FRO max pain, gamma exposure (GEX) & options open interest
As of close · rank #452 by open interest · 1,393 sessions of history since Dec 1, 2020
FRO's nearest-expiration max pain is 50.00 for 2026-10-16, its GEX flip is 47.15, net GEX is 9,530,723, its put/call open-interest ratio is 0.84. 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: OI change 0.45σ · 25Δ risk reversal -116.7 pp · 14d expected move +10.4%
FRO closed 5.7% below its gamma max of 55.76. It is 10.0% above the delta neutral price of 47.45. Total open interest is 168,953, +3.6% versus the previous session. Its options catalyst-intensity score is 64.8 out of 100, led by OI change 0.45σ, 25Δ risk reversal -116.7 pp, 14d expected move +10.4%. 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 | +5,489 contracts · +6.4% |
| Put OI change, 1 session | +404 contracts · +0.5% |
| Call minus put OI growth, 1 session | +5.8 pp |
| Call OI change, 5 sessions | +8,870 contracts · +10.7% |
| Put OI change, 5 sessions | +2,086 contracts · +2.8% |
| Call minus put OI growth, 5 sessions | +7.9 pp |
| Daily call OI change surprise | +0.63σ (250 prior changes) |
| Daily put OI change surprise | +0.03σ (250 prior changes) |
| Daily call-minus-put growth surprise | +0.62σ (250 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 52 completed Day +10 paths · latest Sep 17, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 52 | +0.2% | -2.0% to +1.5% | 54% | -0.7% to +1.1% | 0.0% |
| Day +2 | 52 | +0.2% | -2.5% to +2.9% | 52% | -1.0% to +1.4% | 0.0% |
| Day +3 | 52 | +1.1% | -3.3% to +3.8% | 60% | -1.7% to +2.0% | 0.0% |
| Day +4 | 52 | +0.2% | -4.1% to +3.7% | 52% | -2.0% to +2.0% | 0.0% |
| Day +5 | 52 | -0.2% | -5.1% to +4.9% | 48% | -2.9% to +2.0% | 0.0% |
| Day +6 | 52 | +1.2% | -5.8% to +5.9% | 52% | -2.8% to +3.6% | 0.0% |
| Day +7 | 52 | +0.4% | -7.7% to +5.7% | 52% | -2.7% to +2.8% | 0.0% |
| Day +8 | 52 | -1.4% | -7.8% to +5.9% | 44% | -3.8% to +1.4% | 0.0% |
| Day +9 | 52 | -2.5% | -7.5% to +4.3% | 42% | -5.7% to +1.8% | 0.0% |
| Day +10 | 52 | -0.5% | -6.9% to +4.1% | 48% | -4.4% to +1.6% | 0.0% |
Crosses above gamma max 54 completed Day +10 paths · latest Sep 14, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 54 | -0.5% | -1.7% to +1.7% | 39% | -1.0% to +0.1% | 0.0% |
| Day +2 | 54 | +0.5% | -2.5% to +2.8% | 54% | -1.0% to +1.8% | 0.0% |
| Day +3 | 54 | -0.3% | -2.1% to +2.7% | 48% | -1.0% to +1.8% | 0.0% |
| Day +4 | 54 | +1.3% | -3.5% to +4.0% | 59% | -0.5% to +2.8% | 0.0% |
| Day +5 | 54 | +0.2% | -3.5% to +4.7% | 54% | -1.5% to +1.8% | 0.0% |
| Day +6 | 54 | -0.4% | -5.1% to +3.7% | 50% | -2.5% to +1.7% | 0.0% |
| Day +7 | 54 | -0.6% | -5.5% to +4.7% | 46% | -2.1% to +1.9% | 0.0% |
| Day +8 | 54 | -0.2% | -5.4% to +3.4% | 48% | -2.4% to +1.6% | 0.0% |
| Day +9 | 54 | -2.5% | -5.2% to +5.6% | 41% | -4.5% to +1.2% | 0.0% |
| Day +10 | 54 | -2.4% | -8.4% to +4.4% | 37% | -4.2% to -0.1% | -0.1% |
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 | 20% |
| Gamma max crosses | 16 |
| Delta neutral crosses | 18 |
| Prior-year sessions closer to gamma max | 43.7% of 252 |
| Prior-year sessions closer to delta neutral | 54.4% of 252 |
| Open interest percentile (1y) | 99th |
| Daily open interest change versus prior year | +0.45σ (5,893 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +6.9% |
| Open interest change, 21 sessions | +27.6% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 54.03 vs 54.59 (-1.0%)
- closed above gamma max at 50.52 vs 48.89 (+3.2%)
- closed above delta neutral at 43.75 vs 42.45 (+3.0%)
- closed below delta neutral at 41.20 vs 42.13 (-2.3%)
- closed above delta neutral at 39.57 vs 39.14 (+1.1%)
- closed below delta neutral at 38.45 vs 38.96 (-1.3%)
- closed above delta neutral at 39.74 vs 39.13 (+1.5%)
- closed below delta neutral at 37.97 vs 38.75 (-2.1%)
- closed above delta neutral at 39.37 vs 39.15 (+0.6%)
- closed below delta neutral at 39.10 vs 39.34 (-0.6%)
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/FRO
Questions people ask about FRO
Where is FRO's gamma max today?
As of Oct 2, 2026, the gamma max for FRO is 55.76, +5.7% from the 52.74 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 FRO above or below its delta neutral price?
FRO closed above delta neutral: 52.74 against a delta neutral price of 47.45. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does FRO have?
168,953 contracts of open interest across 238 listed contracts on Oct 2, 2026, +3.6% 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.