ARM max pain, gamma exposure (GEX) & options open interest
As of close · rank #123 by open interest · 691 sessions of history since Sep 19, 2023
ARM's nearest-expiration max pain is 285.00 for 2026-10-09, its GEX flip is 280.16, net GEX is 9,163,649, its put/call open-interest ratio is 1.13. 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: IV rank 100 · volume/OI 0.13 · 7d expected move +9.4%
ARM closed 12.5% below its gamma max of 345.85. It is 9.1% above the delta neutral price of 279.42. Total open interest is 810,725, -7.5% versus the previous session. Its options catalyst-intensity score is 48.3 out of 100, led by IV rank 100, volume/OI 0.13, 7d expected move +9.4%. 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 | -41,931 contracts · -9.9% |
| Put OI change, 1 session | -23,473 contracts · -5.2% |
| Call minus put OI growth, 1 session | -4.8 pp |
| Call OI change, 5 sessions | +2,964 contracts · +0.8% |
| Put OI change, 5 sessions | +26,541 contracts · +6.6% |
| Call minus put OI growth, 5 sessions | -5.8 pp |
| Daily call OI change surprise | -1.74σ (252 prior changes) |
| Daily put OI change surprise | -1.14σ (252 prior changes) |
| Daily call-minus-put growth surprise | -1.96σ (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 11 completed Day +10 paths · latest Sep 22, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 12 | -0.5% | -3.4% to +1.4% | 33% | -4.5% to +1.5% | 0.0% |
| Day +2 | 12 | -1.5% | -3.9% to +1.7% | 33% | -6.6% to +3.3% | 0.0% |
| Day +3 | 12 | -2.6% | -3.8% to +5.0% | 42% | -4.1% to +8.2% | 0.0% |
| Day +4 | 12 | -1.3% | -4.7% to +6.5% | 42% | -7.7% to +9.5% | 0.0% |
| Day +5 | 12 | +0.9% | -3.7% to +6.1% | 58% | -5.4% to +6.1% | 0.0% |
| Day +6 | 12 | +0.1% | -3.6% to +6.9% | 50% | -4.3% to +7.0% | 0.0% |
| Day +7 | 12 | +5.0% | -1.8% to +9.2% | 58% | -5.8% to +10.1% | 0.0% |
| Day +8 | 12 | +4.6% | -5.1% to +9.2% | 58% | -7.2% to +9.7% | 0.0% |
| Day +9 | 11 | +5.8% | -1.7% to +11.6% | 64% | -2.3% to +11.8% | 0.0% |
| Day +10 | 11 | +4.1% | -2.3% to +11.5% | 64% | -3.0% to +13.0% | 0.0% |
Crosses above gamma max 13 completed Day +10 paths · latest Apr 22, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 13 | -1.4% | -3.0% to +1.1% | 38% | -3.0% to +1.1% | 0.0% |
| Day +2 | 13 | -2.6% | -4.2% to +5.2% | 31% | -4.2% to +5.2% | 0.0% |
| Day +3 | 13 | -1.8% | -6.3% to +5.3% | 46% | -6.3% to +5.3% | 0.0% |
| Day +4 | 13 | +0.7% | -5.9% to +5.2% | 54% | -5.9% to +5.2% | 0.0% |
| Day +5 | 13 | +0.7% | -5.9% to +5.7% | 54% | -5.9% to +5.7% | 0.0% |
| Day +6 | 13 | +2.2% | -5.1% to +6.0% | 62% | -5.1% to +6.0% | 0.0% |
| Day +7 | 13 | +3.3% | -5.3% to +4.8% | 69% | -5.3% to +4.8% | 0.0% |
| Day +8 | 13 | +2.3% | -8.4% to +5.0% | 69% | -8.4% to +5.0% | 0.0% |
| Day +9 | 13 | +5.5% | -5.2% to +6.2% | 62% | -5.2% to +6.2% | 0.0% |
| Day +10 | 13 | +6.2% | -3.7% to +9.7% | 69% | -3.7% to +9.7% | 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 | 3% |
| Gamma max crosses | 8 |
| Delta neutral crosses | 26 |
| Prior-year sessions closer to gamma max | 29.8% of 252 |
| Prior-year sessions closer to delta neutral | 60.3% of 252 |
| Open interest percentile (1y) | 58th |
| Daily open interest change versus prior year | -1.50σ (-65,404 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +3.8% |
| Open interest change, 21 sessions | +2.8% |
| History available | Sep 19, 2023 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 333.20 vs 339.19 (-1.8%)
- closed above gamma max at 322.90 vs 308.79 (+4.4%)
- closed above delta neutral at 264.90 vs 252.29 (+4.8%)
- closed below delta neutral at 239.01 vs 246.29 (-3.0%)
- closed above delta neutral at 261.53 vs 251.89 (+3.7%)
- closed below delta neutral at 239.05 vs 249.89 (-4.5%)
- closed above delta neutral at 255.38 vs 254.33 (+0.4%)
- closed below delta neutral at 253.32 vs 266.80 (-5.3%)
- closed above delta neutral at 280.56 vs 262.84 (+6.3%)
- closed below delta neutral at 260.01 vs 270.16 (-3.9%)
In today's screens
Neighbours by open interest
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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/ARM
Questions people ask about ARM
Where is ARM's gamma max today?
As of Oct 2, 2026, the gamma max for ARM is 345.85, +12.5% from the 307.49 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 ARM above or below its delta neutral price?
ARM closed above delta neutral: 307.49 against a delta neutral price of 279.42. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does ARM have?
810,725 contracts of open interest across 1,682 listed contracts on Oct 2, 2026, -7.5% 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.