BA max pain, gamma exposure (GEX) & options open interest
As of close · rank #122 by open interest · 1,393 sessions of history since Dec 1, 2020
BA's nearest-expiration max pain is 190.00 for 2026-10-09, its GEX flip is 191.91, net GEX is 3,791,105, its put/call open-interest ratio is 0.80. 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 0.21 · front IV premium -0.3 pp · IV rank 89
BA closed 16.8% below its gamma max of 226.04. It is 2.7% below the delta neutral price of 198.69. Total open interest is 825,736, -5.8% versus the previous session. Its options catalyst-intensity score is 54.5 out of 100, led by volume/OI 0.21, front IV premium -0.3 pp, IV rank 89. 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 | -29,742 contracts · -6.1% |
| Put OI change, 1 session | -20,913 contracts · -5.4% |
| Call minus put OI growth, 1 session | -0.7 pp |
| Call OI change, 5 sessions | +59,613 contracts · +14.9% |
| Put OI change, 5 sessions | +14,921 contracts · +4.3% |
| Call minus put OI growth, 5 sessions | +10.6 pp |
| Daily call OI change surprise | -1.01σ (252 prior changes) |
| Daily put OI change surprise | -0.98σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.36σ (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 10 completed Day +10 paths · latest Jan 14, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 10 | +1.1% | +0.4% to +2.1% | 80% | -2.1% to +2.3% | 0.0% |
| Day +2 | 10 | +2.0% | +0.5% to +2.8% | 80% | -0.1% to +3.5% | 0.0% |
| Day +3 | 10 | +1.5% | +0.8% to +2.4% | 80% | -0.3% to +3.1% | 0.0% |
| Day +4 | 10 | +1.3% | +0.2% to +2.7% | 80% | -1.0% to +4.7% | 0.0% |
| Day +5 | 10 | +2.2% | -0.5% to +3.8% | 70% | -1.0% to +4.6% | 0.0% |
| Day +6 | 10 | +1.9% | -0.6% to +3.7% | 70% | -1.8% to +4.7% | 0.0% |
| Day +7 | 10 | +1.7% | +0.1% to +3.2% | 70% | -1.4% to +5.4% | 0.0% |
| Day +8 | 10 | +0.9% | +0.2% to +4.0% | 80% | -2.9% to +6.5% | 0.0% |
| Day +9 | 10 | +0.9% | -2.6% to +5.1% | 60% | -4.9% to +9.6% | 0.0% |
| Day +10 | 10 | +0.6% | -5.1% to +4.6% | 50% | -5.7% to +13.0% | 0.0% |
Crosses above gamma max 10 completed Day +10 paths · latest Jan 13, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 10 | +0.1% | -1.3% to +1.3% | 50% | -1.9% to +2.7% | 0.0% |
| Day +2 | 10 | +1.5% | +0.6% to +1.6% | 90% | +0.1% to +2.5% | +0.1% |
| Day +3 | 10 | +1.8% | +1.1% to +2.6% | 80% | -0.3% to +2.8% | 0.0% |
| Day +4 | 10 | +1.7% | +0.3% to +2.3% | 70% | -2.2% to +4.0% | 0.0% |
| Day +5 | 10 | +1.9% | -0.3% to +2.4% | 60% | -0.6% to +7.4% | 0.0% |
| Day +6 | 10 | +1.8% | -0.3% to +4.0% | 70% | -2.0% to +5.6% | 0.0% |
| Day +7 | 10 | +1.9% | -0.3% to +4.0% | 70% | -2.7% to +7.1% | 0.0% |
| Day +8 | 10 | +1.9% | -0.5% to +2.4% | 70% | -2.3% to +6.4% | 0.0% |
| Day +9 | 10 | +0.7% | -0.7% to +2.1% | 70% | -1.7% to +7.1% | 0.0% |
| Day +10 | 10 | +1.9% | -1.3% to +5.6% | 60% | -2.5% to +7.0% | 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 | 0% |
| Gamma max crosses | 2 |
| Delta neutral crosses | 15 |
| Prior-year sessions closer to gamma max | 78.6% of 252 |
| Prior-year sessions closer to delta neutral | 31.3% of 252 |
| Open interest percentile (1y) | 33th |
| Daily open interest change versus prior year | -1.01σ (-50,655 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +9.9% |
| Open interest change, 21 sessions | +6.2% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 215.10 vs 219.93 (-2.2%)
- closed above delta neutral at 221.56 vs 214.50 (+3.2%)
- closed below delta neutral at 214.34 vs 215.17 (-0.4%)
- closed above delta neutral at 217.11 vs 215.53 (+0.7%)
- closed below delta neutral at 215.51 vs 215.99 (-0.2%)
- closed above delta neutral at 221.13 vs 215.90 (+2.4%)
- closed below delta neutral at 209.10 vs 213.30 (-2.0%)
- closed above delta neutral at 217.40 vs 213.23 (+1.9%)
- closed below delta neutral at 210.74 vs 213.12 (-1.1%)
- closed above delta neutral at 207.32 vs 204.03 (+1.6%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/BA
Questions people ask about BA
Where is BA's gamma max today?
As of Oct 2, 2026, the gamma max for BA is 226.04, +16.8% from the 193.56 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 BA above or below its delta neutral price?
BA closed below delta neutral: 193.56 against a delta neutral price of 198.69. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does BA have?
825,736 contracts of open interest across 1,149 listed contracts on Oct 2, 2026, -5.8% 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.