PAGP max pain, gamma exposure (GEX) & options open interest
As of close · rank #454 by open interest · 1,394 sessions of history since Dec 1, 2020
PAGP's nearest-expiration max pain is 28.00 for 2026-10-16, its GEX flip is 11.76, net GEX is 21,048,535, its put/call open-interest ratio is 0.38. 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 -121.5 pp · front IV premium 1.6 pp
PAGP closed 4.8% above its gamma max of 24.82. It is 7.1% above the delta neutral price of 24.21. Total open interest is 167,934, -1.5% versus the previous session. Its options catalyst-intensity score is 43.9 out of 100, led by 25Δ risk reversal -121.5 pp, front IV premium 1.6 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 | +293 contracts · +0.2% |
| Put OI change, 1 session | -2,922 contracts · -6.0% |
| Call minus put OI growth, 1 session | +6.2 pp |
| Call OI change, 5 sessions | +1,315 contracts · +1.1% |
| Put OI change, 5 sessions | +1,844 contracts · +4.2% |
| Call minus put OI growth, 5 sessions | -3.1 pp |
| Daily call OI change surprise | +0.01σ (252 prior changes) |
| Daily put OI change surprise | -0.68σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.64σ (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 62 completed Day +10 paths · latest Aug 21, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 62 | +0.2% | -1.2% to +1.2% | 55% | -0.2% to +0.8% | 0.0% |
| Day +2 | 62 | +0.5% | -1.3% to +1.5% | 61% | +0.1% to +1.0% | +0.1% |
| Day +3 | 62 | +0.8% | -1.5% to +2.2% | 61% | +0.2% to +1.4% | +0.2% |
| Day +4 | 62 | +1.1% | -1.7% to +2.7% | 63% | +0.3% to +1.6% | +0.3% |
| Day +5 | 62 | +1.1% | -1.4% to +2.6% | 66% | +0.5% to +1.6% | +0.5% |
| Day +6 | 62 | +0.7% | -1.0% to +1.9% | 66% | +0.3% to +1.3% | +0.3% |
| Day +7 | 62 | +0.5% | -1.8% to +2.2% | 53% | -0.8% to +1.3% | 0.0% |
| Day +8 | 62 | +0.6% | -2.5% to +2.2% | 55% | -0.8% to +1.1% | 0.0% |
| Day +9 | 62 | -0.8% | -2.5% to +2.6% | 47% | -1.2% to +0.9% | 0.0% |
| Day +10 | 62 | -0.1% | -3.7% to +3.0% | 50% | -1.1% to +1.0% | 0.0% |
Crosses below gamma max 59 completed Day +10 paths · latest Aug 20, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 59 | +0.3% | -1.1% to +1.0% | 56% | -0.2% to +0.6% | 0.0% |
| Day +2 | 59 | +0.8% | -1.2% to +1.7% | 58% | -0.4% to +1.2% | 0.0% |
| Day +3 | 59 | +1.1% | -1.0% to +2.1% | 63% | +0.1% to +1.6% | +0.1% |
| Day +4 | 59 | +0.9% | -1.1% to +2.8% | 64% | +0.5% to +2.3% | +0.5% |
| Day +5 | 59 | +0.8% | -2.0% to +2.5% | 59% | -0.2% to +1.5% | 0.0% |
| Day +6 | 59 | +0.8% | -2.0% to +2.4% | 53% | -1.2% to +1.4% | 0.0% |
| Day +7 | 59 | +0.4% | -2.7% to +2.4% | 54% | -1.1% to +1.6% | 0.0% |
| Day +8 | 59 | +0.1% | -2.1% to +2.5% | 51% | -0.7% to +1.4% | 0.0% |
| Day +9 | 59 | +0.9% | -1.6% to +2.6% | 54% | -0.6% to +1.3% | 0.0% |
| Day +10 | 59 | +0.7% | -2.2% to +3.0% | 54% | -0.7% to +1.6% | 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 | 60% |
| Gamma max crosses | 21 |
| Delta neutral crosses | 2 |
| Prior-year sessions closer to gamma max | 48.0% of 252 |
| Prior-year sessions closer to delta neutral | 19.0% of 252 |
| Open interest percentile (1y) | 56th |
| Daily open interest change versus prior year | -0.30σ (-2,629 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +1.9% |
| Open interest change, 21 sessions | -3.3% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed above gamma max at 26.84 vs 24.44 (+8.9%)
- closed below gamma max at 26.80 vs 27.00 (-0.7%)
- closed above gamma max at 25.79 vs 25.79 (+0.0%)
- closed below gamma max at 26.00 vs 26.04 (-0.2%)
- closed above gamma max at 23.50 vs 23.48 (+0.1%)
- closed below gamma max at 23.40 vs 23.49 (-0.4%)
- closed above gamma max at 23.83 vs 23.58 (+1.1%)
- closed below gamma max at 23.88 vs 23.97 (-0.4%)
- closed above gamma max at 24.56 vs 23.53 (+4.2%)
- closed below gamma max at 23.82 vs 24.45 (-2.7%)
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/PAGP
Questions people ask about PAGP
Where is PAGP's gamma max today?
As of Oct 2, 2026, the gamma max for PAGP is 24.82, -4.8% from the 26.06 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 PAGP above or below its delta neutral price?
PAGP closed above delta neutral: 26.06 against a delta neutral price of 24.21. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does PAGP have?
167,934 contracts of open interest across 107 listed contracts on Oct 2, 2026, -1.5% 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.