# CHGG: options-positioning snapshot

Canonical: https://halfonadouble.com/stock/CHGG
Data through: 2026-11-13 close
Publisher: Half on a Double

| Published field | Value |
| --- | --- |
| Close (USD/share) | 0.58 |
| Delta neutral (USD/share) | 0.06 |
| Gamma neutral (USD/share) | 0.58 |
| Gamma max (USD/share) | 0.50 |
| Open interest (contracts) | 132,949 |
| Nearest-expiration max pain (USD/share) | 0.50 (2026-11-20) |
| All-expiration max pain (USD/share) | 0.50 |
| Net gamma exposure | 2,769,263 |
| Call wall (USD/share) | 1.00 |
| Put wall (USD/share) | 1.00 |
| Put/call open-interest ratio | 0.04 |
| Net GEX sign history | positive for the last 403 sessions; negative on 0 of the past 252 |
| Max pain expiration record (past 252 sessions) | expiration close nearer the prior-session max pain on 2 of 11 expirations (18%); median distance 8.93% vs 2.84% for an unchanged prior close |
| Options catalyst-intensity score (0–100) | 32.3 |
| Options directional score (-100 to +100) | 44.7 |
| IV rank | 11.5 |
| Front-minus-back IV | – pp |
| Front 25-delta risk reversal | -56.4 pp |
| Call OI change, 1 session | -3 contracts · -0.0% |
| Put OI change, 1 session | -18 contracts · -0.3% |
| Call minus put OI growth, 1 session | +0.3 pp |
| Call OI change, 5 sessions | +2,599 contracts · +2.1% |
| Put OI change, 5 sessions | +13 contracts · +0.2% |
| Call minus put OI growth, 5 sessions | +1.8 pp |
| Daily call OI change surprise | — (150 prior changes) |
| Daily put OI change surprise | — (150 prior changes) |
| Daily call-minus-put growth surprise | — (150 prior changes) |
| Daily open interest change (contracts) | -21 |
| Daily open interest change z-score (prior 252) | -0.02σ (252 prior changes) |
| Gamma max distance from close | -13.1% |
| Delta neutral distance from close | -89.1% |
| Prior-year sessions closer to gamma max | 43.3% of 252 |
| Prior-year sessions closer to delta neutral | 98.0% of 252 |

## Recent expirations vs max pain

| Expiration | Max pain (session before) | Prior close | Expiration close | Close vs max pain | Nearer |
| --- | ---: | ---: | ---: | ---: | --- |
| 2026-06-18 | 1.00 | 1.03 | 1.05 | +4.85% | Prior close |
| 2026-05-15 | 1.00 | 1.05 | 1.02 | +2.37% | Max pain |
| 2026-04-17 | 0.50 | 1.13 | 1.05 | +48.67% | Prior close |
| 2026-03-20 | 0.50 | 0.57 | 0.45 | -8.83% | Max pain |
| 2026-01-16 | 1.00 | 0.88 | 0.86 | -16.48% | Prior close |
| 2025-12-19 | 1.00 | 0.91 | 0.95 | -5.55% | Prior close |
| 2025-11-21 | 1.00 | 0.91 | 0.95 | -5.47% | Prior close |
| 2025-10-17 | 1.50 | 1.26 | 1.27 | -18.25% | Prior close |
| 2025-09-19 | 1.50 | 1.68 | 1.65 | +8.93% | Prior close |
| 2025-08-15 | 1.50 | 1.26 | 1.23 | -21.43% | Prior close |

Each expiration compares the last session before it, when it was the nearest expiration, with the expiration-session close; distances are percentages of that prior close. Underlying closes are not option settlement values. Descriptive history, not a forecast.

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 24 | -3.2% | -5.3% to -0.5% | 25% | -4.8% to -1.7% | -1.7% |
| above | Day +3 | 24 | -0.2% | -6.3% to +7.3% | 50% | -5.4% to +5.3% | 0.0% |
| above | Day +5 | 24 | -0.1% | -8.8% to +4.1% | 50% | -6.5% to +3.4% | 0.0% |
| above | Day +10 | 24 | -2.5% | -13.7% to +2.4% | 42% | -11.9% to +1.1% | 0.0% |
| below | Day +1 | 26 | -1.6% | -4.0% to +3.1% | 42% | -3.8% to +1.0% | 0.0% |
| below | Day +3 | 26 | +1.8% | -5.1% to +5.7% | 58% | -2.2% to +5.3% | 0.0% |
| below | Day +5 | 26 | +0.5% | -7.0% to +6.9% | 54% | -4.7% to +5.0% | 0.0% |
| below | Day +10 | 26 | -2.0% | -14.5% to +8.8% | 42% | -8.2% to +4.3% | 0.0% |

Returns are close-to-close after the labelled number of subsequent trading sessions. Cohorts require gamma max to be within 10% of the close on both crossing sessions. Historical windows can overlap and are not independent observations, so interval coverage is not guaranteed.

- [Machine-readable snapshot](https://halfonadouble.com/api/v1/tickers/CHGG.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/CHGG.csv)
- [Public aggregate analysis](https://halfonadouble.com/api/v1/analysis/CHGG.json?date=2026-11-13&public_schema=5)

An em dash means unavailable, not zero. Values use the same display rounding as the HTML page. This is a current snapshot; the 60-session close-versus-max-pain chart, full history and individual event paths are on the canonical page.

[Definitions and limitations](https://halfonadouble.com/methodology.md).