IHI max pain, gamma exposure (GEX) & options open interest
As of close · rank #370 by open interest · 1,394 sessions of history since Dec 1, 2020
IHI's nearest-expiration max pain is 52.00 for 2026-10-16, its GEX flip is 63.06, net GEX is -59,288,172, its put/call open-interest ratio is 4.17. 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 2.4 pp · smile convexity 14.5 pp
IHI closed 40.8% below its gamma max of 71.02. It is 8.5% below the delta neutral price of 54.74. Total open interest is 229,410, -0.4% versus the previous session. Its options catalyst-intensity score is 46.5 out of 100, led by front IV premium 2.4 pp, smile convexity 14.5 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 | +15 contracts · +0.0% |
| Put OI change, 1 session | -944 contracts · -0.5% |
| Call minus put OI growth, 1 session | +0.5 pp |
| Call OI change, 5 sessions | +878 contracts · +2.0% |
| Put OI change, 5 sessions | -750 contracts · -0.4% |
| Call minus put OI growth, 5 sessions | +2.4 pp |
| Daily call OI change surprise | -0.07σ (252 prior changes) |
| Daily put OI change surprise | -0.29σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.06σ (237 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 20 completed Day +10 paths · latest Apr 16, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 20 | +0.1% | -0.4% to +0.5% | 60% | -0.4% to +0.5% | 0.0% |
| Day +2 | 20 | +0.2% | -0.8% to +1.4% | 55% | -0.8% to +1.4% | 0.0% |
| Day +3 | 20 | +0.2% | -0.9% to +1.6% | 55% | -0.8% to +1.5% | 0.0% |
| Day +4 | 20 | +0.5% | -0.7% to +1.7% | 60% | -0.5% to +1.7% | 0.0% |
| Day +5 | 20 | +0.4% | -0.8% to +2.3% | 55% | -0.8% to +2.2% | 0.0% |
| Day +6 | 20 | +0.6% | -0.9% to +2.6% | 60% | -0.8% to +2.6% | 0.0% |
| Day +7 | 20 | +0.4% | -1.6% to +1.9% | 55% | -1.0% to +1.7% | 0.0% |
| Day +8 | 20 | +0.4% | -2.4% to +2.6% | 55% | -2.3% to +2.4% | 0.0% |
| Day +9 | 20 | +0.6% | -3.1% to +2.6% | 65% | -3.1% to +2.4% | 0.0% |
| Day +10 | 20 | +0.3% | -3.5% to +2.4% | 55% | -3.4% to +2.2% | 0.0% |
Crosses above gamma max 21 completed Day +10 paths · latest Apr 14, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 21 | +0.5% | -0.2% to +1.0% | 71% | +0.0% to +1.0% | +0.0% |
| Day +2 | 21 | +0.5% | -0.2% to +1.3% | 67% | -0.2% to +1.1% | 0.0% |
| Day +3 | 21 | +0.6% | -0.2% to +1.5% | 67% | -0.2% to +1.3% | 0.0% |
| Day +4 | 21 | +0.3% | -0.9% to +1.9% | 57% | -0.4% to +1.2% | 0.0% |
| Day +5 | 21 | +0.4% | -1.2% to +1.7% | 52% | -0.9% to +1.1% | 0.0% |
| Day +6 | 21 | +0.2% | -1.0% to +1.5% | 57% | -0.7% to +1.5% | 0.0% |
| Day +7 | 21 | +0.1% | -1.8% to +2.3% | 52% | -0.8% to +2.1% | 0.0% |
| Day +8 | 21 | +0.2% | -1.2% to +2.2% | 52% | -0.9% to +1.2% | 0.0% |
| Day +9 | 21 | +0.2% | -1.5% to +1.6% | 57% | -1.0% to +1.3% | 0.0% |
| Day +10 | 21 | +1.0% | -2.5% to +2.8% | 62% | -2.2% to +2.2% | 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 | 16 |
| Delta neutral crosses | 11 |
| Prior-year sessions closer to gamma max | 98.0% of 252 |
| Prior-year sessions closer to delta neutral | 88.5% of 252 |
| Open interest percentile (1y) | 97th |
| Daily open interest change versus prior year | -0.29σ (-929 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +0.1% |
| Open interest change, 21 sessions | +5.2% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 55.45 vs 55.69 (-0.4%)
- closed above delta neutral at 55.44 vs 55.17 (+0.5%)
- closed below delta neutral at 55.08 vs 55.27 (-0.3%)
- closed above delta neutral at 54.21 vs 53.32 (+1.7%)
- closed below delta neutral at 49.91 vs 50.13 (-0.4%)
- closed above delta neutral at 48.70 vs 47.46 (+2.6%)
- closed below delta neutral at 54.22 vs 54.65 (-0.8%)
- closed below gamma max at 53.23 vs 53.96 (-1.4%)
- closed above delta neutral at 54.35 vs 53.09 (+2.3%)
- closed above gamma max at 54.35 vs 53.96 (+0.7%)
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/IHI
Questions people ask about IHI
Where is IHI's gamma max today?
As of Oct 2, 2026, the gamma max for IHI is 71.02, +40.8% from the 50.45 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 IHI above or below its delta neutral price?
IHI closed below delta neutral: 50.45 against a delta neutral price of 54.74. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does IHI have?
229,410 contracts of open interest across 191 listed contracts on Oct 2, 2026, -0.4% 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.