Data through close

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

As of close · rank #4034 by open interest · snapshot page

PHO's nearest-expiration max pain is 70.00 for 2026-11-20, its GEX flip is 60.21, net GEX is 106,142, its put/call open-interest ratio is 0.33. These are whole-chain derived aggregates as of Oct 23, 2026 close.

PHO 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
70.00
-2.8% from close
Expiry: 2026-11-20
GEX flip
60.21
-16.4% from close
Net GEX
106,142
22,112,901 per 100k OI
Call wall
75.00
+4.2% from close
Put wall
60.00
-16.7% from close
Put/call OI
0.33
118 puts / 362 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
72.01
prev 72.26
Gamma max
74.13
+3.0% from close
Delta neutral
64.34
-10.6% from close
Gamma neutral
60.21
-16.4% from close
Open interest
480
+2.3% vs prev
Contracts listed
52
37 calls · 15 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
6.8
within trailing 52-week range
Front IV premium
8.9 pp
front minus back volatility difference
25Δ risk reversal
– pp
put IV minus call IV
IV butterfly
– pp
front-window smile convexity
Volume / open interest
0.10
47 contracts traded
Normalized net delta
0.270
option-holder convention
Modeled dealer delta
-0.269
opposite-side scenario
Vanna / 100k OI
1,458
volatility-sensitive delta
Charm / 100k OI
-26,875
time-decay-sensitive delta
IV surface range
38.9 pp
aggregate volatility dispersion

Download the dated aggregate analysis JSON .

PHO closed 3.0% below its gamma max of 74.13. It is 10.6% above the delta neutral price of 64.34. Total open interest is 480, +2.3% 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 2026-10-23. The max pain curve pools all listed expirations; individual contracts are outside the public dataset.

Aggregate IV history

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Neighbours by open interest

Questions people ask about PHO

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

As of Oct 23, 2026 close, nearest-expiration max pain is 70.00 for the 2026-11-20 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 PHO's gamma exposure and gamma flip show?

Signed net GEX is 106,142 as of Oct 23, 2026 close. The confirmed GEX flip is 60.21. 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 PHO's gamma max today?

As of Oct 23, 2026, the gamma max for PHO is 74.13, +3.0% from the 72.01 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 PHO above or below its delta neutral price?

PHO closed above delta neutral: 72.01 against a delta neutral price of 64.34. The delta neutral price is where the summed delta of the whole chain is zero; the definition.

How much open interest does PHO have?

480 contracts of open interest across 52 listed contracts on Oct 23, 2026, +2.3% 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.