PL max pain, gamma exposure (GEX) & options open interest
As of close · rank #283 by open interest · 1,028 sessions of history since Dec 8, 2021
PL's nearest-expiration max pain is 17.00 for 2026-10-09, its GEX flip is 8.02, net GEX is 8,872,850, its put/call open-interest ratio is 0.32. 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 2.1 pp · volume/OI 0.09 · 7d expected move +9.8%
PL closed 15.0% below its gamma max of 20.12. It is 7.9% above the delta neutral price of 16.12. Total open interest is 329,273, -6.4% versus the previous session. Its options catalyst-intensity score is 60.6 out of 100, led by front IV premium 2.1 pp, volume/OI 0.09, 7d expected move +9.8%. 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 | -14,378 contracts · -5.4% |
| Put OI change, 1 session | -7,982 contracts · -9.1% |
| Call minus put OI growth, 1 session | +3.7 pp |
| Call OI change, 5 sessions | -514 contracts · -0.2% |
| Put OI change, 5 sessions | -5,570 contracts · -6.5% |
| Call minus put OI growth, 5 sessions | +6.3 pp |
| Daily call OI change surprise | -1.48σ (252 prior changes) |
| Daily put OI change surprise | -1.20σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.88σ (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 above gamma max 27 completed Day +10 paths · latest May 28, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 27 | +0.8% | -1.5% to +3.0% | 56% | -1.3% to +2.1% | 0.0% |
| Day +2 | 27 | 0.0% | -2.8% to +2.1% | 48% | -1.5% to +1.5% | 0.0% |
| Day +3 | 27 | -0.4% | -5.0% to +4.6% | 48% | -3.4% to +4.1% | 0.0% |
| Day +4 | 27 | +2.3% | -4.0% to +9.5% | 59% | -0.9% to +8.5% | 0.0% |
| Day +5 | 27 | +3.9% | -4.6% to +16.4% | 67% | -1.2% to +14.1% | 0.0% |
| Day +6 | 27 | +3.0% | -4.2% to +19.6% | 63% | -1.7% to +15.1% | 0.0% |
| Day +7 | 27 | +2.9% | -8.7% to +19.3% | 63% | -5.3% to +17.2% | 0.0% |
| Day +8 | 27 | +6.4% | -8.0% to +20.3% | 56% | -5.0% to +17.2% | 0.0% |
| Day +9 | 27 | +6.4% | -5.5% to +24.8% | 59% | -4.3% to +20.5% | 0.0% |
| Day +10 | 27 | +10.6% | -4.9% to +22.8% | 63% | -2.3% to +20.5% | 0.0% |
Crosses below gamma max 25 completed Day +10 paths · latest May 15, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 25 | +0.6% | -0.9% to +2.6% | 56% | -0.5% to +2.2% | 0.0% |
| Day +2 | 25 | 0.0% | -2.5% to +3.3% | 48% | -0.4% to +2.6% | 0.0% |
| Day +3 | 25 | +1.9% | -3.9% to +7.0% | 56% | -3.1% to +6.6% | 0.0% |
| Day +4 | 25 | +2.2% | -2.1% to +9.1% | 60% | -2.1% to +6.3% | 0.0% |
| Day +5 | 25 | -1.3% | -4.3% to +10.7% | 48% | -4.0% to +10.5% | 0.0% |
| Day +6 | 25 | +0.9% | -4.3% to +14.8% | 52% | -3.1% to +13.6% | 0.0% |
| Day +7 | 25 | +2.7% | -4.3% to +18.1% | 52% | -3.9% to +16.8% | 0.0% |
| Day +8 | 25 | +6.1% | -5.9% to +23.5% | 60% | -5.0% to +19.0% | 0.0% |
| Day +9 | 25 | +3.5% | -6.9% to +22.6% | 52% | -6.3% to +17.3% | 0.0% |
| Day +10 | 25 | +0.9% | -5.2% to +30.9% | 52% | -4.7% to +12.0% | 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 | 10% |
| Gamma max crosses | 19 |
| Delta neutral crosses | 16 |
| Prior-year sessions closer to gamma max | 55.6% of 252 |
| Prior-year sessions closer to delta neutral | 25.8% of 252 |
| Open interest percentile (1y) | 92th |
| Daily open interest change versus prior year | -1.44σ (-22,360 contracts; 252 prior changes) |
| Open interest change, 5 sessions | -1.8% |
| Open interest change, 21 sessions | -5.0% |
| History available | Dec 8, 2021 → Oct 2, 2026 |
Recent crosses
- closed above delta neutral at 16.39 vs 15.98 (+2.5%)
- closed below delta neutral at 16.38 vs 16.93 (-3.4%)
- closed above delta neutral at 17.62 vs 16.51 (+6.3%)
- closed below delta neutral at 16.42 vs 16.92 (-3.0%)
- closed above delta neutral at 16.99 vs 16.65 (+2.0%)
- closed below delta neutral at 18.12 vs 18.97 (-4.7%)
- closed above delta neutral at 22.29 vs 21.21 (+4.9%)
- closed below delta neutral at 22.17 vs 22.28 (-0.5%)
- closed above delta neutral at 21.53 vs 21.29 (+1.1%)
- closed below delta neutral at 20.47 vs 21.43 (-4.7%)
In today's screens
Neighbours by open interest
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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/PL
Questions people ask about PL
Where is PL's gamma max today?
As of Oct 2, 2026, the gamma max for PL is 20.12, +15.0% from the 17.50 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 PL above or below its delta neutral price?
PL closed above delta neutral: 17.50 against a delta neutral price of 16.12. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does PL have?
329,273 contracts of open interest across 460 listed contracts on Oct 2, 2026, -6.4% 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.