CSCO max pain, gamma exposure (GEX) & options open interest
As of close · rank #120 by open interest · 1,394 sessions of history since Dec 1, 2020
CSCO's nearest-expiration max pain is 106.00 for 2026-10-09, its GEX flip is 105.86, net GEX is 27,294,972, its put/call open-interest ratio is 0.92. 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: IV rank 100 · volume/OI 0.09
CSCO closed 5.4% below its gamma max of 118.21. It is 5.0% above the delta neutral price of 106.57. Total open interest is 845,143, -4.1% versus the previous session. Its options catalyst-intensity score is 38.5 out of 100, led by IV rank 100, volume/OI 0.09. 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 | -24,530 contracts · -5.3% |
| Put OI change, 1 session | -11,315 contracts · -2.7% |
| Call minus put OI growth, 1 session | -2.5 pp |
| Call OI change, 5 sessions | +755 contracts · +0.2% |
| Put OI change, 5 sessions | +7,117 contracts · +1.8% |
| Call minus put OI growth, 5 sessions | -1.6 pp |
| Daily call OI change surprise | -0.72σ (252 prior changes) |
| Daily put OI change surprise | -0.42σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.94σ (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 20 completed Day +10 paths · latest Jun 3, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 20 | -0.4% | -0.8% to +0.2% | 30% | -0.7% to +0.1% | 0.0% |
| Day +2 | 20 | -1.1% | -2.5% to +0.3% | 30% | -2.4% to +0.3% | 0.0% |
| Day +3 | 20 | -1.4% | -2.3% to +0.3% | 25% | -2.3% to -0.2% | -0.2% |
| Day +4 | 20 | -0.7% | -2.7% to +1.5% | 30% | -2.6% to +1.4% | 0.0% |
| Day +5 | 20 | -0.7% | -2.9% to +2.2% | 40% | -2.9% to +1.9% | 0.0% |
| Day +6 | 20 | -0.9% | -2.7% to -0.1% | 25% | -2.7% to -0.1% | -0.1% |
| Day +7 | 20 | -1.4% | -2.0% to +1.5% | 30% | -1.8% to +1.3% | 0.0% |
| Day +8 | 20 | -1.0% | -2.5% to +1.0% | 40% | -2.3% to +0.6% | 0.0% |
| Day +9 | 20 | -0.8% | -2.2% to +2.2% | 40% | -2.0% to +1.9% | 0.0% |
| Day +10 | 20 | +0.1% | -2.5% to +2.7% | 55% | -2.5% to +2.6% | 0.0% |
Crosses above gamma max 20 completed Day +10 paths · latest Jun 2, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 20 | +0.0% | -0.7% to +0.9% | 50% | -0.6% to +0.8% | 0.0% |
| Day +2 | 20 | +0.4% | -1.1% to +1.6% | 55% | -1.1% to +1.5% | 0.0% |
| Day +3 | 20 | +0.4% | -1.9% to +1.1% | 55% | -1.8% to +1.0% | 0.0% |
| Day +4 | 20 | +0.2% | -2.1% to +1.9% | 55% | -2.0% to +1.8% | 0.0% |
| Day +5 | 20 | +0.2% | -2.2% to +1.8% | 50% | -2.1% to +1.6% | 0.0% |
| Day +6 | 20 | -0.8% | -2.5% to +3.0% | 45% | -2.5% to +2.9% | 0.0% |
| Day +7 | 20 | -1.0% | -2.9% to +2.9% | 40% | -2.7% to +2.8% | 0.0% |
| Day +8 | 20 | -1.4% | -2.7% to +3.6% | 40% | -2.5% to +3.3% | 0.0% |
| Day +9 | 20 | -0.1% | -3.3% to +3.1% | 50% | -3.1% to +2.8% | 0.0% |
| Day +10 | 20 | -0.4% | -2.5% to +3.2% | 50% | -2.3% to +3.1% | 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 | 8% |
| Gamma max crosses | 16 |
| Delta neutral crosses | 2 |
| Prior-year sessions closer to gamma max | 55.2% of 252 |
| Prior-year sessions closer to delta neutral | 22.6% of 252 |
| Open interest percentile (1y) | 28th |
| Daily open interest change versus prior year | -0.61σ (-35,845 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +0.9% |
| Open interest change, 21 sessions | -17.7% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 126.55 vs 128.42 (-1.5%)
- closed above gamma max at 128.04 vs 126.18 (+1.5%)
- closed below gamma max at 118.33 vs 120.60 (-1.9%)
- closed above gamma max at 120.41 vs 119.61 (+0.7%)
- closed below gamma max at 118.21 vs 118.40 (-0.2%)
- closed above gamma max at 96.57 vs 94.54 (+2.1%)
- closed below gamma max at 89.70 vs 89.71 (-0.0%)
- closed above gamma max at 87.71 vs 87.56 (+0.2%)
- closed above delta neutral at 76.85 vs 73.99 (+3.7%)
- closed below delta neutral at 75.00 vs 75.46 (-0.6%)
In today's screens
Neighbours by open interest
Cite or embed this snapshot
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Canonical source: https://halfonadouble.com/stock/CSCO
Questions people ask about CSCO
Where is CSCO's gamma max today?
As of Oct 2, 2026, the gamma max for CSCO is 118.21, +5.4% from the 112.20 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 CSCO above or below its delta neutral price?
CSCO closed above delta neutral: 112.20 against a delta neutral price of 106.57. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does CSCO have?
845,143 contracts of open interest across 889 listed contracts on Oct 2, 2026, -4.1% 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.