FCEL max pain, gamma exposure (GEX) & options open interest
As of close · rank #495 by open interest · 1,349 sessions of history since Dec 1, 2020
FCEL's nearest-expiration max pain is 16.50 for 2026-10-09, its GEX flip is 14.96, net GEX is 4,664,102, its put/call open-interest ratio is 0.47. 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: 7d expected move +13.2% · volume/OI 0.11 · front IV premium 1.4 pp
FCEL closed 10.7% below its gamma max of 20.45. It is 16.4% above the delta neutral price of 15.44. Total open interest is 149,245, -6.6% versus the previous session. Its options catalyst-intensity score is 65.8 out of 100, led by 7d expected move +13.2%, volume/OI 0.11, front IV premium 1.4 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 | -7,024 contracts · -6.5% |
| Put OI change, 1 session | -3,544 contracts · -6.9% |
| Call minus put OI growth, 1 session | +0.4 pp |
| Call OI change, 5 sessions | +3,587 contracts · +3.7% |
| Put OI change, 5 sessions | +5,402 contracts · +12.7% |
| Call minus put OI growth, 5 sessions | -9.1 pp |
| Daily call OI change surprise | -0.78σ (252 prior changes) |
| Daily put OI change surprise | -1.08σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.07σ (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 47 completed Day +10 paths · latest Jul 30, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 47 | +1.0% | -2.2% to +5.6% | 60% | -0.4% to +2.5% | 0.0% |
| Day +2 | 47 | +1.2% | -7.2% to +8.4% | 51% | -3.1% to +3.9% | 0.0% |
| Day +3 | 47 | -2.4% | -7.4% to +16.7% | 45% | -5.0% to +2.6% | 0.0% |
| Day +4 | 47 | -3.8% | -9.9% to +14.1% | 38% | -8.1% to +0.4% | 0.0% |
| Day +5 | 47 | -6.1% | -12.8% to +8.4% | 30% | -9.4% to -1.0% | -1.0% |
| Day +6 | 47 | -2.0% | -16.2% to +10.0% | 43% | -9.2% to +5.7% | 0.0% |
| Day +7 | 47 | -4.8% | -16.6% to +17.5% | 47% | -10.3% to +5.4% | 0.0% |
| Day +8 | 47 | -0.1% | -17.9% to +15.3% | 49% | -12.5% to +10.5% | 0.0% |
| Day +9 | 47 | -1.4% | -17.4% to +14.7% | 47% | -9.6% to +7.9% | 0.0% |
| Day +10 | 47 | -3.4% | -17.4% to +18.3% | 45% | -13.9% to +5.8% | 0.0% |
Crosses below gamma max 46 completed Day +10 paths · latest Jul 28, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 46 | -1.9% | -4.8% to +3.4% | 41% | -3.9% to +1.7% | 0.0% |
| Day +2 | 46 | -2.8% | -6.4% to +8.2% | 39% | -5.3% to +3.2% | 0.0% |
| Day +3 | 46 | -3.9% | -7.5% to +7.6% | 41% | -5.7% to +2.5% | 0.0% |
| Day +4 | 46 | -3.0% | -11.2% to +5.1% | 41% | -6.7% to +3.4% | 0.0% |
| Day +5 | 46 | -0.9% | -13.1% to +14.1% | 48% | -7.7% to +7.1% | 0.0% |
| Day +6 | 46 | -3.8% | -11.8% to +18.1% | 46% | -9.7% to +10.2% | 0.0% |
| Day +7 | 46 | -1.5% | -15.0% to +16.9% | 48% | -8.7% to +10.7% | 0.0% |
| Day +8 | 46 | +2.5% | -16.4% to +14.6% | 52% | -8.1% to +12.4% | 0.0% |
| Day +9 | 46 | +0.6% | -12.7% to +18.1% | 52% | -8.5% to +11.8% | 0.0% |
| Day +10 | 46 | +1.1% | -14.3% to +18.0% | 50% | -6.9% to +12.1% | 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 | 16% |
| Gamma max crosses | 24 |
| Delta neutral crosses | 2 |
| Prior-year sessions closer to gamma max | 39.7% of 252 |
| Prior-year sessions closer to delta neutral | 27.0% of 252 |
| Open interest percentile (1y) | 66th |
| Daily open interest change versus prior year | -0.89σ (-10,568 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +6.4% |
| Open interest change, 21 sessions | -7.7% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed above delta neutral at 14.95 vs 13.97 (+6.5%)
- closed below delta neutral at 14.40 vs 15.83 (-9.9%)
- closed below gamma max at 21.61 vs 24.93 (-15.4%)
- closed above gamma max at 23.62 vs 21.71 (+8.1%)
- closed below gamma max at 19.66 vs 20.56 (-4.6%)
- closed above gamma max at 21.64 vs 20.81 (+3.8%)
- closed below gamma max at 25.94 vs 28.04 (-8.1%)
- closed above gamma max at 28.11 vs 27.06 (+3.7%)
- closed below gamma max at 31.82 vs 34.74 (-9.2%)
- closed above gamma max at 23.98 vs 23.62 (+1.5%)
In today's screens
Neighbours by open interest
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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/FCEL
Questions people ask about FCEL
Where is FCEL's gamma max today?
As of Oct 2, 2026, the gamma max for FCEL is 20.45, +10.7% from the 18.47 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 FCEL above or below its delta neutral price?
FCEL closed above delta neutral: 18.47 against a delta neutral price of 15.44. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does FCEL have?
149,245 contracts of open interest across 437 listed contracts on Oct 2, 2026, -6.6% 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.