ON max pain, gamma exposure (GEX) & options open interest
As of close · rank #307 by open interest · 1,394 sessions of history since Dec 1, 2020
ON's nearest-expiration max pain is 74.00 for 2026-10-09, its GEX flip is 66.18, net GEX is 13,725,508, 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: volume/OI 0.15 · IV rank 92
ON closed 5.2% above its gamma max of 80.44. It is 14.7% above the delta neutral price of 72.37. Total open interest is 289,051, -2.3% versus the previous session. Its options catalyst-intensity score is 55.0 out of 100, led by volume/OI 0.15, IV rank 92. 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 | -3,808 contracts · -2.1% |
| Put OI change, 1 session | -3,080 contracts · -2.7% |
| Call minus put OI growth, 1 session | +0.6 pp |
| Call OI change, 5 sessions | +11,770 contracts · +7.1% |
| Put OI change, 5 sessions | +2,213 contracts · +2.0% |
| Call minus put OI growth, 5 sessions | +5.1 pp |
| Daily call OI change surprise | -0.42σ (252 prior changes) |
| Daily put OI change surprise | -0.27σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.04σ (252 prior changes) |
History
Hover for valuesDrag to panScroll to zoomClick a series to hide it ← → step a session+ − zoomTouch: swipe to pan, pinch to zoom, hold for the crosshair
Analysis visualizations
Derived from the 2026-10-02 options chain. Select an analysis to explore its chart.
No matching visualizations.
Gamma walls
Chart loads when this section is in view.
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 above gamma max 30 completed Day +10 paths · latest Sep 30, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 32 | +0.4% | -1.3% to +2.1% | 59% | -0.9% to +1.5% | 0.0% |
| Day +2 | 32 | -0.4% | -2.4% to +2.3% | 47% | -2.1% to +2.1% | 0.0% |
| Day +3 | 31 | +0.1% | -3.9% to +3.0% | 55% | -2.0% to +2.6% | 0.0% |
| Day +4 | 31 | -0.8% | -4.8% to +5.3% | 39% | -3.6% to +4.5% | 0.0% |
| Day +5 | 31 | -0.9% | -4.7% to +5.4% | 48% | -3.8% to +3.2% | 0.0% |
| Day +6 | 31 | -0.0% | -4.2% to +5.4% | 48% | -2.6% to +4.1% | 0.0% |
| Day +7 | 30 | +0.3% | -3.9% to +4.2% | 53% | -2.0% to +2.7% | 0.0% |
| Day +8 | 30 | +0.5% | -2.3% to +6.3% | 53% | -2.0% to +4.7% | 0.0% |
| Day +9 | 30 | -0.9% | -3.6% to +5.8% | 47% | -2.7% to +2.9% | 0.0% |
| Day +10 | 30 | +2.4% | -2.7% to +7.4% | 57% | -1.0% to +3.6% | 0.0% |
Crosses below gamma max 31 completed Day +10 paths · latest Sep 28, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 32 | +0.3% | -1.5% to +2.2% | 53% | -0.8% to +1.4% | 0.0% |
| Day +2 | 32 | -0.6% | -2.5% to +2.6% | 47% | -2.0% to +1.6% | 0.0% |
| Day +3 | 32 | -0.8% | -3.2% to +3.1% | 44% | -2.6% to +2.2% | 0.0% |
| Day +4 | 32 | -0.3% | -2.1% to +3.4% | 41% | -1.8% to +1.9% | 0.0% |
| Day +5 | 31 | +0.8% | -2.1% to +3.2% | 55% | -1.9% to +1.6% | 0.0% |
| Day +6 | 31 | +1.2% | -2.2% to +5.0% | 61% | -0.5% to +3.8% | 0.0% |
| Day +7 | 31 | +0.4% | -2.7% to +5.8% | 52% | -1.8% to +4.3% | 0.0% |
| Day +8 | 31 | -0.8% | -4.1% to +7.2% | 45% | -3.1% to +5.7% | 0.0% |
| Day +9 | 31 | +2.2% | -3.8% to +6.5% | 61% | -2.4% to +6.1% | 0.0% |
| Day +10 | 31 | +2.4% | -4.3% to +6.0% | 68% | +1.2% to +4.9% | +1.2% |
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 | 11% |
| Gamma max crosses | 21 |
| Delta neutral crosses | 41 |
| Prior-year sessions closer to gamma max | 29.4% of 252 |
| Prior-year sessions closer to delta neutral | 86.1% of 252 |
| Open interest percentile (1y) | 79th |
| Daily open interest change versus prior year | -0.36σ (-6,888 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +5.1% |
| Open interest change, 21 sessions | -4.0% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed above gamma max at 76.87 vs 76.07 (+1.0%)
- closed below gamma max at 75.65 vs 76.70 (-1.4%)
- closed above gamma max at 73.20 vs 73.02 (+0.2%)
- closed above delta neutral at 71.72 vs 70.66 (+1.5%)
- closed below delta neutral at 66.60 vs 71.43 (-7.3%)
- closed above delta neutral at 73.20 vs 72.80 (+0.5%)
- closed below delta neutral at 71.65 vs 72.80 (-1.6%)
- closed above delta neutral at 76.14 vs 74.57 (+2.1%)
- closed below delta neutral at 79.42 vs 82.86 (-4.3%)
- closed above delta neutral at 83.38 vs 82.49 (+1.1%)
In today's screens
Not in any screen today. See all 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/ON
Questions people ask about ON
Where is ON's gamma max today?
As of Oct 2, 2026, the gamma max for ON is 80.44, -5.2% from the 84.89 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 ON above or below its delta neutral price?
ON closed above delta neutral: 84.89 against a delta neutral price of 72.37. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does ON have?
289,051 contracts of open interest across 763 listed contracts on Oct 2, 2026, -2.3% 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.