CCJ max pain, gamma exposure (GEX) & options open interest
As of close · rank #242 by open interest · 1,394 sessions of history since Dec 1, 2020
CCJ's nearest-expiration max pain is 92.00 for 2026-10-09, its GEX flip is 94.77, net GEX is -44,843,806, its put/call open-interest ratio is 1.30. 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: IV rank 100 · smile convexity 9.9 pp
CCJ closed 27.8% below its gamma max of 108.89. It is 8.2% below the delta neutral price of 92.19. Total open interest is 417,979, -5.1% versus the previous session. Its options catalyst-intensity score is 52.0 out of 100, led by IV rank 100, 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 | -5,990 contracts · -3.2% |
| Put OI change, 1 session | -16,336 contracts · -6.5% |
| Call minus put OI growth, 1 session | +3.3 pp |
| Call OI change, 5 sessions | +4,437 contracts · +2.5% |
| Put OI change, 5 sessions | -5,729 contracts · -2.4% |
| Call minus put OI growth, 5 sessions | +4.9 pp |
| Daily call OI change surprise | -0.54σ (252 prior changes) |
| Daily put OI change surprise | -1.10σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.85σ (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 31 completed Day +10 paths · latest Jan 29, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 31 | -0.5% | -2.6% to +1.1% | 39% | -1.8% to +0.6% | 0.0% |
| Day +2 | 31 | -1.9% | -2.7% to +0.1% | 26% | -2.4% to -0.8% | -0.8% |
| Day +3 | 31 | -1.6% | -3.9% to +1.1% | 35% | -3.0% to +0.2% | 0.0% |
| Day +4 | 31 | -1.1% | -5.7% to +1.9% | 45% | -3.8% to +1.3% | 0.0% |
| Day +5 | 31 | -0.8% | -5.4% to +2.9% | 48% | -3.3% to +2.2% | 0.0% |
| Day +6 | 31 | -0.8% | -4.7% to +3.9% | 45% | -3.8% to +2.8% | 0.0% |
| Day +7 | 31 | -0.4% | -5.8% to +5.0% | 42% | -3.9% to +2.3% | 0.0% |
| Day +8 | 31 | +0.1% | -6.7% to +5.0% | 52% | -4.0% to +3.2% | 0.0% |
| Day +9 | 31 | +0.3% | -5.3% to +5.0% | 55% | -2.9% to +3.6% | 0.0% |
| Day +10 | 31 | -0.1% | -6.7% to +5.0% | 45% | -2.9% to +3.2% | 0.0% |
Crosses above gamma max 33 completed Day +10 paths · latest Jan 28, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 33 | -0.3% | -1.6% to +1.7% | 36% | -1.0% to +0.6% | 0.0% |
| Day +2 | 33 | -0.7% | -4.0% to +1.9% | 42% | -2.0% to +0.8% | 0.0% |
| Day +3 | 33 | -1.6% | -4.1% to +2.8% | 30% | -3.7% to -0.1% | -0.1% |
| Day +4 | 33 | -1.5% | -5.0% to +2.6% | 36% | -2.6% to +0.5% | 0.0% |
| Day +5 | 33 | -0.0% | -5.5% to +2.6% | 48% | -3.4% to +0.9% | 0.0% |
| Day +6 | 33 | +0.3% | -5.2% to +2.5% | 52% | -3.4% to +1.5% | 0.0% |
| Day +7 | 33 | -2.1% | -4.1% to +4.1% | 48% | -3.6% to +1.7% | 0.0% |
| Day +8 | 33 | -0.6% | -3.9% to +5.5% | 48% | -2.7% to +4.2% | 0.0% |
| Day +9 | 33 | -0.8% | -6.4% to +7.0% | 45% | -2.1% to +4.2% | 0.0% |
| Day +10 | 33 | -2.2% | -4.8% to +7.4% | 45% | -3.3% to +3.4% | 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 | 8 |
| Delta neutral crosses | 15 |
| Prior-year sessions closer to gamma max | 89.3% of 252 |
| Prior-year sessions closer to delta neutral | 64.3% of 252 |
| Open interest percentile (1y) | 75th |
| Daily open interest change versus prior year | -0.91σ (-22,326 contracts; 252 prior changes) |
| Open interest change, 5 sessions | -0.3% |
| Open interest change, 21 sessions | -2.9% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 97.42 vs 97.65 (-0.2%)
- closed above delta neutral at 100.62 vs 99.72 (+0.9%)
- closed below delta neutral at 98.76 vs 99.49 (-0.7%)
- closed above delta neutral at 102.51 vs 97.99 (+4.4%)
- closed below delta neutral at 95.59 vs 97.45 (-1.9%)
- closed above delta neutral at 97.98 vs 97.54 (+0.4%)
- closed below delta neutral at 96.03 vs 97.24 (-1.3%)
- closed above delta neutral at 94.27 vs 92.74 (+1.6%)
- closed below delta neutral at 97.39 vs 99.79 (-2.5%)
- closed above delta neutral at 107.02 vs 103.21 (+3.6%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/CCJ
Questions people ask about CCJ
Where is CCJ's gamma max today?
As of Oct 2, 2026, the gamma max for CCJ is 108.89, +27.8% from the 85.18 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 CCJ above or below its delta neutral price?
CCJ closed below delta neutral: 85.18 against a delta neutral price of 92.19. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does CCJ have?
417,979 contracts of open interest across 641 listed contracts on Oct 2, 2026, -5.1% 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.