Data through close

HSBC max pain, gamma exposure (GEX) & options open interest

As of close · rank #753 by open interest · snapshot page

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HSBC's nearest-expiration max pain is 101.00 for 2026-10-09, its GEX flip is 101.22, net GEX is -2,028,840, its put/call open-interest ratio is 1.40. These are whole-chain derived aggregates as of Oct 2, 2026 close.

Close
96.14
prev 95.82
Gamma max
110.49
+14.9% from close
Delta neutral
98.91
+2.9% from close
Gamma neutral
101.22
+5.3% from close
Open interest
78,610
-4.3% vs prev
Contracts listed
321
177 calls · 178 puts

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.

Nearest max pain
101.00
+5.1% from close
2026-10-09
GEX flip
101.22
+5.3% from close
Net GEX
-2,028,840
-2,580,894 per 100k OI
Call wall
105.00
+9.2% from close
Put wall
100.00
+4.0% from close
Put/call OI
1.40
45,872 puts / 32,738 calls

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.

Catalyst intensity
–
cross-sectional score / 100
Directional score
–
IV rank
87.4
within trailing 52-week range
Front / back ATM IV
+30.0% / +28.8%
1.3 pp front premium
Expected move
+4.2%
7 DTE · one standard deviation
ATM straddle / spot
+5.2%
front-window midpoint premium
25Δ risk reversal
35.9 pp
put IV minus call IV
IV butterfly
0.9 pp
front-window smile convexity
Volume / open interest
0.03
2,628 contracts traded
Normalized net delta
-0.028
option-holder convention
Modeled dealer delta
0.027
opposite-side scenario
Vanna / 100k OI
2,521
volatility-sensitive delta
Charm / 100k OI
816,788
time-decay-sensitive delta
IV surface range
74.1 pp
published contour maximum minus minimum

Download the complete dated analysis JSON .

HSBC closed 14.9% below its gamma max of 110.49. It is 2.9% below the delta neutral price of 98.91. Total open interest is 78,610, -4.3% versus the previous session. What gamma max means · What delta neutral means

History

Full history since 2020: drag to pan, scroll to zoom, hover for values. Open full-screen chart

Analysis visualizations

Derived from the 2026-10-02 options chain. Select an analysis to explore its chart.

Gamma walls

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In today's screens

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Neighbours by open interest

← HYMC (#752) PLAY (#754) →

Questions people ask about HSBC

Where is HSBC's gamma max today?

As of Oct 2, 2026, the gamma max for HSBC is 110.49, +14.9% from the 96.14 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 HSBC above or below its delta neutral price?

HSBC closed below delta neutral: 96.14 against a delta neutral price of 98.91. The delta neutral price is where the summed delta of the whole chain is zero; the definition.

How much open interest does HSBC have?

78,610 contracts of open interest across 321 listed contracts on Oct 2, 2026, -4.3% 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.