LWLG max pain, gamma exposure (GEX) & options open interest
As of close · rank #509 by open interest · 1,142 sessions of history since Oct 14, 2021
LWLG's nearest-expiration max pain is 5.00 for 2026-10-16, net GEX is 3,815,185, its put/call open-interest ratio is 0.22. 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: OI change 0.15σ
LWLG closed 2.7% below its gamma max of 5.85. It is 33.1% above the delta neutral price of 3.82. Total open interest is 141,206, +1.0% versus the previous session. Its options catalyst-intensity score is 36.2 out of 100, led by OI change 0.15σ. 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 | +1,366 contracts · +1.2% |
| Put OI change, 1 session | -12 contracts · -0.0% |
| Call minus put OI growth, 1 session | +1.2 pp |
| Call OI change, 5 sessions | +2,737 contracts · +2.4% |
| Put OI change, 5 sessions | -226 contracts · -0.9% |
| Call minus put OI growth, 5 sessions | +3.3 pp |
| Daily call OI change surprise | +0.23σ (252 prior changes) |
| Daily put OI change surprise | -0.04σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.30σ (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 19 completed Day +10 paths · latest Sep 17, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 19 | -2.5% | -6.9% to +3.2% | 37% | -6.8% to +1.6% | 0.0% |
| Day +2 | 19 | +2.4% | -4.6% to +8.6% | 58% | -4.3% to +7.9% | 0.0% |
| Day +3 | 19 | -0.4% | -7.5% to +6.5% | 47% | -7.1% to +4.4% | 0.0% |
| Day +4 | 19 | -0.7% | -9.8% to +5.8% | 42% | -8.9% to +5.0% | 0.0% |
| Day +5 | 19 | +0.9% | -6.9% to +4.4% | 53% | -4.8% to +3.7% | 0.0% |
| Day +6 | 19 | +2.4% | -7.4% to +7.0% | 53% | -5.5% to +5.8% | 0.0% |
| Day +7 | 19 | -1.1% | -10.0% to +5.8% | 42% | -9.0% to +5.2% | 0.0% |
| Day +8 | 19 | -1.7% | -8.4% to +12.9% | 42% | -7.2% to +12.0% | 0.0% |
| Day +9 | 19 | -4.9% | -9.3% to +17.5% | 37% | -8.2% to +14.7% | 0.0% |
| Day +10 | 19 | +1.0% | -10.8% to +14.8% | 58% | -10.3% to +11.4% | 0.0% |
Crosses below gamma max 27 completed Day +10 paths · latest Sep 10, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 27 | -1.5% | -3.8% to +3.1% | 44% | -3.5% to +1.6% | 0.0% |
| Day +2 | 27 | -0.9% | -4.6% to +1.7% | 44% | -1.8% to +0.9% | 0.0% |
| Day +3 | 27 | 0.0% | -6.4% to +10.2% | 48% | -6.1% to +5.0% | 0.0% |
| Day +4 | 27 | -0.4% | -7.4% to +10.5% | 48% | -6.4% to +8.5% | 0.0% |
| Day +5 | 27 | +0.9% | -9.9% to +18.1% | 52% | -8.3% to +16.8% | 0.0% |
| Day +6 | 27 | -2.8% | -7.3% to +10.0% | 37% | -6.9% to +6.4% | 0.0% |
| Day +7 | 27 | -3.8% | -7.1% to +7.0% | 48% | -6.9% to +6.2% | 0.0% |
| Day +8 | 27 | +0.8% | -8.7% to +9.5% | 52% | -6.7% to +7.0% | 0.0% |
| Day +9 | 27 | +2.1% | -10.4% to +14.2% | 56% | -8.7% to +12.7% | 0.0% |
| Day +10 | 27 | +1.6% | -11.3% to +17.5% | 52% | -10.3% to +14.9% | 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 | 45% |
| Gamma max crosses | 59 |
| Delta neutral crosses | 0 |
| Prior-year sessions closer to gamma max | 11.9% of 252 |
| Prior-year sessions closer to delta neutral | 25.0% of 252 |
| Open interest percentile (1y) | 68th |
| Daily open interest change versus prior year | +0.15σ (1,354 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +1.8% |
| Open interest change, 21 sessions | -8.8% |
| History available | Oct 14, 2021 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 5.10 vs 5.66 (-10.9%)
- closed above gamma max at 5.02 vs 5.00 (+0.4%)
- closed below gamma max at 5.16 vs 5.21 (-1.0%)
- closed above gamma max at 5.27 vs 5.15 (+2.2%)
- closed below gamma max at 5.43 vs 6.11 (-12.5%)
- closed above gamma max at 6.19 vs 0.63 (+89.9%)
- closed below gamma max at 6.10 vs 8.71 (-42.7%)
- closed above gamma max at 6.24 vs 0.72 (+88.5%)
- closed below gamma max at 7.57 vs 9.38 (-24.0%)
- closed above gamma max at 7.29 vs 0.73 (+89.9%)
In today's screens
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Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/LWLG
Questions people ask about LWLG
Where is LWLG's gamma max today?
As of Oct 2, 2026, the gamma max for LWLG is 5.85, +2.7% from the 5.70 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 LWLG above or below its delta neutral price?
LWLG closed above delta neutral: 5.70 against a delta neutral price of 3.82. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does LWLG have?
141,206 contracts of open interest across 178 listed contracts on Oct 2, 2026, +1.0% 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.