# NVS: options-positioning snapshot

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

| Published field | Value |
| --- | --- |
| Close (USD/share) | 141.00 |
| Delta neutral (USD/share) | 154.23 |
| Gamma neutral (USD/share) | 175.10 |
| Gamma max (USD/share) | 198.07 |
| Open interest (contracts) | 118,693 |
| Nearest-expiration max pain (USD/share) | 150.00 (2026-10-16) |
| All-expiration max pain (USD/share) | 155.00 |
| Net gamma exposure | -12,169,033 |
| Confirmed GEX flip (USD/share) | 175.10 |
| Call wall (USD/share) | 145.00 |
| Put wall (USD/share) | 140.00 |
| Put/call open-interest ratio | 2.11 |
| Options catalyst-intensity score (0–100) | 31.8 |
| Options directional score (-100 to +100) | -30.9 |
| IV rank | 15.3 |
| Front ATM IV | +24.1% |
| Front-minus-back IV | -1.6 pp |
| Front expected move | +4.7% |
| Front ATM straddle / spot | +3.6% |
| Front 25-delta risk reversal | 1.4 pp |
| Call OI change, 1 session | +418 contracts · +1.1% |
| Put OI change, 1 session | -588 contracts · -0.7% |
| Call minus put OI growth, 1 session | +1.8 pp |
| Call OI change, 5 sessions | +801 contracts · +2.1% |
| Put OI change, 5 sessions | +1,317 contracts · +1.7% |
| Call minus put OI growth, 5 sessions | +0.5 pp |
| Daily call OI change surprise | +0.17σ (252 prior changes) |
| Daily put OI change surprise | -0.33σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.42σ (252 prior changes) |
| Daily open interest change (contracts) | -170 |
| Daily open interest change z-score (prior 252) | -0.10σ (252 prior changes) |
| Gamma max distance from close | +40.5% |
| Delta neutral distance from close | +9.4% |
| Prior-year sessions closer to gamma max | 84.9% of 252 |
| Prior-year sessions closer to delta neutral | 95.6% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 37 | +0.3% | -0.2% to +0.6% | 57% | -0.1% to +0.5% | 0.0% |
| above | Day +3 | 37 | +0.2% | -0.9% to +1.4% | 51% | -0.4% to +0.6% | 0.0% |
| above | Day +5 | 37 | +0.7% | -0.7% to +2.5% | 68% | +0.2% to +1.7% | +0.2% |
| above | Day +10 | 37 | +1.6% | -1.4% to +3.4% | 51% | -0.8% to +2.8% | 0.0% |
| below | Day +1 | 35 | -0.1% | -0.6% to +0.6% | 43% | -0.4% to +0.3% | 0.0% |
| below | Day +3 | 35 | +0.8% | -0.7% to +1.6% | 60% | -0.4% to +1.1% | 0.0% |
| below | Day +5 | 35 | +0.3% | -1.3% to +2.3% | 51% | -0.8% to +1.9% | 0.0% |
| below | Day +10 | 35 | +0.4% | -2.2% to +3.6% | 51% | -0.9% to +2.3% | 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/NVS.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/NVS.csv)
- [Complete advanced analysis](https://halfonadouble.com/api/v1/analysis/NVS.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).