MCHP max pain, gamma exposure (GEX) & options open interest
As of close · rank #213 by open interest · 1,394 sessions of history since Dec 1, 2020
MCHP's nearest-expiration max pain is 76.00 for 2026-10-09, its GEX flip is 60.37, net GEX is 34,459,777, its put/call open-interest ratio is 0.50. 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: IV rank 100
MCHP closed 11.2% above its gamma max of 72.24. It is 16.5% above the delta neutral price of 67.86. Total open interest is 479,632, -2.2% versus the previous session. Its options catalyst-intensity score is 42.3 out of 100, led by IV rank 100. 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 | -7,218 contracts · -2.2% |
| Put OI change, 1 session | -3,726 contracts · -2.3% |
| Call minus put OI growth, 1 session | +0.1 pp |
| Call OI change, 5 sessions | +1,810 contracts · +0.6% |
| Put OI change, 5 sessions | +4,803 contracts · +3.1% |
| Call minus put OI growth, 5 sessions | -2.5 pp |
| Daily call OI change surprise | -0.55σ (252 prior changes) |
| Daily put OI change surprise | -0.65σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.02σ (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 31 completed Day +10 paths · latest Sep 18, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 31 | +0.1% | -1.2% to +1.8% | 52% | -0.6% to +1.3% | 0.0% |
| Day +2 | 31 | +0.4% | -1.7% to +1.3% | 52% | -1.1% to +1.2% | 0.0% |
| Day +3 | 31 | +1.6% | -2.7% to +4.3% | 58% | -0.8% to +3.4% | 0.0% |
| Day +4 | 31 | +0.9% | -2.3% to +3.4% | 55% | -2.0% to +1.9% | 0.0% |
| Day +5 | 31 | -0.2% | -3.0% to +3.2% | 48% | -2.5% to +2.1% | 0.0% |
| Day +6 | 31 | -0.1% | -2.6% to +3.3% | 48% | -1.5% to +1.4% | 0.0% |
| Day +7 | 31 | +0.1% | -3.0% to +2.1% | 52% | -1.1% to +1.7% | 0.0% |
| Day +8 | 31 | +0.6% | -3.3% to +2.3% | 55% | -1.9% to +1.9% | 0.0% |
| Day +9 | 31 | +1.0% | -4.6% to +3.0% | 55% | -2.3% to +1.8% | 0.0% |
| Day +10 | 31 | +0.9% | -3.7% to +2.8% | 55% | -2.6% to +2.4% | 0.0% |
Crosses below gamma max 30 completed Day +10 paths · latest Aug 5, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 30 | +0.3% | -1.2% to +2.8% | 53% | -0.8% to +1.7% | 0.0% |
| Day +2 | 30 | +1.5% | -1.7% to +3.9% | 70% | +0.6% to +2.6% | +0.6% |
| Day +3 | 30 | +0.6% | -2.3% to +3.0% | 57% | -1.7% to +2.3% | 0.0% |
| Day +4 | 30 | +0.6% | -2.1% to +2.8% | 57% | -1.1% to +1.8% | 0.0% |
| Day +5 | 30 | +0.3% | -2.7% to +2.6% | 53% | -1.9% to +2.1% | 0.0% |
| Day +6 | 30 | -0.1% | -3.0% to +3.1% | 47% | -2.0% to +2.0% | 0.0% |
| Day +7 | 30 | +0.7% | -3.4% to +3.3% | 57% | -1.4% to +1.5% | 0.0% |
| Day +8 | 30 | -0.5% | -4.9% to +3.8% | 47% | -1.9% to +2.1% | 0.0% |
| Day +9 | 30 | -0.8% | -4.6% to +3.8% | 47% | -3.5% to +2.3% | 0.0% |
| Day +10 | 30 | -0.9% | -5.2% to +3.5% | 43% | -3.3% to +2.1% | 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 | 19% |
| Gamma max crosses | 31 |
| Delta neutral crosses | 4 |
| Prior-year sessions closer to gamma max | 81.3% of 252 |
| Prior-year sessions closer to delta neutral | 64.7% of 252 |
| Open interest percentile (1y) | 87th |
| Daily open interest change versus prior year | -0.64σ (-10,944 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +1.4% |
| Open interest change, 21 sessions | -21.2% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed above gamma max at 73.27 vs 71.93 (+1.8%)
- closed below gamma max at 77.79 vs 80.10 (-3.0%)
- closed above gamma max at 80.67 vs 77.47 (+4.0%)
- closed below gamma max at 81.35 vs 84.83 (-4.3%)
- closed above gamma max at 85.02 vs 83.57 (+1.7%)
- closed below gamma max at 80.51 vs 81.96 (-1.8%)
- closed above gamma max at 80.96 vs 79.66 (+1.6%)
- closed below gamma max at 84.23 vs 90.17 (-7.1%)
- closed above gamma max at 88.59 vs 86.48 (+2.4%)
- closed below gamma max at 91.94 vs 99.77 (-8.5%)
In today's screens
Neighbours by open interest
Cite or embed this snapshot
Share the dated 1600×840 image or cite this canonical page. The card contains public derived aggregates, not contract-level quotes.
Canonical source: https://halfonadouble.com/stock/MCHP
Questions people ask about MCHP
Where is MCHP's gamma max today?
As of Oct 2, 2026, the gamma max for MCHP is 72.24, -11.2% from the 81.32 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 MCHP above or below its delta neutral price?
MCHP closed above delta neutral: 81.32 against a delta neutral price of 67.86. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does MCHP have?
479,632 contracts of open interest across 654 listed contracts on Oct 2, 2026, -2.2% 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.