MDT max pain, gamma exposure (GEX) & options open interest
As of close · rank #322 by open interest · 1,394 sessions of history since Dec 1, 2020
MDT's nearest-expiration max pain is 87.00 for 2026-10-09, its GEX flip is 81.32, net GEX is 14,646,517, its put/call open-interest ratio is 0.58. 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: front IV premium 3.3 pp · smile convexity -11.9 pp
MDT closed 9.1% below its gamma max of 94.22. It is 1.4% below the delta neutral price of 87.58. Total open interest is 274,598, -4.5% versus the previous session. Its options catalyst-intensity score is 58.0 out of 100, led by front IV premium 3.3 pp, smile convexity -11.9 pp. 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 | -13,192 contracts · -7.1% |
| Put OI change, 1 session | +342 contracts · +0.3% |
| Call minus put OI growth, 1 session | -7.4 pp |
| Call OI change, 5 sessions | +20,564 contracts · +13.5% |
| Put OI change, 5 sessions | +7,455 contracts · +7.9% |
| Call minus put OI growth, 5 sessions | +5.5 pp |
| Daily call OI change surprise | -1.30σ (252 prior changes) |
| Daily put OI change surprise | +0.04σ (252 prior changes) |
| Daily call-minus-put growth surprise | -1.42σ (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 27 completed Day +10 paths · latest Aug 21, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 27 | -0.1% | -0.7% to +0.5% | 44% | -0.6% to +0.3% | 0.0% |
| Day +2 | 27 | -0.3% | -1.1% to +0.2% | 37% | -0.8% to +0.1% | 0.0% |
| Day +3 | 27 | -0.7% | -1.8% to +0.5% | 30% | -1.4% to -0.0% | -0.0% |
| Day +4 | 27 | -0.8% | -2.3% to +0.3% | 37% | -1.8% to +0.2% | 0.0% |
| Day +5 | 27 | -1.0% | -2.4% to +0.1% | 26% | -2.2% to -0.2% | -0.2% |
| Day +6 | 27 | -1.3% | -2.7% to +0.0% | 26% | -2.3% to -0.3% | -0.3% |
| Day +7 | 27 | -1.3% | -2.4% to -0.2% | 22% | -2.1% to -0.5% | -0.5% |
| Day +8 | 27 | -1.3% | -2.5% to +0.1% | 33% | -2.2% to +0.0% | 0.0% |
| Day +9 | 27 | -0.5% | -2.9% to +0.7% | 41% | -2.4% to +0.6% | 0.0% |
| Day +10 | 27 | -0.1% | -3.8% to +1.2% | 48% | -2.6% to +0.5% | 0.0% |
Crosses above gamma max 27 completed Day +10 paths · latest Aug 10, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 27 | -0.3% | -0.6% to +0.3% | 37% | -0.5% to +0.1% | 0.0% |
| Day +2 | 27 | -0.1% | -1.4% to +0.6% | 48% | -1.1% to +0.6% | 0.0% |
| Day +3 | 27 | -0.3% | -1.2% to +1.0% | 44% | -1.1% to +0.5% | 0.0% |
| Day +4 | 27 | -0.3% | -1.7% to +1.2% | 44% | -1.4% to +0.2% | 0.0% |
| Day +5 | 27 | -0.9% | -2.8% to +0.3% | 33% | -2.3% to +0.1% | 0.0% |
| Day +6 | 27 | -1.1% | -2.5% to +0.4% | 33% | -1.6% to +0.1% | 0.0% |
| Day +7 | 27 | -0.8% | -2.3% to +0.8% | 33% | -1.5% to +0.0% | 0.0% |
| Day +8 | 27 | -1.0% | -2.3% to +0.8% | 33% | -1.9% to +0.1% | 0.0% |
| Day +9 | 27 | -0.8% | -2.7% to +0.5% | 33% | -2.2% to +0.3% | 0.0% |
| Day +10 | 27 | -0.7% | -3.0% to +0.8% | 37% | -2.0% to +0.5% | 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 | 6% |
| Gamma max crosses | 12 |
| Delta neutral crosses | 11 |
| Prior-year sessions closer to gamma max | 83.7% of 252 |
| Prior-year sessions closer to delta neutral | 11.9% of 252 |
| Open interest percentile (1y) | 94th |
| Daily open interest change versus prior year | -0.90σ (-12,850 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +11.4% |
| Open interest change, 21 sessions | -10.8% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 87.09 vs 87.46 (-0.4%)
- closed above delta neutral at 88.64 vs 87.95 (+0.8%)
- closed below delta neutral at 89.30 vs 89.38 (-0.1%)
- closed below gamma max at 93.35 vs 96.55 (-3.4%)
- closed above gamma max at 89.41 vs 88.92 (+0.6%)
- closed above delta neutral at 77.95 vs 76.60 (+1.7%)
- closed below delta neutral at 77.60 vs 77.76 (-0.2%)
- closed above delta neutral at 78.40 vs 77.70 (+0.9%)
- closed below delta neutral at 87.10 vs 87.54 (-0.5%)
- closed above delta neutral at 88.00 vs 87.85 (+0.2%)
In today's screens
Neighbours by open interest
Cite or embed this snapshot
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Canonical source: https://halfonadouble.com/stock/MDT
Questions people ask about MDT
Where is MDT's gamma max today?
As of Oct 2, 2026, the gamma max for MDT is 94.22, +9.1% from the 86.38 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 MDT above or below its delta neutral price?
MDT closed below delta neutral: 86.38 against a delta neutral price of 87.58. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does MDT have?
274,598 contracts of open interest across 560 listed contracts on Oct 2, 2026, -4.5% 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.