# FLUT: options-positioning snapshot

Canonical: https://halfonadouble.com/stock/FLUT
Data through: 2026-11-13 close
Publisher: Half on a Double

| Published field | Value |
| --- | --- |
| Close (USD/share) | 81.13 |
| Delta neutral (USD/share) | 95.27 |
| Gamma neutral (USD/share) | 102.18 |
| Gamma max (USD/share) | 162.93 |
| Open interest (contracts) | 103,124 |
| Nearest-expiration max pain (USD/share) | 85.00 (2026-11-20) |
| All-expiration max pain (USD/share) | 100.00 |
| Net gamma exposure | -4,999,734 |
| Confirmed GEX flip (USD/share) | 102.18 |
| Call wall (USD/share) | 100.00 |
| Put wall (USD/share) | 80.00 |
| Put/call open-interest ratio | 1.31 |
| Net GEX sign history | negative for the last 105 sessions; negative on 171 of the past 252 |
| Max pain expiration record (past 252 sessions) | expiration close nearer the prior-session max pain on 3 of 12 expirations (25%); median distance 7.54% vs 0.93% for an unchanged prior close |
| Options catalyst-intensity score (0–100) | 55.2 |
| Options directional score (-100 to +100) | -37.8 |
| IV rank | 11.7 |
| Front-minus-back IV | 15.2 pp |
| Front 25-delta risk reversal | 12.4 pp |
| Call OI change, 1 session | +715 contracts · +1.6% |
| Put OI change, 1 session | +1,662 contracts · +2.9% |
| Call minus put OI growth, 1 session | -1.3 pp |
| Call OI change, 5 sessions | +1,294 contracts · +3.0% |
| Put OI change, 5 sessions | +3,761 contracts · +6.9% |
| Call minus put OI growth, 5 sessions | -3.9 pp |
| Daily call OI change surprise | +0.22σ (252 prior changes) |
| Daily put OI change surprise | +0.69σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.15σ (252 prior changes) |
| Daily open interest change (contracts) | 2,377 |
| Daily open interest change z-score (prior 252) | +0.45σ (252 prior changes) |
| Gamma max distance from close | +100.8% |
| Delta neutral distance from close | +17.4% |
| Prior-year sessions closer to gamma max | 88.9% of 252 |
| Prior-year sessions closer to delta neutral | 77.4% of 252 |

## Recent expirations vs max pain

| Expiration | Max pain (session before) | Prior close | Expiration close | Close vs max pain | Nearer |
| --- | ---: | ---: | ---: | ---: | --- |
| 2026-10-16 | 85.00 | 76.18 | 75.60 | -12.34% | Prior close |
| 2026-09-18 | 100.00 | 92.50 | 89.56 | -11.29% | Prior close |
| 2026-08-21 | 100.00 | 99.57 | 102.61 | +2.62% | Max pain |
| 2026-07-17 | 105.00 | 108.30 | 106.56 | +1.44% | Max pain |
| 2026-06-18 | 105.00 | 101.65 | 101.83 | -3.12% | Prior close |
| 2026-05-15 | 105.00 | 93.56 | 92.80 | -13.04% | Prior close |
| 2026-04-17 | 110.00 | 109.06 | 110.08 | +0.07% | Max pain |
| 2026-03-20 | 115.00 | 106.41 | 104.81 | -9.58% | Prior close |
| 2026-02-20 | 135.00 | 122.16 | 121.02 | -11.44% | Prior close |
| 2026-01-16 | 210.00 | 201.08 | 188.46 | -10.71% | Prior close |

Each expiration compares the last session before it, when it was the nearest expiration, with the expiration-session close; distances are percentages of that prior close. Underlying closes are not option settlement values. Descriptive history, not a forecast.

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 16 | +0.7% | -0.8% to +1.1% | 69% | -0.6% to +1.1% | 0.0% |
| above | Day +3 | 16 | +0.3% | -1.7% to +1.3% | 63% | -1.1% to +0.6% | 0.0% |
| above | Day +5 | 16 | -0.1% | -2.6% to +2.5% | 50% | -2.5% to +2.4% | 0.0% |
| above | Day +10 | 16 | -0.5% | -4.7% to +4.2% | 44% | -4.5% to +4.0% | 0.0% |
| below | Day +1 | 13 | +0.3% | -1.1% to +1.3% | 54% | -1.1% to +1.3% | 0.0% |
| below | Day +3 | 13 | +1.3% | -0.8% to +2.2% | 62% | -0.8% to +2.2% | 0.0% |
| below | Day +5 | 13 | +0.1% | -2.5% to +2.9% | 54% | -2.5% to +2.9% | 0.0% |
| below | Day +10 | 13 | -0.3% | -3.6% to +3.5% | 46% | -3.6% to +3.5% | 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/FLUT.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/FLUT.csv)
- [Public aggregate analysis](https://halfonadouble.com/api/v1/analysis/FLUT.json?date=2026-11-13&public_schema=5)

An em dash means unavailable, not zero. Values use the same display rounding as the HTML page. This is a current snapshot; the 60-session close-versus-max-pain chart, full history and individual event paths are on the canonical page.

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