HUM max pain, gamma exposure (GEX) & options open interest
As of close · rank #506 by open interest · 1,394 sessions of history since Dec 1, 2020
HUM's nearest-expiration max pain is 387.50 for 2026-10-09, its GEX flip is 374.63, net GEX is 1,173,017, its put/call open-interest ratio is 1.03. 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: front IV premium 34.9 pp · IV rank 100 · 7d expected move +12.8%
HUM closed 15.2% below its gamma max of 447.32. It is 3.1% above the delta neutral price of 376.46. Total open interest is 141,907, -3.3% versus the previous session. Its options catalyst-intensity score is 71.7 out of 100, led by front IV premium 34.9 pp, IV rank 100, 7d expected move +12.8%. 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 | -2,121 contracts · -2.9% |
| Put OI change, 1 session | -2,666 contracts · -3.6% |
| Call minus put OI growth, 1 session | +0.6 pp |
| Call OI change, 5 sessions | +4,633 contracts · +7.1% |
| Put OI change, 5 sessions | +6,059 contracts · +9.2% |
| Call minus put OI growth, 5 sessions | -2.1 pp |
| Daily call OI change surprise | -0.42σ (252 prior changes) |
| Daily put OI change surprise | -0.84σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.17σ (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 above gamma max 15 completed Day +10 paths · latest May 8, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 15 | +0.3% | -0.1% to +1.0% | 67% | -0.2% to +1.4% | 0.0% |
| Day +2 | 15 | +0.5% | -0.7% to +1.7% | 67% | -0.8% to +2.1% | 0.0% |
| Day +3 | 15 | +0.2% | -0.1% to +2.2% | 73% | -0.3% to +2.3% | 0.0% |
| Day +4 | 15 | +1.4% | +0.2% to +2.9% | 80% | +0.1% to +3.0% | +0.1% |
| Day +5 | 15 | +1.2% | -0.1% to +3.6% | 73% | -0.8% to +4.7% | 0.0% |
| Day +6 | 15 | +0.8% | -1.0% to +4.8% | 67% | -1.5% to +6.2% | 0.0% |
| Day +7 | 15 | +2.1% | -0.4% to +4.6% | 67% | -0.6% to +5.6% | 0.0% |
| Day +8 | 15 | +2.0% | -1.2% to +4.8% | 67% | -2.1% to +6.2% | 0.0% |
| Day +9 | 15 | +2.2% | -2.8% to +4.3% | 67% | -2.9% to +5.4% | 0.0% |
| Day +10 | 15 | +2.3% | -3.9% to +5.0% | 60% | -4.2% to +5.9% | 0.0% |
Crosses below gamma max 13 completed Day +10 paths · latest Apr 22, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 13 | +0.1% | -0.6% to +1.1% | 54% | -0.6% to +1.1% | 0.0% |
| Day +2 | 13 | +0.6% | -0.8% to +1.7% | 69% | -0.8% to +1.7% | 0.0% |
| Day +3 | 13 | +1.6% | +0.2% to +2.1% | 77% | +0.2% to +2.1% | +0.2% |
| Day +4 | 13 | +0.5% | -0.8% to +2.2% | 69% | -0.8% to +2.2% | 0.0% |
| Day +5 | 13 | +1.6% | -1.4% to +3.1% | 54% | -1.4% to +3.1% | 0.0% |
| Day +6 | 13 | +2.1% | -2.4% to +3.1% | 69% | -2.4% to +3.1% | 0.0% |
| Day +7 | 13 | +1.0% | -1.8% to +3.4% | 62% | -1.8% to +3.4% | 0.0% |
| Day +8 | 13 | +0.7% | -1.9% to +3.8% | 54% | -1.9% to +3.8% | 0.0% |
| Day +9 | 13 | +0.9% | -2.2% to +4.0% | 54% | -2.2% to +4.0% | 0.0% |
| Day +10 | 13 | +1.3% | -4.6% to +5.0% | 62% | -4.6% to +5.0% | 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 | 2% |
| Gamma max crosses | 6 |
| Delta neutral crosses | 15 |
| Prior-year sessions closer to gamma max | 57.5% of 252 |
| Prior-year sessions closer to delta neutral | 19.4% of 252 |
| Open interest percentile (1y) | 93th |
| Daily open interest change versus prior year | -0.62σ (-4,787 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +8.1% |
| Open interest change, 21 sessions | +9.0% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 295.64 vs 342.25 (-15.8%)
- closed above gamma max at 274.96 vs 271.05 (+1.4%)
- closed below gamma max at 217.40 vs 222.63 (-2.4%)
- closed above gamma max at 217.36 vs 216.90 (+0.2%)
- closed below gamma max at 198.39 vs 202.52 (-2.1%)
- closed above delta neutral at 197.15 vs 187.53 (+4.9%)
- closed above gamma max at 197.15 vs 196.49 (+0.3%)
- closed below delta neutral at 207.93 vs 255.86 (-23.0%)
- closed above delta neutral at 264.48 vs 259.74 (+1.8%)
- closed below delta neutral at 256.13 vs 256.86 (-0.3%)
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/HUM
Questions people ask about HUM
Where is HUM's gamma max today?
As of Oct 2, 2026, the gamma max for HUM is 447.32, +15.2% from the 388.36 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 HUM above or below its delta neutral price?
HUM closed above delta neutral: 388.36 against a delta neutral price of 376.46. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does HUM have?
141,907 contracts of open interest across 1,067 listed contracts on Oct 2, 2026, -3.3% 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.