OUST max pain, gamma exposure (GEX) & options open interest
As of close · rank #604 by open interest · 1,026 sessions of history since Mar 12, 2021
OUST's nearest-expiration max pain is 39.00 for 2026-10-09, its GEX flip is 31.54, net GEX is 3,892,567, its put/call open-interest ratio is 0.44. 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: 7d expected move +12.2% · smile convexity -12.8 pp · 25Δ risk reversal 13.8 pp
OUST closed 0.9% below its gamma max of 44.78. It is 25.8% above the delta neutral price of 32.92. Total open interest is 108,177, -6.2% versus the previous session. Its options catalyst-intensity score is 56.2 out of 100, led by 7d expected move +12.2%, smile convexity -12.8 pp, 25Δ risk reversal 13.8 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 | -4,456 contracts · -5.6% |
| Put OI change, 1 session | -2,695 contracts · -7.6% |
| Call minus put OI growth, 1 session | +2.0 pp |
| Call OI change, 5 sessions | -1,257 contracts · -1.6% |
| Put OI change, 5 sessions | +162 contracts · +0.5% |
| Call minus put OI growth, 5 sessions | -2.1 pp |
| Daily call OI change surprise | -0.99σ (252 prior changes) |
| Daily put OI change surprise | -1.06σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.38σ (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 26 completed Day +10 paths · latest Sep 28, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 27 | -1.9% | -4.7% to +4.3% | 41% | -3.7% to +2.9% | 0.0% |
| Day +2 | 27 | -1.7% | -4.9% to +8.5% | 44% | -3.9% to +2.4% | 0.0% |
| Day +3 | 27 | -2.2% | -8.1% to +6.6% | 37% | -6.3% to +1.1% | 0.0% |
| Day +4 | 27 | -1.7% | -8.5% to +7.8% | 44% | -7.5% to +4.4% | 0.0% |
| Day +5 | 26 | -2.7% | -7.4% to +11.1% | 46% | -6.0% to +4.6% | 0.0% |
| Day +6 | 26 | -2.1% | -10.7% to +9.7% | 50% | -9.1% to +7.2% | 0.0% |
| Day +7 | 26 | -1.5% | -9.4% to +10.9% | 50% | -8.2% to +6.6% | 0.0% |
| Day +8 | 26 | -3.1% | -13.0% to +7.7% | 38% | -9.0% to +6.6% | 0.0% |
| Day +9 | 26 | -4.2% | -14.6% to +11.0% | 46% | -10.9% to +8.6% | 0.0% |
| Day +10 | 26 | -6.8% | -15.5% to +9.0% | 35% | -14.4% to +5.0% | 0.0% |
Crosses above gamma max 25 completed Day +10 paths · latest Sep 24, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 26 | +0.4% | -4.3% to +1.9% | 54% | -4.0% to +1.5% | 0.0% |
| Day +2 | 26 | -2.4% | -9.4% to +3.9% | 38% | -7.2% to +2.0% | 0.0% |
| Day +3 | 26 | -5.2% | -10.7% to +2.2% | 27% | -10.3% to -2.1% | -2.1% |
| Day +4 | 26 | -3.5% | -12.8% to +3.8% | 42% | -10.5% to +2.7% | 0.0% |
| Day +5 | 26 | -5.5% | -13.8% to +4.5% | 35% | -12.8% to +2.1% | 0.0% |
| Day +6 | 26 | -3.7% | -15.3% to +4.5% | 31% | -11.2% to -0.2% | -0.2% |
| Day +7 | 25 | -5.9% | -19.0% to +7.8% | 40% | -17.1% to +4.2% | 0.0% |
| Day +8 | 25 | -6.1% | -16.6% to +6.3% | 36% | -14.4% to +4.2% | 0.0% |
| Day +9 | 25 | -10.0% | -19.6% to +7.1% | 32% | -18.7% to +5.6% | 0.0% |
| Day +10 | 25 | -10.3% | -28.3% to +4.1% | 36% | -22.5% to +3.7% | 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 | 8% |
| Gamma max crosses | 26 |
| Delta neutral crosses | 0 |
| Prior-year sessions closer to gamma max | 3.2% of 252 |
| Prior-year sessions closer to delta neutral | 60.3% of 252 |
| Open interest percentile (1y) | 80th |
| Daily open interest change versus prior year | -1.05σ (-7,151 contracts; 252 prior changes) |
| Open interest change, 5 sessions | -1.0% |
| Open interest change, 21 sessions | -6.3% |
| History available | Mar 12, 2021 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 40.90 vs 43.00 (-5.1%)
- closed above gamma max at 41.37 vs 40.73 (+1.6%)
- closed below gamma max at 60.02 vs 61.56 (-2.6%)
- closed above gamma max at 62.52 vs 59.67 (+4.6%)
- closed below gamma max at 46.06 vs 46.28 (-0.5%)
- closed above gamma max at 46.05 vs 43.10 (+6.4%)
- closed below gamma max at 42.33 vs 44.29 (-4.6%)
- closed above gamma max at 37.05 vs 34.76 (+6.2%)
- closed below gamma max at 30.74 vs 34.67 (-12.8%)
- closed above gamma max at 34.17 vs 31.04 (+9.1%)
In today's screens
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Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/OUST
Questions people ask about OUST
Where is OUST's gamma max today?
As of Oct 2, 2026, the gamma max for OUST is 44.78, +0.9% from the 44.39 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 OUST above or below its delta neutral price?
OUST closed above delta neutral: 44.39 against a delta neutral price of 32.92. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does OUST have?
108,177 contracts of open interest across 489 listed contracts on Oct 2, 2026, -6.2% 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.