# PBR.A: options-positioning snapshot

Canonical: https://halfonadouble.com/stock/PBR.A
Data through: 2026-09-15 close
Publisher: Half on a Double

| Published field | Value |
| --- | --- |
| Close (USD/share) | 19.57 |
| Delta neutral (USD/share) | 12.72 |
| Gamma neutral (USD/share) | 8.97 |
| Gamma max (USD/share) | 19.67 |
| Open interest (contracts) | 218,188 |
| Gamma max distance from close | +0.5% |
| Delta neutral distance from close | -35.0% |
| Prior-year sessions closer to gamma max | 2.3% of 219 |
| Prior-year sessions closer to delta neutral | 94.1% of 219 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 13 | -1.3% | -3.0% to +1.5% | 38% | -3.0% to +1.5% | 0.0% |
| above | Day +3 | 13 | -0.3% | -5.9% to +1.3% | 46% | -5.9% to +1.3% | 0.0% |
| above | Day +5 | 13 | -2.5% | -4.5% to +2.6% | 38% | -4.5% to +2.6% | 0.0% |
| above | Day +10 | 11 | -3.3% | -10.5% to -2.1% | 9% | -10.7% to -1.6% | -1.6% |
| below | Day +1 | 16 | +0.6% | -1.3% to +3.3% | 63% | -1.2% to +3.3% | 0.0% |
| below | Day +3 | 16 | +1.0% | -2.1% to +2.2% | 63% | -1.8% to +1.6% | 0.0% |
| below | Day +5 | 15 | -1.8% | -4.0% to +1.0% | 27% | -4.9% to +2.2% | 0.0% |
| below | Day +10 | 14 | -2.3% | -7.7% to +4.0% | 43% | -7.9% to +4.5% | 0.0% |

Returns are close-to-close after the labelled number of subsequent trading sessions. Cohorts require gamma max to be within 10% of the close on both crossing sessions. Historical windows can overlap and are not independent observations, so interval coverage is not guaranteed.

An em dash means unavailable, not zero. Values use the same display rounding as the HTML page. This is a current snapshot; full history and individual event paths are on the canonical page.

[Definitions and limitations](https://halfonadouble.com/methodology.md).