QXO max pain, gamma exposure (GEX) & options open interest
As of close · rank #152 by open interest · 523 sessions of history since Sep 3, 2024
QXO's nearest-expiration max pain is 12.00 for 2026-10-09, its GEX flip is 3.68, net GEX is 20,393,183, its put/call open-interest ratio is 0.29. 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 -214.9 pp · smile convexity -15.7 pp
QXO closed 18.9% below its gamma max of 14.34. It is 11.6% above the delta neutral price of 10.67. Total open interest is 669,277, -0.6% versus the previous session. Its options catalyst-intensity score is 54.9 out of 100, led by 25Δ risk reversal -214.9 pp, smile convexity -15.7 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 | -3,490 contracts · -0.7% |
| Put OI change, 1 session | -360 contracts · -0.2% |
| Call minus put OI growth, 1 session | -0.4 pp |
| Call OI change, 5 sessions | +12,438 contracts · +2.5% |
| Put OI change, 5 sessions | +15,302 contracts · +11.4% |
| Call minus put OI growth, 5 sessions | -8.9 pp |
| Daily call OI change surprise | -0.39σ (252 prior changes) |
| Daily put OI change surprise | -0.09σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.10σ (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 11 completed Day +10 paths · latest Jun 29, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 11 | -0.8% | -2.0% to +0.4% | 36% | -2.5% to +0.5% | 0.0% |
| Day +2 | 11 | +0.5% | -1.4% to +3.0% | 55% | -1.5% to +3.2% | 0.0% |
| Day +3 | 11 | +0.4% | -6.2% to +2.5% | 55% | -8.3% to +2.7% | 0.0% |
| Day +4 | 11 | +0.6% | -4.6% to +2.9% | 64% | -8.7% to +3.4% | 0.0% |
| Day +5 | 11 | -0.6% | -8.8% to +1.9% | 45% | -12.9% to +2.0% | 0.0% |
| Day +6 | 11 | -1.9% | -7.7% to +3.2% | 36% | -9.5% to +3.6% | 0.0% |
| Day +7 | 11 | -3.0% | -8.5% to -0.9% | 27% | -11.0% to +1.2% | 0.0% |
| Day +8 | 11 | -2.9% | -7.9% to -1.2% | 18% | -9.2% to -0.7% | -0.7% |
| Day +9 | 11 | -2.3% | -7.7% to +0.1% | 27% | -7.9% to +0.8% | 0.0% |
| Day +10 | 11 | -4.2% | -8.2% to -1.7% | 9% | -8.9% to -1.5% | -1.5% |
Crosses above gamma max 9 completed Day +10 paths · latest Jun 26, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 9 | +1.4% | -3.3% to +2.4% | 67% | -3.8% to +3.1% | 0.0% |
| Day +2 | 9 | +0.0% | -2.0% to +3.4% | 56% | -3.4% to +4.9% | 0.0% |
| Day +3 | 9 | -0.9% | -3.5% to +4.5% | 44% | -6.3% to +6.7% | 0.0% |
| Day +4 | 9 | -3.1% | -6.0% to +0.8% | 33% | -8.1% to +3.5% | 0.0% |
| Day +5 | 9 | -3.1% | -3.5% to 0.0% | 22% | -8.9% to +1.5% | 0.0% |
| Day +6 | 9 | -4.4% | -7.9% to -1.4% | 22% | -13.4% to +4.1% | 0.0% |
| Day +7 | 9 | -4.6% | -8.7% to -0.7% | 22% | -15.9% to +3.1% | 0.0% |
| Day +8 | 9 | -5.9% | -7.1% to -2.2% | 22% | -17.3% to +4.8% | 0.0% |
| Day +9 | 9 | -4.0% | -10.6% to -2.2% | 22% | -15.0% to +2.8% | 0.0% |
| Day +10 | 9 | -3.0% | -11.8% to -2.3% | 22% | -16.9% to +4.5% | 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 | 3% |
| Gamma max crosses | 12 |
| Delta neutral crosses | 18 |
| Prior-year sessions closer to gamma max | 59.1% of 252 |
| Prior-year sessions closer to delta neutral | 62.7% of 252 |
| Open interest percentile (1y) | 99th |
| Daily open interest change versus prior year | -0.30σ (-3,850 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +4.3% |
| Open interest change, 21 sessions | +7.0% |
| History available | Sep 3, 2024 → Oct 2, 2026 |
Recent crosses
- closed above delta neutral at 13.94 vs 13.44 (+3.6%)
- closed below delta neutral at 13.54 vs 13.62 (-0.6%)
- closed above delta neutral at 14.58 vs 14.50 (+0.5%)
- closed below delta neutral at 16.21 vs 16.31 (-0.6%)
- closed below gamma max at 17.82 vs 18.25 (-2.4%)
- closed above gamma max at 17.64 vs 17.47 (+0.9%)
- closed above delta neutral at 17.95 vs 17.07 (+5.0%)
- closed below delta neutral at 16.79 vs 17.03 (-1.4%)
- closed above delta neutral at 17.77 vs 17.41 (+2.0%)
- closed below delta neutral at 20.97 vs 21.08 (-0.5%)
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/QXO
Questions people ask about QXO
Where is QXO's gamma max today?
As of Oct 2, 2026, the gamma max for QXO is 14.34, +18.9% from the 12.06 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 QXO above or below its delta neutral price?
QXO closed above delta neutral: 12.06 against a delta neutral price of 10.67. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does QXO have?
669,277 contracts of open interest across 435 listed contracts on Oct 2, 2026, -0.6% 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.