 1, 2020
ARDX's nearest-expiration max pain is 4.00 for 2026-10-16, its GEX flip is 8.31, net GEX is -13,800,136, its put/call open-interest ratio is 3.02. 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: 25Δ risk reversal -105.5 pp
ARDX closed 73.1% above its gamma max of 0.90. It is 52.7% below the delta neutral price of 5.10. Total open interest is 187,877, +0.0% versus the previous session. Its options catalyst-intensity score is 40.0 out of 100, led by 25Δ risk reversal -105.5 pp. 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 | +21 contracts · +0.0% |
| Put OI change, 1 session | +57 contracts · +0.0% |
| Call minus put OI growth, 1 session | +0.0 pp |
| Call OI change, 5 sessions | +1,623 contracts · +3.6% |
| Put OI change, 5 sessions | +316 contracts · +0.2% |
| Call minus put OI growth, 5 sessions | +3.4 pp |
| Daily call OI change surprise | +0.01σ (252 prior changes) |
| Daily put OI change surprise | -0.16σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.11σ (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 62 completed Day +10 paths · latest Jul 20, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 62 | -0.1% | -2.4% to +2.2% | 45% | -0.9% to +1.0% | 0.0% |
| Day +2 | 62 | 0.0% | -3.3% to +4.1% | 48% | -1.0% to +1.4% | 0.0% |
| Day +3 | 62 | +0.4% | -4.2% to +4.6% | 50% | -1.2% to +2.2% | 0.0% |
| Day +4 | 62 | +0.7% | -4.5% to +3.6% | 55% | -2.1% to +1.6% | 0.0% |
| Day +5 | 62 | +0.8% | -5.8% to +5.4% | 55% | -0.7% to +2.5% | 0.0% |
| Day +6 | 62 | +0.6% | -6.2% to +7.5% | 52% | -2.1% to +3.3% | 0.0% |
| Day +7 | 62 | +0.9% | -9.0% to +5.9% | 53% | -0.8% to +1.6% | 0.0% |
| Day +8 | 62 | +1.8% | -6.9% to +10.3% | 53% | -1.4% to +4.4% | 0.0% |
| Day +9 | 62 | +1.6% | -9.6% to +10.4% | 53% | -2.3% to +4.7% | 0.0% |
| Day +10 | 62 | +2.3% | -9.0% to +11.5% | 56% | -1.8% to +4.3% | 0.0% |
Crosses above gamma max 60 completed Day +10 paths · latest May 4, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 60 | -0.2% | -2.4% to +3.0% | 43% | -1.4% to +1.0% | 0.0% |
| Day +2 | 60 | +0.7% | -3.0% to +3.6% | 55% | -1.8% to +2.1% | 0.0% |
| Day +3 | 60 | -0.6% | -4.9% to +6.3% | 47% | -1.8% to +1.2% | 0.0% |
| Day +4 | 60 | +0.1% | -4.7% to +5.5% | 50% | -2.9% to +3.0% | 0.0% |
| Day +5 | 60 | -0.1% | -7.7% to +7.9% | 50% | -2.7% to +2.3% | 0.0% |
| Day +6 | 60 | +0.1% | -7.1% to +4.8% | 50% | -2.0% to +1.9% | 0.0% |
| Day +7 | 60 | +1.0% | -7.1% to +6.6% | 57% | -0.7% to +2.5% | 0.0% |
| Day +8 | 60 | -0.6% | -6.2% to +7.4% | 45% | -3.1% to +2.9% | 0.0% |
| Day +9 | 60 | +0.4% | -5.4% to +8.8% | 52% | -2.2% to +3.8% | 0.0% |
| Day +10 | 60 | +0.8% | -6.7% to +11.3% | 52% | -3.3% to +3.7% | 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 | 20% |
| Gamma max crosses | 41 |
| Delta neutral crosses | 13 |
| Prior-year sessions closer to gamma max | 89.3% of 252 |
| Prior-year sessions closer to delta neutral | 99.2% of 252 |
| Open interest percentile (1y) | 100th |
| Daily open interest change versus prior year | -0.07σ (78 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +1.0% |
| Open interest change, 21 sessions | +48.2% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed above gamma max at 3.38 vs 0.87 (+74.2%)
- closed below gamma max at 3.42 vs 15.02 (-339.2%)
- closed above gamma max at 3.45 vs 1.00 (+71.0%)
- closed below gamma max at 3.48 vs 10.20 (-193.2%)
- closed above gamma max at 3.50 vs 1.00 (+71.4%)
- closed below gamma max at 3.42 vs 8.96 (-162.1%)
- closed above gamma max at 3.38 vs 0.74 (+78.1%)
- closed below delta neutral at 4.00 vs 4.41 (-10.2%)
- closed below gamma max at 5.09 vs 5.52 (-8.5%)
- closed above gamma max at 5.20 vs 5.15 (+1.0%)
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/ARDX
Questions people ask about ARDX
Where is ARDX's gamma max today?
As of Oct 2, 2026, the gamma max for ARDX is 0.90, -73.1% from the 3.34 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 ARDX above or below its delta neutral price?
ARDX closed below delta neutral: 3.34 against a delta neutral price of 5.10. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does ARDX have?
187,877 contracts of open interest across 56 listed contracts on Oct 2, 2026, +0.0% 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.