Data through close

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

As of close

PNW's nearest-expiration max pain is 100.00 for the Fri, Nov 20, 2026 expiration, 6.5% below the 107.00 close; all-expiration max pain is 100.00; the GEX flip is 94.92; net GEX is 1.52M (modeled dollar-delta change per $1 move); the put/call open-interest ratio is 0.77. These are whole-chain derived aggregates as of Nov 13, 2026 close.

PNW 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
100.00
-6.5% from close
Expiry: Fri, Nov 20, 2026
All-expiration max pain: 100.00
GEX flip (gamma neutral)
94.92
-11.3% from close
Net GEX
1,515,099
17,158,543 per 100k OI
Call wall
110.00
+2.8% from close
Put wall
90.00
-15.9% from close
Put/call OI
0.77
3,844 puts / 4,986 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
107.00
prev 107.03
Gamma max
108.84
+1.7% from close
Delta neutral
98.69
-7.8% from close
Gamma neutral (GEX flip)
94.92
-11.3% from close
Open interest
8,830
+0.3% vs prev
Contracts listed
86
50 calls · 40 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
10.7
within trailing 52-week range
Front IV premium
19.4 pp
front minus back volatility difference
25Δ risk reversal
-11.8 pp
put IV minus call IV
IV butterfly
-4.6 pp
front-window smile convexity
Volume / open interest
0.00
9 contracts traded
Normalized net delta
0.224
option-holder convention
Modeled dealer delta
-0.224
opposite-side scenario
Vanna / 100k OI
3,986
volatility-sensitive delta
Charm / 100k OI
-4,590,600
time-decay-sensitive delta
IV surface range
154.1 pp
aggregate volatility dispersion

Download the dated aggregate analysis JSON .

PNW closed 1.7% below its gamma max of 108.84. It is 7.8% above the delta neutral price of 98.69. Total open interest is 8,830, +0.3% 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 2026-11-13. This analysis view omits individual contract fields.

To see all-expiration max pain over time, open the History chart and select “All-expiration max pain” under More series.

Aggregate IV history

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In today's screens

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Neighbours by open interest

Cite or embed this snapshot

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Canonical source: https://halfonadouble.com/stock/PNW

Questions people ask about PNW

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

As of Nov 13, 2026 close, nearest-expiration max pain is 100.00 for the Fri, Nov 20, 2026 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 PNW's gamma exposure and gamma flip show?

Signed net GEX is 1,515,099 as of Nov 13, 2026 close. The confirmed GEX flip is 94.92. 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 PNW's gamma max today?

As of Nov 13, 2026, the gamma max for PNW is 108.84, +1.7% from the 107.00 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 PNW above or below its delta neutral price?

PNW closed above delta neutral: 107.00 against a delta neutral price of 98.69. The delta neutral price is where the summed delta of the whole chain is zero; the definition.

How much open interest does PNW have?

8,830 contracts of open interest across 86 listed contracts on Nov 13, 2026, +0.3% 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.