COIN max pain, gamma exposure (GEX) & options open interest
As of close · rank #106 by open interest · 1,298 sessions of history since Apr 21, 2021
COIN's nearest-expiration max pain is 190.00 for 2026-10-09, its GEX flip is 172.80, net GEX is 11,175,968, its put/call open-interest ratio is 0.86. 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 0.27
COIN closed 12.7% below its gamma max of 206.26. It is 3.8% above the delta neutral price of 176.13. Total open interest is 937,883, -9.3% versus the previous session. Its options catalyst-intensity score is 43.8 out of 100, led by volume/OI 0.27. 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 | -53,324 contracts · -9.6% |
| Put OI change, 1 session | -42,687 contracts · -9.0% |
| Call minus put OI growth, 1 session | -0.6 pp |
| Call OI change, 5 sessions | +18,179 contracts · +3.7% |
| Put OI change, 5 sessions | -12,893 contracts · -2.9% |
| Call minus put OI growth, 5 sessions | +6.6 pp |
| Daily call OI change surprise | -0.95σ (252 prior changes) |
| Daily put OI change surprise | -1.34σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.21σ (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 19 completed Day +10 paths · latest Aug 24, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 19 | -0.3% | -3.0% to +2.1% | 47% | -3.0% to +1.8% | 0.0% |
| Day +2 | 19 | +0.2% | -2.7% to +3.3% | 53% | -2.6% to +2.6% | 0.0% |
| Day +3 | 19 | +0.8% | -5.4% to +6.2% | 53% | -5.2% to +6.2% | 0.0% |
| Day +4 | 19 | -0.5% | -5.6% to +5.0% | 47% | -5.5% to +3.9% | 0.0% |
| Day +5 | 19 | -0.9% | -6.4% to +6.8% | 47% | -6.1% to +6.4% | 0.0% |
| Day +6 | 19 | -1.5% | -6.3% to +4.4% | 42% | -6.1% to +2.1% | 0.0% |
| Day +7 | 19 | -1.6% | -9.9% to +6.2% | 37% | -9.7% to +5.8% | 0.0% |
| Day +8 | 19 | +1.1% | -10.5% to +7.5% | 53% | -10.1% to +7.4% | 0.0% |
| Day +9 | 19 | -1.7% | -9.5% to +9.4% | 47% | -9.3% to +8.6% | 0.0% |
| Day +10 | 19 | -4.1% | -10.7% to +8.2% | 37% | -9.8% to +5.4% | 0.0% |
Crosses above gamma max 20 completed Day +10 paths · latest Aug 20, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 20 | -0.1% | -2.6% to +3.0% | 45% | -2.5% to +3.0% | 0.0% |
| Day +2 | 20 | -0.6% | -5.2% to +5.2% | 50% | -5.0% to +4.6% | 0.0% |
| Day +3 | 20 | -0.8% | -4.6% to +4.3% | 45% | -4.4% to +4.0% | 0.0% |
| Day +4 | 20 | -1.9% | -5.6% to +5.7% | 45% | -5.5% to +5.5% | 0.0% |
| Day +5 | 20 | -0.8% | -4.7% to +6.8% | 50% | -4.7% to +6.5% | 0.0% |
| Day +6 | 20 | +0.7% | -4.8% to +8.0% | 50% | -4.7% to +7.3% | 0.0% |
| Day +7 | 20 | +2.2% | -6.0% to +7.8% | 60% | -5.9% to +7.3% | 0.0% |
| Day +8 | 20 | +3.1% | -4.5% to +6.0% | 60% | -4.0% to +5.8% | 0.0% |
| Day +9 | 20 | +3.2% | -4.9% to +6.0% | 70% | -4.7% to +5.8% | 0.0% |
| Day +10 | 20 | +5.8% | -7.5% to +9.1% | 65% | -7.3% to +8.7% | 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 | 15 |
| Delta neutral crosses | 46 |
| Prior-year sessions closer to gamma max | 64.3% of 252 |
| Prior-year sessions closer to delta neutral | 38.9% of 252 |
| Open interest percentile (1y) | 4th |
| Daily open interest change versus prior year | -1.11σ (-96,011 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +0.6% |
| Open interest change, 21 sessions | -17.4% |
| History available | Apr 21, 2021 → Oct 2, 2026 |
Recent crosses
- closed above delta neutral at 173.97 vs 171.09 (+1.7%)
- closed below delta neutral at 164.51 vs 171.01 (-3.9%)
- closed below gamma max at 179.48 vs 188.53 (-5.0%)
- closed above gamma max at 172.35 vs 164.22 (+4.7%)
- closed above delta neutral at 160.20 vs 154.14 (+3.8%)
- closed below delta neutral at 146.26 vs 163.39 (-11.7%)
- closed above delta neutral at 163.58 vs 161.91 (+1.0%)
- closed below delta neutral at 160.09 vs 161.21 (-0.7%)
- closed above delta neutral at 167.49 vs 162.21 (+3.2%)
- closed below delta neutral at 161.16 vs 162.48 (-0.8%)
In today's screens
Neighbours by open interest
Cite or embed this snapshot
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Canonical source: https://halfonadouble.com/stock/COIN
Questions people ask about COIN
Where is COIN's gamma max today?
As of Oct 2, 2026, the gamma max for COIN is 206.26, +12.7% from the 183.00 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 COIN above or below its delta neutral price?
COIN closed above delta neutral: 183.00 against a delta neutral price of 176.13. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does COIN have?
937,883 contracts of open interest across 1,869 listed contracts on Oct 2, 2026, -9.3% 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.