CMCSA max pain, gamma exposure (GEX) & options open interest
As of close · rank #132 by open interest · 1,393 sessions of history since Dec 1, 2020
CMCSA's nearest-expiration max pain is 22.00 for 2026-10-09, its GEX flip is 21.61, net GEX is -689,027, its put/call open-interest ratio is 0.45. 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: front IV premium 6.0 pp · smile convexity 16.1 pp · 25Δ risk reversal 20.4 pp
CMCSA closed 26.4% below its gamma max of 27.26. It is 3.6% below the delta neutral price of 22.34. Total open interest is 765,748, -1.7% versus the previous session. Its options catalyst-intensity score is 60.4 out of 100, led by front IV premium 6.0 pp, smile convexity 16.1 pp, 25Δ risk reversal 20.4 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 | -9,817 contracts · -1.8% |
| Put OI change, 1 session | -3,176 contracts · -1.3% |
| Call minus put OI growth, 1 session | -0.5 pp |
| Call OI change, 5 sessions | +17,344 contracts · +3.4% |
| Put OI change, 5 sessions | +12,706 contracts · +5.7% |
| Call minus put OI growth, 5 sessions | -2.3 pp |
| Daily call OI change surprise | -0.10σ (250 prior changes) |
| Daily put OI change surprise | -0.09σ (250 prior changes) |
| Daily call-minus-put growth surprise | -0.09σ (250 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 17 completed Day +10 paths · latest Feb 20, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 17 | -0.5% | -0.8% to +0.3% | 35% | -0.8% to +0.3% | 0.0% |
| Day +2 | 17 | -0.6% | -1.1% to +0.1% | 29% | -1.1% to +0.1% | 0.0% |
| Day +3 | 17 | -0.7% | -1.7% to +0.3% | 41% | -1.7% to +0.3% | 0.0% |
| Day +4 | 17 | -0.5% | -1.4% to +1.5% | 41% | -1.4% to +1.5% | 0.0% |
| Day +5 | 17 | -0.6% | -1.4% to +1.5% | 35% | -1.4% to +1.5% | 0.0% |
| Day +6 | 17 | -0.2% | -1.5% to +0.9% | 47% | -1.5% to +0.9% | 0.0% |
| Day +7 | 17 | +0.3% | -1.1% to +1.6% | 53% | -1.1% to +1.6% | 0.0% |
| Day +8 | 17 | -0.6% | -2.1% to +3.0% | 41% | -2.1% to +3.0% | 0.0% |
| Day +9 | 17 | -0.8% | -3.0% to +2.2% | 47% | -3.0% to +2.2% | 0.0% |
| Day +10 | 17 | -0.1% | -3.2% to +2.4% | 41% | -3.2% to +2.4% | 0.0% |
Crosses above gamma max 17 completed Day +10 paths · latest Feb 13, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 17 | -0.0% | -0.4% to +0.2% | 35% | -0.4% to +0.2% | 0.0% |
| Day +2 | 17 | -0.4% | -2.5% to +0.6% | 41% | -2.5% to +0.6% | 0.0% |
| Day +3 | 17 | -1.1% | -1.9% to -0.1% | 24% | -1.9% to -0.1% | -0.1% |
| Day +4 | 17 | -1.3% | -2.9% to +0.7% | 29% | -2.9% to +0.7% | 0.0% |
| Day +5 | 17 | -0.4% | -1.8% to +0.6% | 41% | -1.8% to +0.6% | 0.0% |
| Day +6 | 17 | -1.1% | -1.7% to +1.7% | 41% | -1.7% to +1.7% | 0.0% |
| Day +7 | 17 | -0.5% | -1.9% to +1.2% | 47% | -1.9% to +1.2% | 0.0% |
| Day +8 | 17 | +0.0% | -2.3% to +0.7% | 53% | -2.3% to +0.7% | 0.0% |
| Day +9 | 17 | -1.0% | -1.9% to +0.1% | 29% | -1.9% to +0.1% | 0.0% |
| Day +10 | 17 | -0.8% | -3.2% to +1.6% | 47% | -3.2% to +1.6% | 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 | 4% |
| Gamma max crosses | 8 |
| Delta neutral crosses | 41 |
| Prior-year sessions closer to gamma max | 100.0% of 252 |
| Prior-year sessions closer to delta neutral | 57.5% of 252 |
| Open interest percentile (1y) | 55th |
| Daily open interest change versus prior year | -0.10σ (-12,993 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +4.1% |
| Open interest change, 21 sessions | +2.0% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 22.42 vs 22.80 (-1.7%)
- closed above delta neutral at 22.93 vs 22.75 (+0.8%)
- closed below delta neutral at 22.91 vs 23.20 (-1.3%)
- closed above delta neutral at 22.30 vs 22.22 (+0.4%)
- closed below delta neutral at 21.92 vs 22.19 (-1.2%)
- closed above delta neutral at 23.09 vs 22.98 (+0.5%)
- closed below delta neutral at 22.66 vs 23.27 (-2.7%)
- closed above delta neutral at 25.17 vs 24.55 (+2.5%)
- closed below delta neutral at 26.76 vs 27.44 (-2.5%)
- closed above delta neutral at 27.65 vs 27.59 (+0.2%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/CMCSA
Questions people ask about CMCSA
Where is CMCSA's gamma max today?
As of Oct 2, 2026, the gamma max for CMCSA is 27.26, +26.4% from the 21.57 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 CMCSA above or below its delta neutral price?
CMCSA closed below delta neutral: 21.57 against a delta neutral price of 22.34. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does CMCSA have?
765,748 contracts of open interest across 450 listed contracts on Oct 2, 2026, -1.7% 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.