CPNG max pain, gamma exposure (GEX) & options open interest
As of close · rank #186 by open interest · 1,321 sessions of history since Mar 18, 2021
CPNG's nearest-expiration max pain is 14.50 for 2026-10-09, its GEX flip is 1.59, net GEX is 12,502,337, its put/call open-interest ratio is 0.22. 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: 25Δ risk reversal -139.4 pp · smile convexity -17.7 pp
CPNG closed 37.7% below its gamma max of 18.98. It is 6.4% above the delta neutral price of 12.90. Total open interest is 560,748, -0.5% versus the previous session. Its options catalyst-intensity score is 44.4 out of 100, led by 25Δ risk reversal -139.4 pp, smile convexity -17.7 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 | -1,583 contracts · -0.3% |
| Put OI change, 1 session | -1,228 contracts · -1.2% |
| Call minus put OI growth, 1 session | +0.9 pp |
| Call OI change, 5 sessions | +24,732 contracts · +5.7% |
| Put OI change, 5 sessions | +3,545 contracts · +3.7% |
| Call minus put OI growth, 5 sessions | +2.0 pp |
| Daily call OI change surprise | -0.10σ (252 prior changes) |
| Daily put OI change surprise | -0.15σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.19σ (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 above gamma max 29 completed Day +10 paths · latest Jul 16, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 29 | -0.2% | -1.4% to +1.5% | 41% | -0.4% to +0.8% | 0.0% |
| Day +2 | 29 | -0.1% | -1.0% to +1.3% | 45% | -0.6% to +0.9% | 0.0% |
| Day +3 | 29 | -0.5% | -3.1% to +1.4% | 41% | -2.9% to +0.5% | 0.0% |
| Day +4 | 29 | -1.6% | -4.2% to +2.5% | 38% | -1.9% to +0.7% | 0.0% |
| Day +5 | 29 | -0.7% | -3.9% to +1.6% | 45% | -3.5% to +0.8% | 0.0% |
| Day +6 | 29 | -2.3% | -3.7% to +0.3% | 31% | -3.1% to -0.2% | -0.2% |
| Day +7 | 29 | -0.8% | -3.3% to +1.5% | 45% | -2.8% to +0.7% | 0.0% |
| Day +8 | 29 | -1.4% | -4.2% to +2.1% | 48% | -2.5% to +1.4% | 0.0% |
| Day +9 | 29 | -1.2% | -4.9% to +2.4% | 45% | -3.9% to +1.7% | 0.0% |
| Day +10 | 29 | 0.0% | -4.6% to +3.0% | 48% | -2.0% to +2.5% | 0.0% |
Crosses below gamma max 26 completed Day +10 paths · latest Jul 7, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 26 | +0.6% | -0.4% to +1.7% | 62% | -0.1% to +1.1% | 0.0% |
| Day +2 | 26 | +0.6% | -0.5% to +2.7% | 62% | -0.2% to +1.3% | 0.0% |
| Day +3 | 26 | +1.2% | -1.1% to +3.1% | 65% | -0.2% to +2.2% | 0.0% |
| Day +4 | 26 | +0.7% | -2.0% to +2.7% | 58% | -1.9% to +2.1% | 0.0% |
| Day +5 | 26 | +0.2% | -2.0% to +3.2% | 54% | -1.1% to +2.2% | 0.0% |
| Day +6 | 26 | +0.1% | -2.4% to +3.9% | 50% | -0.6% to +2.1% | 0.0% |
| Day +7 | 26 | +1.5% | -2.0% to +3.3% | 54% | -1.4% to +2.2% | 0.0% |
| Day +8 | 26 | +0.8% | -3.0% to +2.6% | 62% | -1.1% to +1.9% | 0.0% |
| Day +9 | 26 | +1.5% | -1.7% to +3.5% | 65% | -1.2% to +3.1% | 0.0% |
| Day +10 | 26 | +1.3% | -3.0% to +4.5% | 54% | -1.1% to +4.1% | 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 | 24 |
| Prior-year sessions closer to gamma max | 99.6% of 252 |
| Prior-year sessions closer to delta neutral | 40.5% of 252 |
| Open interest percentile (1y) | 56th |
| Daily open interest change versus prior year | -0.11σ (-2,811 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +5.3% |
| Open interest change, 21 sessions | -12.0% |
| History available | Mar 18, 2021 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 16.62 vs 19.66 (-18.3%)
- closed above gamma max at 16.86 vs 16.77 (+0.6%)
- closed below gamma max at 18.51 vs 19.03 (-2.8%)
- closed above gamma max at 19.11 vs 19.10 (+0.1%)
- closed below gamma max at 18.00 vs 18.85 (-4.7%)
- closed above gamma max at 18.03 vs 17.47 (+3.1%)
- closed below gamma max at 16.82 vs 17.53 (-4.2%)
- closed above gamma max at 17.25 vs 16.88 (+2.1%)
- closed above delta neutral at 15.62 vs 15.50 (+0.7%)
- closed below delta neutral at 15.70 vs 15.88 (-1.2%)
In today's screens
Neighbours by open interest
Cite or embed this snapshot
Share the dated 1600×840 image or cite this canonical page. The card contains public derived aggregates, not contract-level quotes.
Canonical source: https://halfonadouble.com/stock/CPNG
Questions people ask about CPNG
Where is CPNG's gamma max today?
As of Oct 2, 2026, the gamma max for CPNG is 18.98, +37.7% from the 13.78 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 CPNG above or below its delta neutral price?
CPNG closed above delta neutral: 13.78 against a delta neutral price of 12.90. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does CPNG have?
560,748 contracts of open interest across 401 listed contracts on Oct 2, 2026, -0.5% 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.