# M: options-positioning snapshot

Canonical: https://halfonadouble.com/stock/M
Data through: 2026-10-02 close
Publisher: Half on a Double

| Published field | Value |
| --- | --- |
| Close (USD/share) | 22.73 |
| Delta neutral (USD/share) | 20.70 |
| Gamma neutral (USD/share) | 18.02 |
| Gamma max (USD/share) | 23.98 |
| Open interest (contracts) | 127,120 |
| Nearest-expiration max pain (USD/share) | 22.50 (2026-10-09) |
| All-expiration max pain (USD/share) | 22.00 |
| Net gamma exposure | 6,500,421 |
| Confirmed GEX flip (USD/share) | 18.02 |
| Call wall (USD/share) | 23.00 |
| Put wall (USD/share) | 22.00 |
| Put/call open-interest ratio | 0.76 |
| Options catalyst-intensity score (0–100) | 51.8 |
| Options directional score (-100 to +100) | 8.3 |
| IV rank | 83.3 |
| Front ATM IV | +37.6% |
| Front-minus-back IV | -5.0 pp |
| Front expected move | +5.2% |
| Front ATM straddle / spot | +4.3% |
| Front 25-delta risk reversal | -11.0 pp |
| Call OI change, 1 session | -3,299 contracts · -4.4% |
| Put OI change, 1 session | -2,701 contracts · -4.7% |
| Call minus put OI growth, 1 session | +0.3 pp |
| Call OI change, 5 sessions | +2,512 contracts · +3.6% |
| Put OI change, 5 sessions | +2,325 contracts · +4.4% |
| Call minus put OI growth, 5 sessions | -0.8 pp |
| Daily call OI change surprise | -0.42σ (252 prior changes) |
| Daily put OI change surprise | -0.28σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.03σ (252 prior changes) |
| Daily open interest change (contracts) | -6,000 |
| Daily open interest change z-score (prior 252) | -0.37σ (252 prior changes) |
| Gamma max distance from close | +5.5% |
| Delta neutral distance from close | -8.9% |
| Prior-year sessions closer to gamma max | 31.0% of 252 |
| Prior-year sessions closer to delta neutral | 72.6% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 34 | +0.0% | -2.9% to +2.2% | 50% | -1.8% to +1.2% | 0.0% |
| above | Day +3 | 34 | +0.2% | -3.6% to +4.1% | 50% | -2.7% to +2.2% | 0.0% |
| above | Day +5 | 34 | -0.5% | -3.3% to +3.5% | 44% | -2.4% to +1.4% | 0.0% |
| above | Day +10 | 34 | -0.2% | -4.0% to +4.5% | 50% | -2.8% to +3.3% | 0.0% |
| below | Day +1 | 30 | +0.5% | -0.4% to +2.9% | 67% | +0.2% to +2.1% | +0.2% |
| below | Day +3 | 30 | +0.5% | -1.0% to +3.8% | 63% | -0.4% to +2.2% | 0.0% |
| below | Day +5 | 30 | +1.7% | -2.3% to +4.0% | 63% | -0.2% to +2.6% | 0.0% |
| below | Day +10 | 30 | +0.4% | -4.7% to +7.4% | 50% | -3.8% to +3.8% | 0.0% |

Returns are close-to-close after the labelled number of subsequent trading sessions. Cohorts require gamma max to be within 10% of the close on both crossing sessions. Historical windows can overlap and are not independent observations, so interval coverage is not guaranteed.

- [Machine-readable snapshot](https://halfonadouble.com/api/v1/tickers/M.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/M.csv)
- [Complete advanced analysis](https://halfonadouble.com/api/v1/analysis/M.json?date=2026-10-02)

An em dash means unavailable, not zero. Values use the same display rounding as the HTML page. This is a current snapshot; full history and individual event paths are on the canonical page.

[Definitions and limitations](https://halfonadouble.com/methodology.md).