NXE max pain, gamma exposure (GEX) & options open interest
As of close · rank #402 by open interest · 1,292 sessions of history since Mar 8, 2021
NXE's nearest-expiration max pain is 10.00 for 2026-10-16, its GEX flip is 9.30, net GEX is -965,156, its put/call open-interest ratio is 0.63. 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: 25Δ risk reversal -171.1 pp · OI change 0.04σ · 14d expected move +9.8%
NXE closed 35.5% below its gamma max of 12.19. It is 0.7% below the delta neutral price of 9.07. Total open interest is 201,439, +0.2% versus the previous session. Its options catalyst-intensity score is 47.9 out of 100, led by 25Δ risk reversal -171.1 pp, OI change 0.04σ, 14d 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 | +271 contracts · +0.2% |
| Put OI change, 1 session | +114 contracts · +0.1% |
| Call minus put OI growth, 1 session | +0.1 pp |
| Call OI change, 5 sessions | +8,099 contracts · +7.0% |
| Put OI change, 5 sessions | +2,213 contracts · +2.9% |
| Call minus put OI growth, 5 sessions | +4.1 pp |
| Daily call OI change surprise | +0.05σ (252 prior changes) |
| Daily put OI change surprise | +0.03σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.08σ (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 50 completed Day +10 paths · latest Mar 9, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 50 | +0.2% | -1.6% to +2.0% | 54% | -0.6% to +1.1% | 0.0% |
| Day +2 | 50 | -0.6% | -3.7% to +1.2% | 38% | -2.2% to +0.1% | 0.0% |
| Day +3 | 50 | -2.2% | -4.9% to +1.8% | 32% | -3.5% to -0.9% | -0.9% |
| Day +4 | 50 | -0.9% | -5.4% to +4.3% | 46% | -3.9% to +2.6% | 0.0% |
| Day +5 | 50 | -0.7% | -5.3% to +5.6% | 48% | -3.3% to +3.2% | 0.0% |
| Day +6 | 50 | -1.5% | -5.0% to +3.2% | 42% | -3.5% to +0.4% | 0.0% |
| Day +7 | 50 | -2.4% | -7.0% to +4.0% | 40% | -4.3% to +1.3% | 0.0% |
| Day +8 | 50 | -1.6% | -7.7% to +3.9% | 42% | -3.7% to +0.7% | 0.0% |
| Day +9 | 50 | -2.4% | -8.0% to +6.0% | 36% | -4.7% to 0.0% | 0.0% |
| Day +10 | 50 | -2.0% | -7.9% to +5.5% | 36% | -5.4% to -0.2% | -0.2% |
Crosses above gamma max 47 completed Day +10 paths · latest Mar 5, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 47 | -1.3% | -2.7% to +1.6% | 38% | -1.5% to +0.2% | 0.0% |
| Day +2 | 47 | -1.1% | -4.5% to +2.5% | 40% | -3.8% to +0.3% | 0.0% |
| Day +3 | 47 | -1.9% | -5.0% to +3.8% | 34% | -3.4% to -0.9% | -0.9% |
| Day +4 | 47 | -3.2% | -5.6% to +2.0% | 34% | -4.1% to -1.0% | -1.0% |
| Day +5 | 47 | -3.1% | -6.5% to +1.7% | 43% | -5.3% to +0.5% | 0.0% |
| Day +6 | 47 | -2.5% | -8.1% to +3.4% | 36% | -5.3% to -0.1% | -0.1% |
| Day +7 | 47 | -3.9% | -9.1% to +3.2% | 38% | -6.3% to +0.8% | 0.0% |
| Day +8 | 47 | -4.7% | -10.0% to +5.3% | 34% | -5.6% to -0.7% | -0.7% |
| Day +9 | 47 | -1.3% | -8.1% to +7.6% | 43% | -5.2% to +0.8% | 0.0% |
| Day +10 | 47 | -3.7% | -9.0% to +7.3% | 40% | -6.3% to +3.1% | 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 | 14% |
| Gamma max crosses | 16 |
| Delta neutral crosses | 13 |
| Prior-year sessions closer to gamma max | 88.5% of 252 |
| Prior-year sessions closer to delta neutral | 3.2% of 252 |
| Open interest percentile (1y) | 12th |
| Daily open interest change versus prior year | +0.04σ (385 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +5.4% |
| Open interest change, 21 sessions | -14.0% |
| History available | Mar 8, 2021 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 8.87 vs 8.94 (-0.8%)
- closed above delta neutral at 9.12 vs 8.92 (+2.2%)
- closed below delta neutral at 9.19 vs 9.27 (-0.8%)
- closed above delta neutral at 9.35 vs 9.15 (+2.2%)
- closed below delta neutral at 9.47 vs 9.50 (-0.3%)
- closed above delta neutral at 9.57 vs 9.27 (+3.1%)
- closed below delta neutral at 9.09 vs 9.68 (-6.5%)
- closed above delta neutral at 9.68 vs 9.65 (+0.3%)
- closed below delta neutral at 9.39 vs 9.63 (-2.6%)
- closed above delta neutral at 9.75 vs 9.68 (+0.7%)
In today's screens
Neighbours by open interest
Cite or embed this snapshot
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Canonical source: https://halfonadouble.com/stock/NXE
Questions people ask about NXE
Where is NXE's gamma max today?
As of Oct 2, 2026, the gamma max for NXE is 12.19, +35.5% from the 9.00 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 NXE above or below its delta neutral price?
NXE closed below delta neutral: 9.00 against a delta neutral price of 9.07. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does NXE have?
201,439 contracts of open interest across 178 listed contracts on Oct 2, 2026, +0.2% 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.