BITX max pain, gamma exposure (GEX) & options open interest
As of close · rank #436 by open interest · 700 sessions of history since Aug 16, 2023
BITX's nearest-expiration max pain is 19.00 for 2026-10-09, its GEX flip is 14.14, net GEX is 4,770,693, its put/call open-interest ratio is 0.38. 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 0.09 · smile convexity -9.9 pp
BITX closed 9.1% below its gamma max of 21.74. It is 19.1% above the delta neutral price of 16.12. Total open interest is 180,666, -7.1% versus the previous session. Its options catalyst-intensity score is 47.3 out of 100, led by volume/OI 0.09, smile convexity -9.9 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 | -9,504 contracts · -6.8% |
| Put OI change, 1 session | -4,392 contracts · -8.1% |
| Call minus put OI growth, 1 session | +1.3 pp |
| Call OI change, 5 sessions | -1,442 contracts · -1.1% |
| Put OI change, 5 sessions | -1,751 contracts · -3.4% |
| Call minus put OI growth, 5 sessions | +2.3 pp |
| Daily call OI change surprise | -0.79σ (252 prior changes) |
| Daily put OI change surprise | -0.76σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.35σ (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 23 completed Day +10 paths · latest Sep 22, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 24 | -0.2% | -3.0% to +2.4% | 50% | -2.9% to +2.2% | 0.0% |
| Day +2 | 24 | -0.6% | -4.7% to +3.3% | 46% | -4.4% to +2.2% | 0.0% |
| Day +3 | 24 | -0.6% | -4.0% to +2.0% | 42% | -3.5% to +1.4% | 0.0% |
| Day +4 | 24 | -1.3% | -7.1% to +3.5% | 38% | -6.5% to +1.8% | 0.0% |
| Day +5 | 24 | -0.4% | -9.8% to +4.0% | 46% | -7.5% to +3.1% | 0.0% |
| Day +6 | 24 | -0.8% | -7.3% to +7.5% | 50% | -6.0% to +4.9% | 0.0% |
| Day +7 | 24 | +1.6% | -8.5% to +10.7% | 50% | -8.3% to +7.1% | 0.0% |
| Day +8 | 24 | +0.4% | -7.3% to +10.7% | 50% | -5.2% to +9.1% | 0.0% |
| Day +9 | 23 | +0.9% | -5.9% to +13.5% | 52% | -4.6% to +7.2% | 0.0% |
| Day +10 | 23 | -0.1% | -5.5% to +13.9% | 43% | -3.8% to +10.1% | 0.0% |
Crosses above gamma max 21 completed Day +10 paths · latest Sep 21, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 22 | +1.3% | -0.6% to +4.2% | 64% | -0.5% to +3.9% | 0.0% |
| Day +2 | 22 | -1.8% | -4.5% to +3.8% | 41% | -3.9% to +1.4% | 0.0% |
| Day +3 | 22 | +1.2% | -6.3% to +8.0% | 55% | -4.9% to +6.8% | 0.0% |
| Day +4 | 22 | +3.4% | -4.8% to +7.9% | 59% | -4.2% to +7.8% | 0.0% |
| Day +5 | 22 | +4.1% | -5.6% to +10.3% | 55% | -4.2% to +9.8% | 0.0% |
| Day +6 | 22 | +5.3% | -6.2% to +17.8% | 68% | -5.5% to +14.7% | 0.0% |
| Day +7 | 22 | +8.1% | -4.6% to +17.1% | 64% | -2.5% to +14.1% | 0.0% |
| Day +8 | 22 | +8.0% | -5.0% to +16.8% | 59% | -4.8% to +11.6% | 0.0% |
| Day +9 | 22 | +2.7% | -7.7% to +23.6% | 59% | -5.7% to +17.1% | 0.0% |
| Day +10 | 21 | +9.5% | -7.2% to +30.0% | 62% | -1.8% to +25.8% | 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 | 13 |
| Delta neutral crosses | 26 |
| Prior-year sessions closer to gamma max | 34.1% of 252 |
| Prior-year sessions closer to delta neutral | 94.0% of 252 |
| Open interest percentile (1y) | 10th |
| Daily open interest change versus prior year | -0.80σ (-13,896 contracts; 252 prior changes) |
| Open interest change, 5 sessions | -1.7% |
| Open interest change, 21 sessions | -21.4% |
| History available | Aug 16, 2023 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 21.01 vs 21.53 (-2.5%)
- closed above gamma max at 21.11 vs 19.71 (+6.7%)
- closed below gamma max at 17.18 vs 17.95 (-4.5%)
- closed above gamma max at 13.66 vs 13.55 (+0.8%)
- closed below gamma max at 12.87 vs 13.19 (-2.5%)
- closed above gamma max at 13.09 vs 13.08 (+0.1%)
- closed above delta neutral at 11.31 vs 10.72 (+5.2%)
- closed below delta neutral at 11.70 vs 11.88 (-1.6%)
- closed above delta neutral at 11.96 vs 11.35 (+5.1%)
- closed below delta neutral at 12.48 vs 12.53 (-0.4%)
In today's screens
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Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/BITX
Questions people ask about BITX
Where is BITX's gamma max today?
As of Oct 2, 2026, the gamma max for BITX is 21.74, +9.1% from the 19.92 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 BITX above or below its delta neutral price?
BITX closed above delta neutral: 19.92 against a delta neutral price of 16.12. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does BITX have?
180,666 contracts of open interest across 609 listed contracts on Oct 2, 2026, -7.1% 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.