# GDX: options-positioning snapshot

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

| Published field | Value |
| --- | --- |
| Close (USD/share) | 87.75 |
| Delta neutral (USD/share) | 91.58 |
| Gamma neutral (USD/share) | 95.83 |
| Gamma max (USD/share) | 112.29 |
| Open interest (contracts) | 2,212,631 |
| Nearest-expiration max pain (USD/share) | 90.00 (2026-10-09) |
| All-expiration max pain (USD/share) | 90.00 |
| Net gamma exposure | -67,351,547 |
| Confirmed GEX flip (USD/share) | 95.83 |
| Call wall (USD/share) | 100.00 |
| Put wall (USD/share) | 80.00 |
| Put/call open-interest ratio | 1.56 |
| Options catalyst-intensity score (0–100) | 49.7 |
| Options directional score (-100 to +100) | -37.6 |
| IV rank | 14.8 |
| Front ATM IV | +41.1% |
| Front-minus-back IV | -0.2 pp |
| Front expected move | +5.7% |
| Front ATM straddle / spot | +4.1% |
| Front 25-delta risk reversal | 6.5 pp |
| Call OI change, 1 session | -82,542 contracts · -8.7% |
| Put OI change, 1 session | -35,888 contracts · -2.6% |
| Call minus put OI growth, 1 session | -6.1 pp |
| Call OI change, 5 sessions | +33,800 contracts · +4.1% |
| Put OI change, 5 sessions | +48,365 contracts · +3.7% |
| Call minus put OI growth, 5 sessions | +0.3 pp |
| Daily call OI change surprise | -1.26σ (252 prior changes) |
| Daily put OI change surprise | -0.49σ (252 prior changes) |
| Daily call-minus-put growth surprise | -1.47σ (252 prior changes) |
| Daily open interest change (contracts) | -118,430 |
| Daily open interest change z-score (prior 252) | -0.90σ (252 prior changes) |
| Gamma max distance from close | +28.0% |
| Delta neutral distance from close | +4.4% |
| Prior-year sessions closer to gamma max | 93.7% of 252 |
| Prior-year sessions closer to delta neutral | 34.1% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 26 | -0.9% | -1.5% to +0.4% | 31% | -1.4% to 0.0% | 0.0% |
| above | Day +3 | 26 | -0.3% | -1.6% to +2.1% | 46% | -1.2% to +1.6% | 0.0% |
| above | Day +5 | 26 | -0.7% | -3.3% to +3.1% | 42% | -2.5% to +2.5% | 0.0% |
| above | Day +10 | 26 | +0.8% | -3.2% to +5.2% | 58% | -0.6% to +3.5% | 0.0% |
| below | Day +1 | 25 | -0.5% | -1.0% to +1.0% | 44% | -0.9% to +0.7% | 0.0% |
| below | Day +3 | 25 | -0.5% | -2.6% to +3.1% | 44% | -2.4% to +1.9% | 0.0% |
| below | Day +5 | 25 | -0.4% | -3.8% to +2.9% | 40% | -3.2% to +2.5% | 0.0% |
| below | Day +10 | 25 | +1.5% | -3.0% to +5.4% | 60% | -2.8% to +5.3% | 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/GDX.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/GDX.csv)
- [Complete advanced analysis](https://halfonadouble.com/api/v1/analysis/GDX.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).