NFLX max pain, gamma exposure (GEX) & options open interest
As of close · rank #16 by open interest · 1,394 sessions of history since Dec 1, 2020
NFLX's nearest-expiration max pain is 70.00 for 2026-10-09, its GEX flip is 70.67, net GEX is -63,741,466, its put/call open-interest ratio is 0.89. 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 0.08
NFLX closed 32.6% below its gamma max of 88.93. It is 8.9% below the delta neutral price of 73.00. Total open interest is 4,925,475, -2.0% versus the previous session. Its options catalyst-intensity score is 29.8 out of 100, led by volume/OI 0.08. 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 | -64,622 contracts · -2.4% |
| Put OI change, 1 session | -37,379 contracts · -1.6% |
| Call minus put OI growth, 1 session | -0.8 pp |
| Call OI change, 5 sessions | +106,314 contracts · +4.3% |
| Put OI change, 5 sessions | +34,809 contracts · +1.5% |
| Call minus put OI growth, 5 sessions | +2.7 pp |
| Daily call OI change surprise | -0.27σ (252 prior changes) |
| Daily put OI change surprise | -0.17σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.17σ (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 10 completed Day +10 paths · latest Apr 10, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 10 | -0.3% | -1.0% to +1.1% | 50% | -1.4% to +1.3% | 0.0% |
| Day +2 | 10 | -1.1% | -2.0% to +1.6% | 30% | -2.6% to +3.1% | 0.0% |
| Day +3 | 10 | -0.7% | -2.5% to +1.5% | 40% | -2.9% to +4.5% | 0.0% |
| Day +4 | 10 | -1.2% | -2.2% to +3.6% | 40% | -4.7% to +4.9% | 0.0% |
| Day +5 | 10 | -1.3% | -3.5% to +3.0% | 40% | -5.6% to +3.7% | 0.0% |
| Day +6 | 10 | -0.8% | -3.5% to +5.0% | 40% | -8.0% to +7.6% | 0.0% |
| Day +7 | 10 | -1.1% | -2.7% to +6.1% | 40% | -7.0% to +8.2% | 0.0% |
| Day +8 | 10 | -0.6% | -5.4% to +3.4% | 40% | -5.5% to +10.3% | 0.0% |
| Day +9 | 10 | -0.2% | -5.8% to +4.5% | 40% | -7.0% to +9.6% | 0.0% |
| Day +10 | 10 | -1.4% | -4.1% to +5.0% | 40% | -4.8% to +10.4% | 0.0% |
Crosses above gamma max 7 completed Day +10 paths · latest Apr 9, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 7 | +0.7% | -0.1% to +1.1% | 57% | -1.6% to +1.3% | 0.0% |
| Day +2 | 7 | +1.0% | -1.0% to +1.6% | 57% | -2.2% to +2.5% | 0.0% |
| Day +3 | 7 | -0.3% | -1.2% to +1.7% | 43% | -4.1% to +4.1% | 0.0% |
| Day +4 | 7 | -1.2% | -1.7% to +3.8% | 43% | -2.9% to +5.5% | 0.0% |
| Day +5 | 7 | -0.7% | -2.4% to +5.3% | 43% | -4.8% to +6.3% | 0.0% |
| Day +6 | 7 | -0.8% | -2.6% to +2.7% | 43% | -4.7% to +7.9% | 0.0% |
| Day +7 | 7 | -0.2% | -2.9% to +6.1% | 43% | -7.1% to +9.5% | 0.0% |
| Day +8 | 7 | -1.0% | -2.1% to +7.9% | 43% | -9.3% to +9.6% | 0.0% |
| Day +9 | 7 | +0.5% | -4.7% to +7.1% | 57% | -8.7% to +11.0% | 0.0% |
| Day +10 | 7 | +0.7% | -5.1% to +7.2% | 57% | -9.1% to +12.7% | 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 | 0% |
| Gamma max crosses | 2 |
| Delta neutral crosses | 26 |
| Prior-year sessions closer to gamma max | 96.0% of 252 |
| Prior-year sessions closer to delta neutral | 90.5% of 252 |
| Open interest percentile (1y) | 17th |
| Daily open interest change versus prior year | -0.23σ (-102,001 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +2.9% |
| Open interest change, 21 sessions | -4.4% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 76.41 vs 76.79 (-0.5%)
- closed above delta neutral at 77.40 vs 76.93 (+0.6%)
- closed below delta neutral at 76.77 vs 77.28 (-0.7%)
- closed above delta neutral at 78.24 vs 75.07 (+4.1%)
- closed below delta neutral at 74.21 vs 74.67 (-0.6%)
- closed above delta neutral at 76.29 vs 75.01 (+1.7%)
- closed below delta neutral at 73.69 vs 74.17 (-0.6%)
- closed above delta neutral at 74.20 vs 74.17 (+0.0%)
- closed below delta neutral at 83.34 vs 85.32 (-2.4%)
- closed above delta neutral at 85.85 vs 85.77 (+0.1%)
In today's screens
Neighbours by open interest
Cite or embed this snapshot
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/NFLX
Questions people ask about NFLX
Where is NFLX's gamma max today?
As of Oct 2, 2026, the gamma max for NFLX is 88.93, +32.6% from the 67.06 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 NFLX above or below its delta neutral price?
NFLX closed below delta neutral: 67.06 against a delta neutral price of 73.00. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does NFLX have?
4,925,475 contracts of open interest across 2,068 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.