Data through close

PAYC max pain, gamma exposure (GEX) & options open interest

As of close

PAYC's nearest-expiration max pain is 210.00 for the Fri, Nov 20, 2026 expiration, 15.6% below the 248.86 close; all-expiration max pain is 210.00; the GEX flip is 235.12; net GEX is 257.11K (modeled dollar-delta change per $1 move); the put/call open-interest ratio is 1.12. These are whole-chain derived aggregates as of Nov 13, 2026 close.

PAYC max pain and GEX snapshot

End-of-day snapshot for . Nearest-expiration max pain uses the expiry shown on its card; GEX uses the whole chain. Missing values are unavailable, not zero.

Nearest-expiration max pain
210.00
-15.6% from close
Expiry: Fri, Nov 20, 2026
All-expiration max pain: 210.00
GEX flip (gamma neutral)
235.12
-5.5% from close
Net GEX
257,111
1,336,476 per 100k OI
Call wall
250.00
+0.5% from close
Put wall
240.00
-3.6% from close
Put/call OI
1.12
10,171 puts / 9,067 calls

Prices are in US dollars per share. Net GEX is modeled dollar-delta change per $1 underlying move. Max pain minimizes aggregate intrinsic payout for that expiration; it is not a closing-price forecast. Signed GEX uses calls positive and puts negative, a model convention rather than observed dealer inventory. The flip is a confirmed zero crossing; walls locate side-specific concentrations, not guaranteed support or resistance.

Learn how to read the max pain payout example, GEX chart, gamma flip and walls, and open interest versus trading volume.

Close
248.86
prev 248.84
Gamma max
296.38
+19.1% from close
Delta neutral
231.74
-6.9% from close
Gamma neutral (GEX flip)
235.12
-5.5% from close
Open interest
19,238
+0.1% vs prev
Contracts listed
287
217 calls · 188 puts

Advanced options analysis

Public aggregate 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.

Catalyst intensity
–
cross-sectional score / 100
Directional score
–
IV rank
58.0
within trailing 52-week range
Front IV premium
2.6 pp
front minus back volatility difference
25Δ risk reversal
4.7 pp
put IV minus call IV
IV butterfly
-2.4 pp
front-window smile convexity
Volume / open interest
0.01
100 contracts traded
Normalized net delta
0.185
option-holder convention
Modeled dealer delta
-0.180
opposite-side scenario
Vanna / 100k OI
1,669
volatility-sensitive delta
Charm / 100k OI
-3,603,108
time-decay-sensitive delta
IV surface range
100.0 pp
aggregate volatility dispersion

Download the dated aggregate analysis JSON .

PAYC closed 19.1% below its gamma max of 296.38. It is 6.9% above the delta neutral price of 231.74. Total open interest is 19,238, +0.1% versus the previous session. What gamma max means · What delta neutral means

History

Full history since 2020: drag to pan, scroll to zoom, hover for values. Open full-screen chart

Analysis visualizations

Daily ticker aggregates through 2026-11-13. This analysis view omits individual contract fields.

To see all-expiration max pain over time, open the History chart and select “All-expiration max pain” under More series.

Aggregate IV history

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In today's screens

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Neighbours by open interest

Cite or embed this snapshot

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Canonical source: https://halfonadouble.com/stock/PAYC

Questions people ask about PAYC

What is PAYC's max pain for the nearest expiration?

As of Nov 13, 2026 close, nearest-expiration max pain is 210.00 for the Fri, Nov 20, 2026 expiration. It is a payout-minimizing strike for one expiration. An all-expiration pooled value is a different comparison, and neither establishes where the underlying will close. Max pain definition and worked payout example.

Our 2025 max-pain study compares historical Thursday levels with Friday underlying closes and an unchanged-price baseline. Its scope and results are separate from this current ticker snapshot.

What do PAYC's gamma exposure and gamma flip show?

Signed net GEX is 257,111 as of Nov 13, 2026 close. The confirmed GEX flip is 235.12. These aggregate model outputs use calls positive and puts negative. Their sign does not identify dealers' actual positions or predict the next move. How to interpret GEX, gamma flip and walls.

Where is PAYC's gamma max today?

As of Nov 13, 2026, the gamma max for PAYC is 296.38, +19.1% from the 248.86 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 PAYC above or below its delta neutral price?

PAYC closed above delta neutral: 248.86 against a delta neutral price of 231.74. The delta neutral price is where the summed delta of the whole chain is zero; the definition.

How much open interest does PAYC have?

19,238 contracts of open interest across 287 listed contracts on Nov 13, 2026, +0.1% 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.