KGC max pain, gamma exposure (GEX) & options open interest
As of close · rank #393 by open interest · 1,394 sessions of history since Dec 1, 2020
KGC's nearest-expiration max pain is 25.00 for 2026-10-09, its GEX flip is 23.67, net GEX is 605,542, its put/call open-interest ratio is 0.64. 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: IV rank 100 · smile convexity 17.4 pp
KGC closed 34.2% below its gamma max of 32.29. It is 0.1% below the delta neutral price of 24.09. Total open interest is 211,166, -0.8% versus the previous session. Its options catalyst-intensity score is 56.6 out of 100, led by IV rank 100, smile convexity 17.4 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 | -885 contracts · -0.7% |
| Put OI change, 1 session | -718 contracts · -0.9% |
| Call minus put OI growth, 1 session | +0.2 pp |
| Call OI change, 5 sessions | +5,492 contracts · +4.5% |
| Put OI change, 5 sessions | +9,243 contracts · +12.6% |
| Call minus put OI growth, 5 sessions | -8.2 pp |
| Daily call OI change surprise | -0.11σ (252 prior changes) |
| Daily put OI change surprise | -0.18σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.15σ (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 58 completed Day +10 paths · latest Aug 24, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 58 | +0.6% | -1.2% to +1.8% | 60% | -0.1% to +1.4% | 0.0% |
| Day +2 | 58 | +0.4% | -2.1% to +2.5% | 53% | -0.3% to +1.2% | 0.0% |
| Day +3 | 58 | +1.2% | -1.2% to +3.3% | 59% | -0.2% to +2.1% | 0.0% |
| Day +4 | 58 | +1.5% | -2.4% to +4.5% | 66% | +0.6% to +3.3% | +0.6% |
| Day +5 | 58 | +1.6% | -2.8% to +5.5% | 59% | -0.4% to +3.1% | 0.0% |
| Day +6 | 58 | +2.0% | -3.0% to +6.3% | 55% | -1.0% to +3.0% | 0.0% |
| Day +7 | 58 | +2.6% | -2.1% to +7.3% | 62% | +0.5% to +3.9% | +0.5% |
| Day +8 | 58 | +1.3% | -2.5% to +8.6% | 62% | +0.2% to +4.2% | +0.2% |
| Day +9 | 58 | +2.5% | -1.9% to +7.5% | 67% | +0.8% to +5.1% | +0.8% |
| Day +10 | 58 | +4.0% | -2.1% to +8.7% | 66% | +0.6% to +6.5% | +0.6% |
Crosses above gamma max 61 completed Day +10 paths · latest Aug 21, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 61 | +0.3% | -1.0% to +1.4% | 52% | -0.3% to +0.6% | 0.0% |
| Day +2 | 61 | 0.0% | -1.3% to +2.3% | 49% | -0.5% to +1.5% | 0.0% |
| Day +3 | 61 | +1.2% | -1.7% to +3.3% | 59% | -0.5% to +2.4% | 0.0% |
| Day +4 | 61 | +1.4% | -1.8% to +4.1% | 61% | -0.3% to +2.7% | 0.0% |
| Day +5 | 61 | +0.2% | -2.1% to +4.6% | 54% | -1.0% to +1.8% | 0.0% |
| Day +6 | 61 | +1.0% | -3.9% to +5.3% | 59% | -0.4% to +2.4% | 0.0% |
| Day +7 | 61 | +1.5% | -3.0% to +6.1% | 57% | -0.3% to +3.4% | 0.0% |
| Day +8 | 61 | +1.6% | -1.4% to +4.9% | 61% | -0.2% to +3.0% | 0.0% |
| Day +9 | 61 | +2.7% | -3.1% to +6.4% | 66% | +0.5% to +4.1% | +0.5% |
| Day +10 | 61 | +4.1% | -1.7% to +7.5% | 61% | -0.4% to +4.9% | 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 | 13% |
| Gamma max crosses | 22 |
| Delta neutral crosses | 17 |
| Prior-year sessions closer to gamma max | 99.6% of 252 |
| Prior-year sessions closer to delta neutral | 0.8% of 252 |
| Open interest percentile (1y) | 70th |
| Daily open interest change versus prior year | -0.14σ (-1,603 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +7.5% |
| Open interest change, 21 sessions | +13.2% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 24.11 vs 24.43 (-1.3%)
- closed above delta neutral at 25.05 vs 24.80 (+1.0%)
- closed below delta neutral at 24.42 vs 24.90 (-2.0%)
- closed below gamma max at 32.98 vs 33.11 (-0.4%)
- closed above gamma max at 32.75 vs 32.38 (+1.1%)
- closed above delta neutral at 23.43 vs 23.42 (+0.0%)
- closed below delta neutral at 23.10 vs 23.24 (-0.6%)
- closed above delta neutral at 23.41 vs 23.09 (+1.4%)
- closed below delta neutral at 22.92 vs 23.48 (-2.5%)
- closed above delta neutral at 23.91 vs 23.87 (+0.2%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/KGC
Questions people ask about KGC
Where is KGC's gamma max today?
As of Oct 2, 2026, the gamma max for KGC is 32.29, +34.2% from the 24.06 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 KGC above or below its delta neutral price?
KGC closed below delta neutral: 24.06 against a delta neutral price of 24.09. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does KGC have?
211,166 contracts of open interest across 472 listed contracts on Oct 2, 2026, -0.8% 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.