# PENG: options-positioning snapshot

Canonical: https://halfonadouble.com/stock/PENG
Data through: 2026-11-13 close
Publisher: Half on a Double

| Published field | Value |
| --- | --- |
| Close (USD/share) | 47.36 |
| Delta neutral (USD/share) | 48.78 |
| Gamma neutral (USD/share) | 43.46 |
| Gamma max (USD/share) | 64.14 |
| Open interest (contracts) | 102,108 |
| Nearest-expiration max pain (USD/share) | 55.00 (2026-11-20) |
| All-expiration max pain (USD/share) | 55.00 |
| Net gamma exposure | 636,125 |
| Confirmed GEX flip (USD/share) | 43.46 |
| Call wall (USD/share) | 50.00 |
| Put wall (USD/share) | 50.00 |
| Put/call open-interest ratio | 0.74 |
| Net GEX sign history | positive for the last 6 sessions; negative on 25 of the past 252 |
| Max pain expiration record (past 252 sessions) | expiration close nearer the prior-session max pain on 2 of 12 expirations (17%); median distance 14.48% vs 2.07% for an unchanged prior close |
| Options catalyst-intensity score (0–100) | 51.0 |
| Options directional score (-100 to +100) | 12.5 |
| IV rank | 4.4 |
| Front-minus-back IV | 14.6 pp |
| Front 25-delta risk reversal | -18.9 pp |
| Call OI change, 1 session | +408 contracts · +0.7% |
| Put OI change, 1 session | +450 contracts · +1.0% |
| Call minus put OI growth, 1 session | -0.3 pp |
| Call OI change, 5 sessions | +919 contracts · +1.6% |
| Put OI change, 5 sessions | +1,128 contracts · +2.7% |
| Call minus put OI growth, 5 sessions | -1.1 pp |
| Daily call OI change surprise | +0.07σ (252 prior changes) |
| Daily put OI change surprise | +0.13σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.00σ (252 prior changes) |
| Daily open interest change (contracts) | 858 |
| Daily open interest change z-score (prior 252) | +0.10σ (252 prior changes) |
| Gamma max distance from close | +35.4% |
| Delta neutral distance from close | +3.0% |
| Prior-year sessions closer to gamma max | 84.9% of 252 |
| Prior-year sessions closer to delta neutral | 15.5% of 252 |

## Recent expirations vs max pain

| Expiration | Max pain (session before) | Prior close | Expiration close | Close vs max pain | Nearer |
| --- | ---: | ---: | ---: | ---: | --- |
| 2026-10-16 | 60.00 | 61.86 | 57.10 | -4.69% | Max pain |
| 2026-09-18 | 45.00 | 52.55 | 53.30 | +15.79% | Prior close |
| 2026-08-21 | 60.00 | 51.14 | 52.62 | -14.43% | Prior close |
| 2026-07-17 | 70.00 | 65.97 | 60.41 | -14.54% | Prior close |
| 2026-06-18 | 45.00 | 59.68 | 67.15 | +37.11% | Prior close |
| 2026-05-15 | 35.00 | 49.44 | 46.82 | +23.91% | Prior close |
| 2026-04-17 | 17.50 | 26.09 | 26.74 | +35.42% | Prior close |
| 2026-03-20 | 20.00 | 17.67 | 17.52 | -14.04% | Prior close |
| 2026-02-20 | 20.00 | 18.81 | 19.12 | -4.68% | Prior close |
| 2026-01-16 | 20.00 | 20.01 | 19.96 | -0.20% | Max pain |

Each expiration compares the last session before it, when it was the nearest expiration, with the expiration-session close; distances are percentages of that prior close. Underlying closes are not option settlement values. Descriptive history, not a forecast.

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 15 | +0.6% | -2.2% to +3.5% | 53% | -2.5% to +3.8% | 0.0% |
| above | Day +3 | 15 | +1.6% | -4.5% to +8.0% | 53% | -5.3% to +9.0% | 0.0% |
| above | Day +5 | 15 | +2.4% | -2.9% to +11.7% | 60% | -4.5% to +12.2% | 0.0% |
| above | Day +10 | 15 | +12.0% | -2.3% to +25.3% | 67% | -3.0% to +29.2% | 0.0% |
| below | Day +1 | 17 | -0.1% | -3.2% to +6.6% | 47% | -3.2% to +6.6% | 0.0% |
| below | Day +3 | 17 | +1.8% | -2.0% to +6.9% | 53% | -2.0% to +6.9% | 0.0% |
| below | Day +5 | 17 | +3.0% | -6.2% to +11.5% | 53% | -6.2% to +11.5% | 0.0% |
| below | Day +10 | 17 | +4.3% | -0.7% to +38.6% | 65% | -0.7% to +38.6% | 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.

- [Machine-readable snapshot](https://halfonadouble.com/api/v1/tickers/PENG.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/PENG.csv)
- [Public aggregate analysis](https://halfonadouble.com/api/v1/analysis/PENG.json?date=2026-11-13&public_schema=5)

An em dash means unavailable, not zero. Values use the same display rounding as the HTML page. This is a current snapshot; the 60-session close-versus-max-pain chart, full history and individual event paths are on the canonical page.

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