BULL max pain, gamma exposure (GEX) & options open interest
As of close · rank #103 by open interest · 362 sessions of history since Apr 28, 2025
BULL's nearest-expiration max pain is 7.50 for 2026-10-09, net GEX is 34,296,613, its put/call open-interest ratio is 0.20. 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.
BULL closed 17.8% below its gamma max of 8.65. It is 17.8% above the delta neutral price of 6.03. Total open interest is 964,339, -2.5% versus the previous session. Its options catalyst-intensity score is 49.6 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 | -19,026 contracts · -2.3% |
| Put OI change, 1 session | -5,225 contracts · -3.1% |
| Call minus put OI growth, 1 session | +0.8 pp |
| Call OI change, 5 sessions | +9,712 contracts · +1.2% |
| Put OI change, 5 sessions | +1,098 contracts · +0.7% |
| Call minus put OI growth, 5 sessions | +0.5 pp |
| Daily call OI change surprise | -0.39σ (252 prior changes) |
| Daily put OI change surprise | -0.23σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.16σ (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 8 completed Day +10 paths · latest Sep 1, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 8 | -2.1% | -3.9% to +0.0% | 25% | -4.2% to +1.0% | 0.0% |
| Day +2 | 8 | +2.9% | -2.4% to +6.4% | 63% | -2.8% to +8.2% | 0.0% |
| Day +3 | 8 | +3.7% | -1.0% to +8.9% | 63% | -4.1% to +10.6% | 0.0% |
| Day +4 | 8 | +2.8% | -3.2% to +9.8% | 63% | -7.3% to +12.2% | 0.0% |
| Day +5 | 8 | +3.4% | -2.4% to +6.7% | 75% | -11.8% to +6.7% | 0.0% |
| Day +6 | 8 | +4.2% | -7.1% to +9.1% | 63% | -14.4% to +12.5% | 0.0% |
| Day +7 | 8 | +2.7% | -2.1% to +10.9% | 75% | -11.2% to +13.6% | 0.0% |
| Day +8 | 8 | +6.0% | -2.7% to +13.5% | 63% | -7.8% to +13.7% | 0.0% |
| Day +9 | 8 | +1.0% | -4.5% to +13.4% | 50% | -5.1% to +13.9% | 0.0% |
| Day +10 | 8 | +1.2% | -7.5% to +10.5% | 50% | -15.8% to +10.9% | 0.0% |
Crosses above gamma max 7 completed Day +10 paths · latest Aug 27, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 7 | +2.6% | -1.2% to +11.4% | 57% | -2.1% to +17.0% | 0.0% |
| Day +2 | 7 | +1.3% | -1.7% to +8.5% | 57% | -3.6% to +13.9% | 0.0% |
| Day +3 | 7 | +1.3% | -1.8% to +9.2% | 71% | -6.9% to +17.6% | 0.0% |
| Day +4 | 7 | +2.3% | -3.0% to +13.6% | 57% | -6.0% to +22.9% | 0.0% |
| Day +5 | 7 | +5.3% | +3.3% to +9.8% | 86% | -6.4% to +20.6% | 0.0% |
| Day +6 | 7 | +5.9% | +1.9% to +12.0% | 86% | -9.6% to +24.9% | 0.0% |
| Day +7 | 7 | +7.1% | -0.3% to +13.7% | 57% | -15.6% to +18.7% | 0.0% |
| Day +8 | 7 | +2.0% | -3.3% to +10.9% | 57% | -16.5% to +32.2% | 0.0% |
| Day +9 | 7 | -2.8% | -3.4% to +12.1% | 43% | -17.3% to +34.9% | 0.0% |
| Day +10 | 7 | +2.7% | -2.7% to +16.5% | 57% | -24.8% to +22.0% | 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 | 3% |
| Gamma max crosses | 8 |
| Delta neutral crosses | 2 |
| Prior-year sessions closer to gamma max | 68.7% of 252 |
| Prior-year sessions closer to delta neutral | 40.5% of 252 |
| Open interest percentile (1y) | 38th |
| Daily open interest change versus prior year | -0.36σ (-24,251 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +1.1% |
| Open interest change, 21 sessions | -4.5% |
| History available | Apr 28, 2025 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 9.13 vs 9.21 (-0.9%)
- closed above gamma max at 9.57 vs 9.29 (+3.0%)
- closed below gamma max at 8.78 vs 8.96 (-2.0%)
- closed above gamma max at 8.85 vs 8.73 (+1.4%)
- closed below gamma max at 6.48 vs 6.59 (-1.7%)
- closed above gamma max at 5.82 vs 5.62 (+3.4%)
- closed below gamma max at 9.33 vs 10.47 (-12.2%)
- closed above gamma max at 9.26 vs 9.15 (+1.2%)
- closed above delta neutral at 8.25 vs 8.16 (+1.1%)
- closed below delta neutral at 8.63 vs 8.77 (-1.7%)
In today's screens
Neighbours by open interest
Cite or embed this snapshot
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Canonical source: https://halfonadouble.com/stock/BULL
Questions people ask about BULL
Where is BULL's gamma max today?
As of Oct 2, 2026, the gamma max for BULL is 8.65, +17.8% from the 7.34 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 BULL above or below its delta neutral price?
BULL closed above delta neutral: 7.34 against a delta neutral price of 6.03. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does BULL have?
964,339 contracts of open interest across 238 listed contracts on Oct 2, 2026, -2.5% 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.