NU max pain, gamma exposure (GEX) & options open interest
As of close · rank #51 by open interest · 1,131 sessions of history since Dec 16, 2021
NU's nearest-expiration max pain is 13.00 for 2026-10-09, its GEX flip is 11.42, net GEX is 84,054,541, its put/call open-interest ratio is 0.52. 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: front IV premium 13.0 pp · 25Δ risk reversal -174.3 pp · 7d expected move +9.8%
NU closed 11.7% below its gamma max of 15.00. It is 5.3% above the delta neutral price of 12.72. Total open interest is 2,144,632, -1.4% versus the previous session. Its options catalyst-intensity score is 70.7 out of 100, led by front IV premium 13.0 pp, 25Δ risk reversal -174.3 pp, 7d expected move +9.8%. 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 | -28,460 contracts · -2.0% |
| Put OI change, 1 session | -1,950 contracts · -0.3% |
| Call minus put OI growth, 1 session | -1.7 pp |
| Call OI change, 5 sessions | +249,515 contracts · +21.5% |
| Put OI change, 5 sessions | +45,569 contracts · +6.6% |
| Call minus put OI growth, 5 sessions | +14.9 pp |
| Daily call OI change surprise | -0.48σ (252 prior changes) |
| Daily put OI change surprise | -0.09σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.48σ (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 23 completed Day +10 paths · latest Aug 17, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 23 | -0.2% | -1.9% to +1.6% | 48% | -1.7% to +1.4% | 0.0% |
| Day +2 | 23 | +0.5% | -1.3% to +1.6% | 61% | -1.1% to +1.0% | 0.0% |
| Day +3 | 23 | +0.3% | -1.1% to +3.5% | 52% | -0.6% to +2.4% | 0.0% |
| Day +4 | 23 | +2.5% | -0.4% to +4.1% | 65% | -0.1% to +3.7% | 0.0% |
| Day +5 | 23 | +2.8% | +0.5% to +5.7% | 78% | +1.7% to +4.5% | +1.7% |
| Day +6 | 23 | +4.4% | +0.7% to +6.2% | 87% | +2.2% to +5.4% | +2.2% |
| Day +7 | 23 | +2.9% | -0.9% to +5.3% | 70% | +0.3% to +4.8% | +0.3% |
| Day +8 | 23 | +2.9% | -2.6% to +6.2% | 61% | -0.9% to +5.5% | 0.0% |
| Day +9 | 23 | +3.1% | -2.9% to +6.6% | 65% | -1.7% to +6.0% | 0.0% |
| Day +10 | 23 | +1.8% | -1.7% to +8.3% | 61% | -1.3% to +7.5% | 0.0% |
Crosses above gamma max 23 completed Day +10 paths · latest Jul 14, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 23 | -0.4% | -1.7% to +0.9% | 35% | -1.0% to +0.5% | 0.0% |
| Day +2 | 23 | -0.3% | -2.1% to +1.8% | 43% | -1.6% to +1.0% | 0.0% |
| Day +3 | 23 | +0.3% | -2.3% to +2.7% | 52% | -1.8% to +1.7% | 0.0% |
| Day +4 | 23 | +1.4% | -2.6% to +3.2% | 57% | -1.0% to +2.2% | 0.0% |
| Day +5 | 23 | +1.6% | -2.6% to +4.0% | 61% | -0.4% to +3.2% | 0.0% |
| Day +6 | 23 | +1.0% | -1.5% to +3.7% | 61% | -1.1% to +3.7% | 0.0% |
| Day +7 | 23 | +2.0% | -3.0% to +4.0% | 65% | -2.6% to +3.4% | 0.0% |
| Day +8 | 23 | +0.8% | -3.7% to +6.5% | 57% | -2.2% to +4.8% | 0.0% |
| Day +9 | 23 | +3.3% | -5.4% to +6.8% | 65% | -1.8% to +5.9% | 0.0% |
| Day +10 | 23 | +2.4% | -4.0% to +8.1% | 65% | -2.8% to +6.8% | 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 | 22 |
| Prior-year sessions closer to gamma max | 65.1% of 252 |
| Prior-year sessions closer to delta neutral | 33.7% of 252 |
| Open interest percentile (1y) | 100th |
| Daily open interest change versus prior year | -0.37σ (-30,410 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +16.0% |
| Open interest change, 21 sessions | +23.4% |
| History available | Dec 16, 2021 → Oct 2, 2026 |
Recent crosses
- closed above delta neutral at 13.29 vs 12.76 (+4.0%)
- closed below delta neutral at 12.23 vs 13.13 (-7.4%)
- closed below gamma max at 14.74 vs 15.11 (-2.5%)
- closed above gamma max at 15.23 vs 15.06 (+1.1%)
- closed below gamma max at 13.88 vs 14.03 (-1.1%)
- closed above gamma max at 13.99 vs 13.94 (+0.3%)
- closed above delta neutral at 11.88 vs 11.71 (+1.4%)
- closed below delta neutral at 11.60 vs 11.71 (-0.9%)
- closed above delta neutral at 12.12 vs 11.74 (+3.2%)
- closed below delta neutral at 13.13 vs 13.34 (-1.6%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/NU
Questions people ask about NU
Where is NU's gamma max today?
As of Oct 2, 2026, the gamma max for NU is 15.00, +11.7% from the 13.43 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 NU above or below its delta neutral price?
NU closed above delta neutral: 13.43 against a delta neutral price of 12.72. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does NU have?
2,144,632 contracts of open interest across 422 listed contracts on Oct 2, 2026, -1.4% 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.