BFLY max pain, gamma exposure (GEX) & options open interest
As of close · rank #632 by open interest · 1,093 sessions of history since Feb 16, 2021
BFLY's nearest-expiration max pain is 7.50 for 2026-10-16, its GEX flip is 3.59, net GEX is 5,709,913, its put/call open-interest ratio is 0.23. 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 -189.6 pp · OI change 0.01σ
BFLY closed 4.1% below its gamma max of 9.31. It is 38.7% above the delta neutral price of 5.49. Total open interest is 101,567, +0.1% versus the previous session. Its options catalyst-intensity score is 37.7 out of 100, led by 25Δ risk reversal -189.6 pp, OI change 0.01σ. 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 | +142 contracts · +0.2% |
| Put OI change, 1 session | -41 contracts · -0.2% |
| Call minus put OI growth, 1 session | +0.4 pp |
| Call OI change, 5 sessions | +4,630 contracts · +5.9% |
| Put OI change, 5 sessions | +259 contracts · +1.4% |
| Call minus put OI growth, 5 sessions | +4.6 pp |
| Daily call OI change surprise | +0.02σ (252 prior changes) |
| Daily put OI change surprise | -0.08σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.17σ (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 56 completed Day +10 paths · latest Oct 1, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 58 | +0.3% | -2.9% to +3.3% | 52% | -0.6% to +1.3% | 0.0% |
| Day +2 | 57 | -1.8% | -4.8% to +4.5% | 39% | -2.7% to +1.4% | 0.0% |
| Day +3 | 57 | 0.0% | -6.7% to +4.0% | 47% | -3.3% to +1.3% | 0.0% |
| Day +4 | 57 | +1.3% | -6.3% to +6.7% | 51% | -4.1% to +3.6% | 0.0% |
| Day +5 | 57 | +2.1% | -9.4% to +9.1% | 54% | -4.9% to +4.8% | 0.0% |
| Day +6 | 57 | +1.3% | -9.7% to +11.1% | 53% | -4.8% to +3.8% | 0.0% |
| Day +7 | 56 | +0.7% | -10.0% to +11.6% | 52% | -3.6% to +4.1% | 0.0% |
| Day +8 | 56 | +1.6% | -8.7% to +13.0% | 54% | -3.0% to +5.9% | 0.0% |
| Day +9 | 56 | +0.9% | -9.1% to +12.0% | 50% | -4.3% to +7.5% | 0.0% |
| Day +10 | 56 | -0.1% | -10.8% to +18.7% | 50% | -4.4% to +6.7% | 0.0% |
Crosses above gamma max 47 completed Day +10 paths · latest Sep 28, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 49 | -0.5% | -4.6% to +3.2% | 47% | -1.7% to +2.1% | 0.0% |
| Day +2 | 49 | -1.9% | -5.1% to +4.7% | 43% | -3.6% to +1.8% | 0.0% |
| Day +3 | 49 | +1.3% | -6.8% to +7.8% | 53% | -2.9% to +3.3% | 0.0% |
| Day +4 | 49 | +0.4% | -7.9% to +5.2% | 51% | -4.5% to +4.4% | 0.0% |
| Day +5 | 48 | +0.9% | -8.2% to +7.7% | 52% | -7.1% to +5.8% | 0.0% |
| Day +6 | 48 | +1.5% | -6.7% to +7.7% | 52% | -3.6% to +5.3% | 0.0% |
| Day +7 | 48 | +1.8% | -10.8% to +9.2% | 56% | -3.2% to +5.6% | 0.0% |
| Day +8 | 48 | +0.2% | -6.7% to +12.4% | 50% | -3.2% to +5.3% | 0.0% |
| Day +9 | 47 | +2.0% | -6.3% to +15.6% | 55% | -2.8% to +6.7% | 0.0% |
| Day +10 | 47 | +1.2% | -9.4% to +14.6% | 53% | -4.3% to +8.4% | 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 | 41% |
| Gamma max crosses | 50 |
| Delta neutral crosses | 0 |
| Prior-year sessions closer to gamma max | 34.1% of 252 |
| Prior-year sessions closer to delta neutral | 23.8% of 252 |
| Open interest percentile (1y) | 71th |
| Daily open interest change versus prior year | +0.01σ (101 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +5.1% |
| Open interest change, 21 sessions | +23.4% |
| History available | Feb 16, 2021 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 8.53 vs 8.54 (-0.1%)
- closed above gamma max at 9.15 vs 8.94 (+2.3%)
- closed below gamma max at 9.41 vs 9.64 (-2.4%)
- closed above gamma max at 9.93 vs 9.44 (+5.0%)
- closed below gamma max at 7.88 vs 8.08 (-2.6%)
- closed above gamma max at 7.96 vs 7.79 (+2.2%)
- closed below gamma max at 8.43 vs 8.62 (-2.2%)
- closed above gamma max at 8.72 vs 8.72 (+0.0%)
- closed below gamma max at 8.64 vs 8.77 (-1.5%)
- closed above gamma max at 9.55 vs 9.54 (+0.2%)
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/BFLY
Questions people ask about BFLY
Where is BFLY's gamma max today?
As of Oct 2, 2026, the gamma max for BFLY is 9.31, +4.1% from the 8.95 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 BFLY above or below its delta neutral price?
BFLY closed above delta neutral: 8.95 against a delta neutral price of 5.49. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does BFLY have?
101,567 contracts of open interest across 67 listed contracts on Oct 2, 2026, +0.1% 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.