KBE max pain, gamma exposure (GEX) & options open interest
As of close · rank #491 by open interest · 1,394 sessions of history since Dec 1, 2020
KBE's nearest-expiration max pain is 68.00 for 2026-10-16, net GEX is -13,507,360, its put/call open-interest ratio is 7.03. 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 2.5 pp
KBE closed 55.4% below its gamma max of 100.00. It is 9.5% below the delta neutral price of 70.50. Total open interest is 153,043, +0.1% versus the previous session. Its options catalyst-intensity score is 34.2 out of 100, led by front IV premium 2.5 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 | +87 contracts · +0.5% |
| Put OI change, 1 session | +17 contracts · +0.0% |
| Call minus put OI growth, 1 session | +0.4 pp |
| Call OI change, 5 sessions | +233 contracts · +1.2% |
| Put OI change, 5 sessions | +47 contracts · +0.0% |
| Call minus put OI growth, 5 sessions | +1.2 pp |
| Daily call OI change surprise | +0.05σ (252 prior changes) |
| Daily put OI change surprise | -0.04σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.03σ (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 17 completed Day +10 paths · latest Sep 19, 2025
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 17 | +0.6% | -0.4% to +1.0% | 65% | -0.4% to +1.0% | 0.0% |
| Day +2 | 17 | +0.3% | -0.4% to +0.7% | 59% | -0.4% to +0.7% | 0.0% |
| Day +3 | 17 | +0.7% | -1.0% to +1.9% | 53% | -1.0% to +1.9% | 0.0% |
| Day +4 | 17 | -0.5% | -1.1% to +1.9% | 47% | -1.1% to +1.9% | 0.0% |
| Day +5 | 17 | -0.2% | -1.1% to +1.8% | 47% | -1.1% to +1.8% | 0.0% |
| Day +6 | 17 | -0.1% | -1.0% to +2.4% | 47% | -1.0% to +2.4% | 0.0% |
| Day +7 | 17 | +0.1% | -0.7% to +2.2% | 53% | -0.7% to +2.2% | 0.0% |
| Day +8 | 17 | -0.7% | -1.1% to +1.4% | 41% | -1.1% to +1.4% | 0.0% |
| Day +9 | 17 | -0.2% | -1.7% to +0.7% | 47% | -1.7% to +0.7% | 0.0% |
| Day +10 | 17 | -0.2% | -1.8% to +0.6% | 41% | -1.8% to +0.6% | 0.0% |
Crosses above gamma max 18 completed Day +10 paths · latest Sep 18, 2025
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 18 | -0.0% | -0.5% to +0.9% | 44% | -0.1% to +0.7% | 0.0% |
| Day +2 | 18 | +0.4% | -0.7% to +1.4% | 61% | -0.6% to +0.8% | 0.0% |
| Day +3 | 18 | -0.1% | -0.7% to +1.6% | 50% | -0.6% to +1.0% | 0.0% |
| Day +4 | 18 | +0.4% | -0.4% to +2.0% | 67% | -0.1% to +1.6% | 0.0% |
| Day +5 | 18 | +0.5% | -1.1% to +2.8% | 56% | -1.1% to +1.7% | 0.0% |
| Day +6 | 18 | +0.1% | -1.2% to +3.1% | 50% | -1.1% to +2.9% | 0.0% |
| Day +7 | 18 | +0.3% | -1.5% to +3.1% | 56% | -1.2% to +3.0% | 0.0% |
| Day +8 | 18 | +0.9% | -1.4% to +2.3% | 61% | -1.0% to +1.9% | 0.0% |
| Day +9 | 18 | +0.4% | -0.8% to +3.0% | 50% | -0.7% to +1.4% | 0.0% |
| Day +10 | 18 | +0.4% | -0.7% to +1.8% | 56% | -0.7% to +1.1% | 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 | 0% |
| Gamma max crosses | 0 |
| Delta neutral crosses | 15 |
| Prior-year sessions closer to gamma max | 96.0% of 252 |
| Prior-year sessions closer to delta neutral | 52.0% of 252 |
| Open interest percentile (1y) | 50th |
| Daily open interest change versus prior year | -0.03σ (104 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +0.2% |
| Open interest change, 21 sessions | -1.1% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 62.59 vs 63.93 (-2.1%)
- closed above delta neutral at 62.41 vs 62.02 (+0.6%)
- closed below delta neutral at 62.66 vs 63.07 (-0.7%)
- closed above delta neutral at 62.48 vs 61.98 (+0.8%)
- closed below delta neutral at 59.16 vs 59.47 (-0.5%)
- closed above delta neutral at 59.32 vs 59.07 (+0.4%)
- closed below delta neutral at 57.68 vs 60.71 (-5.3%)
- closed above delta neutral at 56.74 vs 56.30 (+0.8%)
- closed below delta neutral at 56.48 vs 56.56 (-0.1%)
- closed above delta neutral at 57.04 vs 56.96 (+0.1%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/KBE
Questions people ask about KBE
Where is KBE's gamma max today?
As of Oct 2, 2026, the gamma max for KBE is 100.00, +55.4% from the 64.36 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 KBE above or below its delta neutral price?
KBE closed below delta neutral: 64.36 against a delta neutral price of 70.50. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does KBE have?
153,043 contracts of open interest across 197 listed contracts on Oct 2, 2026, +0.1% 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.