PAAS max pain, gamma exposure (GEX) & options open interest
As of close · rank #341 by open interest · 1,394 sessions of history since Dec 1, 2020
PAAS's nearest-expiration max pain is 46.00 for 2026-10-09, its GEX flip is 11.46, net GEX is 6,805,741, its put/call open-interest ratio is 0.35. 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.
PAAS closed 19.7% below its gamma max of 54.49. It is 8.7% above the delta neutral price of 41.57. Total open interest is 253,357, -1.6% versus the previous session. Its options catalyst-intensity score is 56.0 out of 100. 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 | -2,601 contracts · -1.4% |
| Put OI change, 1 session | -1,456 contracts · -2.2% |
| Call minus put OI growth, 1 session | +0.8 pp |
| Call OI change, 5 sessions | +2,483 contracts · +1.3% |
| Put OI change, 5 sessions | -1,365 contracts · -2.1% |
| Call minus put OI growth, 5 sessions | +3.4 pp |
| Daily call OI change surprise | -0.26σ (252 prior changes) |
| Daily put OI change surprise | -0.23σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.24σ (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 33 completed Day +10 paths · latest Aug 6, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 33 | +0.5% | -1.0% to +2.4% | 55% | -0.6% to +2.1% | 0.0% |
| Day +2 | 33 | +0.5% | -0.3% to +3.2% | 64% | -0.1% to +1.7% | 0.0% |
| Day +3 | 33 | +0.3% | -2.0% to +2.9% | 61% | -1.1% to +2.2% | 0.0% |
| Day +4 | 33 | +1.2% | -2.1% to +4.9% | 55% | -1.2% to +2.4% | 0.0% |
| Day +5 | 33 | +0.3% | -2.5% to +6.3% | 55% | -1.2% to +2.8% | 0.0% |
| Day +6 | 33 | +0.2% | -5.0% to +3.5% | 55% | -1.3% to +2.1% | 0.0% |
| Day +7 | 33 | -0.5% | -4.6% to +4.7% | 48% | -2.0% to +2.3% | 0.0% |
| Day +8 | 33 | -0.1% | -4.2% to +3.9% | 48% | -1.9% to +3.0% | 0.0% |
| Day +9 | 33 | +0.6% | -3.2% to +5.6% | 58% | -1.1% to +4.6% | 0.0% |
| Day +10 | 33 | +0.5% | -7.6% to +6.7% | 55% | -2.2% to +4.2% | 0.0% |
Crosses above gamma max 34 completed Day +10 paths · latest Aug 5, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 34 | -0.3% | -1.3% to +1.7% | 41% | -1.2% to +0.5% | 0.0% |
| Day +2 | 34 | +0.3% | -2.0% to +2.0% | 53% | -1.8% to +1.6% | 0.0% |
| Day +3 | 34 | +0.6% | -1.4% to +3.3% | 56% | -1.1% to +2.6% | 0.0% |
| Day +4 | 34 | +0.8% | -2.7% to +4.0% | 53% | -1.9% to +3.0% | 0.0% |
| Day +5 | 34 | +0.0% | -2.5% to +2.9% | 50% | -1.7% to +2.5% | 0.0% |
| Day +6 | 34 | +0.3% | -2.6% to +4.4% | 56% | -2.1% to +2.8% | 0.0% |
| Day +7 | 34 | -0.2% | -4.7% to +4.4% | 50% | -2.5% to +3.4% | 0.0% |
| Day +8 | 34 | -0.6% | -5.3% to +3.6% | 41% | -2.5% to +1.7% | 0.0% |
| Day +9 | 34 | -1.6% | -4.4% to +4.8% | 44% | -3.2% to +3.3% | 0.0% |
| Day +10 | 34 | -0.7% | -3.6% to +5.8% | 47% | -3.3% to +2.0% | 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 | 6% |
| Gamma max crosses | 20 |
| Delta neutral crosses | 0 |
| Prior-year sessions closer to gamma max | 85.7% of 252 |
| Prior-year sessions closer to delta neutral | 7.1% of 252 |
| Open interest percentile (1y) | 16th |
| Daily open interest change versus prior year | -0.26σ (-4,057 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +0.4% |
| Open interest change, 21 sessions | -4.5% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 48.05 vs 48.36 (-0.6%)
- closed above gamma max at 48.24 vs 47.87 (+0.8%)
- closed below gamma max at 64.50 vs 66.12 (-2.5%)
- closed above gamma max at 61.72 vs 60.35 (+2.2%)
- closed below gamma max at 57.21 vs 59.10 (-3.3%)
- closed above gamma max at 58.62 vs 58.17 (+0.8%)
- closed below gamma max at 55.20 vs 57.53 (-4.2%)
- closed above gamma max at 55.88 vs 55.46 (+0.8%)
- closed below gamma max at 52.24 vs 55.61 (-6.4%)
- closed above gamma max at 55.39 vs 54.99 (+0.7%)
In today's screens
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Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/PAAS
Questions people ask about PAAS
Where is PAAS's gamma max today?
As of Oct 2, 2026, the gamma max for PAAS is 54.49, +19.7% from the 45.51 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 PAAS above or below its delta neutral price?
PAAS closed above delta neutral: 45.51 against a delta neutral price of 41.57. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does PAAS have?
253,357 contracts of open interest across 486 listed contracts on Oct 2, 2026, -1.6% 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.