GDS max pain, gamma exposure (GEX) & options open interest
As of close · rank #574 by open interest · 1,394 sessions of history since Dec 1, 2020
GDS's nearest-expiration max pain is 32.00 for 2026-10-16, its GEX flip is 26.20, net GEX is 990,467, its put/call open-interest ratio is 0.63. 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 15.7 pp · 14d expected move +15.7% · smile convexity -11.6 pp
GDS closed 28.5% below its gamma max of 35.42. It is 1.5% below the delta neutral price of 27.99. Total open interest is 121,671, -4.4% versus the previous session. Its options catalyst-intensity score is 60.5 out of 100, led by front IV premium 15.7 pp, 14d expected move +15.7%, smile convexity -11.6 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 | -2,606 contracts · -3.4% |
| Put OI change, 1 session | -3,055 contracts · -6.1% |
| Call minus put OI growth, 1 session | +2.7 pp |
| Call OI change, 5 sessions | -3,619 contracts · -4.6% |
| Put OI change, 5 sessions | -3,500 contracts · -6.9% |
| Call minus put OI growth, 5 sessions | +2.3 pp |
| Daily call OI change surprise | -0.51σ (252 prior changes) |
| Daily put OI change surprise | -1.06σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.35σ (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 26 completed Day +10 paths · latest Aug 18, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 26 | +1.8% | -1.2% to +4.0% | 62% | -0.6% to +2.9% | 0.0% |
| Day +2 | 26 | -1.3% | -3.8% to +4.0% | 35% | -3.3% to +3.0% | 0.0% |
| Day +3 | 26 | +0.5% | -4.6% to +4.1% | 54% | -2.7% to +2.2% | 0.0% |
| Day +4 | 26 | +2.1% | -3.4% to +4.4% | 58% | -1.3% to +3.6% | 0.0% |
| Day +5 | 26 | +0.2% | -4.1% to +5.6% | 50% | -2.6% to +3.6% | 0.0% |
| Day +6 | 26 | -0.1% | -3.7% to +6.9% | 50% | -3.2% to +5.7% | 0.0% |
| Day +7 | 26 | +3.6% | -0.9% to +8.6% | 62% | -0.4% to +6.4% | 0.0% |
| Day +8 | 26 | +2.6% | -2.6% to +8.0% | 62% | -0.7% to +6.0% | 0.0% |
| Day +9 | 26 | +3.5% | -3.9% to +8.4% | 62% | -1.2% to +7.3% | 0.0% |
| Day +10 | 26 | +3.7% | -7.7% to +13.1% | 62% | -3.8% to +6.9% | 0.0% |
Crosses above gamma max 26 completed Day +10 paths · latest Aug 17, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 26 | -0.4% | -2.7% to +1.4% | 42% | -1.8% to +0.8% | 0.0% |
| Day +2 | 26 | -0.2% | -3.3% to +3.6% | 46% | -2.7% to +3.0% | 0.0% |
| Day +3 | 26 | -0.6% | -2.6% to +3.6% | 38% | -1.9% to +1.8% | 0.0% |
| Day +4 | 26 | +0.8% | -3.5% to +4.2% | 50% | -2.5% to +2.9% | 0.0% |
| Day +5 | 26 | +1.1% | -5.4% to +3.9% | 54% | -4.7% to +2.9% | 0.0% |
| Day +6 | 26 | -0.7% | -6.3% to +3.5% | 50% | -5.1% to +1.8% | 0.0% |
| Day +7 | 26 | -1.7% | -4.2% to +3.3% | 46% | -3.9% to +2.4% | 0.0% |
| Day +8 | 26 | -0.8% | -2.9% to +5.2% | 42% | -2.3% to +1.6% | 0.0% |
| Day +9 | 26 | -0.4% | -2.8% to +5.9% | 50% | -2.0% to +2.3% | 0.0% |
| Day +10 | 26 | +0.0% | -3.6% to +9.3% | 50% | -1.0% to +8.0% | 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 | 2% |
| Gamma max crosses | 6 |
| Delta neutral crosses | 5 |
| Prior-year sessions closer to gamma max | 91.3% of 252 |
| Prior-year sessions closer to delta neutral | 4.8% of 252 |
| Open interest percentile (1y) | 82th |
| Daily open interest change versus prior year | -0.75σ (-5,661 contracts; 252 prior changes) |
| Open interest change, 5 sessions | -5.5% |
| Open interest change, 21 sessions | -28.9% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 27.57 vs 27.99 (-1.5%)
- closed below gamma max at 33.65 vs 36.06 (-7.2%)
- closed above gamma max at 35.38 vs 35.31 (+0.2%)
- closed above delta neutral at 35.45 vs 34.95 (+1.4%)
- closed below delta neutral at 35.16 vs 35.25 (-0.3%)
- closed below gamma max at 43.94 vs 44.38 (-1.0%)
- closed above gamma max at 44.00 vs 41.86 (+4.9%)
- closed below gamma max at 40.97 vs 41.65 (-1.7%)
- closed above gamma max at 41.70 vs 41.38 (+0.8%)
- closed above delta neutral at 33.51 vs 32.29 (+3.6%)
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/GDS
Questions people ask about GDS
Where is GDS's gamma max today?
As of Oct 2, 2026, the gamma max for GDS is 35.42, +28.5% from the 27.57 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 GDS above or below its delta neutral price?
GDS closed below delta neutral: 27.57 against a delta neutral price of 27.99. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does GDS have?
121,671 contracts of open interest across 196 listed contracts on Oct 2, 2026, -4.4% 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.