GTM max pain, gamma exposure (GEX) & options open interest
As of close · rank #564 by open interest · 350 sessions of history since May 14, 2025
GTM's nearest-expiration max pain is 1.00 for 2026-10-09, its GEX flip is 2.92, net GEX is 2,793,782, its put/call open-interest ratio is 0.43. 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: 25Δ risk reversal 218.2 pp
GTM closed 19.1% below its gamma max of 4.42. It is 16.1% above the delta neutral price of 3.11. Total open interest is 125,044, -31.6% versus the previous session. Its options catalyst-intensity score is 37.9 out of 100, led by 25Δ risk reversal 218.2 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 | -349 contracts · -0.4% |
| Put OI change, 1 session | -57,333 contracts · -60.5% |
| Call minus put OI growth, 1 session | +60.1 pp |
| Call OI change, 5 sessions | -181 contracts · -0.2% |
| Put OI change, 5 sessions | -57,830 contracts · -60.7% |
| Call minus put OI growth, 5 sessions | +60.5 pp |
| Daily call OI change surprise | -0.10σ (252 prior changes) |
| Daily put OI change surprise | -12.03σ (252 prior changes) |
| Daily call-minus-put growth surprise | +4.09σ (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 8 completed Day +10 paths · latest Aug 17, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 8 | +0.9% | -2.5% to +2.6% | 63% | -3.3% to +5.5% | 0.0% |
| Day +2 | 8 | +1.7% | -1.2% to +3.8% | 63% | -4.6% to +4.9% | 0.0% |
| Day +3 | 8 | +1.7% | -2.8% to +5.5% | 63% | -3.3% to +5.5% | 0.0% |
| Day +4 | 8 | +2.7% | +1.1% to +6.0% | 75% | -1.0% to +7.2% | 0.0% |
| Day +5 | 8 | +4.4% | -0.5% to +6.3% | 63% | -1.0% to +8.6% | 0.0% |
| Day +6 | 8 | +4.6% | +0.5% to +7.2% | 88% | +0.3% to +7.2% | +0.3% |
| Day +7 | 8 | +3.1% | +0.7% to +6.3% | 75% | -0.3% to +9.9% | 0.0% |
| Day +8 | 8 | +6.2% | +0.8% to +8.7% | 75% | 0.0% to +9.3% | 0.0% |
| Day +9 | 8 | +3.2% | -0.3% to +5.8% | 63% | -1.4% to +11.7% | 0.0% |
| Day +10 | 8 | +2.6% | -0.4% to +7.3% | 50% | -1.6% to +12.8% | 0.0% |
Crosses above gamma max 8 completed Day +10 paths · latest Aug 13, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 8 | -1.2% | -1.9% to +1.1% | 38% | -2.0% to +1.4% | 0.0% |
| Day +2 | 8 | +0.7% | -0.3% to +3.1% | 50% | -1.4% to +4.8% | 0.0% |
| Day +3 | 8 | +0.4% | -2.2% to +5.9% | 50% | -2.3% to +15.6% | 0.0% |
| Day +4 | 8 | +1.5% | -0.7% to +6.4% | 50% | -1.5% to +11.5% | 0.0% |
| Day +5 | 8 | +1.6% | -2.6% to +5.7% | 63% | -4.1% to +6.5% | 0.0% |
| Day +6 | 8 | +3.2% | -3.4% to +6.9% | 63% | -7.9% to +14.3% | 0.0% |
| Day +7 | 8 | +1.1% | -6.3% to +6.9% | 63% | -9.5% to +8.1% | 0.0% |
| Day +8 | 8 | +2.2% | -7.5% to +2.8% | 63% | -10.4% to +3.2% | 0.0% |
| Day +9 | 8 | +0.2% | -6.9% to +4.5% | 50% | -11.8% to +4.9% | 0.0% |
| Day +10 | 8 | +1.4% | -2.9% to +4.6% | 50% | -5.3% to +5.3% | 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 | 12% |
| Gamma max crosses | 20 |
| Delta neutral crosses | 19 |
| Prior-year sessions closer to gamma max | 57.5% of 252 |
| Prior-year sessions closer to delta neutral | 69.8% of 252 |
| Open interest percentile (1y) | 87th |
| Daily open interest change versus prior year | -7.27σ (-57,682 contracts; 252 prior changes) |
| Open interest change, 5 sessions | -31.7% |
| Open interest change, 21 sessions | -25.6% |
| History available | May 14, 2025 → Oct 2, 2026 |
Recent crosses
- closed above delta neutral at 3.86 vs 3.38 (+12.4%)
- closed below delta neutral at 3.90 vs 3.97 (-1.8%)
- closed below gamma max at 3.76 vs 3.98 (-5.8%)
- closed above gamma max at 4.31 vs 3.93 (+8.8%)
- closed below gamma max at 3.86 vs 3.94 (-2.1%)
- closed above gamma max at 3.66 vs 3.58 (+2.2%)
- closed below gamma max at 3.62 vs 3.67 (-1.4%)
- closed above gamma max at 3.57 vs 3.50 (+1.9%)
- closed below gamma max at 3.02 vs 3.30 (-9.2%)
- closed above gamma max at 3.08 vs 2.96 (+4.0%)
In today's screens
Neighbours by open interest
Cite or embed this snapshot
Share the dated 1600×840 image or cite this canonical page. The card contains public derived aggregates, not contract-level quotes.
Canonical source: https://halfonadouble.com/stock/GTM
Questions people ask about GTM
Where is GTM's gamma max today?
As of Oct 2, 2026, the gamma max for GTM is 4.42, +19.1% from the 3.71 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 GTM above or below its delta neutral price?
GTM closed above delta neutral: 3.71 against a delta neutral price of 3.11. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does GTM have?
125,044 contracts of open interest across 85 listed contracts on Oct 2, 2026, -31.6% 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.