CCL max pain, gamma exposure (GEX) & options open interest
As of close · rank #97 by open interest · 1,394 sessions of history since Dec 1, 2020
CCL's nearest-expiration max pain is 23.00 for 2026-10-09, its GEX flip is 25.81, net GEX is -227,999, its put/call open-interest ratio is 1.15. 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: volume/OI 0.07 · smile convexity 8.2 pp
CCL closed 31.8% below its gamma max of 33.95. It is 2.1% above the delta neutral price of 25.22. Total open interest is 1,010,048, -7.4% versus the previous session. Its options catalyst-intensity score is 51.0 out of 100, led by volume/OI 0.07, smile convexity 8.2 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 | -46,495 contracts · -9.0% |
| Put OI change, 1 session | -34,203 contracts · -5.9% |
| Call minus put OI growth, 1 session | -3.1 pp |
| Call OI change, 5 sessions | +26,657 contracts · +6.0% |
| Put OI change, 5 sessions | +29,886 contracts · +5.8% |
| Call minus put OI growth, 5 sessions | +0.2 pp |
| Daily call OI change surprise | -1.47σ (252 prior changes) |
| Daily put OI change surprise | -1.04σ (252 prior changes) |
| Daily call-minus-put growth surprise | -1.16σ (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 16 completed Day +10 paths · latest Jun 17, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 16 | +0.3% | -1.1% to +3.2% | 50% | -1.1% to +3.2% | 0.0% |
| Day +2 | 16 | +0.5% | -1.3% to +1.8% | 63% | -1.1% to +1.3% | 0.0% |
| Day +3 | 16 | +0.2% | -1.3% to +3.1% | 50% | -1.1% to +2.5% | 0.0% |
| Day +4 | 16 | -0.2% | -2.3% to +3.5% | 44% | -2.2% to +3.1% | 0.0% |
| Day +5 | 16 | +0.6% | -3.7% to +4.3% | 63% | -3.3% to +4.3% | 0.0% |
| Day +6 | 16 | +0.9% | -2.5% to +3.9% | 56% | -2.4% to +3.9% | 0.0% |
| Day +7 | 16 | +1.4% | -3.4% to +5.9% | 50% | -2.4% to +5.0% | 0.0% |
| Day +8 | 16 | +0.9% | -2.4% to +3.9% | 63% | -1.7% to +3.1% | 0.0% |
| Day +9 | 16 | +1.6% | -2.5% to +5.0% | 63% | -1.8% to +4.8% | 0.0% |
| Day +10 | 16 | +2.0% | -5.3% to +5.1% | 63% | -5.2% to +4.2% | 0.0% |
Crosses above gamma max 17 completed Day +10 paths · latest Jun 16, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 17 | -0.9% | -3.2% to +1.8% | 41% | -3.2% to +1.8% | 0.0% |
| Day +2 | 17 | +1.1% | -1.4% to +4.2% | 53% | -1.4% to +4.2% | 0.0% |
| Day +3 | 17 | +0.0% | -2.3% to +6.5% | 53% | -2.3% to +6.5% | 0.0% |
| Day +4 | 17 | +1.5% | -2.8% to +4.2% | 53% | -2.8% to +4.2% | 0.0% |
| Day +5 | 17 | +1.3% | -2.4% to +6.1% | 59% | -2.4% to +6.1% | 0.0% |
| Day +6 | 17 | +0.8% | -4.2% to +7.0% | 59% | -4.2% to +7.0% | 0.0% |
| Day +7 | 17 | -0.7% | -3.4% to +5.5% | 47% | -3.4% to +5.5% | 0.0% |
| Day +8 | 17 | +1.9% | -3.3% to +7.3% | 59% | -3.3% to +7.3% | 0.0% |
| Day +9 | 17 | +2.1% | -4.7% to +6.2% | 53% | -4.7% to +6.2% | 0.0% |
| Day +10 | 17 | +2.7% | -4.9% to +4.7% | 59% | -4.9% to +4.7% | 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 | 1% |
| Gamma max crosses | 4 |
| Delta neutral crosses | 32 |
| Prior-year sessions closer to gamma max | 85.3% of 252 |
| Prior-year sessions closer to delta neutral | 28.6% of 252 |
| Open interest percentile (1y) | 35th |
| Daily open interest change versus prior year | -1.29σ (-80,698 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +5.9% |
| Open interest change, 21 sessions | -3.6% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed above delta neutral at 25.11 vs 24.68 (+1.7%)
- closed below delta neutral at 27.73 vs 28.01 (-1.0%)
- closed above delta neutral at 28.42 vs 28.19 (+0.8%)
- closed below delta neutral at 27.75 vs 28.13 (-1.4%)
- closed above delta neutral at 28.74 vs 28.27 (+1.6%)
- closed below delta neutral at 27.81 vs 28.15 (-1.2%)
- closed above delta neutral at 28.23 vs 27.70 (+1.9%)
- closed below delta neutral at 27.91 vs 28.33 (-1.5%)
- closed above delta neutral at 29.07 vs 28.68 (+1.3%)
- closed below delta neutral at 28.46 vs 28.74 (-1.0%)
In today's screens
Neighbours by open interest
Cite or embed this snapshot
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/CCL
Questions people ask about CCL
Where is CCL's gamma max today?
As of Oct 2, 2026, the gamma max for CCL is 33.95, +31.8% from the 25.76 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 CCL above or below its delta neutral price?
CCL closed above delta neutral: 25.76 against a delta neutral price of 25.22. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does CCL have?
1,010,048 contracts of open interest across 470 listed contracts on Oct 2, 2026, -7.4% 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.