# NCLH: options-positioning snapshot

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

| Published field | Value |
| --- | --- |
| Close (USD/share) | 15.14 |
| Delta neutral (USD/share) | 16.09 |
| Gamma neutral (USD/share) | 14.88 |
| Gamma max (USD/share) | 17.38 |
| Open interest (contracts) | 560,579 |
| Nearest-expiration max pain (USD/share) | 14.50 (2026-10-09) |
| All-expiration max pain (USD/share) | 17.00 |
| Net gamma exposure | 2,025,744 |
| Confirmed GEX flip (USD/share) | 14.88 |
| Call wall (USD/share) | 15.00 |
| Put wall (USD/share) | 15.00 |
| Put/call open-interest ratio | 0.84 |
| Options catalyst-intensity score (0–100) | 53.1 |
| Options directional score (-100 to +100) | -14.2 |
| IV rank | 100.0 |
| Front ATM IV | +52.0% |
| Front-minus-back IV | -4.2 pp |
| Front expected move | +7.2% |
| Front ATM straddle / spot | +5.0% |
| Front 25-delta risk reversal | 1.1 pp |
| Call OI change, 1 session | -10,267 contracts · -3.3% |
| Put OI change, 1 session | -6,734 contracts · -2.6% |
| Call minus put OI growth, 1 session | -0.7 pp |
| Call OI change, 5 sessions | +6,533 contracts · +2.2% |
| Put OI change, 5 sessions | +11,526 contracts · +4.7% |
| Call minus put OI growth, 5 sessions | -2.5 pp |
| Daily call OI change surprise | -0.53σ (252 prior changes) |
| Daily put OI change surprise | -0.46σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.24σ (252 prior changes) |
| Daily open interest change (contracts) | -17,001 |
| Daily open interest change z-score (prior 252) | -0.52σ (252 prior changes) |
| Gamma max distance from close | +14.8% |
| Delta neutral distance from close | +6.3% |
| Prior-year sessions closer to gamma max | 42.9% of 252 |
| Prior-year sessions closer to delta neutral | 56.7% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 27 | -1.0% | -2.4% to +0.8% | 33% | -2.2% to +0.2% | 0.0% |
| above | Day +3 | 27 | -1.7% | -4.9% to +0.5% | 30% | -4.5% to -0.1% | -0.1% |
| above | Day +5 | 27 | -0.8% | -4.8% to +4.1% | 48% | -4.1% to +3.4% | 0.0% |
| above | Day +10 | 27 | -4.7% | -8.7% to +3.1% | 44% | -7.9% to +1.5% | 0.0% |
| below | Day +1 | 27 | +0.0% | -0.9% to +1.7% | 52% | -0.8% to +1.3% | 0.0% |
| below | Day +3 | 27 | -0.4% | -2.4% to +3.2% | 48% | -1.7% to +3.0% | 0.0% |
| below | Day +5 | 27 | -1.2% | -3.7% to +4.6% | 48% | -2.4% to +3.8% | 0.0% |
| below | Day +10 | 27 | -1.1% | -7.9% to +5.0% | 41% | -6.3% to +4.6% | 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/NCLH.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/NCLH.csv)
- [Complete advanced analysis](https://halfonadouble.com/api/v1/analysis/NCLH.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).