# RARE: options-positioning snapshot

Canonical: https://halfonadouble.com/stock/RARE
Data through: 2026-10-02 close
Publisher: Half on a Double

| Published field | Value |
| --- | --- |
| Close (USD/share) | 15.22 |
| Delta neutral (USD/share) | 13.45 |
| Gamma neutral (USD/share) | 15.22 |
| Gamma max (USD/share) | 16.86 |
| Open interest (contracts) | 138,136 |
| Nearest-expiration max pain (USD/share) | 13.50 (2026-10-09) |
| All-expiration max pain (USD/share) | 15.00 |
| Net gamma exposure | 3,342,630 |
| Call wall (USD/share) | 15.00 |
| Put wall (USD/share) | 15.00 |
| Put/call open-interest ratio | 0.33 |
| Options catalyst-intensity score (0–100) | 69.3 |
| Options directional score (-100 to +100) | -7.3 |
| IV rank | 93.1 |
| Front ATM IV | +59.3% |
| Front-minus-back IV | -3.7 pp |
| Front expected move | +8.2% |
| Front ATM straddle / spot | +9.0% |
| Front 25-delta risk reversal | 31.5 pp |
| Call OI change, 1 session | +300 contracts · +0.3% |
| Put OI change, 1 session | +706 contracts · +2.1% |
| Call minus put OI growth, 1 session | -1.8 pp |
| Call OI change, 5 sessions | +110 contracts · +0.1% |
| Put OI change, 5 sessions | +1,021 contracts · +3.1% |
| Call minus put OI growth, 5 sessions | -3.0 pp |
| Daily call OI change surprise | +0.01σ (252 prior changes) |
| Daily put OI change surprise | +0.25σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.23σ (252 prior changes) |
| Daily open interest change (contracts) | 1,006 |
| Daily open interest change z-score (prior 252) | +0.13σ (252 prior changes) |
| Gamma max distance from close | +10.8% |
| Delta neutral distance from close | -11.6% |
| Prior-year sessions closer to gamma max | 34.9% of 252 |
| Prior-year sessions closer to delta neutral | 38.5% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 23 | +1.1% | -0.2% to +2.2% | 65% | -0.0% to +1.9% | 0.0% |
| above | Day +3 | 23 | +2.0% | +0.5% to +4.1% | 78% | +0.6% to +3.3% | +0.6% |
| above | Day +5 | 23 | -1.0% | -3.8% to +4.4% | 43% | -2.5% to +1.6% | 0.0% |
| above | Day +10 | 23 | -5.0% | -10.5% to +3.8% | 39% | -9.3% to +1.9% | 0.0% |
| below | Day +1 | 22 | -0.2% | -1.5% to +2.1% | 45% | -1.4% to +1.9% | 0.0% |
| below | Day +3 | 22 | +0.6% | -3.1% to +3.6% | 50% | -1.3% to +3.6% | 0.0% |
| below | Day +5 | 22 | -2.7% | -7.7% to +2.7% | 45% | -5.4% to +2.4% | 0.0% |
| below | Day +10 | 22 | -4.0% | -11.3% to +3.8% | 32% | -10.8% to +3.0% | 0.0% |

Returns are close-to-close after the labelled number of subsequent trading sessions. Cohorts require gamma max to be within 10% of the close on both crossing sessions. Historical windows can overlap and are not independent observations, so interval coverage is not guaranteed.

- [Machine-readable snapshot](https://halfonadouble.com/api/v1/tickers/RARE.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/RARE.csv)
- [Complete advanced analysis](https://halfonadouble.com/api/v1/analysis/RARE.json?date=2026-10-02)

An em dash means unavailable, not zero. Values use the same display rounding as the HTML page. This is a current snapshot; full history and individual event paths are on the canonical page.

[Definitions and limitations](https://halfonadouble.com/methodology.md).