HLF max pain, gamma exposure (GEX) & options open interest
As of close · rank #524 by open interest · 1,394 sessions of history since Dec 1, 2020
HLF's nearest-expiration max pain is 2.00 for 2026-10-09, its GEX flip is 4.63, net GEX is 5,927,455, its put/call open-interest ratio is 0.48. 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: IV rank 100 · 7d expected move +10.3%
HLF closed 0.2% below its gamma max of 12.59. It is 31.8% above the delta neutral price of 8.56. That is a fresh cross: the previous close was on the other side of gamma max. Total open interest is 135,399, -1.8% versus the previous session. Its options catalyst-intensity score is 40.6 out of 100, led by IV rank 100, 7d expected move +10.3%. 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 | -2,029 contracts · -2.2% |
| Put OI change, 1 session | -507 contracts · -1.1% |
| Call minus put OI growth, 1 session | -1.0 pp |
| Call OI change, 5 sessions | +307 contracts · +0.3% |
| Put OI change, 5 sessions | -177 contracts · -0.4% |
| Call minus put OI growth, 5 sessions | +0.7 pp |
| Daily call OI change surprise | -0.42σ (252 prior changes) |
| Daily put OI change surprise | -0.08σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.36σ (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 33 completed Day +10 paths · latest Oct 2, 2026 fresh cross
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 33 | +0.4% | -1.0% to +2.5% | 64% | -0.0% to +1.6% | 0.0% |
| Day +2 | 33 | +0.2% | -2.0% to +1.9% | 55% | -0.7% to +1.7% | 0.0% |
| Day +3 | 33 | +0.8% | -1.6% to +3.5% | 67% | +0.0% to +2.5% | +0.0% |
| Day +4 | 33 | +0.9% | -2.2% to +4.4% | 55% | -0.8% to +3.4% | 0.0% |
| Day +5 | 33 | +0.7% | -3.0% to +4.4% | 52% | -1.9% to +2.6% | 0.0% |
| Day +6 | 33 | -0.8% | -4.9% to +5.6% | 42% | -3.7% to +3.7% | 0.0% |
| Day +7 | 33 | +1.1% | -6.6% to +6.4% | 52% | -3.8% to +5.8% | 0.0% |
| Day +8 | 33 | +0.5% | -5.6% to +6.5% | 52% | -2.6% to +4.3% | 0.0% |
| Day +9 | 33 | +0.4% | -5.5% to +7.5% | 58% | -3.1% to +4.5% | 0.0% |
| Day +10 | 33 | +0.4% | -8.4% to +8.0% | 58% | -3.2% to +4.5% | 0.0% |
Crosses above gamma max 30 completed Day +10 paths · latest Sep 25, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 31 | -0.4% | -1.4% to +0.2% | 29% | -0.7% to 0.0% | 0.0% |
| Day +2 | 31 | -0.2% | -1.5% to +2.3% | 48% | -0.9% to +1.8% | 0.0% |
| Day +3 | 31 | -0.3% | -2.3% to +2.5% | 48% | -2.0% to +1.7% | 0.0% |
| Day +4 | 31 | -0.5% | -2.3% to +2.5% | 45% | -2.2% to +1.5% | 0.0% |
| Day +5 | 31 | -1.1% | -5.3% to +3.8% | 45% | -2.5% to +2.5% | 0.0% |
| Day +6 | 30 | -0.9% | -5.9% to +5.2% | 47% | -3.1% to +3.5% | 0.0% |
| Day +7 | 30 | -0.6% | -4.0% to +5.1% | 43% | -2.0% to +3.6% | 0.0% |
| Day +8 | 30 | -1.1% | -4.1% to +5.8% | 43% | -2.9% to +5.2% | 0.0% |
| Day +9 | 30 | +0.5% | -3.7% to +5.5% | 50% | -3.1% to +4.0% | 0.0% |
| Day +10 | 30 | +1.3% | -4.1% to +5.0% | 57% | -3.1% to +4.0% | 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 | 50% |
| Gamma max crosses | 28 |
| Delta neutral crosses | 2 |
| Prior-year sessions closer to gamma max | 2.0% of 252 |
| Prior-year sessions closer to delta neutral | 15.9% of 252 |
| Open interest percentile (1y) | 16th |
| Daily open interest change versus prior year | -0.31σ (-2,536 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +0.1% |
| Open interest change, 21 sessions | +0.4% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 12.56 vs 12.59 (-0.2%)
- closed above gamma max at 12.55 vs 12.49 (+0.5%)
- closed below gamma max at 11.83 vs 12.14 (-2.6%)
- closed above gamma max at 11.93 vs 11.66 (+2.3%)
- closed below gamma max at 12.02 vs 12.07 (-0.4%)
- closed above gamma max at 12.16 vs 11.84 (+2.6%)
- closed below gamma max at 10.99 vs 12.04 (-9.5%)
- closed above gamma max at 12.65 vs 12.63 (+0.1%)
- closed below gamma max at 12.90 vs 14.43 (-11.8%)
- closed above gamma max at 12.57 vs 2.50 (+80.1%)
In today's screens
Neighbours by open interest
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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/HLF
Questions people ask about HLF
Where is HLF's gamma max today?
As of Oct 2, 2026, the gamma max for HLF is 12.59, +0.2% from the 12.56 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 HLF above or below its delta neutral price?
HLF closed above delta neutral: 12.56 against a delta neutral price of 8.56. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does HLF have?
135,399 contracts of open interest across 117 listed contracts on Oct 2, 2026, -1.8% 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.