RIG max pain, gamma exposure (GEX) & options open interest
As of close · rank #86 by open interest · 1,394 sessions of history since Dec 1, 2020
RIG's nearest-expiration max pain is 5.50 for 2026-10-09, its GEX flip is 4.97, net GEX is 4,217,971, its put/call open-interest ratio is 0.61. 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 -165.5 pp
RIG closed 34.6% below its gamma max of 6.96. It is 0.9% below the delta neutral price of 5.22. Total open interest is 1,168,283, -0.6% versus the previous session. Its options catalyst-intensity score is 29.6 out of 100, led by 25Δ risk reversal -165.5 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 | -3,942 contracts · -0.5% |
| Put OI change, 1 session | -2,681 contracts · -0.6% |
| Call minus put OI growth, 1 session | +0.1 pp |
| Call OI change, 5 sessions | +26,090 contracts · +3.7% |
| Put OI change, 5 sessions | +14,662 contracts · +3.4% |
| Call minus put OI growth, 5 sessions | +0.3 pp |
| Daily call OI change surprise | -0.12σ (252 prior changes) |
| Daily put OI change surprise | -0.21σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.08σ (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 37 completed Day +10 paths · latest May 20, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 37 | -0.3% | -2.7% to +3.5% | 43% | -1.8% to +1.4% | 0.0% |
| Day +2 | 37 | +1.7% | -3.2% to +4.7% | 54% | -2.4% to +3.7% | 0.0% |
| Day +3 | 37 | +1.1% | -2.4% to +6.1% | 57% | -1.1% to +4.2% | 0.0% |
| Day +4 | 37 | +3.5% | -4.0% to +5.2% | 57% | -1.7% to +4.6% | 0.0% |
| Day +5 | 37 | +2.4% | -5.8% to +9.3% | 59% | -2.0% to +4.9% | 0.0% |
| Day +6 | 37 | +2.6% | -4.8% to +7.7% | 57% | -0.7% to +5.5% | 0.0% |
| Day +7 | 37 | +1.0% | -4.9% to +7.5% | 54% | -1.1% to +3.6% | 0.0% |
| Day +8 | 37 | +2.0% | -5.8% to +8.1% | 54% | -3.2% to +6.0% | 0.0% |
| Day +9 | 37 | -1.0% | -6.6% to +9.4% | 46% | -4.7% to +6.2% | 0.0% |
| Day +10 | 37 | +0.7% | -9.2% to +8.9% | 54% | -3.2% to +5.4% | 0.0% |
Crosses above gamma max 37 completed Day +10 paths · latest May 18, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 37 | -0.5% | -2.4% to +1.4% | 43% | -1.7% to +0.3% | 0.0% |
| Day +2 | 37 | -0.2% | -3.2% to +2.7% | 49% | -1.9% to +0.7% | 0.0% |
| Day +3 | 37 | -0.9% | -4.7% to +2.3% | 49% | -3.6% to +0.8% | 0.0% |
| Day +4 | 37 | -0.6% | -4.8% to +3.2% | 46% | -2.3% to +1.5% | 0.0% |
| Day +5 | 37 | -0.6% | -6.1% to +5.2% | 49% | -3.2% to +2.9% | 0.0% |
| Day +6 | 37 | -0.2% | -6.9% to +7.2% | 43% | -3.4% to +4.5% | 0.0% |
| Day +7 | 37 | -2.3% | -6.4% to +5.5% | 46% | -4.0% to +3.1% | 0.0% |
| Day +8 | 37 | -1.2% | -7.3% to +7.0% | 49% | -3.4% to +2.8% | 0.0% |
| Day +9 | 37 | +0.3% | -8.1% to +5.3% | 51% | -5.0% to +2.9% | 0.0% |
| Day +10 | 37 | -1.2% | -10.3% to +6.5% | 49% | -6.1% to +6.0% | 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 | 8% |
| Gamma max crosses | 18 |
| Delta neutral crosses | 7 |
| Prior-year sessions closer to gamma max | 85.7% of 252 |
| Prior-year sessions closer to delta neutral | 2.8% of 252 |
| Open interest percentile (1y) | 18th |
| Daily open interest change versus prior year | -0.16σ (-6,623 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +3.6% |
| Open interest change, 21 sessions | -1.8% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 5.17 vs 5.22 (-0.9%)
- closed above delta neutral at 5.24 vs 5.23 (+0.2%)
- closed below delta neutral at 5.21 vs 5.23 (-0.4%)
- closed above delta neutral at 5.94 vs 5.59 (+5.8%)
- closed below delta neutral at 5.45 vs 5.50 (-1.0%)
- closed above delta neutral at 5.72 vs 5.51 (+3.6%)
- closed below delta neutral at 5.28 vs 5.41 (-2.4%)
- closed below gamma max at 7.34 vs 7.51 (-2.4%)
- closed above gamma max at 7.58 vs 7.46 (+1.6%)
- closed below gamma max at 6.48 vs 6.72 (-3.8%)
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/RIG
Questions people ask about RIG
Where is RIG's gamma max today?
As of Oct 2, 2026, the gamma max for RIG is 6.96, +34.6% from the 5.17 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 RIG above or below its delta neutral price?
RIG closed below delta neutral: 5.17 against a delta neutral price of 5.22. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does RIG have?
1,168,283 contracts of open interest across 225 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.