P max pain, gamma exposure (GEX) & options open interest
As of close · rank #535 by open interest · 117 sessions of history since Apr 17, 2026
P's nearest-expiration max pain is 110.00 for 2026-10-16, its GEX flip is 114.11, net GEX is 3,577,992, its put/call open-interest ratio is 0.76. 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: 14d expected move +11.9% · volume/OI 0.09
P closed 1.6% below its gamma max of 142.38. It is 22.0% above the delta neutral price of 109.35. Total open interest is 132,413, +0.9% versus the previous session. Its options catalyst-intensity score is 42.1 out of 100, led by 14d expected move +11.9%, volume/OI 0.09. 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 | +879 contracts · +1.2% |
| Put OI change, 1 session | +343 contracts · +0.6% |
| Call minus put OI growth, 1 session | +0.6 pp |
| Call OI change, 5 sessions | +3,141 contracts · +4.4% |
| Put OI change, 5 sessions | +3,604 contracts · +6.7% |
| Call minus put OI growth, 5 sessions | -2.3 pp |
| Daily call OI change surprise | — (115 prior changes) |
| Daily put OI change surprise | — (115 prior changes) |
| Daily call-minus-put growth surprise | — (115 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 2 completed Day +10 paths · latest Sep 25, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 3 | +1.6% | -0.1% to +2.1% | 67% | – | – |
| Day +2 | 3 | +0.2% | -1.5% to +1.7% | 67% | – | – |
| Day +3 | 3 | -2.5% | -6.4% to +0.7% | 33% | – | – |
| Day +4 | 3 | -7.6% | -8.0% to -0.6% | 33% | – | – |
| Day +5 | 3 | -3.0% | -6.1% to +4.1% | 33% | – | – |
| Day +6 | 2 | -8.9% | -10.2% to -7.7% | 0% | – | – |
| Day +7 | 2 | -10.9% | -13.8% to -8.0% | 0% | – | – |
| Day +8 | 2 | -6.2% | -11.6% to -0.7% | 50% | – | – |
| Day +9 | 2 | -5.1% | -10.7% to +0.5% | 50% | – | – |
| Day +10 | 2 | -7.2% | -12.3% to -2.1% | 50% | – | – |
Crosses above gamma max 2 completed Day +10 paths · latest Sep 24, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 3 | +3.4% | -0.4% to +7.5% | 67% | – | – |
| Day +2 | 3 | +6.2% | +1.8% to +9.9% | 67% | – | – |
| Day +3 | 3 | +6.7% | +1.3% to +13.2% | 67% | – | – |
| Day +4 | 3 | +7.3% | +0.4% to +14.0% | 67% | – | – |
| Day +5 | 3 | +10.0% | -0.7% to +14.7% | 67% | – | – |
| Day +6 | 3 | +15.0% | +1.0% to +17.3% | 67% | – | – |
| Day +7 | 2 | +2.0% | -4.2% to +8.2% | 50% | – | – |
| Day +8 | 2 | +1.6% | -3.7% to +7.0% | 50% | – | – |
| Day +9 | 2 | +5.6% | +2.9% to +8.2% | 100% | – | – |
| Day +10 | 2 | +2.1% | +1.9% to +2.3% | 100% | – | – |
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 117 sessions
| Sessions closed above gamma max | 8% |
| Gamma max crosses | 6 |
| Delta neutral crosses | 0 |
| Prior-year sessions closer to gamma max | 2.6% of 116 |
| Prior-year sessions closer to delta neutral | 70.7% of 116 |
| Open interest percentile (1y) | 87th |
| Daily open interest change versus prior year | – (1,222 contracts; 115 prior changes) |
| Open interest change, 5 sessions | +5.4% |
| Open interest change, 21 sessions | +12.5% |
| History available | Apr 17, 2026 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 126.00 vs 133.58 (-6.0%)
- closed above gamma max at 121.88 vs 121.81 (+0.1%)
- closed below gamma max at 112.07 vs 115.44 (-3.0%)
- closed above gamma max at 97.98 vs 95.51 (+2.5%)
- closed below gamma max at 83.29 vs 88.21 (-5.9%)
- closed above gamma max at 86.93 vs 83.48 (+4.0%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/P
Questions people ask about P
Where is P's gamma max today?
As of Oct 2, 2026, the gamma max for P is 142.38, +1.6% from the 140.14 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 P above or below its delta neutral price?
P closed above delta neutral: 140.14 against a delta neutral price of 109.35. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does P have?
132,413 contracts of open interest across 326 listed contracts on Oct 2, 2026, +0.9% 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.