CLS max pain, gamma exposure (GEX) & options open interest
As of close · rank #581 by open interest · 1,394 sessions of history since Dec 1, 2020
CLS's nearest-expiration max pain is 350.00 for 2026-10-09, its GEX flip is 300.36, net GEX is 7,015,344, its put/call open-interest ratio is 0.62. 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 0.10
CLS closed 1.6% below its gamma max of 393.43. It is 18.9% above the delta neutral price of 314.07. Total open interest is 119,494, -6.5% versus the previous session. Its options catalyst-intensity score is 41.4 out of 100, led by volume/OI 0.10. 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 | -4,460 contracts · -5.7% |
| Put OI change, 1 session | -3,894 contracts · -7.8% |
| Call minus put OI growth, 1 session | +2.1 pp |
| Call OI change, 5 sessions | +51 contracts · +0.1% |
| Put OI change, 5 sessions | +2,047 contracts · +4.7% |
| Call minus put OI growth, 5 sessions | -4.6 pp |
| Daily call OI change surprise | -0.76σ (252 prior changes) |
| Daily put OI change surprise | -0.82σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.44σ (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 48 completed Day +10 paths · latest Sep 25, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 49 | -0.2% | -2.0% to +2.3% | 45% | -0.8% to +0.8% | 0.0% |
| Day +2 | 49 | +0.8% | -2.0% to +4.9% | 61% | -0.1% to +2.8% | 0.0% |
| Day +3 | 49 | +1.0% | -2.7% to +5.4% | 57% | -1.0% to +3.7% | 0.0% |
| Day +4 | 49 | +2.1% | -3.1% to +6.4% | 59% | -0.6% to +5.1% | 0.0% |
| Day +5 | 49 | +2.4% | -2.8% to +8.4% | 61% | -0.7% to +6.7% | 0.0% |
| Day +6 | 48 | +4.4% | -2.6% to +8.5% | 67% | +0.4% to +7.3% | +0.4% |
| Day +7 | 48 | +4.1% | -0.9% to +10.9% | 73% | +1.9% to +7.0% | +1.9% |
| Day +8 | 48 | +4.7% | -0.2% to +12.7% | 75% | +2.9% to +7.4% | +2.9% |
| Day +9 | 48 | +4.5% | -0.4% to +13.1% | 75% | +2.5% to +6.4% | +2.5% |
| Day +10 | 48 | +4.4% | -0.8% to +10.6% | 71% | +2.6% to +7.5% | +2.6% |
Crosses above gamma max 53 completed Day +10 paths · latest Sep 24, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 54 | +0.1% | -2.5% to +2.1% | 56% | -0.2% to +0.8% | 0.0% |
| Day +2 | 54 | -0.5% | -2.6% to +2.9% | 46% | -1.5% to +0.6% | 0.0% |
| Day +3 | 54 | +0.4% | -4.4% to +3.6% | 57% | -1.4% to +1.8% | 0.0% |
| Day +4 | 54 | +1.1% | -4.7% to +5.2% | 52% | -2.3% to +2.9% | 0.0% |
| Day +5 | 54 | +1.2% | -3.7% to +4.9% | 56% | -2.4% to +2.9% | 0.0% |
| Day +6 | 54 | +3.4% | -3.6% to +7.4% | 59% | -1.6% to +4.6% | 0.0% |
| Day +7 | 53 | +3.3% | -4.7% to +8.5% | 55% | -0.4% to +5.1% | 0.0% |
| Day +8 | 53 | +4.4% | -2.6% to +11.3% | 62% | +0.5% to +6.3% | +0.5% |
| Day +9 | 53 | +3.4% | -3.3% to +10.1% | 68% | +1.5% to +5.9% | +1.5% |
| Day +10 | 53 | +5.0% | -3.9% to +11.9% | 68% | +1.7% to +6.6% | +1.7% |
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 | 7% |
| Gamma max crosses | 20 |
| Delta neutral crosses | 12 |
| Prior-year sessions closer to gamma max | 6.3% of 252 |
| Prior-year sessions closer to delta neutral | 93.7% of 252 |
| Open interest percentile (1y) | 57th |
| Daily open interest change versus prior year | -0.81σ (-8,354 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +1.8% |
| Open interest change, 21 sessions | -2.9% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 365.44 vs 384.07 (-5.1%)
- closed above gamma max at 373.56 vs 368.28 (+1.4%)
- closed above delta neutral at 309.84 vs 289.68 (+6.5%)
- closed below delta neutral at 277.77 vs 289.89 (-4.4%)
- closed below gamma max at 298.70 vs 356.72 (-19.4%)
- closed above gamma max at 317.38 vs 315.01 (+0.7%)
- closed above delta neutral at 296.55 vs 294.50 (+0.7%)
- closed below delta neutral at 301.36 vs 304.26 (-1.0%)
- closed below gamma max at 335.05 vs 368.97 (-10.1%)
- closed above gamma max at 347.63 vs 346.41 (+0.4%)
In today's screens
Neighbours by open interest
Cite or embed this snapshot
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Canonical source: https://halfonadouble.com/stock/CLS
Questions people ask about CLS
Where is CLS's gamma max today?
As of Oct 2, 2026, the gamma max for CLS is 393.43, +1.6% from the 387.32 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 CLS above or below its delta neutral price?
CLS closed above delta neutral: 387.32 against a delta neutral price of 314.07. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does CLS have?
119,494 contracts of open interest across 1,216 listed contracts on Oct 2, 2026, -6.5% 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.