QUBT max pain, gamma exposure (GEX) & options open interest
As of close · rank #206 by open interest · 745 sessions of history since Aug 19, 2021
QUBT's nearest-expiration max pain is 8.50 for 2026-10-09, its GEX flip is 7.60, net GEX is 2,230,000, its put/call open-interest ratio is 0.56. 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: smile convexity 53.3 pp · 25Δ risk reversal 206.4 pp · IV rank 99
QUBT closed 31.9% below its gamma max of 10.79. It is 5.9% below the delta neutral price of 8.66. Total open interest is 490,319, -3.1% versus the previous session. Its options catalyst-intensity score is 53.7 out of 100, led by smile convexity 53.3 pp, 25Δ risk reversal 206.4 pp, IV rank 99. 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 | -11,672 contracts · -3.6% |
| Put OI change, 1 session | -4,193 contracts · -2.3% |
| Call minus put OI growth, 1 session | -1.3 pp |
| Call OI change, 5 sessions | +4,458 contracts · +1.4% |
| Put OI change, 5 sessions | +2,205 contracts · +1.3% |
| Call minus put OI growth, 5 sessions | +0.2 pp |
| Daily call OI change surprise | -0.48σ (252 prior changes) |
| Daily put OI change surprise | -0.21σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.38σ (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 below gamma max 14 completed Day +10 paths · latest May 26, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 14 | -1.9% | -5.8% to +4.2% | 43% | -6.3% to +5.1% | 0.0% |
| Day +2 | 14 | -4.5% | -8.3% to +2.7% | 36% | -8.4% to +2.9% | 0.0% |
| Day +3 | 14 | -3.9% | -10.4% to +1.1% | 29% | -10.5% to +1.6% | 0.0% |
| Day +4 | 14 | -1.3% | -12.9% to +5.5% | 43% | -13.1% to +5.9% | 0.0% |
| Day +5 | 14 | -4.7% | -12.0% to +1.0% | 29% | -13.3% to +1.8% | 0.0% |
| Day +6 | 14 | -4.6% | -14.1% to -1.8% | 21% | -15.0% to -1.3% | -1.3% |
| Day +7 | 14 | -6.3% | -11.4% to +3.5% | 29% | -12.2% to +5.9% | 0.0% |
| Day +8 | 14 | -10.5% | -17.2% to +5.2% | 36% | -17.7% to +5.4% | 0.0% |
| Day +9 | 14 | -10.6% | -20.1% to +0.5% | 29% | -20.3% to +1.2% | 0.0% |
| Day +10 | 14 | -10.8% | -16.8% to +7.1% | 29% | -17.0% to +10.8% | 0.0% |
Crosses above gamma max 14 completed Day +10 paths · latest May 22, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 14 | -3.7% | -6.9% to -0.0% | 29% | -7.1% to +0.4% | 0.0% |
| Day +2 | 14 | -4.0% | -9.3% to +1.1% | 29% | -9.7% to +1.6% | 0.0% |
| Day +3 | 14 | -6.4% | -13.9% to +2.8% | 29% | -14.9% to +4.1% | 0.0% |
| Day +4 | 14 | -7.4% | -11.6% to -2.1% | 21% | -11.6% to -1.8% | -1.8% |
| Day +5 | 14 | -6.3% | -12.9% to +3.4% | 43% | -13.4% to +3.4% | 0.0% |
| Day +6 | 14 | -9.0% | -15.2% to +0.7% | 29% | -15.5% to +1.0% | 0.0% |
| Day +7 | 14 | -6.6% | -11.2% to -1.3% | 21% | -11.5% to -0.6% | -0.6% |
| Day +8 | 14 | -6.2% | -14.3% to +3.4% | 29% | -14.4% to +4.5% | 0.0% |
| Day +9 | 14 | -9.9% | -17.5% to +2.6% | 36% | -18.6% to +2.9% | 0.0% |
| Day +10 | 14 | -3.6% | -14.2% to +6.2% | 43% | -14.9% to +6.3% | 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 | 10 |
| Delta neutral crosses | 29 |
| Prior-year sessions closer to gamma max | 77.4% of 252 |
| Prior-year sessions closer to delta neutral | 45.2% of 252 |
| Open interest percentile (1y) | 82th |
| Daily open interest change versus prior year | -0.37σ (-15,865 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +1.4% |
| Open interest change, 21 sessions | +15.7% |
| History available | Aug 19, 2021 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 8.57 vs 8.67 (-1.2%)
- closed above delta neutral at 8.44 vs 8.43 (+0.1%)
- closed below delta neutral at 8.15 vs 8.19 (-0.5%)
- closed above delta neutral at 8.46 vs 8.33 (+1.5%)
- closed below delta neutral at 8.24 vs 8.28 (-0.5%)
- closed above delta neutral at 8.91 vs 8.60 (+3.5%)
- closed below delta neutral at 9.01 vs 9.08 (-0.7%)
- closed above delta neutral at 8.74 vs 8.53 (+2.4%)
- closed below delta neutral at 8.71 vs 8.96 (-2.9%)
- closed above delta neutral at 9.36 vs 9.31 (+0.6%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/QUBT
Questions people ask about QUBT
Where is QUBT's gamma max today?
As of Oct 2, 2026, the gamma max for QUBT is 10.79, +31.9% from the 8.18 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 QUBT above or below its delta neutral price?
QUBT closed below delta neutral: 8.18 against a delta neutral price of 8.66. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does QUBT have?
490,319 contracts of open interest across 347 listed contracts on Oct 2, 2026, -3.1% 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.