Data through close

BTC max pain, gamma exposure (GEX) & options open interest

As of close · rank #1144 by open interest · snapshot page

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BTC's nearest-expiration max pain is 35.00 for 2026-10-16, its GEX flip is 22.34, net GEX is 3,458,697, its put/call open-interest ratio is 0.28. These are whole-chain derived aggregates as of Oct 2, 2026 close.

Close
37.25
prev 37.44
Gamma max
39.39
+5.7% from close
Delta neutral
30.73
-17.5% from close
Gamma neutral
22.34
-40.0% from close
Open interest
38,390
-0.2% vs prev
Contracts listed
278
191 calls · 130 puts

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.

Nearest max pain
35.00
-6.0% from close
2026-10-16
GEX flip
22.34
-40.0% from close
Net GEX
3,458,697
9,009,369 per 100k OI
Call wall
42.00
+12.8% from close
Put wall
38.00
+2.0% from close
Put/call OI
0.28
8,369 puts / 30,021 calls

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.

Catalyst intensity
–
cross-sectional score / 100
Directional score
–
IV rank
19.0
within trailing 52-week range
Front / back ATM IV
+34.0% / +38.8%
-4.8 pp front premium
Expected move
+6.7%
14 DTE · one standard deviation
ATM straddle / spot
+5.0%
front-window midpoint premium
25Δ risk reversal
-13.9 pp
put IV minus call IV
IV butterfly
6.0 pp
front-window smile convexity
Volume / open interest
0.02
631 contracts traded
Normalized net delta
0.273
option-holder convention
Modeled dealer delta
-0.273
opposite-side scenario
Vanna / 100k OI
2,527
volatility-sensitive delta
Charm / 100k OI
-304,329
time-decay-sensitive delta
IV surface range
88.3 pp
published contour maximum minus minimum

Download the complete dated analysis JSON .

BTC closed 5.7% below its gamma max of 39.39. It is 17.5% above the delta neutral price of 30.73. Total open interest is 38,390, -0.2% versus the previous session. What gamma max means · What delta neutral means

History

Full history since 2020: drag to pan, scroll to zoom, hover for values. Open full-screen chart

Analysis visualizations

Derived from the 2026-10-02 options chain. Select an analysis to explore its chart.

Gamma walls

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In today's screens

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Neighbours by open interest

← AAOX (#1143) PSNL (#1145) →

Questions people ask about BTC

Where is BTC's gamma max today?

As of Oct 2, 2026, the gamma max for BTC is 39.39, +5.7% from the 37.25 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 BTC above or below its delta neutral price?

BTC closed above delta neutral: 37.25 against a delta neutral price of 30.73. The delta neutral price is where the summed delta of the whole chain is zero; the definition.

How much open interest does BTC have?

38,390 contracts of open interest across 278 listed contracts on Oct 2, 2026, -0.2% 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.