META max pain, gamma exposure (GEX) & options open interest
As of close · rank #29 by open interest · 1,149 sessions of history since Jul 9, 2021
META's nearest-expiration max pain is 720.00 for 2026-10-05, its GEX flip is 555.50, net GEX is 233,985,663, its put/call open-interest ratio is 0.46. 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: volume/OI 0.17 · smile convexity 17.6 pp
META closed 4.0% below its gamma max of 756.97. It is 15.5% above the delta neutral price of 615.54. Total open interest is 3,094,084, -6.4% versus the previous session. Its options catalyst-intensity score is 37.1 out of 100, led by volume/OI 0.17, smile convexity 17.6 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 | -133,877 contracts · -6.0% |
| Put OI change, 1 session | -76,430 contracts · -7.2% |
| Call minus put OI growth, 1 session | +1.3 pp |
| Call OI change, 5 sessions | -65,436 contracts · -3.0% |
| Put OI change, 5 sessions | -3,958 contracts · -0.4% |
| Call minus put OI growth, 5 sessions | -2.6 pp |
| Daily call OI change surprise | -1.43σ (252 prior changes) |
| Daily put OI change surprise | -1.53σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.39σ (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 17 completed Day +10 paths · latest Sep 22, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 18 | +0.4% | -0.4% to +1.0% | 56% | -0.4% to +0.8% | 0.0% |
| Day +2 | 18 | +1.0% | -0.5% to +2.4% | 67% | -0.4% to +2.2% | 0.0% |
| Day +3 | 18 | -0.1% | -1.3% to +1.3% | 44% | -1.3% to +1.2% | 0.0% |
| Day +4 | 18 | -0.8% | -2.8% to +1.7% | 44% | -2.8% to +1.1% | 0.0% |
| Day +5 | 18 | -0.9% | -3.4% to +2.0% | 44% | -3.1% to +2.0% | 0.0% |
| Day +6 | 18 | -1.6% | -2.9% to +2.6% | 39% | -2.7% to +2.2% | 0.0% |
| Day +7 | 18 | -1.0% | -4.5% to +1.9% | 44% | -4.4% to +1.5% | 0.0% |
| Day +8 | 18 | -0.5% | -4.8% to +2.3% | 50% | -4.1% to +1.7% | 0.0% |
| Day +9 | 17 | -0.0% | -4.7% to +2.5% | 47% | -4.7% to +2.5% | 0.0% |
| Day +10 | 17 | -0.5% | -7.3% to +2.3% | 41% | -7.3% to +2.3% | 0.0% |
Crosses above gamma max 16 completed Day +10 paths · latest Sep 21, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 17 | +0.0% | -1.9% to +0.7% | 53% | -1.9% to +0.7% | 0.0% |
| Day +2 | 17 | -0.2% | -1.2% to +1.0% | 47% | -1.2% to +1.0% | 0.0% |
| Day +3 | 17 | +0.4% | -0.5% to +1.8% | 65% | -0.5% to +1.8% | 0.0% |
| Day +4 | 17 | +0.8% | -1.1% to +1.3% | 53% | -1.1% to +1.3% | 0.0% |
| Day +5 | 17 | +0.2% | -2.7% to +1.5% | 53% | -2.7% to +1.5% | 0.0% |
| Day +6 | 17 | -1.2% | -2.6% to +2.1% | 41% | -2.6% to +2.1% | 0.0% |
| Day +7 | 17 | -0.5% | -2.2% to +1.9% | 41% | -2.2% to +1.9% | 0.0% |
| Day +8 | 17 | +0.3% | -3.1% to +1.5% | 53% | -3.1% to +1.5% | 0.0% |
| Day +9 | 17 | -0.1% | -1.8% to +1.9% | 47% | -1.8% to +1.9% | 0.0% |
| Day +10 | 16 | +0.1% | -2.9% to +1.9% | 50% | -2.8% to +1.8% | 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 | 2% |
| Gamma max crosses | 8 |
| Delta neutral crosses | 20 |
| Prior-year sessions closer to gamma max | 13.9% of 252 |
| Prior-year sessions closer to delta neutral | 94.8% of 252 |
| Open interest percentile (1y) | 73th |
| Daily open interest change versus prior year | -1.49σ (-210,307 contracts; 252 prior changes) |
| Open interest change, 5 sessions | -2.2% |
| Open interest change, 21 sessions | -6.9% |
| History available | Jul 9, 2021 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 736.59 vs 762.35 (-3.5%)
- closed above gamma max at 741.24 vs 715.08 (+3.5%)
- closed above delta neutral at 546.03 vs 544.77 (+0.2%)
- closed below delta neutral at 543.67 vs 548.59 (-0.9%)
- closed above delta neutral at 556.71 vs 542.44 (+2.6%)
- closed below delta neutral at 539.03 vs 554.53 (-2.9%)
- closed below gamma max at 656.73 vs 690.29 (-5.1%)
- closed above gamma max at 669.21 vs 668.88 (+0.1%)
- closed above delta neutral at 550.25 vs 545.54 (+0.9%)
- closed below delta neutral at 542.87 vs 549.46 (-1.2%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/META
Questions people ask about META
Where is META's gamma max today?
As of Oct 2, 2026, the gamma max for META is 756.97, +4.0% from the 728.08 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 META above or below its delta neutral price?
META closed above delta neutral: 728.08 against a delta neutral price of 615.54. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does META have?
3,094,084 contracts of open interest across 4,098 listed contracts on Oct 2, 2026, -6.4% 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.