ASML max pain, gamma exposure (GEX) & options open interest
As of close · rank #459 by open interest · 1,393 sessions of history since Dec 1, 2020
ASML's nearest-expiration max pain is 1,740.00 for 2026-10-09, its GEX flip is 1,746.81, net GEX is 4,662,952, its put/call open-interest ratio is 1.12. 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: volume/OI 0.13 · IV rank 94
ASML closed 4.8% below its gamma max of 1,956.66. It is 9.3% above the delta neutral price of 1,693.55. Total open interest is 166,080, -7.8% versus the previous session. Its options catalyst-intensity score is 44.9 out of 100, led by volume/OI 0.13, IV rank 94. 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 | -7,513 contracts · -8.8% |
| Put OI change, 1 session | -6,562 contracts · -7.0% |
| Call minus put OI growth, 1 session | -1.8 pp |
| Call OI change, 5 sessions | +2,009 contracts · +2.6% |
| Put OI change, 5 sessions | +2,485 contracts · +2.9% |
| Call minus put OI growth, 5 sessions | -0.3 pp |
| Daily call OI change surprise | -1.05σ (252 prior changes) |
| Daily put OI change surprise | -0.72σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.52σ (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 22 completed Day +10 paths · latest May 22, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 22 | -0.2% | -1.1% to +1.6% | 41% | -1.0% to +1.1% | 0.0% |
| Day +2 | 22 | -0.2% | -1.8% to +2.8% | 45% | -1.8% to +1.1% | 0.0% |
| Day +3 | 22 | -0.6% | -2.5% to +2.3% | 45% | -2.5% to +1.6% | 0.0% |
| Day +4 | 22 | -0.4% | -1.6% to +2.0% | 41% | -1.5% to +1.9% | 0.0% |
| Day +5 | 22 | +0.4% | -3.1% to +2.2% | 55% | -2.1% to +2.1% | 0.0% |
| Day +6 | 22 | +0.3% | -2.3% to +3.5% | 50% | -2.3% to +3.3% | 0.0% |
| Day +7 | 22 | +0.6% | -2.5% to +4.1% | 50% | -1.7% to +3.9% | 0.0% |
| Day +8 | 22 | +1.2% | -2.3% to +5.9% | 59% | -2.2% to +4.7% | 0.0% |
| Day +9 | 22 | +0.8% | -2.7% to +4.7% | 59% | -2.5% to +4.4% | 0.0% |
| Day +10 | 22 | +1.3% | -1.6% to +6.8% | 55% | -1.4% to +5.9% | 0.0% |
Crosses above gamma max 24 completed Day +10 paths · latest May 21, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 24 | -0.1% | -1.3% to +1.1% | 46% | -0.4% to +1.1% | 0.0% |
| Day +2 | 24 | +0.5% | -1.2% to +1.9% | 58% | -0.6% to +1.3% | 0.0% |
| Day +3 | 24 | -0.2% | -2.6% to +2.1% | 46% | -2.5% to +1.7% | 0.0% |
| Day +4 | 24 | +0.5% | -2.9% to +2.5% | 54% | -2.1% to +2.1% | 0.0% |
| Day +5 | 24 | +0.6% | -2.8% to +2.3% | 50% | -2.2% to +1.8% | 0.0% |
| Day +6 | 24 | +0.6% | -3.3% to +2.9% | 54% | -2.5% to +2.6% | 0.0% |
| Day +7 | 24 | +0.9% | -3.2% to +4.0% | 54% | -2.9% to +2.9% | 0.0% |
| Day +8 | 24 | +0.7% | -2.8% to +4.8% | 58% | -2.7% to +4.3% | 0.0% |
| Day +9 | 24 | +1.3% | -2.5% to +7.0% | 58% | -2.0% to +5.5% | 0.0% |
| Day +10 | 24 | +1.9% | -2.7% to +8.1% | 58% | -2.1% to +4.4% | 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 | 1% |
| Gamma max crosses | 7 |
| Delta neutral crosses | 22 |
| Prior-year sessions closer to gamma max | 18.7% of 252 |
| Prior-year sessions closer to delta neutral | 87.3% of 252 |
| Open interest percentile (1y) | 48th |
| Daily open interest change versus prior year | -0.88σ (-14,075 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +2.8% |
| Open interest change, 21 sessions | -6.9% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed above delta neutral at 1,679.28 vs 1,641.01 (+2.3%)
- closed below delta neutral at 1,575.15 vs 1,645.53 (-4.5%)
- closed above delta neutral at 1,714.88 vs 1,661.78 (+3.1%)
- closed below delta neutral at 1,646.19 vs 1,663.71 (-1.1%)
- closed above delta neutral at 1,682.30 vs 1,670.08 (+0.7%)
- closed below delta neutral at 1,665.14 vs 1,667.80 (-0.2%)
- closed above delta neutral at 1,651.44 vs 1,637.45 (+0.8%)
- closed below delta neutral at 1,655.26 vs 1,658.27 (-0.2%)
- closed below gamma max at 1,632.90 vs 1,710.62 (-4.8%)
- closed above gamma max at 1,592.00 vs 1,587.91 (+0.3%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/ASML
Questions people ask about ASML
Where is ASML's gamma max today?
As of Oct 2, 2026, the gamma max for ASML is 1,956.66, +4.8% from the 1,867.31 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 ASML above or below its delta neutral price?
ASML closed above delta neutral: 1,867.31 against a delta neutral price of 1,693.55. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does ASML have?
166,080 contracts of open interest across 3,228 listed contracts on Oct 2, 2026, -7.8% 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.