# DOW: options-positioning snapshot

Canonical: https://halfonadouble.com/stock/DOW
Data through: 2026-10-02 close
Publisher: Half on a Double

| Published field | Value |
| --- | --- |
| Close (USD/share) | 27.97 |
| Delta neutral (USD/share) | 29.77 |
| Gamma neutral (USD/share) | 28.18 |
| Gamma max (USD/share) | 32.60 |
| Open interest (contracts) | 409,765 |
| Nearest-expiration max pain (USD/share) | 28.00 (2026-10-09) |
| All-expiration max pain (USD/share) | 30.00 |
| Net gamma exposure | -1,021,399 |
| Confirmed GEX flip (USD/share) | 28.18 |
| Call wall (USD/share) | 30.00 |
| Put wall (USD/share) | 30.00 |
| Put/call open-interest ratio | 0.98 |
| Options catalyst-intensity score (0–100) | 55.6 |
| Options directional score (-100 to +100) | 11.9 |
| IV rank | 87.4 |
| Front ATM IV | +38.6% |
| Front-minus-back IV | -3.0 pp |
| Front expected move | +5.3% |
| Front ATM straddle / spot | +3.8% |
| Front 25-delta risk reversal | -240.5 pp |
| Call OI change, 1 session | -5,824 contracts · -2.7% |
| Put OI change, 1 session | -5,786 contracts · -2.8% |
| Call minus put OI growth, 1 session | +0.0 pp |
| Call OI change, 5 sessions | +14,500 contracts · +7.5% |
| Put OI change, 5 sessions | +8,528 contracts · +4.4% |
| Call minus put OI growth, 5 sessions | +3.1 pp |
| Daily call OI change surprise | -0.29σ (252 prior changes) |
| Daily put OI change surprise | -0.49σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.02σ (252 prior changes) |
| Daily open interest change (contracts) | -11,610 |
| Daily open interest change z-score (prior 252) | -0.39σ (252 prior changes) |
| Gamma max distance from close | +16.6% |
| Delta neutral distance from close | +6.4% |
| Prior-year sessions closer to gamma max | 71.0% of 252 |
| Prior-year sessions closer to delta neutral | 53.2% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 22 | +0.0% | -1.2% to +1.2% | 50% | -1.1% to +1.2% | 0.0% |
| above | Day +3 | 22 | -0.7% | -2.5% to +0.7% | 36% | -1.8% to +0.7% | 0.0% |
| above | Day +5 | 22 | -0.3% | -1.6% to +2.2% | 45% | -1.4% to +2.0% | 0.0% |
| above | Day +10 | 22 | -1.6% | -4.0% to +1.3% | 32% | -3.9% to +1.1% | 0.0% |
| below | Day +1 | 22 | -0.6% | -1.6% to +1.4% | 32% | -1.6% to +1.0% | 0.0% |
| below | Day +3 | 22 | +0.3% | -2.3% to +3.1% | 50% | -2.2% to +2.7% | 0.0% |
| below | Day +5 | 22 | +0.6% | -3.1% to +2.9% | 59% | -2.3% to +2.2% | 0.0% |
| below | Day +10 | 22 | -0.2% | -3.0% to +2.8% | 45% | -2.5% to +2.8% | 0.0% |

Returns are close-to-close after the labelled number of subsequent trading sessions. Cohorts require gamma max to be within 10% of the close on both crossing sessions. Historical windows can overlap and are not independent observations, so interval coverage is not guaranteed.

- [Machine-readable snapshot](https://halfonadouble.com/api/v1/tickers/DOW.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/DOW.csv)
- [Complete advanced analysis](https://halfonadouble.com/api/v1/analysis/DOW.json?date=2026-10-02)

An em dash means unavailable, not zero. Values use the same display rounding as the HTML page. This is a current snapshot; full history and individual event paths are on the canonical page.

[Definitions and limitations](https://halfonadouble.com/methodology.md).