COHR max pain, gamma exposure (GEX) & options open interest
As of close · rank #355 by open interest · 1,344 sessions of history since Dec 1, 2020
COHR's nearest-expiration max pain is 290.00 for 2026-10-09, its GEX flip is 315.18, net GEX is 2,343,855, its put/call open-interest ratio is 1.42. 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 0.15 · 7d expected move +9.8% · smile convexity 9.3 pp
COHR closed 10.8% below its gamma max of 373.35. It is 9.0% above the delta neutral price of 306.56. Total open interest is 241,476, -7.8% versus the previous session. Its options catalyst-intensity score is 48.9 out of 100, led by volume/OI 0.15, 7d expected move +9.8%, smile convexity 9.3 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 | -8,987 contracts · -8.3% |
| Put OI change, 1 session | -11,546 contracts · -7.5% |
| Call minus put OI growth, 1 session | -0.7 pp |
| Call OI change, 5 sessions | +7,832 contracts · +8.5% |
| Put OI change, 5 sessions | +7,461 contracts · +5.6% |
| Call minus put OI growth, 5 sessions | +3.0 pp |
| Daily call OI change surprise | -1.29σ (252 prior changes) |
| Daily put OI change surprise | -1.48σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.07σ (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 28 completed Day +10 paths · latest May 14, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 28 | -0.7% | -2.4% to +1.6% | 43% | -2.2% to +0.7% | 0.0% |
| Day +2 | 28 | -1.5% | -6.4% to +2.0% | 29% | -4.1% to -0.2% | -0.2% |
| Day +3 | 28 | -0.9% | -8.1% to +2.9% | 39% | -2.9% to +0.7% | 0.0% |
| Day +4 | 28 | -1.0% | -5.9% to +4.2% | 43% | -4.2% to +3.2% | 0.0% |
| Day +5 | 28 | +0.0% | -4.8% to +5.0% | 50% | -3.7% to +3.8% | 0.0% |
| Day +6 | 28 | +0.7% | -5.8% to +6.1% | 50% | -3.2% to +5.6% | 0.0% |
| Day +7 | 28 | +2.6% | -5.4% to +6.4% | 54% | -4.1% to +4.6% | 0.0% |
| Day +8 | 28 | +0.3% | -4.4% to +7.3% | 50% | -3.3% to +4.9% | 0.0% |
| Day +9 | 28 | +2.1% | -5.3% to +8.2% | 54% | -3.6% to +6.0% | 0.0% |
| Day +10 | 28 | +3.3% | -5.1% to +8.6% | 61% | -1.7% to +6.4% | 0.0% |
Crosses above gamma max 31 completed Day +10 paths · latest May 13, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 31 | -0.2% | -1.7% to +1.3% | 48% | -0.8% to +1.0% | 0.0% |
| Day +2 | 31 | -0.4% | -1.5% to +2.7% | 42% | -0.8% to +1.0% | 0.0% |
| Day +3 | 31 | +0.1% | -5.1% to +4.7% | 52% | -1.3% to +3.2% | 0.0% |
| Day +4 | 31 | +0.4% | -4.1% to +4.9% | 55% | -1.5% to +4.0% | 0.0% |
| Day +5 | 31 | +1.1% | -4.7% to +5.6% | 58% | -3.0% to +4.4% | 0.0% |
| Day +6 | 31 | +0.8% | -5.6% to +6.3% | 55% | -3.0% to +3.3% | 0.0% |
| Day +7 | 31 | +1.7% | -4.4% to +4.3% | 58% | -3.0% to +4.2% | 0.0% |
| Day +8 | 31 | +0.4% | -4.6% to +6.0% | 55% | -1.6% to +4.4% | 0.0% |
| Day +9 | 31 | +1.2% | -5.9% to +8.4% | 55% | -4.6% to +4.7% | 0.0% |
| Day +10 | 31 | -0.3% | -3.9% to +8.7% | 48% | -1.1% to +4.9% | 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 | 6% |
| Gamma max crosses | 12 |
| Delta neutral crosses | 14 |
| Prior-year sessions closer to gamma max | 46.4% of 252 |
| Prior-year sessions closer to delta neutral | 35.7% of 252 |
| Open interest percentile (1y) | 90th |
| Daily open interest change versus prior year | -1.43σ (-20,533 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +6.8% |
| Open interest change, 21 sessions | -3.1% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed above delta neutral at 319.19 vs 301.12 (+5.7%)
- closed below delta neutral at 300.60 vs 301.33 (-0.2%)
- closed above delta neutral at 295.98 vs 293.68 (+0.8%)
- closed below delta neutral at 266.50 vs 292.49 (-9.8%)
- closed above delta neutral at 305.37 vs 298.90 (+2.1%)
- closed below delta neutral at 293.17 vs 293.82 (-0.2%)
- closed above delta neutral at 301.88 vs 295.54 (+2.1%)
- closed below delta neutral at 306.43 vs 324.63 (-5.9%)
- closed above delta neutral at 351.22 vs 335.15 (+4.6%)
- closed below delta neutral at 327.23 vs 332.49 (-1.6%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/COHR
Questions people ask about COHR
Where is COHR's gamma max today?
As of Oct 2, 2026, the gamma max for COHR is 373.35, +10.8% from the 337.04 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 COHR above or below its delta neutral price?
COHR closed above delta neutral: 337.04 against a delta neutral price of 306.56. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does COHR have?
241,476 contracts of open interest across 1,359 listed contracts on Oct 2, 2026, -7.8% 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.