EQT max pain, gamma exposure (GEX) & options open interest
As of close · rank #280 by open interest · 1,394 sessions of history since Dec 1, 2020
EQT's nearest-expiration max pain is 50.00 for 2026-10-09, its GEX flip is 54.69, net GEX is -52,695,793, its put/call open-interest ratio is 1.16. 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 · 25Δ risk reversal -51.2 pp · volume/OI 0.09
EQT closed 25.8% below its gamma max of 63.13. It is 4.2% below the delta neutral price of 52.28. Total open interest is 342,106, -3.7% versus the previous session. Its options catalyst-intensity score is 63.2 out of 100, led by IV rank 100, 25Δ risk reversal -51.2 pp, 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 | -7,521 contracts · -4.5% |
| Put OI change, 1 session | -5,638 contracts · -3.0% |
| Call minus put OI growth, 1 session | -1.6 pp |
| Call OI change, 5 sessions | +8,995 contracts · +6.0% |
| Put OI change, 5 sessions | +7,169 contracts · +4.1% |
| Call minus put OI growth, 5 sessions | +2.0 pp |
| Daily call OI change surprise | -0.63σ (252 prior changes) |
| Daily put OI change surprise | -0.44σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.25σ (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 36 completed Day +10 paths · latest Mar 16, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 36 | +0.0% | -1.3% to +1.2% | 50% | -1.0% to +0.8% | 0.0% |
| Day +2 | 36 | -0.9% | -1.7% to +1.1% | 47% | -1.5% to +0.6% | 0.0% |
| Day +3 | 36 | -0.3% | -3.9% to +1.7% | 47% | -2.6% to +0.9% | 0.0% |
| Day +4 | 36 | -1.2% | -4.6% to +2.2% | 44% | -2.8% to +0.7% | 0.0% |
| Day +5 | 36 | -1.6% | -6.5% to +2.4% | 39% | -3.5% to +0.4% | 0.0% |
| Day +6 | 36 | -1.0% | -7.2% to +1.7% | 39% | -4.4% to +1.1% | 0.0% |
| Day +7 | 36 | -2.7% | -6.4% to +3.4% | 36% | -4.3% to +0.3% | 0.0% |
| Day +8 | 36 | -2.8% | -4.6% to +2.8% | 39% | -3.9% to +0.4% | 0.0% |
| Day +9 | 36 | -1.6% | -5.6% to +1.7% | 39% | -4.1% to +0.9% | 0.0% |
| Day +10 | 36 | -2.2% | -4.9% to +2.9% | 36% | -4.1% to +0.2% | 0.0% |
Crosses above gamma max 37 completed Day +10 paths · latest Feb 26, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 37 | +0.2% | -1.2% to +1.2% | 54% | -0.6% to +0.7% | 0.0% |
| Day +2 | 37 | +0.3% | -2.7% to +2.2% | 51% | -0.8% to +1.0% | 0.0% |
| Day +3 | 37 | -0.5% | -4.1% to +2.1% | 46% | -2.7% to +0.9% | 0.0% |
| Day +4 | 37 | -1.3% | -4.4% to +3.5% | 41% | -2.7% to +1.2% | 0.0% |
| Day +5 | 37 | -1.0% | -4.8% to +3.4% | 38% | -3.2% to +1.4% | 0.0% |
| Day +6 | 37 | -1.3% | -6.9% to +3.9% | 43% | -3.6% to +1.8% | 0.0% |
| Day +7 | 37 | -2.8% | -7.2% to +4.2% | 38% | -4.9% to +0.3% | 0.0% |
| Day +8 | 37 | -3.1% | -8.3% to +4.1% | 41% | -5.6% to +1.3% | 0.0% |
| Day +9 | 37 | -2.9% | -7.9% to +4.5% | 38% | -5.2% to +2.5% | 0.0% |
| Day +10 | 37 | -0.9% | -8.1% to +2.6% | 43% | -5.2% to +1.2% | 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 | 7% |
| Gamma max crosses | 10 |
| Delta neutral crosses | 17 |
| Prior-year sessions closer to gamma max | 98.4% of 252 |
| Prior-year sessions closer to delta neutral | 56.7% of 252 |
| Open interest percentile (1y) | 52th |
| Daily open interest change versus prior year | -0.59σ (-13,159 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +5.0% |
| Open interest change, 21 sessions | +6.0% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 53.22 vs 53.86 (-1.2%)
- closed above delta neutral at 54.08 vs 52.47 (+3.0%)
- closed below delta neutral at 51.21 vs 52.11 (-1.8%)
- closed above delta neutral at 52.57 vs 52.14 (+0.8%)
- closed below delta neutral at 52.01 vs 52.19 (-0.3%)
- closed above delta neutral at 54.04 vs 51.99 (+3.8%)
- closed below delta neutral at 51.71 vs 52.35 (-1.2%)
- closed above delta neutral at 53.17 vs 52.57 (+1.1%)
- closed below delta neutral at 56.21 vs 56.49 (-0.5%)
- closed above delta neutral at 57.47 vs 56.89 (+1.0%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/EQT
Questions people ask about EQT
Where is EQT's gamma max today?
As of Oct 2, 2026, the gamma max for EQT is 63.13, +25.8% from the 50.17 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 EQT above or below its delta neutral price?
EQT closed below delta neutral: 50.17 against a delta neutral price of 52.28. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does EQT have?
342,106 contracts of open interest across 433 listed contracts on Oct 2, 2026, -3.7% 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.