AS max pain, gamma exposure (GEX) & options open interest
As of close · rank #408 by open interest · 583 sessions of history since Feb 23, 2024
AS's nearest-expiration max pain is 28.00 for 2026-10-09, net GEX is 10,512,213, its put/call open-interest ratio is 0.58. 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 15.9 pp
AS closed 9.7% below its gamma max of 29.82. It is 1.4% above the delta neutral price of 26.80. Total open interest is 198,565, -2.7% versus the previous session. Its options catalyst-intensity score is 36.2 out of 100, led by 25Δ risk reversal 15.9 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 | -4,981 contracts · -3.8% |
| Put OI change, 1 session | -455 contracts · -0.6% |
| Call minus put OI growth, 1 session | -3.2 pp |
| Call OI change, 5 sessions | +12,374 contracts · +10.9% |
| Put OI change, 5 sessions | +1,091 contracts · +1.5% |
| Call minus put OI growth, 5 sessions | +9.4 pp |
| Daily call OI change surprise | -0.48σ (252 prior changes) |
| Daily put OI change surprise | -0.12σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.19σ (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 16 completed Day +10 paths · latest Apr 20, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 16 | -0.7% | -1.8% to +0.9% | 31% | -1.5% to +0.8% | 0.0% |
| Day +2 | 16 | -0.7% | -2.5% to +1.1% | 31% | -2.5% to +1.0% | 0.0% |
| Day +3 | 16 | -1.1% | -4.5% to +1.7% | 44% | -4.4% to +1.7% | 0.0% |
| Day +4 | 16 | +0.3% | -2.6% to +2.4% | 56% | -2.4% to +2.3% | 0.0% |
| Day +5 | 16 | -0.3% | -3.6% to +4.3% | 44% | -3.6% to +4.3% | 0.0% |
| Day +6 | 16 | +0.1% | -5.2% to +5.5% | 50% | -5.2% to +5.4% | 0.0% |
| Day +7 | 16 | +0.3% | -7.4% to +6.4% | 50% | -6.9% to +6.3% | 0.0% |
| Day +8 | 16 | -1.6% | -5.8% to +5.8% | 44% | -5.3% to +5.1% | 0.0% |
| Day +9 | 16 | -1.0% | -5.2% to +7.2% | 50% | -4.9% to +5.5% | 0.0% |
| Day +10 | 16 | -0.1% | -7.1% to +8.6% | 50% | -7.0% to +8.2% | 0.0% |
Crosses above gamma max 16 completed Day +10 paths · latest Apr 8, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 16 | -0.2% | -1.1% to +0.7% | 44% | -1.0% to +0.5% | 0.0% |
| Day +2 | 16 | -1.2% | -3.2% to +0.7% | 38% | -2.9% to +0.4% | 0.0% |
| Day +3 | 16 | -1.0% | -2.5% to +4.0% | 38% | -2.2% to +3.7% | 0.0% |
| Day +4 | 16 | -1.7% | -6.1% to +4.3% | 44% | -6.1% to +3.5% | 0.0% |
| Day +5 | 16 | -2.3% | -4.8% to +4.1% | 44% | -4.7% to +3.8% | 0.0% |
| Day +6 | 16 | -2.0% | -5.0% to +4.6% | 44% | -4.9% to +3.3% | 0.0% |
| Day +7 | 16 | +0.2% | -4.4% to +5.1% | 50% | -3.6% to +4.8% | 0.0% |
| Day +8 | 16 | -0.4% | -5.1% to +8.1% | 50% | -4.5% to +8.0% | 0.0% |
| Day +9 | 16 | -1.4% | -5.8% to +5.5% | 50% | -5.6% to +5.1% | 0.0% |
| Day +10 | 16 | -2.0% | -5.7% to +6.6% | 44% | -5.7% to +5.6% | 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 | 11% |
| Gamma max crosses | 16 |
| Delta neutral crosses | 26 |
| Prior-year sessions closer to gamma max | 52.0% of 252 |
| Prior-year sessions closer to delta neutral | 9.9% of 252 |
| Open interest percentile (1y) | 91th |
| Daily open interest change versus prior year | -0.41σ (-5,436 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +7.3% |
| Open interest change, 21 sessions | -20.0% |
| History available | Feb 23, 2024 → Oct 2, 2026 |
Recent crosses
- closed above delta neutral at 26.73 vs 26.44 (+1.1%)
- closed below delta neutral at 26.62 vs 27.70 (-4.1%)
- closed above delta neutral at 27.55 vs 27.40 (+0.5%)
- closed below delta neutral at 27.77 vs 28.24 (-1.7%)
- closed above delta neutral at 29.53 vs 28.55 (+3.3%)
- closed below delta neutral at 28.56 vs 29.02 (-1.6%)
- closed above delta neutral at 32.60 vs 31.00 (+4.9%)
- closed below delta neutral at 33.03 vs 33.53 (-1.5%)
- closed above delta neutral at 33.92 vs 33.80 (+0.3%)
- closed below delta neutral at 33.30 vs 33.87 (-1.7%)
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/AS
Questions people ask about AS
Where is AS's gamma max today?
As of Oct 2, 2026, the gamma max for AS is 29.82, +9.7% from the 27.17 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 AS above or below its delta neutral price?
AS closed above delta neutral: 27.17 against a delta neutral price of 26.80. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does AS have?
198,565 contracts of open interest across 217 listed contracts on Oct 2, 2026, -2.7% 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.