REI max pain, gamma exposure (GEX) & options open interest
As of close · rank #577 by open interest · 1,287 sessions of history since Feb 8, 2021
REI's nearest-expiration max pain is 1.00 for 2026-10-16, net GEX is 10,661,037, its put/call open-interest ratio is 0.04. 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: OI change 0.07σ · 25Δ risk reversal 15.7 pp
REI closed 6.8% below its gamma max of 1.40. It is 57.7% above the delta neutral price of 0.55. Total open interest is 121,080, +0.4% versus the previous session. Its options catalyst-intensity score is 39.1 out of 100, led by OI change 0.07σ, 25Δ risk reversal 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 | +309 contracts · +0.3% |
| Put OI change, 1 session | +190 contracts · +4.5% |
| Call minus put OI growth, 1 session | -4.2 pp |
| Call OI change, 5 sessions | +1,160 contracts · +1.0% |
| Put OI change, 5 sessions | +170 contracts · +4.0% |
| Call minus put OI growth, 5 sessions | -3.0 pp |
| Daily call OI change surprise | +0.05σ (252 prior changes) |
| Daily put OI change surprise | +0.31σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.69σ (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 46 completed Day +10 paths · latest Sep 21, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 47 | 0.0% | -2.4% to +3.1% | 49% | -0.8% to +1.5% | 0.0% |
| Day +2 | 47 | +1.0% | -2.5% to +5.2% | 53% | -0.9% to +3.2% | 0.0% |
| Day +3 | 47 | +1.5% | -2.8% to +6.4% | 60% | 0.0% to +3.4% | 0.0% |
| Day +4 | 47 | +0.5% | -4.0% to +5.8% | 51% | -1.4% to +4.0% | 0.0% |
| Day +5 | 47 | +1.3% | -5.3% to +10.3% | 53% | -2.8% to +3.6% | 0.0% |
| Day +6 | 47 | +2.3% | -5.2% to +6.8% | 51% | -2.0% to +4.0% | 0.0% |
| Day +7 | 47 | +1.7% | -4.0% to +8.7% | 51% | -2.2% to +5.2% | 0.0% |
| Day +8 | 47 | +1.7% | -5.6% to +12.2% | 57% | -3.4% to +8.0% | 0.0% |
| Day +9 | 47 | +0.3% | -6.8% to +12.7% | 51% | -3.0% to +6.1% | 0.0% |
| Day +10 | 46 | +2.5% | -8.0% to +12.3% | 54% | -2.7% to +10.3% | 0.0% |
Crosses above gamma max 46 completed Day +10 paths · latest Sep 18, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 46 | +0.2% | -1.1% to +2.9% | 50% | -0.7% to +1.7% | 0.0% |
| Day +2 | 46 | +0.6% | -2.3% to +4.9% | 57% | -0.6% to +2.3% | 0.0% |
| Day +3 | 46 | +0.8% | -3.4% to +5.6% | 59% | -1.4% to +2.2% | 0.0% |
| Day +4 | 46 | +1.2% | -3.0% to +6.1% | 54% | -1.3% to +3.9% | 0.0% |
| Day +5 | 46 | +1.9% | -3.2% to +7.2% | 59% | -0.8% to +4.5% | 0.0% |
| Day +6 | 46 | +1.6% | -3.4% to +7.8% | 57% | -0.9% to +4.2% | 0.0% |
| Day +7 | 46 | 0.0% | -3.8% to +9.5% | 48% | -1.9% to +6.1% | 0.0% |
| Day +8 | 46 | +2.1% | -3.0% to +10.5% | 61% | -0.7% to +5.9% | 0.0% |
| Day +9 | 46 | +0.7% | -3.2% to +9.4% | 52% | -1.4% to +7.0% | 0.0% |
| Day +10 | 46 | +1.1% | -5.7% to +11.5% | 57% | -2.7% to +7.4% | 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 | 45% |
| Gamma max crosses | 39 |
| Delta neutral crosses | 0 |
| Prior-year sessions closer to gamma max | 50.4% of 252 |
| Prior-year sessions closer to delta neutral | 34.1% of 252 |
| Open interest percentile (1y) | 69th |
| Daily open interest change versus prior year | +0.07σ (499 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +1.1% |
| Open interest change, 21 sessions | -6.4% |
| History available | Feb 8, 2021 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 1.38 vs 1.43 (-3.4%)
- closed above gamma max at 1.46 vs 1.38 (+5.5%)
- closed below gamma max at 1.46 vs 1.49 (-1.8%)
- closed above gamma max at 1.52 vs 1.49 (+1.8%)
- closed below gamma max at 1.50 vs 1.52 (-1.0%)
- closed above gamma max at 1.50 vs 1.46 (+2.5%)
- closed below gamma max at 1.45 vs 1.50 (-3.4%)
- closed above gamma max at 1.49 vs 1.48 (+0.6%)
- closed below gamma max at 1.40 vs 1.49 (-6.7%)
- closed above gamma max at 1.37 vs 1.34 (+2.3%)
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/REI
Questions people ask about REI
Where is REI's gamma max today?
As of Oct 2, 2026, the gamma max for REI is 1.40, +6.8% from the 1.31 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 REI above or below its delta neutral price?
REI closed above delta neutral: 1.31 against a delta neutral price of 0.55. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does REI have?
121,080 contracts of open interest across 34 listed contracts on Oct 2, 2026, +0.4% 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.