PBR max pain, gamma exposure (GEX) & options open interest
As of close · rank #43 by open interest · 1,392 sessions of history since Dec 1, 2020
PBR's nearest-expiration max pain is 21.00 for 2026-10-09, its GEX flip is 17.62, net GEX is 127,311,558, its put/call open-interest ratio is 0.80. 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: front IV premium 24.9 pp · 7d expected move +10.9%
PBR closed 4.4% below its gamma max of 22.61. It is 13.9% above the delta neutral price of 18.64. Total open interest is 2,254,127, -0.5% versus the previous session. Its options catalyst-intensity score is 62.1 out of 100, led by front IV premium 24.9 pp, 7d expected move +10.9%. 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 | -12,053 contracts · -1.0% |
| Put OI change, 1 session | -390 contracts · -0.0% |
| Call minus put OI growth, 1 session | -0.9 pp |
| Call OI change, 5 sessions | +25,652 contracts · +2.1% |
| Put OI change, 5 sessions | +20,022 contracts · +2.0% |
| Call minus put OI growth, 5 sessions | +0.0 pp |
| Daily call OI change surprise | -0.42σ (252 prior changes) |
| Daily put OI change surprise | -0.08σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.33σ (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 18 completed Day +10 paths · latest Sep 16, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 18 | -1.4% | -3.7% to +0.5% | 33% | -2.9% to +0.1% | 0.0% |
| Day +2 | 18 | -0.6% | -2.2% to -0.0% | 22% | -1.8% to -0.1% | -0.1% |
| Day +3 | 18 | +0.3% | -1.4% to +2.0% | 61% | -1.3% to +1.7% | 0.0% |
| Day +4 | 18 | +0.3% | -1.7% to +3.4% | 56% | -1.4% to +2.6% | 0.0% |
| Day +5 | 18 | +0.5% | -3.0% to +2.7% | 56% | -2.4% to +2.5% | 0.0% |
| Day +6 | 18 | -0.5% | -2.4% to +4.8% | 44% | -1.7% to +4.4% | 0.0% |
| Day +7 | 18 | +0.6% | -3.2% to +5.2% | 56% | -2.6% to +5.0% | 0.0% |
| Day +8 | 18 | +1.6% | -4.8% to +5.0% | 61% | -3.5% to +4.9% | 0.0% |
| Day +9 | 18 | +1.8% | -3.1% to +5.5% | 61% | -2.6% to +3.7% | 0.0% |
| Day +10 | 18 | +1.6% | -2.8% to +6.3% | 61% | -1.3% to +5.9% | 0.0% |
Crosses above gamma max 18 completed Day +10 paths · latest Sep 15, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 18 | +1.6% | -0.9% to +2.5% | 67% | -0.9% to +2.5% | 0.0% |
| Day +2 | 18 | +1.7% | -3.3% to +3.4% | 56% | -2.5% to +3.2% | 0.0% |
| Day +3 | 18 | -0.1% | -3.0% to +3.9% | 44% | -2.4% to +2.9% | 0.0% |
| Day +4 | 18 | +2.1% | -2.0% to +3.0% | 72% | +0.3% to +2.8% | +0.3% |
| Day +5 | 18 | +3.0% | -1.9% to +5.8% | 67% | -0.6% to +5.5% | 0.0% |
| Day +6 | 18 | +2.0% | -2.7% to +5.1% | 61% | -2.0% to +5.0% | 0.0% |
| Day +7 | 18 | +2.7% | -2.1% to +7.0% | 67% | -0.4% to +6.8% | 0.0% |
| Day +8 | 18 | +4.0% | -2.7% to +9.1% | 61% | -2.3% to +8.3% | 0.0% |
| Day +9 | 18 | +4.7% | -2.2% to +8.9% | 67% | -1.8% to +8.4% | 0.0% |
| Day +10 | 18 | +5.5% | -2.0% to +9.7% | 67% | -1.4% to +8.8% | 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 | 12 |
| Delta neutral crosses | 17 |
| Prior-year sessions closer to gamma max | 21.8% of 252 |
| Prior-year sessions closer to delta neutral | 79.0% of 252 |
| Open interest percentile (1y) | 95th |
| Daily open interest change versus prior year | -0.29σ (-12,443 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +2.1% |
| Open interest change, 21 sessions | -4.2% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 20.91 vs 21.23 (-1.5%)
- closed above gamma max at 21.77 vs 21.57 (+0.9%)
- closed below gamma max at 20.51 vs 20.88 (-1.8%)
- closed above gamma max at 20.86 vs 20.80 (+0.3%)
- closed above delta neutral at 18.25 vs 18.15 (+0.6%)
- closed below delta neutral at 17.76 vs 17.91 (-0.8%)
- closed above delta neutral at 17.97 vs 17.70 (+1.5%)
- closed below delta neutral at 17.47 vs 17.52 (-0.3%)
- closed above delta neutral at 17.88 vs 17.84 (+0.2%)
- closed below delta neutral at 17.34 vs 17.56 (-1.3%)
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/PBR
Questions people ask about PBR
Where is PBR's gamma max today?
As of Oct 2, 2026, the gamma max for PBR is 22.61, +4.4% from the 21.65 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 PBR above or below its delta neutral price?
PBR closed above delta neutral: 21.65 against a delta neutral price of 18.64. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does PBR have?
2,254,127 contracts of open interest across 457 listed contracts on Oct 2, 2026, -0.5% 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.