IQ max pain, gamma exposure (GEX) & options open interest
As of close · rank #428 by open interest · 1,394 sessions of history since Dec 1, 2020
IQ's nearest-expiration max pain is 0.50 for 2026-10-09, net GEX is 2,990,210, its put/call open-interest ratio is 0.55. 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 77.2 pp
IQ closed 1.5% below its gamma max of 1.01. It is 27.7% above the delta neutral price of 0.72. Total open interest is 185,332, -1.0% versus the previous session. Its options catalyst-intensity score is 39.4 out of 100, led by 25Δ risk reversal 77.2 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 | -1,378 contracts · -1.1% |
| Put OI change, 1 session | -486 contracts · -0.7% |
| Call minus put OI growth, 1 session | -0.4 pp |
| Call OI change, 5 sessions | -147 contracts · -0.1% |
| Put OI change, 5 sessions | -2,779 contracts · -4.1% |
| Call minus put OI growth, 5 sessions | +3.9 pp |
| Daily call OI change surprise | -0.02σ (252 prior changes) |
| Daily put OI change surprise | +0.00σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.01σ (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 13 completed Day +10 paths · latest Sep 30, 2025
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 13 | -0.4% | -1.1% to +1.5% | 38% | -1.1% to +1.5% | 0.0% |
| Day +2 | 13 | -2.6% | -3.2% to +7.7% | 46% | -3.2% to +7.7% | 0.0% |
| Day +3 | 13 | -1.6% | -3.5% to +4.2% | 38% | -3.5% to +4.2% | 0.0% |
| Day +4 | 13 | -1.9% | -4.9% to +8.4% | 46% | -4.9% to +8.4% | 0.0% |
| Day +5 | 13 | -1.4% | -3.9% to +5.0% | 46% | -3.9% to +5.0% | 0.0% |
| Day +6 | 13 | -1.9% | -4.7% to +8.2% | 38% | -4.7% to +8.2% | 0.0% |
| Day +7 | 13 | -3.1% | -6.3% to +7.6% | 46% | -6.3% to +7.6% | 0.0% |
| Day +8 | 13 | -7.1% | -10.5% to +10.3% | 38% | -10.5% to +10.3% | 0.0% |
| Day +9 | 13 | -7.0% | -10.6% to +1.4% | 31% | -10.6% to +1.4% | 0.0% |
| Day +10 | 13 | -8.2% | -13.7% to +2.9% | 31% | -13.7% to +2.9% | 0.0% |
Crosses above gamma max 15 completed Day +10 paths · latest Sep 29, 2025
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 15 | +0.4% | -2.3% to +1.0% | 60% | -2.3% to +1.1% | 0.0% |
| Day +2 | 15 | -2.6% | -4.6% to +3.8% | 47% | -5.0% to +5.3% | 0.0% |
| Day +3 | 15 | -4.0% | -6.3% to +6.8% | 40% | -7.7% to +7.8% | 0.0% |
| Day +4 | 15 | -5.5% | -7.0% to +2.7% | 40% | -7.2% to +3.2% | 0.0% |
| Day +5 | 15 | -4.5% | -8.0% to +6.2% | 33% | -8.5% to +9.9% | 0.0% |
| Day +6 | 15 | -2.5% | -7.1% to +6.7% | 40% | -8.2% to +8.1% | 0.0% |
| Day +7 | 15 | -1.9% | -12.9% to +3.8% | 27% | -17.1% to +7.9% | 0.0% |
| Day +8 | 15 | -4.5% | -13.3% to +2.6% | 33% | -16.3% to +4.5% | 0.0% |
| Day +9 | 15 | -7.2% | -14.2% to +2.1% | 33% | -14.5% to +3.9% | 0.0% |
| Day +10 | 15 | -12.6% | -16.9% to -1.8% | 20% | -17.1% to -0.5% | -0.5% |
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 | 1% |
| Gamma max crosses | 4 |
| Delta neutral crosses | 30 |
| Prior-year sessions closer to gamma max | 0.4% of 252 |
| Prior-year sessions closer to delta neutral | 99.6% of 252 |
| Open interest percentile (1y) | 15th |
| Daily open interest change versus prior year | -0.01σ (-1,864 contracts; 252 prior changes) |
| Open interest change, 5 sessions | -1.6% |
| Open interest change, 21 sessions | -24.4% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed above delta neutral at 0.99 vs 0.72 (+27.7%)
- closed below delta neutral at 1.00 vs 1.05 (-5.2%)
- closed above delta neutral at 0.99 vs 0.98 (+0.9%)
- closed below delta neutral at 1.03 vs 1.09 (-6.1%)
- closed above delta neutral at 1.02 vs 0.96 (+6.0%)
- closed below delta neutral at 1.01 vs 1.07 (-5.8%)
- closed above delta neutral at 1.03 vs 1.00 (+2.7%)
- closed below delta neutral at 1.01 vs 1.04 (-3.0%)
- closed above delta neutral at 1.01 vs 0.97 (+4.2%)
- closed below gamma max at 0.88 vs 1.85 (-109.7%)
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/IQ
Questions people ask about IQ
Where is IQ's gamma max today?
As of Oct 2, 2026, the gamma max for IQ is 1.01, +1.5% from the 0.99 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 IQ above or below its delta neutral price?
IQ closed above delta neutral: 0.99 against a delta neutral price of 0.72. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does IQ have?
185,332 contracts of open interest across 52 listed contracts on Oct 2, 2026, -1.0% 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.