CAVA max pain, gamma exposure (GEX) & options open interest
As of close · rank #462 by open interest · 746 sessions of history since Jun 26, 2023
CAVA's nearest-expiration max pain is 55.00 for 2026-10-09, its GEX flip is 54.23, net GEX is 149,568, its put/call open-interest ratio is 0.74. 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: smile convexity 7.8 pp
CAVA closed 13.9% below its gamma max of 61.97. It is 5.1% below the delta neutral price of 57.20. Total open interest is 164,623, -3.6% versus the previous session. Its options catalyst-intensity score is 41.0 out of 100, led by smile convexity 7.8 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 | -4,934 contracts · -5.0% |
| Put OI change, 1 session | -1,153 contracts · -1.6% |
| Call minus put OI growth, 1 session | -3.3 pp |
| Call OI change, 5 sessions | +4,696 contracts · +5.2% |
| Put OI change, 5 sessions | +2,743 contracts · +4.1% |
| Call minus put OI growth, 5 sessions | +1.1 pp |
| Daily call OI change surprise | -0.50σ (252 prior changes) |
| Daily put OI change surprise | -0.10σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.79σ (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 6 completed Day +10 paths · latest Aug 13, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 6 | -0.1% | -2.0% to +2.0% | 33% | -4.9% to +3.1% | 0.0% |
| Day +2 | 6 | -2.5% | -3.2% to -1.7% | 0% | -7.1% to -0.2% | -0.2% |
| Day +3 | 6 | -3.3% | -5.5% to -0.6% | 17% | -12.2% to +1.5% | 0.0% |
| Day +4 | 6 | -1.9% | -4.4% to +1.0% | 33% | -12.4% to +5.1% | 0.0% |
| Day +5 | 6 | -1.1% | -2.4% to +1.2% | 33% | -12.7% to +5.6% | 0.0% |
| Day +6 | 6 | -0.3% | -3.2% to +2.6% | 50% | -6.6% to +4.9% | 0.0% |
| Day +7 | 6 | -1.4% | -4.8% to +1.6% | 33% | -5.6% to +8.7% | 0.0% |
| Day +8 | 6 | -3.6% | -4.5% to +2.1% | 33% | -6.7% to +10.0% | 0.0% |
| Day +9 | 6 | -4.5% | -6.0% to -3.3% | 17% | -6.4% to +12.8% | 0.0% |
| Day +10 | 6 | -5.1% | -7.1% to -2.8% | 17% | -11.7% to +14.8% | 0.0% |
Crosses below gamma max 6 completed Day +10 paths · latest Feb 26, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 6 | -2.2% | -2.6% to -0.7% | 17% | -3.1% to +1.7% | 0.0% |
| Day +2 | 6 | -2.1% | -5.6% to -0.4% | 17% | -7.7% to +5.3% | 0.0% |
| Day +3 | 6 | -2.7% | -6.6% to +0.8% | 33% | -9.1% to +5.8% | 0.0% |
| Day +4 | 6 | -0.9% | -5.3% to +1.6% | 50% | -8.2% to +5.1% | 0.0% |
| Day +5 | 6 | -2.0% | -3.1% to +1.4% | 33% | -6.3% to +5.5% | 0.0% |
| Day +6 | 6 | -1.6% | -4.6% to +2.9% | 33% | -7.3% to +11.6% | 0.0% |
| Day +7 | 6 | -3.3% | -4.4% to +0.5% | 33% | -6.5% to +12.9% | 0.0% |
| Day +8 | 6 | -3.4% | -5.1% to -1.4% | 17% | -6.2% to +15.7% | 0.0% |
| Day +9 | 6 | -2.9% | -4.6% to -1.9% | 17% | -11.5% to +17.8% | 0.0% |
| Day +10 | 6 | -0.0% | -4.6% to +13.9% | 50% | -11.8% to +24.3% | 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 | 2% |
| Gamma max crosses | 12 |
| Delta neutral crosses | 18 |
| Prior-year sessions closer to gamma max | 44.0% of 252 |
| Prior-year sessions closer to delta neutral | 34.9% of 252 |
| Open interest percentile (1y) | 62th |
| Daily open interest change versus prior year | -0.33σ (-6,087 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +4.7% |
| Open interest change, 21 sessions | +15.1% |
| History available | Jun 26, 2023 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 69.29 vs 69.77 (-0.7%)
- closed above delta neutral at 71.57 vs 69.99 (+2.2%)
- closed below delta neutral at 68.24 vs 68.84 (-0.9%)
- closed below gamma max at 74.46 vs 87.22 (-17.1%)
- closed above gamma max at 72.19 vs 71.70 (+0.7%)
- closed above delta neutral at 69.52 vs 66.41 (+4.5%)
- closed below delta neutral at 69.97 vs 70.58 (-0.9%)
- closed above delta neutral at 72.18 vs 72.06 (+0.2%)
- closed below delta neutral at 71.73 vs 71.89 (-0.2%)
- closed above delta neutral at 73.57 vs 71.52 (+2.8%)
In today's screens
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Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/CAVA
Questions people ask about CAVA
Where is CAVA's gamma max today?
As of Oct 2, 2026, the gamma max for CAVA is 61.97, +13.9% from the 54.41 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 CAVA above or below its delta neutral price?
CAVA closed below delta neutral: 54.41 against a delta neutral price of 57.20. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does CAVA have?
164,623 contracts of open interest across 599 listed contracts on Oct 2, 2026, -3.6% 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.