INDI max pain, gamma exposure (GEX) & options open interest
As of close · rank #588 by open interest · 1,205 sessions of history since Jun 14, 2021
INDI's nearest-expiration max pain is 3.50 for 2026-10-16, its GEX flip is 2.23, net GEX is 3,934,153, its put/call open-interest ratio is 0.15. 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: 14d expected move +17.4% · 25Δ risk reversal -168.4 pp · IV rank 100
INDI closed 10.0% below its gamma max of 3.27. It is 50.6% above the delta neutral price of 1.47. Total open interest is 116,780, -0.0% versus the previous session. Its options catalyst-intensity score is 54.9 out of 100, led by 14d expected move +17.4%, 25Δ risk reversal -168.4 pp, IV rank 100. 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 | +37 contracts · +0.0% |
| Put OI change, 1 session | -74 contracts · -0.5% |
| Call minus put OI growth, 1 session | +0.5 pp |
| Call OI change, 5 sessions | +1,194 contracts · +1.2% |
| Put OI change, 5 sessions | +96 contracts · +0.6% |
| Call minus put OI growth, 5 sessions | +0.6 pp |
| Daily call OI change surprise | -0.01σ (252 prior changes) |
| Daily put OI change surprise | +0.00σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.07σ (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 Sep 21, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 34 | -0.7% | -3.8% to +2.4% | 38% | -2.4% to +0.8% | 0.0% |
| Day +2 | 34 | -0.5% | -4.3% to +2.4% | 38% | -2.4% to +0.5% | 0.0% |
| Day +3 | 34 | -0.4% | -6.3% to +2.9% | 47% | -5.0% to +2.1% | 0.0% |
| Day +4 | 34 | -0.6% | -7.4% to +6.5% | 41% | -4.2% to +2.5% | 0.0% |
| Day +5 | 34 | -1.5% | -7.0% to +5.4% | 38% | -4.9% to +1.0% | 0.0% |
| Day +6 | 34 | -2.1% | -6.9% to +9.6% | 44% | -4.2% to +3.4% | 0.0% |
| Day +7 | 34 | -0.5% | -8.6% to +12.1% | 47% | -7.7% to +5.7% | 0.0% |
| Day +8 | 34 | -0.9% | -10.3% to +13.4% | 50% | -7.3% to +7.1% | 0.0% |
| Day +9 | 34 | -2.6% | -11.4% to +13.0% | 38% | -8.7% to +6.5% | 0.0% |
| Day +10 | 33 | 0.0% | -11.1% to +18.2% | 48% | -10.1% to +10.7% | 0.0% |
Crosses above gamma max 32 completed Day +10 paths · latest Aug 11, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 32 | +0.1% | -1.2% to +2.3% | 50% | -1.0% to +1.8% | 0.0% |
| Day +2 | 32 | -0.4% | -5.5% to +4.8% | 47% | -2.2% to +3.7% | 0.0% |
| Day +3 | 32 | +0.5% | -3.5% to +5.4% | 53% | -1.3% to +3.1% | 0.0% |
| Day +4 | 32 | -0.5% | -5.0% to +6.3% | 47% | -3.8% to +3.0% | 0.0% |
| Day +5 | 32 | +0.3% | -3.1% to +7.5% | 53% | -2.7% to +1.7% | 0.0% |
| Day +6 | 32 | +1.2% | -7.7% to +7.4% | 53% | -4.5% to +5.1% | 0.0% |
| Day +7 | 32 | -0.2% | -6.9% to +12.2% | 47% | -5.7% to +5.8% | 0.0% |
| Day +8 | 32 | -0.6% | -8.1% to +17.2% | 47% | -5.4% to +8.9% | 0.0% |
| Day +9 | 32 | +0.3% | -10.9% to +14.2% | 53% | -7.1% to +3.4% | 0.0% |
| Day +10 | 32 | -0.2% | -10.3% to +11.8% | 44% | -5.8% to +9.1% | 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 | 38% |
| Gamma max crosses | 46 |
| Delta neutral crosses | 0 |
| Prior-year sessions closer to gamma max | 57.1% of 252 |
| Prior-year sessions closer to delta neutral | 74.2% of 252 |
| Open interest percentile (1y) | 47th |
| Daily open interest change versus prior year | -0.00σ (-37 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +1.1% |
| Open interest change, 21 sessions | -8.9% |
| History available | Jun 14, 2021 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 3.21 vs 3.39 (-5.6%)
- closed above gamma max at 3.07 vs 3.07 (+0.0%)
- closed below gamma max at 3.90 vs 3.94 (-1.0%)
- closed above gamma max at 4.15 vs 3.72 (+10.4%)
- closed below gamma max at 4.01 vs 4.17 (-4.1%)
- closed above gamma max at 3.81 vs 3.77 (+1.0%)
- closed below gamma max at 3.47 vs 3.53 (-1.7%)
- closed above gamma max at 3.64 vs 3.62 (+0.7%)
- closed below gamma max at 3.79 vs 3.85 (-1.6%)
- closed above gamma max at 3.86 vs 3.84 (+0.5%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/INDI
Questions people ask about INDI
Where is INDI's gamma max today?
As of Oct 2, 2026, the gamma max for INDI is 3.27, +10.0% from the 2.97 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 INDI above or below its delta neutral price?
INDI closed above delta neutral: 2.97 against a delta neutral price of 1.47. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does INDI have?
116,780 contracts of open interest across 93 listed contracts on Oct 2, 2026, -0.0% 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.