LMND max pain, gamma exposure (GEX) & options open interest
As of close · rank #556 by open interest · 1,394 sessions of history since Dec 1, 2020
LMND's nearest-expiration max pain is 46.50 for 2026-10-09, its GEX flip is 46.59, net GEX is -61,732, its put/call open-interest ratio is 0.59. 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 -109.4 pp · IV rank 93
LMND closed 23.8% below its gamma max of 57.56. It is 4.2% above the delta neutral price of 44.52. Total open interest is 127,745, -4.5% versus the previous session. Its options catalyst-intensity score is 40.4 out of 100, led by 25Δ risk reversal -109.4 pp, IV rank 93. 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 | -2,657 contracts · -3.2% |
| Put OI change, 1 session | -3,382 contracts · -6.7% |
| Call minus put OI growth, 1 session | +3.5 pp |
| Call OI change, 5 sessions | +3,573 contracts · +4.6% |
| Put OI change, 5 sessions | +1,128 contracts · +2.4% |
| Call minus put OI growth, 5 sessions | +2.2 pp |
| Daily call OI change surprise | -0.41σ (252 prior changes) |
| Daily put OI change surprise | -0.74σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.92σ (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 above gamma max 23 completed Day +10 paths · latest Sep 3, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 23 | -1.4% | -2.9% to +3.1% | 48% | -2.7% to +2.7% | 0.0% |
| Day +2 | 23 | -1.0% | -6.4% to +3.6% | 43% | -5.6% to +1.4% | 0.0% |
| Day +3 | 23 | -4.6% | -9.1% to +5.9% | 43% | -7.4% to +1.4% | 0.0% |
| Day +4 | 23 | -2.7% | -6.5% to +8.8% | 35% | -4.7% to +5.6% | 0.0% |
| Day +5 | 23 | +0.2% | -8.1% to +11.7% | 52% | -6.6% to +9.1% | 0.0% |
| Day +6 | 23 | +2.1% | -9.7% to +16.6% | 52% | -6.0% to +8.1% | 0.0% |
| Day +7 | 23 | -1.5% | -9.7% to +21.0% | 48% | -5.0% to +11.6% | 0.0% |
| Day +8 | 23 | +2.5% | -10.8% to +23.7% | 57% | -5.2% to +8.6% | 0.0% |
| Day +9 | 23 | +2.3% | -10.8% to +19.6% | 61% | -6.1% to +11.1% | 0.0% |
| Day +10 | 23 | +1.5% | -10.1% to +24.4% | 61% | -8.3% to +17.1% | 0.0% |
Crosses below gamma max 23 completed Day +10 paths · latest Jul 2, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 23 | -0.9% | -3.1% to +2.0% | 35% | -2.4% to +1.1% | 0.0% |
| Day +2 | 23 | -0.0% | -1.9% to +4.6% | 48% | -1.7% to +3.7% | 0.0% |
| Day +3 | 23 | -0.7% | -3.2% to +4.3% | 39% | -2.3% to +2.8% | 0.0% |
| Day +4 | 23 | -2.1% | -3.9% to +14.9% | 39% | -3.5% to +6.3% | 0.0% |
| Day +5 | 23 | +1.6% | -6.9% to +16.9% | 52% | -6.4% to +7.7% | 0.0% |
| Day +6 | 23 | -0.5% | -7.7% to +21.2% | 48% | -6.2% to +18.6% | 0.0% |
| Day +7 | 23 | -1.9% | -9.1% to +22.8% | 48% | -8.5% to +14.5% | 0.0% |
| Day +8 | 23 | -2.4% | -8.0% to +18.2% | 48% | -7.6% to +13.3% | 0.0% |
| Day +9 | 23 | +1.6% | -8.2% to +20.7% | 52% | -7.2% to +18.0% | 0.0% |
| Day +10 | 23 | -0.2% | -7.9% to +19.1% | 48% | -6.6% to +18.6% | 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 | 5% |
| Gamma max crosses | 18 |
| Delta neutral crosses | 16 |
| Prior-year sessions closer to gamma max | 73.8% of 252 |
| Prior-year sessions closer to delta neutral | 22.2% of 252 |
| Open interest percentile (1y) | 27th |
| Daily open interest change versus prior year | -0.57σ (-6,039 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +3.8% |
| Open interest change, 21 sessions | -3.2% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed above delta neutral at 45.14 vs 44.77 (+0.8%)
- closed below delta neutral at 43.91 vs 45.84 (-4.4%)
- closed above delta neutral at 44.93 vs 44.58 (+0.8%)
- closed below delta neutral at 44.36 vs 45.70 (-3.0%)
- closed above delta neutral at 49.61 vs 49.18 (+0.9%)
- closed below delta neutral at 49.22 vs 49.57 (-0.7%)
- closed below gamma max at 53.41 vs 61.61 (-15.4%)
- closed above gamma max at 55.08 vs 54.71 (+0.7%)
- closed above delta neutral at 51.25 vs 50.94 (+0.6%)
- closed below delta neutral at 50.12 vs 50.59 (-0.9%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/LMND
Questions people ask about LMND
Where is LMND's gamma max today?
As of Oct 2, 2026, the gamma max for LMND is 57.56, +23.8% from the 46.49 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 LMND above or below its delta neutral price?
LMND closed above delta neutral: 46.49 against a delta neutral price of 44.52. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does LMND have?
127,745 contracts of open interest across 464 listed contracts on Oct 2, 2026, -4.5% 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.