PEP max pain, gamma exposure (GEX) & options open interest
As of close · rank #276 by open interest · 1,394 sessions of history since Dec 1, 2020
PEP's nearest-expiration max pain is 133.00 for 2026-10-09, its GEX flip is 127.54, net GEX is -3,796,309, 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.
Strongest relative signals: front IV premium 13.4 pp · IV rank 100
PEP closed 17.9% below its gamma max of 148.37. It is 4.7% below the delta neutral price of 131.80. Total open interest is 348,785, -4.3% versus the previous session. Its options catalyst-intensity score is 60.5 out of 100, led by front IV premium 13.4 pp, IV rank 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 | -12,333 contracts · -5.1% |
| Put OI change, 1 session | -3,443 contracts · -2.8% |
| Call minus put OI growth, 1 session | -2.4 pp |
| Call OI change, 5 sessions | +6,790 contracts · +3.1% |
| Put OI change, 5 sessions | +4,731 contracts · +4.1% |
| Call minus put OI growth, 5 sessions | -1.0 pp |
| Daily call OI change surprise | -0.67σ (252 prior changes) |
| Daily put OI change surprise | -0.24σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.45σ (252 prior changes) |
History
Hover for valuesDrag to panScroll to zoomClick a series to hide it ← → step a session+ − zoomTouch: swipe to pan, pinch to zoom, hold for the crosshair
Analysis visualizations
Derived from the 2026-10-02 options chain. Select an analysis to explore its chart.
No matching visualizations.
Gamma walls
Chart loads when this section is in view.
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 14 completed Day +10 paths · latest Feb 18, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 14 | +0.0% | -0.7% to +0.2% | 50% | -0.7% to +0.2% | 0.0% |
| Day +2 | 14 | +0.2% | -0.3% to +0.5% | 57% | -0.4% to +0.5% | 0.0% |
| Day +3 | 14 | +0.4% | -0.3% to +1.0% | 64% | -0.4% to +1.0% | 0.0% |
| Day +4 | 14 | -0.2% | -0.5% to +0.9% | 43% | -0.5% to +0.9% | 0.0% |
| Day +5 | 14 | +0.4% | -2.3% to +0.8% | 57% | -2.6% to +0.9% | 0.0% |
| Day +6 | 14 | -0.2% | -1.2% to +0.8% | 36% | -1.2% to +0.8% | 0.0% |
| Day +7 | 14 | +0.2% | -0.9% to +1.2% | 64% | -1.1% to +1.4% | 0.0% |
| Day +8 | 14 | +0.0% | -0.9% to +0.7% | 50% | -0.9% to +0.7% | 0.0% |
| Day +9 | 14 | +0.5% | -1.2% to +1.1% | 64% | -1.6% to +1.1% | 0.0% |
| Day +10 | 14 | +0.1% | -2.2% to +0.9% | 50% | -2.6% to +0.9% | 0.0% |
Crosses above gamma max 14 completed Day +10 paths · latest Feb 17, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 14 | -0.3% | -1.0% to +0.1% | 36% | -1.0% to +0.1% | 0.0% |
| Day +2 | 14 | -0.4% | -1.8% to +0.0% | 29% | -1.9% to +0.1% | 0.0% |
| Day +3 | 14 | -0.5% | -1.2% to +0.4% | 50% | -1.3% to +0.4% | 0.0% |
| Day +4 | 14 | -0.3% | -1.4% to +0.7% | 43% | -1.5% to +0.8% | 0.0% |
| Day +5 | 14 | -0.6% | -1.2% to +0.2% | 29% | -1.3% to +0.2% | 0.0% |
| Day +6 | 14 | -1.0% | -2.8% to +1.1% | 43% | -2.9% to +1.2% | 0.0% |
| Day +7 | 14 | -0.8% | -2.6% to +0.9% | 36% | -2.7% to +1.2% | 0.0% |
| Day +8 | 14 | -0.5% | -1.8% to +1.4% | 50% | -1.8% to +1.7% | 0.0% |
| Day +9 | 14 | -0.9% | -1.7% to +0.8% | 43% | -1.7% to +0.8% | 0.0% |
| Day +10 | 14 | -0.5% | -1.6% to +1.1% | 50% | -1.6% to +1.1% | 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 | 2% |
| Gamma max crosses | 4 |
| Delta neutral crosses | 28 |
| Prior-year sessions closer to gamma max | 99.6% of 252 |
| Prior-year sessions closer to delta neutral | 84.9% of 252 |
| Open interest percentile (1y) | 36th |
| Daily open interest change versus prior year | -0.55σ (-15,776 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +3.4% |
| Open interest change, 21 sessions | -10.2% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 136.69 vs 137.09 (-0.3%)
- closed above delta neutral at 138.45 vs 138.31 (+0.1%)
- closed below delta neutral at 137.63 vs 138.48 (-0.6%)
- closed above delta neutral at 138.41 vs 138.22 (+0.1%)
- closed below delta neutral at 137.73 vs 137.75 (-0.0%)
- closed above delta neutral at 139.79 vs 136.88 (+2.1%)
- closed below delta neutral at 137.12 vs 138.32 (-0.9%)
- closed above delta neutral at 139.43 vs 139.37 (+0.0%)
- closed below delta neutral at 137.86 vs 141.01 (-2.3%)
- closed above delta neutral at 141.16 vs 139.14 (+1.4%)
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/PEP
Questions people ask about PEP
Where is PEP's gamma max today?
As of Oct 2, 2026, the gamma max for PEP is 148.37, +17.9% from the 125.89 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 PEP above or below its delta neutral price?
PEP closed below delta neutral: 125.89 against a delta neutral price of 131.80. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does PEP have?
348,785 contracts of open interest across 728 listed contracts on Oct 2, 2026, -4.3% 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.