GOOGL max pain, gamma exposure (GEX) & options open interest
As of close · rank #25 by open interest · 1,394 sessions of history since Dec 1, 2020
GOOGL's nearest-expiration max pain is 340.00 for 2026-10-05, its GEX flip is 328.74, net GEX is 134,029,550, its put/call open-interest ratio is 0.65. 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: volume/OI 0.15 · smile convexity 13.6 pp
GOOGL closed 6.4% below its gamma max of 365.60. It is 4.8% above the delta neutral price of 326.92. Total open interest is 3,452,488, -3.1% versus the previous session. Its options catalyst-intensity score is 38.5 out of 100, led by volume/OI 0.15, smile convexity 13.6 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 | -78,156 contracts · -3.6% |
| Put OI change, 1 session | -31,129 contracts · -2.2% |
| Call minus put OI growth, 1 session | -1.4 pp |
| Call OI change, 5 sessions | +99,178 contracts · +5.0% |
| Put OI change, 5 sessions | +51,555 contracts · +3.9% |
| Call minus put OI growth, 5 sessions | +1.1 pp |
| Daily call OI change surprise | -0.89σ (252 prior changes) |
| Daily put OI change surprise | -0.45σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.87σ (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 21 completed Day +10 paths · latest May 7, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 21 | +0.4% | -0.6% to +1.2% | 62% | -0.6% to +1.1% | 0.0% |
| Day +2 | 21 | -0.2% | -1.4% to +1.5% | 48% | -1.3% to +0.7% | 0.0% |
| Day +3 | 21 | +0.2% | -1.6% to +1.4% | 52% | -1.5% to +1.3% | 0.0% |
| Day +4 | 21 | -0.4% | -1.6% to +1.2% | 48% | -1.3% to +0.6% | 0.0% |
| Day +5 | 21 | +0.8% | -1.8% to +1.5% | 57% | -1.8% to +1.5% | 0.0% |
| Day +6 | 21 | +0.6% | -1.6% to +2.0% | 52% | -0.9% to +1.4% | 0.0% |
| Day +7 | 21 | +0.5% | -0.1% to +2.2% | 71% | +0.2% to +1.9% | +0.2% |
| Day +8 | 21 | +2.1% | -1.3% to +3.1% | 71% | +0.8% to +2.9% | +0.8% |
| Day +9 | 21 | +1.6% | -1.1% to +4.0% | 67% | -0.9% to +3.5% | 0.0% |
| Day +10 | 21 | +1.8% | -0.1% to +5.7% | 71% | +0.1% to +4.8% | +0.1% |
Crosses above gamma max 21 completed Day +10 paths · latest May 6, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 21 | -0.2% | -1.1% to +0.2% | 38% | -0.4% to +0.2% | 0.0% |
| Day +2 | 21 | +0.7% | -0.7% to +1.5% | 62% | -0.4% to +1.3% | 0.0% |
| Day +3 | 21 | +0.2% | -1.9% to +1.2% | 52% | -1.3% to +1.0% | 0.0% |
| Day +4 | 21 | +0.5% | -2.5% to +2.3% | 52% | -2.0% to +1.5% | 0.0% |
| Day +5 | 21 | +0.4% | -2.8% to +1.3% | 57% | -2.8% to +1.2% | 0.0% |
| Day +6 | 21 | +0.8% | -3.2% to +1.6% | 57% | -2.2% to +1.5% | 0.0% |
| Day +7 | 21 | +0.3% | -2.0% to +1.8% | 52% | -1.8% to +1.0% | 0.0% |
| Day +8 | 21 | +0.1% | -1.4% to +2.5% | 52% | -0.7% to +1.9% | 0.0% |
| Day +9 | 21 | +1.0% | -1.2% to +3.8% | 62% | -0.8% to +2.9% | 0.0% |
| Day +10 | 21 | +1.5% | -2.1% to +4.2% | 57% | -1.9% to +3.9% | 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 | 4 |
| Prior-year sessions closer to gamma max | 50.8% of 252 |
| Prior-year sessions closer to delta neutral | 24.6% of 252 |
| Open interest percentile (1y) | 82th |
| Daily open interest change versus prior year | -0.71σ (-109,285 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +4.6% |
| Open interest change, 21 sessions | +3.8% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed above delta neutral at 319.74 vs 318.22 (+0.5%)
- closed below delta neutral at 317.69 vs 324.25 (-2.1%)
- closed below gamma max at 397.99 vs 402.66 (-1.2%)
- closed above gamma max at 398.04 vs 396.66 (+0.3%)
- closed below gamma max at 383.25 vs 390.40 (-1.9%)
- closed above gamma max at 384.80 vs 370.87 (+3.6%)
- closed above delta neutral at 287.56 vs 280.51 (+2.5%)
- closed below delta neutral at 280.96 vs 284.68 (-1.3%)
- closed below gamma max at 319.95 vs 327.68 (-2.4%)
- closed above gamma max at 318.58 vs 313.30 (+1.7%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/GOOGL
Questions people ask about GOOGL
Where is GOOGL's gamma max today?
As of Oct 2, 2026, the gamma max for GOOGL is 365.60, +6.4% from the 343.50 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 GOOGL above or below its delta neutral price?
GOOGL closed above delta neutral: 343.50 against a delta neutral price of 326.92. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does GOOGL have?
3,452,488 contracts of open interest across 2,924 listed contracts on Oct 2, 2026, -3.1% 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.