BHC max pain, gamma exposure (GEX) & options open interest
As of close · rank #446 by open interest · 1,393 sessions of history since Dec 1, 2020
BHC's nearest-expiration max pain is 1.00 for 2026-10-09, its GEX flip is 5.47, net GEX is 1,391,192, its put/call open-interest ratio is 1.89. 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.
BHC closed 5.5% below its gamma max of 6.12. It is 6.9% below the delta neutral price of 6.20. Total open interest is 174,627, -0.6% versus the previous session. Its options catalyst-intensity score is 41.9 out of 100. 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 | -531 contracts · -0.9% |
| Put OI change, 1 session | -549 contracts · -0.5% |
| Call minus put OI growth, 1 session | -0.4 pp |
| Call OI change, 5 sessions | +765 contracts · +1.3% |
| Put OI change, 5 sessions | -213 contracts · -0.2% |
| Call minus put OI growth, 5 sessions | +1.5 pp |
| Daily call OI change surprise | -0.23σ (252 prior changes) |
| Daily put OI change surprise | -0.19σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.07σ (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 above gamma max 23 completed Day +10 paths · latest Aug 14, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 23 | +0.4% | -1.2% to +1.3% | 57% | -0.1% to +1.2% | 0.0% |
| Day +2 | 23 | -0.2% | -1.8% to +2.1% | 39% | -1.2% to +1.3% | 0.0% |
| Day +3 | 23 | -1.3% | -3.0% to +2.3% | 43% | -2.6% to +1.0% | 0.0% |
| Day +4 | 23 | -1.7% | -4.2% to +2.8% | 43% | -3.8% to +2.5% | 0.0% |
| Day +5 | 23 | +0.5% | -4.6% to +3.4% | 52% | -4.0% to +3.0% | 0.0% |
| Day +6 | 23 | -1.1% | -4.1% to +3.2% | 43% | -3.5% to +2.6% | 0.0% |
| Day +7 | 23 | -0.6% | -5.6% to +3.5% | 43% | -3.7% to +1.8% | 0.0% |
| Day +8 | 23 | -1.3% | -5.9% to +2.3% | 39% | -5.0% to +0.8% | 0.0% |
| Day +9 | 23 | -1.5% | -4.9% to +2.9% | 30% | -3.7% to -0.1% | -0.1% |
| Day +10 | 23 | -0.4% | -7.7% to +3.0% | 48% | -4.7% to +1.3% | 0.0% |
Crosses below gamma max 23 completed Day +10 paths · latest Aug 12, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 23 | -0.8% | -1.8% to +1.2% | 39% | -1.6% to +0.7% | 0.0% |
| Day +2 | 23 | -0.4% | -2.5% to +1.8% | 43% | -2.3% to +0.6% | 0.0% |
| Day +3 | 23 | -1.3% | -3.1% to +1.1% | 39% | -2.8% to +0.8% | 0.0% |
| Day +4 | 23 | -1.8% | -5.9% to +2.3% | 43% | -4.0% to +1.1% | 0.0% |
| Day +5 | 23 | -1.6% | -5.2% to +1.4% | 39% | -3.8% to +0.9% | 0.0% |
| Day +6 | 23 | -1.0% | -6.5% to +2.2% | 39% | -4.4% to +0.7% | 0.0% |
| Day +7 | 23 | -2.5% | -7.6% to +1.5% | 39% | -4.3% to +0.5% | 0.0% |
| Day +8 | 23 | -1.7% | -9.2% to +2.2% | 43% | -4.3% to +1.2% | 0.0% |
| Day +9 | 23 | -3.6% | -9.4% to +2.3% | 30% | -7.7% to -0.1% | -0.1% |
| Day +10 | 23 | -2.8% | -9.9% to +3.0% | 35% | -7.3% to +1.4% | 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 | 4% |
| Gamma max crosses | 6 |
| Delta neutral crosses | 18 |
| Prior-year sessions closer to gamma max | 4.8% of 252 |
| Prior-year sessions closer to delta neutral | 50.8% of 252 |
| Open interest percentile (1y) | 82th |
| Daily open interest change versus prior year | -0.23σ (-1,080 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +0.3% |
| Open interest change, 21 sessions | -0.3% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 5.67 vs 6.31 (-11.2%)
- closed above delta neutral at 5.92 vs 5.90 (+0.3%)
- closed below delta neutral at 6.43 vs 6.46 (-0.4%)
- closed above delta neutral at 6.83 vs 6.69 (+2.0%)
- closed below delta neutral at 6.73 vs 6.73 (-0.1%)
- closed above delta neutral at 6.68 vs 6.65 (+0.4%)
- closed below delta neutral at 6.44 vs 6.58 (-2.2%)
- closed below gamma max at 6.89 vs 7.07 (-2.7%)
- closed above gamma max at 6.51 vs 6.28 (+3.6%)
- closed below gamma max at 6.21 vs 6.25 (-0.6%)
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/BHC
Questions people ask about BHC
Where is BHC's gamma max today?
As of Oct 2, 2026, the gamma max for BHC is 6.12, +5.5% from the 5.80 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 BHC above or below its delta neutral price?
BHC closed below delta neutral: 5.80 against a delta neutral price of 6.20. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does BHC have?
174,627 contracts of open interest across 92 listed contracts on Oct 2, 2026, -0.6% 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.