# GPN: options-positioning snapshot

Canonical: https://halfonadouble.com/stock/GPN
Data through: 2026-11-13 close
Publisher: Half on a Double

| Published field | Value |
| --- | --- |
| Close (USD/share) | 91.90 |
| Delta neutral (USD/share) | 85.39 |
| Gamma neutral (USD/share) | 78.26 |
| Gamma max (USD/share) | 102.11 |
| Open interest (contracts) | 112,451 |
| Nearest-expiration max pain (USD/share) | 90.00 (2026-11-20) |
| All-expiration max pain (USD/share) | 90.00 |
| Net gamma exposure | 6,040,335 |
| Confirmed GEX flip (USD/share) | 78.26 |
| Call wall (USD/share) | 100.00 |
| Put wall (USD/share) | 90.00 |
| Put/call open-interest ratio | 0.59 |
| Net GEX sign history | positive for the last 104 sessions; negative on 34 of the past 252 |
| Max pain expiration record (past 252 sessions) | expiration close nearer the prior-session max pain on 0 of 12 expirations (0%); median distance 6.87% vs 1.43% for an unchanged prior close |
| Options catalyst-intensity score (0–100) | 53.5 |
| Options directional score (-100 to +100) | -5.7 |
| IV rank | 7.7 |
| Front-minus-back IV | 9.0 pp |
| Front 25-delta risk reversal | 5.3 pp |
| Call OI change, 1 session | +2,611 contracts · +3.8% |
| Put OI change, 1 session | +1,502 contracts · +3.7% |
| Call minus put OI growth, 1 session | +0.1 pp |
| Call OI change, 5 sessions | +6,982 contracts · +11.0% |
| Put OI change, 5 sessions | +3,423 contracts · +8.9% |
| Call minus put OI growth, 5 sessions | +2.0 pp |
| Daily call OI change surprise | +0.67σ (252 prior changes) |
| Daily put OI change surprise | +0.42σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.06σ (252 prior changes) |
| Daily open interest change (contracts) | 4,113 |
| Daily open interest change z-score (prior 252) | +0.59σ (252 prior changes) |
| Gamma max distance from close | +11.1% |
| Delta neutral distance from close | -7.1% |
| Prior-year sessions closer to gamma max | 30.6% of 252 |
| Prior-year sessions closer to delta neutral | 59.1% of 252 |

## Recent expirations vs max pain

| Expiration | Max pain (session before) | Prior close | Expiration close | Close vs max pain | Nearer |
| --- | ---: | ---: | ---: | ---: | --- |
| 2026-10-16 | 80.00 | 84.17 | 83.67 | +4.36% | Prior close |
| 2026-09-18 | 90.00 | 85.40 | 85.06 | -5.78% | Prior close |
| 2026-08-21 | 80.00 | 92.28 | 93.49 | +14.62% | Prior close |
| 2026-07-17 | 72.50 | 80.49 | 77.82 | +6.61% | Prior close |
| 2026-06-18 | 70.00 | 66.36 | 66.88 | -4.70% | Prior close |
| 2026-05-15 | 70.00 | 67.33 | 67.58 | -3.59% | Prior close |
| 2026-04-17 | 70.00 | 70.84 | 72.37 | +3.35% | Prior close |
| 2026-03-20 | 75.00 | 68.18 | 68.50 | -9.53% | Prior close |
| 2026-02-20 | 70.00 | 80.25 | 82.47 | +15.54% | Prior close |
| 2026-01-16 | 80.00 | 74.99 | 73.80 | -8.27% | Prior close |

Each expiration compares the last session before it, when it was the nearest expiration, with the expiration-session close; distances are percentages of that prior close. Underlying closes are not option settlement values. Descriptive history, not a forecast.

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 16 | -0.6% | -2.1% to -0.3% | 19% | -1.9% to -0.3% | -0.3% |
| above | Day +3 | 16 | -0.9% | -2.1% to +0.9% | 38% | -1.5% to +0.8% | 0.0% |
| above | Day +5 | 16 | -1.9% | -3.1% to +0.7% | 31% | -3.0% to +0.6% | 0.0% |
| above | Day +10 | 16 | -1.6% | -5.1% to +0.2% | 25% | -5.1% to -0.2% | -0.2% |
| below | Day +1 | 15 | -0.3% | -2.0% to +0.3% | 33% | -2.1% to +0.6% | 0.0% |
| below | Day +3 | 15 | -0.6% | -1.5% to +0.9% | 33% | -1.8% to +1.4% | 0.0% |
| below | Day +5 | 15 | -0.1% | -1.0% to +1.4% | 47% | -1.0% to +2.2% | 0.0% |
| below | Day +10 | 14 | +0.9% | -4.7% to +3.1% | 57% | -4.8% to +3.3% | 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/GPN.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/GPN.csv)
- [Public aggregate analysis](https://halfonadouble.com/api/v1/analysis/GPN.json?date=2026-11-13&public_schema=5)

An em dash means unavailable, not zero. Values use the same display rounding as the HTML page. This is a current snapshot; the 60-session close-versus-max-pain chart, full history and individual event paths are on the canonical page.

[Definitions and limitations](https://halfonadouble.com/methodology.md).