NEE max pain, gamma exposure (GEX) & options open interest
As of close · rank #222 by open interest · 1,394 sessions of history since Dec 1, 2020
NEE's nearest-expiration max pain is 77.00 for 2026-10-09, its GEX flip is 79.33, net GEX is -15,775,586, its put/call open-interest ratio is 0.85. 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: smile convexity 33.5 pp · IV rank 100 · front IV premium 3.8 pp
NEE closed 19.8% below its gamma max of 92.07. It is 2.6% below the delta neutral price of 78.82. Total open interest is 454,572, -2.0% versus the previous session. Its options catalyst-intensity score is 59.8 out of 100, led by smile convexity 33.5 pp, IV rank 100, front IV premium 3.8 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 | -10,543 contracts · -4.1% |
| Put OI change, 1 session | +1,470 contracts · +0.7% |
| Call minus put OI growth, 1 session | -4.8 pp |
| Call OI change, 5 sessions | +17,819 contracts · +7.8% |
| Put OI change, 5 sessions | +20,292 contracts · +10.8% |
| Call minus put OI growth, 5 sessions | -3.0 pp |
| Daily call OI change surprise | -0.71σ (252 prior changes) |
| Daily put OI change surprise | +0.13σ (252 prior changes) |
| Daily call-minus-put growth surprise | -2.08σ (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 21 completed Day +10 paths · latest Feb 25, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 21 | -0.4% | -1.1% to +1.4% | 43% | -0.8% to +1.3% | 0.0% |
| Day +2 | 21 | -0.3% | -1.2% to +0.7% | 43% | -0.6% to +0.5% | 0.0% |
| Day +3 | 21 | -0.4% | -2.1% to +1.0% | 38% | -2.0% to +0.8% | 0.0% |
| Day +4 | 21 | -0.1% | -1.5% to +1.8% | 43% | -1.1% to +1.5% | 0.0% |
| Day +5 | 21 | +0.4% | -2.6% to +2.6% | 52% | -1.8% to +2.1% | 0.0% |
| Day +6 | 21 | +1.0% | -2.6% to +2.2% | 57% | -2.1% to +1.8% | 0.0% |
| Day +7 | 21 | -0.8% | -2.6% to +1.2% | 43% | -2.3% to +1.2% | 0.0% |
| Day +8 | 21 | +0.2% | -3.3% to +1.4% | 52% | -1.9% to +1.1% | 0.0% |
| Day +9 | 21 | -0.2% | -3.4% to +1.6% | 48% | -2.1% to +1.3% | 0.0% |
| Day +10 | 21 | -0.5% | -3.6% to +0.8% | 38% | -3.0% to +0.7% | 0.0% |
Crosses above gamma max 21 completed Day +10 paths · latest Feb 24, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 21 | +0.2% | -0.6% to +0.9% | 62% | -0.6% to +0.8% | 0.0% |
| Day +2 | 21 | +0.3% | -1.2% to +1.3% | 52% | -0.8% to +0.8% | 0.0% |
| Day +3 | 21 | +0.4% | -2.0% to +1.8% | 52% | -1.4% to +1.7% | 0.0% |
| Day +4 | 21 | -0.9% | -2.1% to +1.8% | 43% | -1.9% to +1.5% | 0.0% |
| Day +5 | 21 | +0.3% | -3.2% to +1.8% | 52% | -2.3% to +1.4% | 0.0% |
| Day +6 | 21 | -0.5% | -2.7% to +2.6% | 48% | -2.4% to +2.3% | 0.0% |
| Day +7 | 21 | -0.7% | -2.7% to +2.3% | 48% | -1.6% to +1.9% | 0.0% |
| Day +8 | 21 | -0.1% | -2.8% to +1.2% | 48% | -1.1% to +1.1% | 0.0% |
| Day +9 | 21 | -0.1% | -2.6% to +0.6% | 43% | -0.9% to +0.3% | 0.0% |
| Day +10 | 21 | +0.0% | -2.4% to +1.3% | 52% | -2.0% to +0.8% | 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 | 4% |
| Gamma max crosses | 10 |
| Delta neutral crosses | 5 |
| Prior-year sessions closer to gamma max | 99.2% of 252 |
| Prior-year sessions closer to delta neutral | 21.4% of 252 |
| Open interest percentile (1y) | 28th |
| Daily open interest change versus prior year | -0.35σ (-9,073 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +9.2% |
| Open interest change, 21 sessions | -2.5% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 82.31 vs 82.40 (-0.1%)
- closed above delta neutral at 82.93 vs 82.60 (+0.4%)
- closed below delta neutral at 81.84 vs 82.96 (-1.4%)
- closed above delta neutral at 85.42 vs 84.31 (+1.3%)
- closed below delta neutral at 83.65 vs 83.95 (-0.4%)
- closed below gamma max at 95.11 vs 95.50 (-0.4%)
- closed above gamma max at 95.68 vs 95.21 (+0.5%)
- closed below gamma max at 92.71 vs 92.75 (-0.0%)
- closed above gamma max at 91.93 vs 91.92 (+0.0%)
- closed below gamma max at 84.53 vs 86.95 (-2.9%)
In today's screens
Neighbours by open interest
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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/NEE
Questions people ask about NEE
Where is NEE's gamma max today?
As of Oct 2, 2026, the gamma max for NEE is 92.07, +19.8% from the 76.83 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 NEE above or below its delta neutral price?
NEE closed below delta neutral: 76.83 against a delta neutral price of 78.82. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does NEE have?
454,572 contracts of open interest across 567 listed contracts on Oct 2, 2026, -2.0% 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.