ORBS max pain, gamma exposure (GEX) & options open interest
As of close · rank #469 by open interest · 194 sessions of history since Oct 2, 2025
ORBS's nearest-expiration max pain is 1.00 for 2026-10-09, net GEX is 5,226,350, its put/call open-interest ratio is 0.30. 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 -44.6 pp
ORBS closed 18.3% above its gamma max of 0.95. It is 35.2% above the delta neutral price of 0.75. Total open interest is 161,205, -10.6% versus the previous session. Its options catalyst-intensity score is 62.3 out of 100, led by 25Δ risk reversal -44.6 pp. 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 | -18,819 contracts · -13.2% |
| Put OI change, 1 session | -333 contracts · -0.9% |
| Call minus put OI growth, 1 session | -12.3 pp |
| Call OI change, 5 sessions | -9,765 contracts · -7.3% |
| Put OI change, 5 sessions | +1,418 contracts · +4.0% |
| Call minus put OI growth, 5 sessions | -11.3 pp |
| Daily call OI change surprise | — (179 prior changes) |
| Daily put OI change surprise | — (179 prior changes) |
| Daily call-minus-put growth surprise | — (178 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 above gamma max 4 completed Day +10 paths · latest Sep 18, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 4 | -2.9% | -7.5% to +2.7% | 50% | – | – |
| Day +2 | 4 | +4.8% | -6.7% to +13.8% | 50% | – | – |
| Day +3 | 4 | +1.5% | -3.3% to +3.3% | 75% | – | – |
| Day +4 | 4 | -2.1% | -6.8% to +0.7% | 25% | – | – |
| Day +5 | 4 | -2.8% | -10.8% to +2.7% | 50% | – | – |
| Day +6 | 4 | -3.7% | -8.1% to +1.7% | 25% | – | – |
| Day +7 | 4 | -4.9% | -12.9% to +4.5% | 50% | – | – |
| Day +8 | 4 | -8.3% | -14.7% to +1.2% | 25% | – | – |
| Day +9 | 4 | -4.1% | -10.1% to +0.9% | 25% | – | – |
| Day +10 | 4 | +1.0% | -10.4% to +8.3% | 50% | – | – |
Crosses below gamma max 6 completed Day +10 paths · latest Sep 14, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 6 | -2.3% | -8.6% to +3.4% | 33% | -31.6% to +26.2% | 0.0% |
| Day +2 | 6 | -1.7% | -11.2% to +12.2% | 50% | -36.5% to +15.5% | 0.0% |
| Day +3 | 6 | -5.9% | -6.9% to +1.6% | 33% | -36.1% to +7.6% | 0.0% |
| Day +4 | 6 | +4.1% | -2.3% to +8.6% | 67% | -33.6% to +35.7% | 0.0% |
| Day +5 | 6 | +3.5% | -2.3% to +8.9% | 67% | -31.8% to +23.8% | 0.0% |
| Day +6 | 6 | -3.8% | -8.6% to +8.0% | 33% | -34.3% to +22.5% | 0.0% |
| Day +7 | 6 | -6.9% | -9.2% to +6.7% | 33% | -36.1% to +15.9% | 0.0% |
| Day +8 | 6 | +4.1% | -2.0% to +10.7% | 67% | -33.0% to +13.7% | 0.0% |
| Day +9 | 6 | +8.6% | -4.4% to +15.0% | 67% | -33.7% to +19.4% | 0.0% |
| Day +10 | 6 | +4.9% | -2.6% to +14.8% | 50% | -5.9% to +21.5% | 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 194 sessions
| Sessions closed above gamma max | 38% |
| Gamma max crosses | 33 |
| Delta neutral crosses | 14 |
| Prior-year sessions closer to gamma max | 45.5% of 191 |
| Prior-year sessions closer to delta neutral | 60.7% of 191 |
| Open interest percentile (1y) | 89th |
| Daily open interest change versus prior year | – (-19,152 contracts; 192 prior changes) |
| Open interest change, 5 sessions | -4.9% |
| Open interest change, 21 sessions | +25.9% |
| History available | Oct 2, 2025 → Oct 2, 2026 |
Recent crosses
- closed above gamma max at 1.04 vs 0.95 (+8.9%)
- closed below gamma max at 0.96 vs 0.98 (-2.5%)
- closed above gamma max at 1.14 vs 0.93 (+18.3%)
- closed below gamma max at 0.90 vs 0.93 (-3.0%)
- closed above gamma max at 0.97 vs 0.97 (+0.2%)
- closed below gamma max at 0.84 vs 0.89 (-5.6%)
- closed above gamma max at 0.60 vs 0.50 (+17.2%)
- closed below gamma max at 0.58 vs 0.64 (-11.1%)
- closed above gamma max at 0.62 vs 0.50 (+19.7%)
- closed below gamma max at 0.91 vs 0.96 (-5.4%)
In today's 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/ORBS
Questions people ask about ORBS
Where is ORBS's gamma max today?
As of Oct 2, 2026, the gamma max for ORBS is 0.95, -18.3% from the 1.16 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 ORBS above or below its delta neutral price?
ORBS closed above delta neutral: 1.16 against a delta neutral price of 0.75. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does ORBS have?
161,205 contracts of open interest across 81 listed contracts on Oct 2, 2026, -10.6% 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.