# MARA: options-positioning snapshot

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

| Published field | Value |
| --- | --- |
| Close (USD/share) | 11.23 |
| Delta neutral (USD/share) | 10.41 |
| Gamma neutral (USD/share) | 10.46 |
| Gamma max (USD/share) | 13.96 |
| Open interest (contracts) | 1,402,473 |
| Nearest-expiration max pain (USD/share) | 12.00 (2026-10-09) |
| All-expiration max pain (USD/share) | 12.00 |
| Net gamma exposure | 12,460,980 |
| Confirmed GEX flip (USD/share) | 10.46 |
| Call wall (USD/share) | 12.00 |
| Put wall (USD/share) | 12.00 |
| Put/call open-interest ratio | 0.78 |
| Options catalyst-intensity score (0–100) | 51.2 |
| Options directional score (-100 to +100) | 7.6 |
| IV rank | 25.4 |
| Front ATM IV | +77.7% |
| Front-minus-back IV | -5.2 pp |
| Front expected move | +10.8% |
| Front ATM straddle / spot | +8.0% |
| Front 25-delta risk reversal | -4.7 pp |
| Call OI change, 1 session | -163,995 contracts · -17.2% |
| Put OI change, 1 session | -47,739 contracts · -7.2% |
| Call minus put OI growth, 1 session | -10.0 pp |
| Call OI change, 5 sessions | +26,565 contracts · +3.5% |
| Put OI change, 5 sessions | +19,624 contracts · +3.3% |
| Call minus put OI growth, 5 sessions | +0.2 pp |
| Daily call OI change surprise | -1.51σ (252 prior changes) |
| Daily put OI change surprise | -1.01σ (252 prior changes) |
| Daily call-minus-put growth surprise | -2.11σ (252 prior changes) |
| Daily open interest change (contracts) | -211,734 |
| Daily open interest change z-score (prior 252) | -1.38σ (252 prior changes) |
| Gamma max distance from close | +24.3% |
| Delta neutral distance from close | -7.3% |
| Prior-year sessions closer to gamma max | 92.1% of 252 |
| Prior-year sessions closer to delta neutral | 38.9% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 39 | +1.0% | -2.7% to +4.0% | 56% | -1.3% to +2.9% | 0.0% |
| above | Day +3 | 39 | +3.0% | -8.1% to +9.9% | 59% | -4.3% to +8.4% | 0.0% |
| above | Day +5 | 39 | +1.2% | -10.7% to +12.2% | 51% | -5.2% to +6.7% | 0.0% |
| above | Day +10 | 38 | +1.0% | -12.5% to +10.1% | 58% | -8.4% to +5.1% | 0.0% |
| below | Day +1 | 39 | -1.2% | -5.2% to +1.9% | 41% | -3.4% to +0.6% | 0.0% |
| below | Day +3 | 39 | -0.2% | -5.9% to +5.9% | 49% | -1.2% to +3.8% | 0.0% |
| below | Day +5 | 39 | +0.3% | -5.7% to +9.6% | 51% | -5.2% to +6.2% | 0.0% |
| below | Day +10 | 38 | +2.1% | -9.8% to +21.2% | 55% | -4.9% to +8.3% | 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/MARA.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/MARA.csv)
- [Complete advanced analysis](https://halfonadouble.com/api/v1/analysis/MARA.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).