GFS max pain, gamma exposure (GEX) & options open interest
As of close · rank #569 by open interest · 1,145 sessions of history since Nov 26, 2021
GFS's nearest-expiration max pain is 50.00 for 2026-10-16, its GEX flip is 47.88, net GEX is 1,829,798, its put/call open-interest ratio is 0.97. 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 0.10σ · 14d expected move +10.6%
GFS closed 12.1% below its gamma max of 56.26. It is 1.3% below the delta neutral price of 50.80. Total open interest is 123,126, +1.0% versus the previous session. Its options catalyst-intensity score is 47.4 out of 100, led by OI change 0.10σ, 14d expected move +10.6%. 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 | +258 contracts · +0.4% |
| Put OI change, 1 session | +935 contracts · +1.6% |
| Call minus put OI growth, 1 session | -1.1 pp |
| Call OI change, 5 sessions | +2,071 contracts · +3.4% |
| Put OI change, 5 sessions | +2,395 contracts · +4.1% |
| Call minus put OI growth, 5 sessions | -0.7 pp |
| Daily call OI change surprise | +0.02σ (252 prior changes) |
| Daily put OI change surprise | +0.28σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.08σ (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 15 completed Day +10 paths · latest May 6, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 15 | -1.9% | -2.9% to -0.3% | 27% | -2.9% to +0.0% | 0.0% |
| Day +2 | 15 | -2.0% | -3.9% to -0.3% | 20% | -3.9% to -0.2% | -0.2% |
| Day +3 | 15 | -2.0% | -7.5% to -0.3% | 27% | -7.9% to +0.2% | 0.0% |
| Day +4 | 15 | -4.1% | -7.5% to +0.0% | 27% | -8.7% to +0.2% | 0.0% |
| Day +5 | 15 | -5.2% | -8.5% to +2.5% | 33% | -9.2% to +2.8% | 0.0% |
| Day +6 | 15 | -6.8% | -8.6% to -3.0% | 20% | -8.8% to -2.3% | -2.3% |
| Day +7 | 15 | -6.0% | -7.5% to -2.5% | 7% | -7.8% to -2.1% | -2.1% |
| Day +8 | 15 | -6.6% | -9.2% to -5.3% | 7% | -9.8% to -4.9% | -4.9% |
| Day +9 | 15 | -7.8% | -8.6% to -6.2% | 20% | -8.6% to -5.7% | -5.7% |
| Day +10 | 15 | -6.5% | -9.5% to -1.5% | 20% | -9.6% to -0.9% | -0.9% |
Crosses above gamma max 13 completed Day +10 paths · latest Apr 16, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 13 | -0.0% | -1.6% to +2.3% | 46% | -1.6% to +2.3% | 0.0% |
| Day +2 | 13 | +1.6% | -2.6% to +5.2% | 62% | -2.6% to +5.2% | 0.0% |
| Day +3 | 13 | +1.1% | -2.8% to +4.3% | 69% | -2.8% to +4.3% | 0.0% |
| Day +4 | 13 | +1.4% | -3.2% to +5.2% | 54% | -3.2% to +5.2% | 0.0% |
| Day +5 | 13 | +0.2% | -4.6% to +4.1% | 54% | -4.6% to +4.1% | 0.0% |
| Day +6 | 13 | -0.3% | -4.5% to +3.5% | 46% | -4.5% to +3.5% | 0.0% |
| Day +7 | 13 | -2.6% | -7.3% to +4.8% | 46% | -7.3% to +4.8% | 0.0% |
| Day +8 | 13 | -2.6% | -6.4% to +7.2% | 38% | -6.4% to +7.2% | 0.0% |
| Day +9 | 13 | -1.9% | -9.1% to +7.9% | 38% | -9.1% to +7.9% | 0.0% |
| Day +10 | 13 | -3.3% | -7.2% to +7.3% | 31% | -7.2% to +7.3% | 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 | 10% |
| Gamma max crosses | 4 |
| Delta neutral crosses | 9 |
| Prior-year sessions closer to gamma max | 40.5% of 252 |
| Prior-year sessions closer to delta neutral | 3.2% of 252 |
| Open interest percentile (1y) | 87th |
| Daily open interest change versus prior year | +0.10σ (1,193 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +3.8% |
| Open interest change, 21 sessions | +17.8% |
| History available | Nov 26, 2021 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 69.84 vs 72.46 (-3.7%)
- closed below gamma max at 72.30 vs 73.03 (-1.0%)
- closed above gamma max at 50.39 vs 50.17 (+0.4%)
- closed below gamma max at 45.79 vs 47.66 (-4.1%)
- closed above gamma max at 40.87 vs 40.58 (+0.7%)
- closed above delta neutral at 35.84 vs 35.83 (+0.0%)
- closed below delta neutral at 34.42 vs 34.98 (-1.6%)
- closed above delta neutral at 35.63 vs 35.15 (+1.4%)
- closed below delta neutral at 34.42 vs 34.76 (-1.0%)
- closed above delta neutral at 36.06 vs 34.73 (+3.7%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/GFS
Questions people ask about GFS
Where is GFS's gamma max today?
As of Oct 2, 2026, the gamma max for GFS is 56.26, +12.1% from the 50.17 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 GFS above or below its delta neutral price?
GFS closed below delta neutral: 50.17 against a delta neutral price of 50.80. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does GFS have?
123,126 contracts of open interest across 215 listed contracts on Oct 2, 2026, +1.0% 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.