# NEXT: options-positioning snapshot

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

| Published field | Value |
| --- | --- |
| Close (USD/share) | 6.48 |
| Delta neutral (USD/share) | 4.28 |
| Gamma neutral (USD/share) | 6.48 |
| Gamma max (USD/share) | 6.87 |
| Open interest (contracts) | 202,884 |
| Nearest-expiration max pain (USD/share) | 7.00 (2026-10-16) |
| All-expiration max pain (USD/share) | 7.00 |
| Net gamma exposure | 14,161,458 |
| Call wall (USD/share) | 7.00 |
| Put wall (USD/share) | 7.00 |
| Put/call open-interest ratio | 0.13 |
| Options catalyst-intensity score (0–100) | 33.4 |
| Options directional score (-100 to +100) | 32.0 |
| IV rank | 32.3 |
| Front ATM IV | – |
| Front-minus-back IV | – pp |
| Front expected move | – |
| Front ATM straddle / spot | – |
| Front 25-delta risk reversal | -3.9 pp |
| Call OI change, 1 session | +277 contracts · +0.2% |
| Put OI change, 1 session | +461 contracts · +2.1% |
| Call minus put OI growth, 1 session | -1.9 pp |
| Call OI change, 5 sessions | +8,068 contracts · +4.7% |
| Put OI change, 5 sessions | +376 contracts · +1.7% |
| Call minus put OI growth, 5 sessions | +3.0 pp |
| Daily call OI change surprise | +0.01σ (252 prior changes) |
| Daily put OI change surprise | +0.12σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.24σ (252 prior changes) |
| Daily open interest change (contracts) | 738 |
| Daily open interest change z-score (prior 252) | +0.04σ (252 prior changes) |
| Gamma max distance from close | +5.9% |
| Delta neutral distance from close | -34.0% |
| Prior-year sessions closer to gamma max | 23.4% of 252 |
| Prior-year sessions closer to delta neutral | 52.4% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 34 | -0.2% | -2.0% to +2.3% | 47% | -1.6% to +0.8% | 0.0% |
| above | Day +3 | 34 | +0.9% | -4.5% to +3.8% | 56% | -2.6% to +2.7% | 0.0% |
| above | Day +5 | 34 | +0.6% | -5.3% to +4.0% | 59% | -1.9% to +2.0% | 0.0% |
| above | Day +10 | 33 | +1.2% | -5.6% to +6.4% | 55% | -2.7% to +5.6% | 0.0% |
| below | Day +1 | 35 | 0.0% | -1.4% to +1.9% | 49% | -1.1% to +0.6% | 0.0% |
| below | Day +3 | 35 | -1.1% | -5.0% to +2.9% | 46% | -3.8% to +0.9% | 0.0% |
| below | Day +5 | 35 | -0.8% | -6.3% to +5.2% | 46% | -3.4% to +3.1% | 0.0% |
| below | Day +10 | 33 | +2.2% | -6.3% to +9.6% | 52% | -5.3% to +8.9% | 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/NEXT.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/NEXT.csv)
- [Complete advanced analysis](https://halfonadouble.com/api/v1/analysis/NEXT.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).