IOT max pain, gamma exposure (GEX) & options open interest
As of close · rank #529 by open interest · 1,127 sessions of history since Dec 22, 2021
IOT's nearest-expiration max pain is 40.00 for 2026-10-09, its GEX flip is 33.18, net GEX is 9,367,939, its put/call open-interest ratio is 0.49. 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: 25Δ risk reversal -148.0 pp · smile convexity -17.6 pp · front IV premium 0.5 pp
IOT closed 9.8% below its gamma max of 45.14. It is 14.4% above the delta neutral price of 35.21. Total open interest is 134,270, -1.9% versus the previous session. Its options catalyst-intensity score is 65.0 out of 100, led by 25Δ risk reversal -148.0 pp, smile convexity -17.6 pp, front IV premium 0.5 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 | -1,615 contracts · -1.8% |
| Put OI change, 1 session | -920 contracts · -2.0% |
| Call minus put OI growth, 1 session | +0.3 pp |
| Call OI change, 5 sessions | +4,345 contracts · +5.1% |
| Put OI change, 5 sessions | +686 contracts · +1.6% |
| Call minus put OI growth, 5 sessions | +3.5 pp |
| Daily call OI change surprise | -0.21σ (252 prior changes) |
| Daily put OI change surprise | -0.23σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.02σ (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 25 completed Day +10 paths · latest Jul 14, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 25 | +0.2% | -2.1% to +1.9% | 56% | -1.5% to +1.9% | 0.0% |
| Day +2 | 25 | +0.4% | -3.1% to +3.9% | 56% | -2.4% to +3.8% | 0.0% |
| Day +3 | 25 | +1.8% | -3.9% to +3.8% | 64% | -3.6% to +3.1% | 0.0% |
| Day +4 | 25 | +2.2% | -3.1% to +3.6% | 60% | -2.8% to +3.4% | 0.0% |
| Day +5 | 25 | +2.5% | -6.1% to +5.9% | 60% | -3.7% to +5.3% | 0.0% |
| Day +6 | 25 | +3.4% | -8.2% to +7.4% | 60% | -7.5% to +7.3% | 0.0% |
| Day +7 | 25 | +3.0% | -7.4% to +7.6% | 56% | -6.1% to +7.3% | 0.0% |
| Day +8 | 25 | +6.6% | -4.3% to +10.1% | 60% | -3.9% to +9.6% | 0.0% |
| Day +9 | 25 | +7.3% | -4.0% to +11.7% | 60% | -3.3% to +11.6% | 0.0% |
| Day +10 | 25 | +1.6% | -5.1% to +14.8% | 60% | -5.0% to +10.5% | 0.0% |
Crosses above gamma max 26 completed Day +10 paths · latest Jul 13, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 26 | -0.9% | -1.8% to +0.0% | 27% | -1.6% to -0.2% | -0.2% |
| Day +2 | 26 | -0.2% | -2.4% to +0.3% | 35% | -1.5% to +0.2% | 0.0% |
| Day +3 | 26 | +0.1% | -3.9% to +2.0% | 50% | -1.7% to +1.7% | 0.0% |
| Day +4 | 26 | +1.3% | -4.6% to +3.6% | 58% | -2.1% to +2.3% | 0.0% |
| Day +5 | 26 | +1.4% | -7.0% to +4.3% | 62% | -2.6% to +2.7% | 0.0% |
| Day +6 | 26 | +0.0% | -5.5% to +4.6% | 50% | -2.7% to +4.2% | 0.0% |
| Day +7 | 26 | +1.3% | -6.9% to +7.8% | 50% | -6.6% to +6.8% | 0.0% |
| Day +8 | 26 | +2.5% | -11.1% to +7.9% | 54% | -7.4% to +6.5% | 0.0% |
| Day +9 | 26 | +5.6% | -9.9% to +9.1% | 62% | -6.8% to +7.7% | 0.0% |
| Day +10 | 26 | +1.6% | -5.9% to +8.8% | 58% | -4.8% to +7.8% | 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 | 3% |
| Gamma max crosses | 8 |
| Delta neutral crosses | 20 |
| Prior-year sessions closer to gamma max | 38.5% of 252 |
| Prior-year sessions closer to delta neutral | 79.0% of 252 |
| Open interest percentile (1y) | 56th |
| Daily open interest change versus prior year | -0.23σ (-2,535 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +3.9% |
| Open interest change, 21 sessions | -3.1% |
| History available | Dec 22, 2021 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 36.90 vs 36.96 (-0.2%)
- closed above gamma max at 36.83 vs 36.80 (+0.1%)
- closed below gamma max at 36.34 vs 36.57 (-0.6%)
- closed above gamma max at 38.55 vs 37.75 (+2.1%)
- closed above delta neutral at 28.02 vs 27.90 (+0.4%)
- closed below delta neutral at 28.21 vs 28.37 (-0.6%)
- closed above delta neutral at 30.51 vs 29.15 (+4.5%)
- closed below delta neutral at 28.74 vs 28.92 (-0.6%)
- closed above delta neutral at 29.63 vs 28.92 (+2.4%)
- closed below delta neutral at 29.30 vs 29.97 (-2.3%)
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/IOT
Questions people ask about IOT
Where is IOT's gamma max today?
As of Oct 2, 2026, the gamma max for IOT is 45.14, +9.8% from the 41.12 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 IOT above or below its delta neutral price?
IOT closed above delta neutral: 41.12 against a delta neutral price of 35.21. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does IOT have?
134,270 contracts of open interest across 430 listed contracts on Oct 2, 2026, -1.9% 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.