PPLT max pain, gamma exposure (GEX) & options open interest
As of close · rank #334 by open interest · 427 sessions of history since Jan 22, 2025
PPLT's nearest-expiration max pain is 16.00 for 2026-10-16, its GEX flip is 8.41, net GEX is 7,504,619, its put/call open-interest ratio is 0.42. 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: 25Δ risk reversal -172.8 pp
PPLT closed 14.8% below its gamma max of 17.71. It is 4.8% above the delta neutral price of 14.69. Total open interest is 257,916, -0.0% versus the previous session. Its options catalyst-intensity score is 47.7 out of 100, led by 25Δ risk reversal -172.8 pp. 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 | -76 contracts · -0.0% |
| Put OI change, 1 session | +4 contracts · +0.0% |
| Call minus put OI growth, 1 session | -0.0 pp |
| Call OI change, 5 sessions | +1,606 contracts · +0.9% |
| Put OI change, 5 sessions | +88 contracts · +0.1% |
| Call minus put OI growth, 5 sessions | +0.8 pp |
| Daily call OI change surprise | +0.04σ (250 prior changes) |
| Daily put OI change surprise | +0.04σ (250 prior changes) |
| Daily call-minus-put growth surprise | +0.03σ (250 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 below gamma max 22 completed Day +10 paths · latest Aug 20, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 22 | +1.0% | -1.2% to +3.1% | 64% | -1.2% to +3.0% | 0.0% |
| Day +2 | 22 | +0.2% | -0.9% to +3.3% | 50% | -0.5% to +1.9% | 0.0% |
| Day +3 | 22 | +0.1% | -1.5% to +3.8% | 50% | -1.4% to +3.5% | 0.0% |
| Day +4 | 22 | +0.4% | -1.6% to +4.6% | 59% | -1.2% to +2.9% | 0.0% |
| Day +5 | 22 | +2.3% | -1.3% to +5.6% | 73% | +0.0% to +5.4% | +0.0% |
| Day +6 | 22 | +1.4% | -1.1% to +5.5% | 55% | -1.0% to +4.6% | 0.0% |
| Day +7 | 22 | +1.7% | -2.4% to +7.5% | 64% | -1.9% to +6.8% | 0.0% |
| Day +8 | 22 | +2.0% | -4.4% to +5.6% | 55% | -2.9% to +4.6% | 0.0% |
| Day +9 | 22 | +0.9% | -4.1% to +6.1% | 64% | -3.8% to +5.9% | 0.0% |
| Day +10 | 22 | +0.7% | -3.7% to +4.1% | 55% | -3.5% to +3.8% | 0.0% |
Crosses above gamma max 20 completed Day +10 paths · latest Aug 19, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 20 | +0.8% | -0.9% to +2.1% | 55% | -0.8% to +2.0% | 0.0% |
| Day +2 | 20 | +1.2% | -1.4% to +4.0% | 65% | -1.4% to +3.9% | 0.0% |
| Day +3 | 20 | +1.6% | -1.9% to +6.6% | 55% | -1.8% to +6.5% | 0.0% |
| Day +4 | 20 | +1.8% | -1.6% to +8.5% | 60% | -1.6% to +8.2% | 0.0% |
| Day +5 | 20 | +1.0% | -1.2% to +6.1% | 55% | -0.9% to +6.0% | 0.0% |
| Day +6 | 20 | +1.7% | -1.3% to +6.7% | 65% | -1.0% to +6.5% | 0.0% |
| Day +7 | 20 | +2.8% | -3.4% to +6.4% | 65% | -3.2% to +6.2% | 0.0% |
| Day +8 | 20 | +1.7% | -4.1% to +6.4% | 50% | -4.1% to +5.7% | 0.0% |
| Day +9 | 20 | +3.1% | -6.0% to +8.2% | 55% | -5.8% to +8.1% | 0.0% |
| Day +10 | 20 | -0.3% | -4.6% to +7.8% | 45% | -4.3% to +7.5% | 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 | 16% |
| Gamma max crosses | 27 |
| Delta neutral crosses | 0 |
| Prior-year sessions closer to gamma max | 84.5% of 252 |
| Prior-year sessions closer to delta neutral | 8.3% of 252 |
| Open interest percentile (1y) | 66th |
| Daily open interest change versus prior year | -0.04σ (-72 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +0.7% |
| Open interest change, 21 sessions | -16.6% |
| History available | Jan 22, 2025 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 16.68 vs 16.96 (-1.7%)
- closed above gamma max at 16.46 vs 16.38 (+0.5%)
- closed below gamma max at 15.56 vs 15.57 (-0.0%)
- closed above gamma max at 15.87 vs 15.83 (+0.2%)
- closed below gamma max at 15.94 vs 16.08 (-0.9%)
- closed above gamma max at 15.91 vs 15.81 (+0.6%)
- closed below gamma max at 15.37 vs 16.40 (-6.7%)
- closed above gamma max at 15.67 vs 15.58 (+0.6%)
- closed below gamma max at 15.63 vs 18.28 (-16.9%)
- closed above gamma max at 15.92 vs 15.48 (+2.8%)
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/PPLT
Questions people ask about PPLT
Where is PPLT's gamma max today?
As of Oct 2, 2026, the gamma max for PPLT is 17.71, +14.8% from the 15.43 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 PPLT above or below its delta neutral price?
PPLT closed above delta neutral: 15.43 against a delta neutral price of 14.69. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does PPLT have?
257,916 contracts of open interest across 352 listed contracts on Oct 2, 2026, -0.0% 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.