KLAC max pain, gamma exposure (GEX) & options open interest
As of close · rank #271 by open interest · 1,394 sessions of history since Dec 1, 2020
KLAC's nearest-expiration max pain is 180.00 for 2026-10-09, its GEX flip is 194.21, net GEX is 2,320,004, its put/call open-interest ratio is 1.30. 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
KLAC closed 0.9% below its gamma max of 208.79. It is 5.8% above the delta neutral price of 194.80. That is a fresh cross: the previous close was on the other side of gamma max. Total open interest is 355,543, -2.2% versus the previous session. Its options catalyst-intensity score is 47.1 out of 100, led by 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 | -4,861 contracts · -3.1% |
| Put OI change, 1 session | -2,993 contracts · -1.5% |
| Call minus put OI growth, 1 session | -1.6 pp |
| Call OI change, 5 sessions | +5,111 contracts · +3.4% |
| Put OI change, 5 sessions | +479 contracts · +0.2% |
| Call minus put OI growth, 5 sessions | +3.2 pp |
| Daily call OI change surprise | -0.38σ (252 prior changes) |
| Daily put OI change surprise | -0.18σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.60σ (251 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 15 completed Day +10 paths · latest Oct 2, 2026 fresh cross
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 15 | +0.6% | -0.3% to +2.2% | 67% | -0.7% to +2.2% | 0.0% |
| Day +2 | 15 | +0.2% | -1.6% to +2.1% | 67% | -2.0% to +2.2% | 0.0% |
| Day +3 | 15 | +0.6% | -2.1% to +2.8% | 53% | -3.5% to +3.4% | 0.0% |
| Day +4 | 15 | +0.1% | -1.2% to +1.8% | 53% | -1.4% to +2.0% | 0.0% |
| Day +5 | 15 | -0.2% | -3.3% to +4.2% | 47% | -3.7% to +4.7% | 0.0% |
| Day +6 | 15 | -1.3% | -3.4% to +4.1% | 40% | -3.9% to +4.8% | 0.0% |
| Day +7 | 15 | +1.5% | -3.7% to +3.5% | 60% | -3.8% to +4.6% | 0.0% |
| Day +8 | 15 | -0.0% | -3.3% to +2.8% | 47% | -3.5% to +3.2% | 0.0% |
| Day +9 | 15 | +1.5% | -2.5% to +3.0% | 60% | -3.1% to +3.2% | 0.0% |
| Day +10 | 15 | +0.3% | -3.7% to +2.7% | 53% | -5.9% to +3.0% | 0.0% |
Crosses above gamma max 17 completed Day +10 paths · latest Oct 1, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 18 | +0.2% | -0.9% to +1.3% | 50% | -0.5% to +0.9% | 0.0% |
| Day +2 | 17 | +0.0% | -1.2% to +2.3% | 53% | -1.2% to +2.3% | 0.0% |
| Day +3 | 17 | -0.9% | -2.1% to +2.3% | 47% | -2.1% to +2.3% | 0.0% |
| Day +4 | 17 | -0.3% | -2.3% to +2.4% | 41% | -2.3% to +2.4% | 0.0% |
| Day +5 | 17 | -0.2% | -1.9% to +1.3% | 41% | -1.9% to +1.3% | 0.0% |
| Day +6 | 17 | -0.0% | -3.2% to +4.3% | 47% | -3.2% to +4.3% | 0.0% |
| Day +7 | 17 | +0.6% | -1.8% to +5.0% | 59% | -1.8% to +5.0% | 0.0% |
| Day +8 | 17 | +2.7% | -1.8% to +4.9% | 71% | -1.8% to +4.9% | 0.0% |
| Day +9 | 17 | +2.5% | -3.8% to +5.6% | 65% | -3.8% to +5.6% | 0.0% |
| Day +10 | 17 | +1.5% | -4.9% to +5.8% | 59% | -4.9% to +5.8% | 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 | 1% |
| Gamma max crosses | 4 |
| Delta neutral crosses | 20 |
| Prior-year sessions closer to gamma max | 0.0% of 251 |
| Prior-year sessions closer to delta neutral | 43.4% of 251 |
| Open interest percentile (1y) | 73th |
| Daily open interest change versus prior year | -0.26σ (-7,854 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +1.6% |
| Open interest change, 21 sessions | -20.5% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 206.89 vs 208.79 (-0.9%)
- closed above gamma max at 200.31 vs 195.77 (+2.3%)
- closed above delta neutral at 196.53 vs 191.91 (+2.4%)
- closed below delta neutral at 203.72 vs 207.66 (-1.9%)
- closed above delta neutral at 209.37 vs 208.14 (+0.6%)
- closed below delta neutral at 224.50 vs 224.87 (-0.2%)
- closed above delta neutral at 230.37 vs 227.23 (+1.4%)
- closed below delta neutral at 222.25 vs 222.83 (-0.3%)
- closed above delta neutral at 221.18 vs 221.05 (+0.1%)
- closed below delta neutral at 216.47 vs 219.94 (-1.6%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/KLAC
Questions people ask about KLAC
Where is KLAC's gamma max today?
As of Oct 2, 2026, the gamma max for KLAC is 208.79, +0.9% from the 206.89 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 KLAC above or below its delta neutral price?
KLAC closed above delta neutral: 206.89 against a delta neutral price of 194.80. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does KLAC have?
355,543 contracts of open interest across 1,506 listed contracts on Oct 2, 2026, -2.2% 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.