# GAP: options-positioning snapshot

Canonical: https://halfonadouble.com/stock/GAP
Data through: 2026-10-02 close
Publisher: Half on a Double

| Published field | Value |
| --- | --- |
| Close (USD/share) | 22.51 |
| Delta neutral (USD/share) | 20.74 |
| Gamma neutral (USD/share) | 18.86 |
| Gamma max (USD/share) | 24.20 |
| Open interest (contracts) | 166,837 |
| Nearest-expiration max pain (USD/share) | 23.00 (2026-10-09) |
| All-expiration max pain (USD/share) | 22.00 |
| Net gamma exposure | 7,661,798 |
| Confirmed GEX flip (USD/share) | 18.86 |
| Call wall (USD/share) | 24.00 |
| Put wall (USD/share) | 22.00 |
| Put/call open-interest ratio | 0.71 |
| Options catalyst-intensity score (0–100) | 42.8 |
| Options directional score (-100 to +100) | -25.3 |
| IV rank | 49.6 |
| Front ATM IV | +40.7% |
| Front-minus-back IV | -7.2 pp |
| Front expected move | +5.6% |
| Front ATM straddle / spot | +4.2% |
| Front 25-delta risk reversal | 68.8 pp |
| Call OI change, 1 session | -6,518 contracts · -6.2% |
| Put OI change, 1 session | -2,736 contracts · -3.8% |
| Call minus put OI growth, 1 session | -2.4 pp |
| Call OI change, 5 sessions | -5,182 contracts · -5.0% |
| Put OI change, 5 sessions | +978 contracts · +1.4% |
| Call minus put OI growth, 5 sessions | -6.5 pp |
| Daily call OI change surprise | -0.51σ (252 prior changes) |
| Daily put OI change surprise | -0.34σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.33σ (252 prior changes) |
| Daily open interest change (contracts) | -9,254 |
| Daily open interest change z-score (prior 252) | -0.50σ (252 prior changes) |
| Gamma max distance from close | +7.5% |
| Delta neutral distance from close | -7.9% |
| Prior-year sessions closer to gamma max | 42.1% of 252 |
| Prior-year sessions closer to delta neutral | 64.3% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 19 | -0.5% | -1.2% to +1.1% | 32% | -1.1% to +1.0% | 0.0% |
| above | Day +3 | 19 | +1.2% | -3.1% to +5.4% | 58% | -2.8% to +4.9% | 0.0% |
| above | Day +5 | 19 | +1.0% | -3.1% to +4.8% | 53% | -2.3% to +3.4% | 0.0% |
| above | Day +10 | 19 | +5.4% | -2.6% to +10.8% | 63% | -1.7% to +10.5% | 0.0% |
| below | Day +1 | 18 | -1.6% | -2.2% to +2.0% | 39% | -2.0% to +1.5% | 0.0% |
| below | Day +3 | 18 | +0.5% | -2.3% to +4.6% | 61% | -2.3% to +4.2% | 0.0% |
| below | Day +5 | 18 | -0.5% | -2.6% to +9.8% | 44% | -1.3% to +9.4% | 0.0% |
| below | Day +10 | 18 | +4.1% | -1.8% to +10.5% | 67% | -1.3% to +9.7% | 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/GAP.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/GAP.csv)
- [Complete advanced analysis](https://halfonadouble.com/api/v1/analysis/GAP.json?date=2026-10-02)

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

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