IBKR max pain, gamma exposure (GEX) & options open interest
As of close · rank #532 by open interest · 1,394 sessions of history since Dec 1, 2020
IBKR's nearest-expiration max pain is 93.00 for 2026-10-09, its GEX flip is 85.91, net GEX is 1,092,667, its put/call open-interest ratio is 0.71. 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: smile convexity 18.5 pp
IBKR closed 14.7% below its gamma max of 101.29. It is 2.5% above the delta neutral price of 86.05. Total open interest is 132,682, -3.2% versus the previous session. Its options catalyst-intensity score is 47.3 out of 100, led by smile convexity 18.5 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 | -483 contracts · -0.6% |
| Put OI change, 1 session | -3,875 contracts · -6.6% |
| Call minus put OI growth, 1 session | +6.0 pp |
| Call OI change, 5 sessions | +2,816 contracts · +3.8% |
| Put OI change, 5 sessions | +1,580 contracts · +3.0% |
| Call minus put OI growth, 5 sessions | +0.8 pp |
| Daily call OI change surprise | -0.06σ (252 prior changes) |
| Daily put OI change surprise | -0.75σ (252 prior changes) |
| Daily call-minus-put growth surprise | +1.91σ (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 30 completed Day +10 paths · latest Jun 18, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 30 | +0.4% | -0.4% to +1.3% | 57% | -0.3% to +0.8% | 0.0% |
| Day +2 | 30 | +0.7% | -1.4% to +2.3% | 57% | -0.7% to +1.7% | 0.0% |
| Day +3 | 30 | +0.3% | -0.7% to +3.9% | 60% | -0.2% to +2.4% | 0.0% |
| Day +4 | 30 | +1.7% | -1.2% to +3.8% | 67% | +0.2% to +3.2% | +0.2% |
| Day +5 | 30 | +1.3% | -2.0% to +5.0% | 60% | -0.7% to +3.3% | 0.0% |
| Day +6 | 30 | +1.6% | -2.5% to +4.9% | 57% | -0.9% to +4.0% | 0.0% |
| Day +7 | 30 | +0.6% | -1.6% to +6.0% | 57% | -0.9% to +2.8% | 0.0% |
| Day +8 | 30 | +1.4% | -2.2% to +5.3% | 60% | -0.8% to +2.5% | 0.0% |
| Day +9 | 30 | +1.6% | -1.9% to +5.2% | 63% | -0.7% to +3.5% | 0.0% |
| Day +10 | 30 | +1.4% | -0.4% to +7.3% | 63% | -0.1% to +5.4% | 0.0% |
Crosses above gamma max 31 completed Day +10 paths · latest Jun 15, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 31 | -0.0% | -0.8% to +0.4% | 45% | -0.6% to +0.1% | 0.0% |
| Day +2 | 31 | -0.4% | -2.0% to +2.3% | 42% | -1.4% to +1.3% | 0.0% |
| Day +3 | 31 | +0.2% | -1.8% to +2.4% | 52% | -1.1% to +1.1% | 0.0% |
| Day +4 | 31 | +0.4% | -0.5% to +3.6% | 58% | -0.2% to +1.6% | 0.0% |
| Day +5 | 31 | +1.2% | -1.5% to +3.2% | 55% | -0.7% to +2.1% | 0.0% |
| Day +6 | 31 | +0.7% | -2.1% to +3.6% | 55% | -0.8% to +3.4% | 0.0% |
| Day +7 | 31 | +1.1% | -2.6% to +4.5% | 58% | -1.2% to +3.7% | 0.0% |
| Day +8 | 31 | +0.9% | -2.6% to +5.9% | 55% | -2.2% to +4.2% | 0.0% |
| Day +9 | 31 | +1.3% | -2.2% to +6.2% | 55% | -1.1% to +3.0% | 0.0% |
| Day +10 | 31 | +1.8% | -2.8% to +6.0% | 58% | -1.5% to +3.3% | 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 | 9% |
| Gamma max crosses | 17 |
| Delta neutral crosses | 4 |
| Prior-year sessions closer to gamma max | 90.5% of 252 |
| Prior-year sessions closer to delta neutral | 6.7% of 252 |
| Open interest percentile (1y) | 30th |
| Daily open interest change versus prior year | -0.42σ (-4,358 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +3.4% |
| Open interest change, 21 sessions | -8.3% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed above delta neutral at 85.81 vs 85.54 (+0.3%)
- closed below delta neutral at 85.42 vs 85.62 (-0.2%)
- closed below gamma max at 96.04 vs 99.58 (-3.7%)
- closed above gamma max at 92.76 vs 90.94 (+2.0%)
- closed below gamma max at 88.71 vs 88.75 (-0.1%)
- closed above gamma max at 88.69 vs 87.61 (+1.2%)
- closed below gamma max at 82.89 vs 85.58 (-3.2%)
- closed above gamma max at 87.00 vs 81.56 (+6.3%)
- closed below gamma max at 88.28 vs 88.54 (-0.3%)
- closed above gamma max at 85.12 vs 84.23 (+1.0%)
In today's screens
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Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/IBKR
Questions people ask about IBKR
Where is IBKR's gamma max today?
As of Oct 2, 2026, the gamma max for IBKR is 101.29, +14.7% from the 88.30 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 IBKR above or below its delta neutral price?
IBKR closed above delta neutral: 88.30 against a delta neutral price of 86.05. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does IBKR have?
132,682 contracts of open interest across 486 listed contracts on Oct 2, 2026, -3.2% 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.