BTBT max pain, gamma exposure (GEX) & options open interest
As of close · rank #239 by open interest · 1,350 sessions of history since Jan 14, 2021
BTBT's nearest-expiration max pain is 1.50 for 2026-10-09, its GEX flip is 0.21, net GEX is 9,758,433, its put/call open-interest ratio is 0.28. 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 -32.4 pp
BTBT closed 15.5% below its gamma max of 1.88. It is 22.8% above the delta neutral price of 1.26. Total open interest is 425,184, -1.0% versus the previous session. Its options catalyst-intensity score is 41.5 out of 100, led by 25Δ risk reversal -32.4 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 | -4,713 contracts · -1.4% |
| Put OI change, 1 session | +209 contracts · +0.2% |
| Call minus put OI growth, 1 session | -1.6 pp |
| Call OI change, 5 sessions | +12,668 contracts · +4.0% |
| Put OI change, 5 sessions | +2,584 contracts · +2.8% |
| Call minus put OI growth, 5 sessions | +1.1 pp |
| Daily call OI change surprise | -0.16σ (252 prior changes) |
| Daily put OI change surprise | +0.05σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.49σ (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 51 completed Day +10 paths · latest Sep 3, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 51 | +0.6% | -3.4% to +2.9% | 51% | -1.2% to +2.0% | 0.0% |
| Day +2 | 51 | 0.0% | -3.0% to +4.6% | 49% | -1.2% to +2.5% | 0.0% |
| Day +3 | 51 | +0.6% | -4.2% to +7.7% | 51% | -2.1% to +3.6% | 0.0% |
| Day +4 | 51 | +0.2% | -7.0% to +9.3% | 51% | -4.3% to +3.0% | 0.0% |
| Day +5 | 51 | -1.7% | -7.8% to +11.1% | 45% | -5.6% to +4.0% | 0.0% |
| Day +6 | 51 | -0.3% | -7.6% to +12.7% | 49% | -4.3% to +6.4% | 0.0% |
| Day +7 | 51 | -0.3% | -9.1% to +13.7% | 47% | -4.9% to +2.3% | 0.0% |
| Day +8 | 51 | +0.4% | -9.3% to +13.9% | 51% | -4.4% to +6.9% | 0.0% |
| Day +9 | 51 | -1.0% | -10.9% to +13.4% | 45% | -6.1% to +5.9% | 0.0% |
| Day +10 | 51 | +2.3% | -12.3% to +16.8% | 57% | -5.4% to +6.5% | 0.0% |
Crosses below gamma max 60 completed Day +10 paths · latest Jun 24, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 60 | +0.6% | -2.5% to +3.6% | 55% | -0.4% to +2.2% | 0.0% |
| Day +2 | 60 | +0.6% | -3.9% to +7.1% | 57% | -1.3% to +1.4% | 0.0% |
| Day +3 | 60 | +0.7% | -5.0% to +8.1% | 52% | -1.7% to +4.6% | 0.0% |
| Day +4 | 60 | +1.1% | -6.8% to +9.0% | 52% | -1.5% to +3.2% | 0.0% |
| Day +5 | 60 | +0.1% | -8.8% to +8.6% | 50% | -3.0% to +5.8% | 0.0% |
| Day +6 | 60 | +0.4% | -10.3% to +10.9% | 50% | -5.8% to +3.1% | 0.0% |
| Day +7 | 60 | -0.9% | -11.9% to +11.4% | 48% | -5.8% to +5.2% | 0.0% |
| Day +8 | 60 | -3.0% | -13.0% to +14.2% | 47% | -5.6% to +5.5% | 0.0% |
| Day +9 | 60 | -1.1% | -14.2% to +13.4% | 45% | -6.8% to +2.6% | 0.0% |
| Day +10 | 60 | -2.7% | -12.0% to +12.8% | 42% | -4.9% to +0.5% | 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 | 10% |
| Gamma max crosses | 19 |
| Delta neutral crosses | 0 |
| Prior-year sessions closer to gamma max | 36.9% of 252 |
| Prior-year sessions closer to delta neutral | 22.2% of 252 |
| Open interest percentile (1y) | 63th |
| Daily open interest change versus prior year | -0.13σ (-4,504 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +3.7% |
| Open interest change, 21 sessions | +14.9% |
| History available | Jan 14, 2021 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 1.64 vs 1.84 (-12.0%)
- closed above gamma max at 1.63 vs 1.51 (+7.4%)
- closed below gamma max at 1.92 vs 2.03 (-5.2%)
- closed above gamma max at 2.02 vs 2.01 (+0.7%)
- closed below gamma max at 1.98 vs 2.02 (-2.2%)
- closed above gamma max at 2.11 vs 2.01 (+4.3%)
- closed below gamma max at 2.03 vs 2.03 (-0.2%)
- closed above gamma max at 2.02 vs 1.99 (+1.3%)
- closed below gamma max at 2.13 vs 2.16 (-1.5%)
- closed above gamma max at 2.03 vs 2.00 (+1.7%)
In today's screens
Neighbours by open interest
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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/BTBT
Questions people ask about BTBT
Where is BTBT's gamma max today?
As of Oct 2, 2026, the gamma max for BTBT is 1.88, +15.5% from the 1.63 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 BTBT above or below its delta neutral price?
BTBT closed above delta neutral: 1.63 against a delta neutral price of 1.26. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does BTBT have?
425,184 contracts of open interest across 121 listed contracts on Oct 2, 2026, -1.0% 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.