GME max pain, gamma exposure (GEX) & options open interest
As of close · rank #61 by open interest · 1,393 sessions of history since Dec 1, 2020
GME's nearest-expiration max pain is 22.00 for 2026-10-09, its GEX flip is 7.14, net GEX is 126,211,157, its put/call open-interest ratio is 0.27. 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 6.0 pp · volume/OI 0.17 · 25Δ risk reversal -12.7 pp
GME closed 0.8% below its gamma max of 24.89. It is 26.1% above the delta neutral price of 18.24. Total open interest is 1,734,561, -8.0% versus the previous session. Its options catalyst-intensity score is 68.2 out of 100, led by front IV premium 6.0 pp, volume/OI 0.17, 25Δ risk reversal -12.7 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 | -129,778 contracts · -8.7% |
| Put OI change, 1 session | -21,777 contracts · -5.6% |
| Call minus put OI growth, 1 session | -3.1 pp |
| Call OI change, 5 sessions | +39,500 contracts · +3.0% |
| Put OI change, 5 sessions | +31,813 contracts · +9.5% |
| Call minus put OI growth, 5 sessions | -6.5 pp |
| Daily call OI change surprise | -1.29σ (250 prior changes) |
| Daily put OI change surprise | -0.30σ (250 prior changes) |
| Daily call-minus-put growth surprise | -0.23σ (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 27 completed Day +10 paths · latest Oct 1, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 29 | +0.8% | -1.4% to +2.4% | 59% | -0.6% to +1.9% | 0.0% |
| Day +2 | 28 | +2.2% | +0.6% to +4.2% | 79% | +1.0% to +3.7% | +1.0% |
| Day +3 | 28 | +4.2% | +0.7% to +7.0% | 82% | +2.8% to +5.4% | +2.8% |
| Day +4 | 28 | +3.4% | +0.2% to +9.6% | 75% | +0.9% to +7.7% | +0.9% |
| Day +5 | 28 | +4.1% | -0.6% to +7.1% | 71% | +1.2% to +5.7% | +1.2% |
| Day +6 | 27 | +4.4% | -1.6% to +12.0% | 70% | +1.4% to +11.6% | +1.4% |
| Day +7 | 27 | +5.1% | -4.0% to +13.2% | 63% | -2.9% to +12.1% | 0.0% |
| Day +8 | 27 | +4.2% | -3.0% to +15.3% | 56% | -2.8% to +9.8% | 0.0% |
| Day +9 | 27 | +5.0% | -3.1% to +13.7% | 63% | -1.0% to +7.4% | 0.0% |
| Day +10 | 27 | +2.6% | -3.3% to +10.7% | 59% | -3.1% to +8.7% | 0.0% |
Crosses above gamma max 28 completed Day +10 paths · latest Sep 30, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 29 | -0.2% | -2.4% to +2.2% | 45% | -2.2% to +1.2% | 0.0% |
| Day +2 | 29 | +0.7% | -2.3% to +3.8% | 55% | -1.8% to +2.6% | 0.0% |
| Day +3 | 28 | +1.3% | -2.9% to +4.8% | 61% | -1.1% to +4.2% | 0.0% |
| Day +4 | 28 | +0.7% | -3.6% to +6.4% | 50% | -2.2% to +4.6% | 0.0% |
| Day +5 | 28 | +2.8% | -4.2% to +9.9% | 57% | -1.8% to +8.3% | 0.0% |
| Day +6 | 28 | +2.4% | -1.3% to +10.4% | 64% | -0.5% to +5.5% | 0.0% |
| Day +7 | 28 | +2.9% | -2.7% to +11.5% | 71% | +1.2% to +9.0% | +1.2% |
| Day +8 | 28 | +2.7% | -3.1% to +14.3% | 57% | -1.8% to +6.2% | 0.0% |
| Day +9 | 28 | +3.8% | -5.0% to +12.6% | 61% | -3.0% to +9.5% | 0.0% |
| Day +10 | 28 | +4.3% | -4.6% to +18.0% | 57% | -1.9% to +9.7% | 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 | 8% |
| Gamma max crosses | 24 |
| Delta neutral crosses | 0 |
| Prior-year sessions closer to gamma max | 7.9% of 252 |
| Prior-year sessions closer to delta neutral | 98.0% of 252 |
| Open interest percentile (1y) | 94th |
| Daily open interest change versus prior year | -0.94σ (-151,555 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +4.3% |
| Open interest change, 21 sessions | +4.8% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 24.11 vs 24.68 (-2.4%)
- closed above gamma max at 24.65 vs 24.54 (+0.4%)
- closed below gamma max at 23.39 vs 23.83 (-1.9%)
- closed above gamma max at 22.77 vs 22.32 (+2.0%)
- closed below gamma max at 21.15 vs 21.65 (-2.4%)
- closed above gamma max at 20.39 vs 20.13 (+1.3%)
- closed below gamma max at 19.16 vs 20.93 (-9.2%)
- closed above gamma max at 19.23 vs 19.15 (+0.4%)
- closed below gamma max at 23.84 vs 26.19 (-9.8%)
- closed above gamma max at 26.53 vs 26.37 (+0.6%)
In today's screens
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Canonical source: https://halfonadouble.com/stock/GME
Questions people ask about GME
Where is GME's gamma max today?
As of Oct 2, 2026, the gamma max for GME is 24.89, +0.8% from the 24.70 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 GME above or below its delta neutral price?
GME closed above delta neutral: 24.70 against a delta neutral price of 18.24. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does GME have?
1,734,561 contracts of open interest across 707 listed contracts on Oct 2, 2026, -8.0% 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.