LYB max pain, gamma exposure (GEX) & options open interest
As of close · rank #597 by open interest · 1,394 sessions of history since Dec 1, 2020
LYB's nearest-expiration max pain is 62.50 for 2026-10-16, its GEX flip is 71.40, net GEX is -7,654,974, its put/call open-interest ratio is 1.90. 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 0.03σ
LYB closed 57.9% below its gamma max of 92.53. It is 12.0% below the delta neutral price of 65.64. Total open interest is 112,198, +0.2% versus the previous session. Its options catalyst-intensity score is 46.2 out of 100, led by OI change 0.03σ. 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 | +218 contracts · +0.6% |
| Put OI change, 1 session | +49 contracts · +0.1% |
| Call minus put OI growth, 1 session | +0.5 pp |
| Call OI change, 5 sessions | +1,502 contracts · +4.0% |
| Put OI change, 5 sessions | +2,809 contracts · +4.0% |
| Call minus put OI growth, 5 sessions | +0.1 pp |
| Daily call OI change surprise | +0.07σ (252 prior changes) |
| Daily put OI change surprise | -0.00σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.16σ (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 24 completed Day +10 paths · latest Mar 13, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 24 | -0.5% | -1.3% to +1.3% | 33% | -1.1% to +0.5% | 0.0% |
| Day +2 | 24 | -1.6% | -3.1% to +1.9% | 38% | -3.0% to +1.8% | 0.0% |
| Day +3 | 24 | +0.0% | -3.3% to +1.6% | 50% | -3.1% to +1.3% | 0.0% |
| Day +4 | 24 | -0.1% | -2.2% to +1.6% | 50% | -1.9% to +1.2% | 0.0% |
| Day +5 | 24 | -0.8% | -2.3% to +1.5% | 38% | -2.1% to +1.2% | 0.0% |
| Day +6 | 24 | -1.4% | -3.0% to +1.3% | 33% | -2.5% to +0.6% | 0.0% |
| Day +7 | 24 | +0.2% | -2.7% to +1.3% | 54% | -1.6% to +1.2% | 0.0% |
| Day +8 | 24 | -0.5% | -2.7% to +2.7% | 42% | -1.9% to +2.3% | 0.0% |
| Day +9 | 24 | -1.1% | -3.8% to +2.5% | 38% | -2.6% to +2.4% | 0.0% |
| Day +10 | 24 | -0.6% | -2.9% to +2.2% | 42% | -2.2% to +1.8% | 0.0% |
Crosses above gamma max 25 completed Day +10 paths · latest Mar 12, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 25 | -1.0% | -1.9% to +0.1% | 28% | -1.6% to -0.1% | -0.1% |
| Day +2 | 25 | -0.6% | -3.1% to +0.1% | 28% | -2.1% to -0.2% | -0.2% |
| Day +3 | 25 | -1.4% | -4.3% to -0.1% | 20% | -4.2% to -0.2% | -0.2% |
| Day +4 | 25 | -0.6% | -4.3% to +1.2% | 44% | -3.7% to +1.0% | 0.0% |
| Day +5 | 25 | -0.9% | -3.9% to +1.2% | 40% | -3.4% to +1.1% | 0.0% |
| Day +6 | 25 | -0.7% | -4.0% to +1.0% | 32% | -3.7% to +0.8% | 0.0% |
| Day +7 | 25 | -2.0% | -4.1% to +1.1% | 36% | -3.9% to +0.9% | 0.0% |
| Day +8 | 25 | -1.7% | -4.1% to +2.3% | 40% | -3.3% to +1.1% | 0.0% |
| Day +9 | 25 | -2.5% | -5.1% to +2.2% | 44% | -4.0% to +1.8% | 0.0% |
| Day +10 | 25 | -3.1% | -5.1% to +1.2% | 36% | -5.0% to +1.2% | 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 | 3% |
| Gamma max crosses | 10 |
| Delta neutral crosses | 6 |
| Prior-year sessions closer to gamma max | 91.7% of 252 |
| Prior-year sessions closer to delta neutral | 70.2% of 252 |
| Open interest percentile (1y) | 3th |
| Daily open interest change versus prior year | +0.03σ (267 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +4.0% |
| Open interest change, 21 sessions | -20.8% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 67.53 vs 67.94 (-0.6%)
- closed above delta neutral at 66.06 vs 65.63 (+0.6%)
- closed below delta neutral at 70.08 vs 70.44 (-0.5%)
- closed above delta neutral at 68.58 vs 67.23 (+2.0%)
- closed below delta neutral at 66.27 vs 66.50 (-0.3%)
- closed below gamma max at 72.30 vs 75.10 (-3.9%)
- closed above gamma max at 74.33 vs 72.33 (+2.7%)
- closed below gamma max at 67.11 vs 67.33 (-0.3%)
- closed above gamma max at 65.88 vs 64.89 (+1.5%)
- closed below gamma max at 57.78 vs 58.13 (-0.6%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/LYB
Questions people ask about LYB
Where is LYB's gamma max today?
As of Oct 2, 2026, the gamma max for LYB is 92.53, +57.9% from the 58.59 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 LYB above or below its delta neutral price?
LYB closed below delta neutral: 58.59 against a delta neutral price of 65.64. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does LYB have?
112,198 contracts of open interest across 391 listed contracts on Oct 2, 2026, +0.2% 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.