PATH max pain, gamma exposure (GEX) & options open interest
As of close · rank #176 by open interest · 1,293 sessions of history since Apr 28, 2021
PATH's nearest-expiration max pain is 13.00 for 2026-10-09, its GEX flip is 11.43, net GEX is 9,196,813, its put/call open-interest ratio is 0.53. 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.
PATH closed 21.0% below its gamma max of 15.88. It is 8.3% above the delta neutral price of 12.03. Total open interest is 578,992, -4.0% versus the previous session. Its options catalyst-intensity score is 49.3 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 | -18,515 contracts · -4.7% |
| Put OI change, 1 session | -5,311 contracts · -2.6% |
| Call minus put OI growth, 1 session | -2.1 pp |
| Call OI change, 5 sessions | +5,908 contracts · +1.6% |
| Put OI change, 5 sessions | +1,289 contracts · +0.6% |
| Call minus put OI growth, 5 sessions | +0.9 pp |
| Daily call OI change surprise | -0.45σ (252 prior changes) |
| Daily put OI change surprise | -0.37σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.41σ (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 21 completed Day +10 paths · latest Aug 28, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 21 | +1.3% | -1.5% to +2.0% | 62% | -0.1% to +1.5% | 0.0% |
| Day +2 | 21 | -1.8% | -3.3% to +2.3% | 29% | -3.1% to -0.1% | -0.1% |
| Day +3 | 21 | -1.3% | -3.7% to +0.2% | 33% | -2.6% to +0.1% | 0.0% |
| Day +4 | 21 | -0.1% | -2.7% to +0.4% | 48% | -2.5% to +0.4% | 0.0% |
| Day +5 | 21 | -1.1% | -4.5% to +3.3% | 48% | -4.5% to +2.6% | 0.0% |
| Day +6 | 21 | -0.1% | -3.7% to +3.9% | 48% | -3.0% to +3.7% | 0.0% |
| Day +7 | 21 | -0.6% | -4.5% to +4.1% | 48% | -3.1% to +2.4% | 0.0% |
| Day +8 | 21 | +1.7% | -2.4% to +6.6% | 52% | -1.4% to +4.7% | 0.0% |
| Day +9 | 21 | +4.0% | -5.1% to +12.7% | 62% | -3.3% to +8.5% | 0.0% |
| Day +10 | 21 | +1.7% | -7.3% to +13.4% | 52% | -6.3% to +7.0% | 0.0% |
Crosses above gamma max 22 completed Day +10 paths · latest Aug 27, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 22 | +0.3% | -3.6% to +1.9% | 59% | -2.9% to +1.7% | 0.0% |
| Day +2 | 22 | -0.9% | -4.1% to +1.9% | 41% | -4.0% to +1.9% | 0.0% |
| Day +3 | 22 | -1.2% | -6.5% to +1.3% | 45% | -6.4% to +1.2% | 0.0% |
| Day +4 | 22 | -1.7% | -6.5% to +2.6% | 41% | -6.5% to +2.5% | 0.0% |
| Day +5 | 22 | -1.6% | -4.9% to +2.4% | 41% | -4.6% to +1.9% | 0.0% |
| Day +6 | 22 | -1.4% | -7.3% to +2.6% | 45% | -6.2% to +2.1% | 0.0% |
| Day +7 | 22 | -1.5% | -11.0% to +3.4% | 41% | -7.3% to +3.0% | 0.0% |
| Day +8 | 22 | -0.9% | -9.2% to +4.4% | 36% | -8.1% to +3.7% | 0.0% |
| Day +9 | 22 | +0.3% | -6.2% to +4.8% | 55% | -6.0% to +3.8% | 0.0% |
| Day +10 | 22 | +1.6% | -7.2% to +9.8% | 55% | -5.0% to +9.7% | 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 | 6% |
| Gamma max crosses | 16 |
| Delta neutral crosses | 2 |
| Prior-year sessions closer to gamma max | 80.6% of 252 |
| Prior-year sessions closer to delta neutral | 19.4% of 252 |
| Open interest percentile (1y) | 2th |
| Daily open interest change versus prior year | -0.45σ (-23,826 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +1.3% |
| Open interest change, 21 sessions | -7.5% |
| History available | Apr 28, 2021 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 18.15 vs 18.32 (-1.0%)
- closed above gamma max at 18.33 vs 17.48 (+4.7%)
- closed below gamma max at 16.01 vs 16.06 (-0.3%)
- closed above gamma max at 16.68 vs 16.35 (+2.0%)
- closed below gamma max at 15.59 vs 15.72 (-0.9%)
- closed above gamma max at 15.05 vs 15.02 (+0.2%)
- closed below gamma max at 13.82 vs 13.84 (-0.2%)
- closed above gamma max at 14.10 vs 13.86 (+1.7%)
- closed below gamma max at 11.71 vs 12.92 (-10.3%)
- closed above gamma max at 11.51 vs 11.48 (+0.3%)
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/PATH
Questions people ask about PATH
Where is PATH's gamma max today?
As of Oct 2, 2026, the gamma max for PATH is 15.88, +21.0% from the 13.12 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 PATH above or below its delta neutral price?
PATH closed above delta neutral: 13.12 against a delta neutral price of 12.03. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does PATH have?
578,992 contracts of open interest across 488 listed contracts on Oct 2, 2026, -4.0% 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.