COF max pain, gamma exposure (GEX) & options open interest
As of close · rank #512 by open interest · 1,394 sessions of history since Dec 1, 2020
COF's nearest-expiration max pain is 200.00 for 2026-10-09, its GEX flip is 191.25, net GEX is 2,797,470, its put/call open-interest ratio is 0.78. 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.
COF closed 10.0% below its gamma max of 214.11. It is 1.7% below the delta neutral price of 198.04. Total open interest is 139,505, -3.0% versus the previous session. Its options catalyst-intensity score is 37.4 out of 100. 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 | -4,140 contracts · -5.0% |
| Put OI change, 1 session | -233 contracts · -0.4% |
| Call minus put OI growth, 1 session | -4.6 pp |
| Call OI change, 5 sessions | +1,681 contracts · +2.2% |
| Put OI change, 5 sessions | +2,934 contracts · +5.0% |
| Call minus put OI growth, 5 sessions | -2.9 pp |
| Daily call OI change surprise | -0.48σ (252 prior changes) |
| Daily put OI change surprise | -0.03σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.72σ (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 25 completed Day +10 paths · latest Aug 7, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 25 | +0.6% | -0.6% to +1.2% | 64% | -0.5% to +1.2% | 0.0% |
| Day +2 | 25 | +0.7% | -1.6% to +2.0% | 64% | -0.9% to +1.9% | 0.0% |
| Day +3 | 25 | +0.3% | -2.9% to +1.6% | 56% | -2.5% to +1.5% | 0.0% |
| Day +4 | 25 | +0.4% | -2.3% to +2.3% | 56% | -2.1% to +2.3% | 0.0% |
| Day +5 | 25 | -0.3% | -1.9% to +1.7% | 48% | -1.4% to +1.0% | 0.0% |
| Day +6 | 25 | +0.1% | -1.6% to +1.8% | 52% | -1.2% to +1.7% | 0.0% |
| Day +7 | 25 | -0.6% | -2.2% to +2.1% | 44% | -1.4% to +1.7% | 0.0% |
| Day +8 | 25 | +0.3% | -2.1% to +1.9% | 68% | -0.9% to +1.7% | 0.0% |
| Day +9 | 25 | +1.0% | -2.4% to +2.8% | 56% | -2.3% to +2.7% | 0.0% |
| Day +10 | 25 | +1.1% | -3.1% to +3.5% | 60% | -2.2% to +3.1% | 0.0% |
Crosses above gamma max 25 completed Day +10 paths · latest Aug 3, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 25 | +0.1% | -0.7% to +1.7% | 56% | -0.5% to +1.4% | 0.0% |
| Day +2 | 25 | +0.7% | -1.1% to +1.8% | 64% | -0.9% to +1.8% | 0.0% |
| Day +3 | 25 | +0.8% | -0.6% to +1.6% | 64% | -0.4% to +1.5% | 0.0% |
| Day +4 | 25 | +0.0% | -2.2% to +2.1% | 52% | -1.9% to +1.5% | 0.0% |
| Day +5 | 25 | +0.6% | -2.4% to +2.7% | 56% | -2.1% to +2.5% | 0.0% |
| Day +6 | 25 | +0.3% | -3.7% to +2.8% | 52% | -3.4% to +1.2% | 0.0% |
| Day +7 | 25 | -0.1% | -2.5% to +2.3% | 48% | -2.4% to +2.2% | 0.0% |
| Day +8 | 25 | +0.1% | -3.0% to +2.7% | 52% | -2.4% to +1.9% | 0.0% |
| Day +9 | 25 | +0.5% | -4.5% to +2.3% | 52% | -2.6% to +2.1% | 0.0% |
| Day +10 | 25 | +1.0% | -2.5% to +3.6% | 56% | -1.0% to +3.2% | 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 | 3% |
| Gamma max crosses | 10 |
| Delta neutral crosses | 19 |
| Prior-year sessions closer to gamma max | 71.0% of 252 |
| Prior-year sessions closer to delta neutral | 19.8% of 252 |
| Open interest percentile (1y) | 13th |
| Daily open interest change versus prior year | -0.29σ (-4,373 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +3.4% |
| Open interest change, 21 sessions | -12.8% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 196.46 vs 198.14 (-0.9%)
- closed above delta neutral at 200.20 vs 198.51 (+0.8%)
- closed below delta neutral at 203.19 vs 205.49 (-1.1%)
- closed below gamma max at 217.76 vs 229.06 (-5.2%)
- closed above gamma max at 217.68 vs 216.37 (+0.6%)
- closed below gamma max at 208.03 vs 220.40 (-5.9%)
- closed above gamma max at 211.93 vs 210.57 (+0.6%)
- closed above delta neutral at 200.10 vs 198.89 (+0.6%)
- closed below delta neutral at 191.95 vs 197.11 (-2.7%)
- closed above delta neutral at 194.07 vs 191.17 (+1.5%)
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Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/COF
Questions people ask about COF
Where is COF's gamma max today?
As of Oct 2, 2026, the gamma max for COF is 214.11, +10.0% from the 194.72 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 COF above or below its delta neutral price?
COF closed below delta neutral: 194.72 against a delta neutral price of 198.04. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does COF have?
139,505 contracts of open interest across 585 listed contracts on Oct 2, 2026, -3.0% 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.