NVTS max pain, gamma exposure (GEX) & options open interest
As of close · rank #210 by open interest · 1,111 sessions of history since Nov 11, 2021
NVTS's nearest-expiration max pain is 11.50 for 2026-10-09, its GEX flip is 4.50, net GEX is 16,349,087, its put/call open-interest ratio is 0.37. 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 0.15 · 7d expected move +11.0% · IV rank 91
NVTS closed 10.9% below its gamma max of 13.76. It is 17.5% above the delta neutral price of 10.23. Total open interest is 479,969, -7.7% versus the previous session. Its options catalyst-intensity score is 46.9 out of 100, led by volume/OI 0.15, 7d expected move +11.0%, IV rank 91. 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 | -29,542 contracts · -7.8% |
| Put OI change, 1 session | -10,663 contracts · -7.6% |
| Call minus put OI growth, 1 session | -0.2 pp |
| Call OI change, 5 sessions | +15,015 contracts · +4.5% |
| Put OI change, 5 sessions | +16,193 contracts · +14.3% |
| Call minus put OI growth, 5 sessions | -9.8 pp |
| Daily call OI change surprise | -1.34σ (252 prior changes) |
| Daily put OI change surprise | -0.92σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.04σ (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 46 completed Day +10 paths · latest May 26, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 46 | +0.0% | -3.2% to +3.7% | 50% | -1.9% to +1.3% | 0.0% |
| Day +2 | 46 | -0.8% | -5.7% to +4.5% | 46% | -4.7% to +2.8% | 0.0% |
| Day +3 | 46 | -1.3% | -9.2% to +4.6% | 39% | -6.4% to +0.7% | 0.0% |
| Day +4 | 46 | -0.7% | -8.5% to +7.1% | 48% | -5.3% to +4.5% | 0.0% |
| Day +5 | 46 | +1.0% | -9.2% to +8.6% | 52% | -5.8% to +4.9% | 0.0% |
| Day +6 | 46 | +2.5% | -8.5% to +8.7% | 54% | -5.1% to +6.6% | 0.0% |
| Day +7 | 46 | +2.2% | -9.6% to +10.6% | 52% | -6.9% to +7.2% | 0.0% |
| Day +8 | 46 | +1.6% | -7.6% to +13.6% | 52% | -6.3% to +7.2% | 0.0% |
| Day +9 | 46 | +3.7% | -9.8% to +13.5% | 57% | -5.0% to +8.5% | 0.0% |
| Day +10 | 46 | +2.2% | -10.5% to +10.9% | 59% | -3.8% to +6.4% | 0.0% |
Crosses above gamma max 38 completed Day +10 paths · latest May 21, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 38 | -1.0% | -4.5% to +2.3% | 39% | -3.6% to +1.5% | 0.0% |
| Day +2 | 38 | -1.6% | -5.7% to +2.7% | 39% | -4.6% to +1.0% | 0.0% |
| Day +3 | 38 | -1.4% | -5.7% to +3.9% | 45% | -3.1% to +1.6% | 0.0% |
| Day +4 | 38 | -0.7% | -6.7% to +2.1% | 47% | -5.6% to +1.2% | 0.0% |
| Day +5 | 38 | -2.0% | -8.8% to +4.5% | 42% | -7.3% to +1.8% | 0.0% |
| Day +6 | 38 | -0.3% | -8.6% to +4.0% | 47% | -2.8% to +2.6% | 0.0% |
| Day +7 | 38 | -0.1% | -9.6% to +5.9% | 50% | -6.6% to +3.2% | 0.0% |
| Day +8 | 38 | +3.1% | -10.0% to +9.3% | 55% | -4.0% to +6.0% | 0.0% |
| Day +9 | 38 | +1.4% | -11.7% to +17.3% | 55% | -7.3% to +5.2% | 0.0% |
| Day +10 | 38 | +1.2% | -7.8% to +12.4% | 55% | -4.3% to +4.9% | 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 | 10% |
| Gamma max crosses | 25 |
| Delta neutral crosses | 6 |
| Prior-year sessions closer to gamma max | 36.5% of 252 |
| Prior-year sessions closer to delta neutral | 30.2% of 252 |
| Open interest percentile (1y) | 67th |
| Daily open interest change versus prior year | -1.23σ (-40,205 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +7.0% |
| Open interest change, 21 sessions | -12.1% |
| History available | Nov 11, 2021 → Oct 2, 2026 |
Recent crosses
- closed above delta neutral at 9.73 vs 9.42 (+3.3%)
- closed below delta neutral at 10.01 vs 10.05 (-0.4%)
- closed above delta neutral at 13.27 vs 12.92 (+2.7%)
- closed below delta neutral at 13.47 vs 13.49 (-0.1%)
- closed above delta neutral at 14.18 vs 13.94 (+1.7%)
- closed below delta neutral at 13.99 vs 14.23 (-1.7%)
- closed below gamma max at 31.79 vs 34.14 (-7.4%)
- closed above gamma max at 24.38 vs 24.19 (+0.8%)
- closed below gamma max at 22.32 vs 22.65 (-1.5%)
- closed above gamma max at 18.20 vs 17.93 (+1.5%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/NVTS
Questions people ask about NVTS
Where is NVTS's gamma max today?
As of Oct 2, 2026, the gamma max for NVTS is 13.76, +10.9% from the 12.40 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 NVTS above or below its delta neutral price?
NVTS closed above delta neutral: 12.40 against a delta neutral price of 10.23. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does NVTS have?
479,969 contracts of open interest across 502 listed contracts on Oct 2, 2026, -7.7% 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.