FEZ max pain, gamma exposure (GEX) & options open interest
As of close · rank #486 by open interest · 1,394 sessions of history since Dec 1, 2020
FEZ's nearest-expiration max pain is 68.00 for 2026-10-09, its GEX flip is 72.98, net GEX is -45,949,560, its put/call open-interest ratio is 2.11. 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: front IV premium 66.2 pp · OI change 0.16σ · 7d expected move +11.9%
FEZ closed 14.0% below its gamma max of 76.37. It is 3.0% below the delta neutral price of 68.98. Total open interest is 154,977, +1.6% versus the previous session. Its options catalyst-intensity score is 58.0 out of 100, led by front IV premium 66.2 pp, OI change 0.16σ, 7d expected move +11.9%. 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 | -116 contracts · -0.2% |
| Put OI change, 1 session | +2,579 contracts · +2.5% |
| Call minus put OI growth, 1 session | -2.7 pp |
| Call OI change, 5 sessions | +6,580 contracts · +15.2% |
| Put OI change, 5 sessions | +3,987 contracts · +3.9% |
| Call minus put OI growth, 5 sessions | +11.3 pp |
| Daily call OI change surprise | -0.02σ (252 prior changes) |
| Daily put OI change surprise | +0.37σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.16σ (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 19 completed Day +10 paths · latest Aug 21, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 19 | +0.3% | -0.6% to +0.7% | 58% | -0.6% to +0.7% | 0.0% |
| Day +2 | 19 | +0.1% | -1.3% to +1.1% | 53% | -1.1% to +1.1% | 0.0% |
| Day +3 | 19 | -0.1% | -0.9% to +0.8% | 47% | -0.7% to +0.7% | 0.0% |
| Day +4 | 19 | +0.1% | -1.0% to +0.8% | 58% | -0.9% to +0.8% | 0.0% |
| Day +5 | 19 | +0.1% | -0.9% to +0.9% | 53% | -0.8% to +0.7% | 0.0% |
| Day +6 | 19 | +0.1% | -1.3% to +1.4% | 53% | -1.2% to +1.4% | 0.0% |
| Day +7 | 19 | -0.4% | -1.2% to +2.1% | 42% | -1.0% to +1.7% | 0.0% |
| Day +8 | 19 | +0.6% | -1.6% to +1.2% | 53% | -1.6% to +1.0% | 0.0% |
| Day +9 | 19 | +0.4% | -1.2% to +1.8% | 53% | -1.1% to +1.6% | 0.0% |
| Day +10 | 19 | +0.4% | -1.3% to +2.1% | 58% | -1.1% to +2.1% | 0.0% |
Crosses above gamma max 22 completed Day +10 paths · latest Aug 17, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 22 | -0.2% | -0.4% to +0.8% | 45% | -0.3% to +0.7% | 0.0% |
| Day +2 | 22 | +0.0% | -0.4% to +1.1% | 50% | -0.3% to +1.1% | 0.0% |
| Day +3 | 22 | +0.1% | -0.8% to +0.9% | 55% | -0.8% to +0.7% | 0.0% |
| Day +4 | 22 | +0.3% | -0.4% to +0.8% | 64% | -0.2% to +0.7% | 0.0% |
| Day +5 | 22 | -0.0% | -1.7% to +0.8% | 50% | -1.1% to +0.6% | 0.0% |
| Day +6 | 22 | +0.4% | -1.2% to +1.3% | 59% | -0.7% to +1.3% | 0.0% |
| Day +7 | 22 | +0.0% | -0.8% to +1.8% | 50% | -0.8% to +1.6% | 0.0% |
| Day +8 | 22 | +0.1% | -1.3% to +1.9% | 50% | -1.0% to +1.5% | 0.0% |
| Day +9 | 22 | -0.1% | -1.4% to +1.5% | 50% | -1.3% to +1.3% | 0.0% |
| Day +10 | 22 | +0.4% | -1.1% to +1.7% | 55% | -0.9% to +1.5% | 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 | 6% |
| Gamma max crosses | 12 |
| Delta neutral crosses | 27 |
| Prior-year sessions closer to gamma max | 90.1% of 252 |
| Prior-year sessions closer to delta neutral | 63.9% of 252 |
| Open interest percentile (1y) | 88th |
| Daily open interest change versus prior year | +0.16σ (2,463 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +7.3% |
| Open interest change, 21 sessions | +64.5% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 67.96 vs 69.13 (-1.7%)
- closed above delta neutral at 68.28 vs 67.80 (+0.7%)
- closed below delta neutral at 68.88 vs 69.35 (-0.7%)
- closed above delta neutral at 69.70 vs 69.47 (+0.3%)
- closed below delta neutral at 69.04 vs 69.17 (-0.2%)
- closed below gamma max at 71.76 vs 77.39 (-7.8%)
- closed above gamma max at 71.91 vs 71.74 (+0.2%)
- closed below gamma max at 72.10 vs 72.30 (-0.3%)
- closed above gamma max at 71.86 vs 71.86 (+0.0%)
- closed above delta neutral at 68.92 vs 68.01 (+1.3%)
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/FEZ
Questions people ask about FEZ
Where is FEZ's gamma max today?
As of Oct 2, 2026, the gamma max for FEZ is 76.37, +14.0% from the 67.00 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 FEZ above or below its delta neutral price?
FEZ closed below delta neutral: 67.00 against a delta neutral price of 68.98. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does FEZ have?
154,977 contracts of open interest across 236 listed contracts on Oct 2, 2026, +1.6% 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.