LULU max pain, gamma exposure (GEX) & options open interest
As of close · rank #225 by open interest · 1,394 sessions of history since Dec 1, 2020
LULU's nearest-expiration max pain is 99.00 for 2026-10-09, its GEX flip is 100.86, net GEX is -9,243,320, its put/call open-interest ratio is 0.65. 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: volume/OI 0.12 · front IV premium -0.7 pp
LULU closed 31.4% below its gamma max of 124.16. It is 12.1% below the delta neutral price of 105.92. Total open interest is 446,919, -5.3% versus the previous session. Its options catalyst-intensity score is 50.1 out of 100, led by volume/OI 0.12, front IV premium -0.7 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 | -12,100 contracts · -4.3% |
| Put OI change, 1 session | -12,869 contracts · -6.8% |
| Call minus put OI growth, 1 session | +2.5 pp |
| Call OI change, 5 sessions | +5,117 contracts · +1.9% |
| Put OI change, 5 sessions | -116 contracts · -0.1% |
| Call minus put OI growth, 5 sessions | +2.0 pp |
| Daily call OI change surprise | -0.77σ (252 prior changes) |
| Daily put OI change surprise | -1.11σ (252 prior changes) |
| Daily call-minus-put growth surprise | +1.13σ (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 8 completed Day +10 paths · latest Nov 26, 2025
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 8 | -0.7% | -1.7% to +0.2% | 25% | -2.1% to +0.7% | 0.0% |
| Day +2 | 8 | -0.3% | -1.4% to -0.0% | 25% | -2.6% to +0.8% | 0.0% |
| Day +3 | 8 | +0.2% | -2.0% to +0.6% | 63% | -4.9% to +1.6% | 0.0% |
| Day +4 | 8 | +0.0% | -3.9% to +0.8% | 50% | -5.0% to +1.7% | 0.0% |
| Day +5 | 8 | +0.2% | -3.6% to +0.6% | 63% | -4.0% to +1.2% | 0.0% |
| Day +6 | 8 | -1.4% | -3.4% to +0.2% | 38% | -4.2% to +0.9% | 0.0% |
| Day +7 | 8 | -1.1% | -4.5% to +1.7% | 38% | -4.8% to +4.1% | 0.0% |
| Day +8 | 8 | -2.5% | -4.7% to +0.5% | 38% | -6.7% to +0.6% | 0.0% |
| Day +9 | 8 | -3.9% | -5.5% to +0.6% | 38% | -7.2% to +1.9% | 0.0% |
| Day +10 | 8 | -4.0% | -6.0% to +2.3% | 38% | -6.2% to +3.1% | 0.0% |
Crosses below gamma max 8 completed Day +10 paths · latest Dec 9, 2024
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 8 | -1.1% | -1.8% to +1.3% | 38% | -1.9% to +1.4% | 0.0% |
| Day +2 | 8 | -0.3% | -1.9% to +1.6% | 38% | -4.1% to +1.9% | 0.0% |
| Day +3 | 8 | -1.1% | -3.9% to +0.2% | 25% | -4.1% to +3.3% | 0.0% |
| Day +4 | 8 | -1.5% | -2.7% to +0.9% | 38% | -3.3% to +2.0% | 0.0% |
| Day +5 | 8 | -2.0% | -3.4% to -0.9% | 25% | -3.7% to +1.6% | 0.0% |
| Day +6 | 8 | -2.4% | -3.6% to -0.6% | 25% | -3.9% to +2.5% | 0.0% |
| Day +7 | 8 | -2.9% | -6.2% to -0.5% | 13% | -7.2% to -0.3% | -0.3% |
| Day +8 | 8 | -4.0% | -6.7% to -0.9% | 25% | -7.7% to +0.2% | 0.0% |
| Day +9 | 8 | -4.4% | -5.7% to -0.9% | 25% | -5.8% to +0.4% | 0.0% |
| Day +10 | 8 | -3.1% | -3.6% to +0.8% | 38% | -4.7% to +1.0% | 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 | 2 |
| Delta neutral crosses | 13 |
| Prior-year sessions closer to gamma max | 67.5% of 252 |
| Prior-year sessions closer to delta neutral | 83.3% of 252 |
| Open interest percentile (1y) | 64th |
| Daily open interest change versus prior year | -0.93σ (-24,969 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +1.1% |
| Open interest change, 21 sessions | +7.0% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 185.17 vs 187.65 (-1.3%)
- closed above delta neutral at 185.98 vs 185.89 (+0.0%)
- closed below delta neutral at 178.11 vs 185.34 (-4.1%)
- closed above delta neutral at 187.30 vs 186.66 (+0.3%)
- closed below delta neutral at 188.76 vs 197.38 (-4.6%)
- closed above delta neutral at 187.62 vs 184.32 (+1.8%)
- closed below delta neutral at 182.28 vs 182.64 (-0.2%)
- closed below gamma max at 184.18 vs 228.52 (-24.1%)
- closed above gamma max at 181.94 vs 181.92 (+0.0%)
- closed above delta neutral at 177.51 vs 175.09 (+1.4%)
In today's screens
Neighbours by open interest
Cite or embed this snapshot
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Canonical source: https://halfonadouble.com/stock/LULU
Questions people ask about LULU
Where is LULU's gamma max today?
As of Oct 2, 2026, the gamma max for LULU is 124.16, +31.4% from the 94.46 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 LULU above or below its delta neutral price?
LULU closed below delta neutral: 94.46 against a delta neutral price of 105.92. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does LULU have?
446,919 contracts of open interest across 1,033 listed contracts on Oct 2, 2026, -5.3% 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.