QBTS max pain, gamma exposure (GEX) & options open interest
As of close · rank #185 by open interest · 776 sessions of history since Aug 17, 2022
QBTS's nearest-expiration max pain is 17.00 for 2026-10-09, its GEX flip is 16.45, net GEX is -2,627,385, its put/call open-interest ratio is 0.77. 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: volume/OI 0.09 · 7d expected move +9.3%
QBTS closed 34.6% below its gamma max of 21.23. It is 7.5% below the delta neutral price of 16.96. Total open interest is 561,511, -5.6% versus the previous session. Its options catalyst-intensity score is 50.4 out of 100, led by volume/OI 0.09, 7d expected move +9.3%. 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 | -24,938 contracts · -7.3% |
| Put OI change, 1 session | -8,282 contracts · -3.3% |
| Call minus put OI growth, 1 session | -4.0 pp |
| Call OI change, 5 sessions | -4,970 contracts · -1.5% |
| Put OI change, 5 sessions | -613 contracts · -0.2% |
| Call minus put OI growth, 5 sessions | -1.3 pp |
| Daily call OI change surprise | -0.95σ (252 prior changes) |
| Daily put OI change surprise | -0.44σ (252 prior changes) |
| Daily call-minus-put growth surprise | -1.40σ (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 21 completed Day +10 paths · latest Apr 15, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 21 | -1.8% | -4.4% to +0.1% | 29% | -4.1% to -0.2% | -0.2% |
| Day +2 | 21 | -1.2% | -4.8% to +3.4% | 48% | -4.2% to +3.3% | 0.0% |
| Day +3 | 21 | -2.0% | -5.9% to +4.1% | 38% | -4.4% to +3.1% | 0.0% |
| Day +4 | 21 | -2.1% | -7.8% to +6.3% | 38% | -6.5% to +3.6% | 0.0% |
| Day +5 | 21 | -0.4% | -9.5% to +2.7% | 38% | -8.2% to +2.1% | 0.0% |
| Day +6 | 21 | -5.8% | -12.1% to +6.7% | 29% | -9.1% to -3.9% | -3.9% |
| Day +7 | 21 | -5.7% | -12.4% to +1.8% | 33% | -11.1% to +0.0% | 0.0% |
| Day +8 | 21 | -4.7% | -12.2% to +5.6% | 33% | -11.9% to +0.7% | 0.0% |
| Day +9 | 21 | -4.9% | -11.6% to +12.9% | 43% | -10.9% to +11.5% | 0.0% |
| Day +10 | 21 | -2.7% | -12.3% to +12.5% | 43% | -11.8% to +8.7% | 0.0% |
Crosses above gamma max 23 completed Day +10 paths · latest Dec 22, 2025
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 23 | +0.1% | -2.6% to +5.3% | 52% | -1.9% to +5.1% | 0.0% |
| Day +2 | 23 | -1.8% | -7.1% to +3.6% | 39% | -6.1% to +2.2% | 0.0% |
| Day +3 | 23 | -1.4% | -14.9% to +0.8% | 39% | -8.6% to +0.2% | 0.0% |
| Day +4 | 23 | -3.4% | -12.8% to +4.0% | 39% | -8.7% to +2.3% | 0.0% |
| Day +5 | 23 | -2.6% | -7.2% to +4.6% | 35% | -6.7% to +0.2% | 0.0% |
| Day +6 | 23 | -1.4% | -10.3% to +7.1% | 39% | -7.3% to +3.1% | 0.0% |
| Day +7 | 23 | -4.6% | -13.0% to +8.0% | 30% | -8.9% to -0.3% | -0.3% |
| Day +8 | 23 | -2.4% | -8.8% to +4.0% | 43% | -5.6% to +1.2% | 0.0% |
| Day +9 | 23 | -1.9% | -10.9% to +5.6% | 35% | -7.7% to +3.0% | 0.0% |
| Day +10 | 23 | -6.2% | -13.2% to +13.4% | 39% | -12.6% to +3.4% | 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 | 8 |
| Delta neutral crosses | 29 |
| Prior-year sessions closer to gamma max | 91.7% of 252 |
| Prior-year sessions closer to delta neutral | 42.9% of 252 |
| Open interest percentile (1y) | 46th |
| Daily open interest change versus prior year | -0.76σ (-33,220 contracts; 252 prior changes) |
| Open interest change, 5 sessions | -1.0% |
| Open interest change, 21 sessions | -11.6% |
| History available | Aug 17, 2022 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 16.78 vs 17.12 (-2.0%)
- closed above delta neutral at 17.48 vs 17.21 (+1.6%)
- closed below delta neutral at 16.81 vs 17.17 (-2.1%)
- closed above delta neutral at 17.70 vs 17.52 (+1.0%)
- closed below delta neutral at 17.11 vs 17.39 (-1.6%)
- closed above delta neutral at 17.69 vs 17.46 (+1.3%)
- closed below delta neutral at 17.12 vs 17.42 (-1.7%)
- closed above delta neutral at 17.67 vs 17.45 (+1.2%)
- closed below delta neutral at 17.51 vs 18.27 (-4.3%)
- closed above delta neutral at 20.39 vs 18.78 (+7.9%)
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/QBTS
Questions people ask about QBTS
Where is QBTS's gamma max today?
As of Oct 2, 2026, the gamma max for QBTS is 21.23, +34.6% from the 15.77 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 QBTS above or below its delta neutral price?
QBTS closed below delta neutral: 15.77 against a delta neutral price of 16.96. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does QBTS have?
561,511 contracts of open interest across 549 listed contracts on Oct 2, 2026, -5.6% 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.