SBET max pain, gamma exposure (GEX) & options open interest
As of close · rank #150 by open interest · 326 sessions of history since Jun 18, 2025
SBET's nearest-expiration max pain is 9.00 for 2026-10-09, its GEX flip is 1.67, net GEX is 20,933,576, its put/call open-interest ratio is 0.27. 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 -23.4 pp
SBET closed 10.2% below its gamma max of 10.30. It is 37.4% above the delta neutral price of 5.86. Total open interest is 679,109, -2.0% versus the previous session. Its options catalyst-intensity score is 43.0 out of 100, led by 25Δ risk reversal -23.4 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 | -7,350 contracts · -1.4% |
| Put OI change, 1 session | -6,266 contracts · -4.2% |
| Call minus put OI growth, 1 session | +2.8 pp |
| Call OI change, 5 sessions | +4,949 contracts · +0.9% |
| Put OI change, 5 sessions | +4,121 contracts · +3.0% |
| Call minus put OI growth, 5 sessions | -2.0 pp |
| Daily call OI change surprise | -0.23σ (252 prior changes) |
| Daily put OI change surprise | -0.57σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.58σ (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 6 completed Day +10 paths · latest Sep 18, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 6 | -1.2% | -2.8% to +0.6% | 50% | -4.7% to +6.7% | 0.0% |
| Day +2 | 6 | -2.4% | -7.0% to +6.9% | 33% | -22.7% to +28.7% | 0.0% |
| Day +3 | 6 | -5.7% | -7.1% to +2.4% | 33% | -32.7% to +34.8% | 0.0% |
| Day +4 | 6 | -0.8% | -6.1% to +5.3% | 50% | -26.9% to +46.0% | 0.0% |
| Day +5 | 6 | +0.4% | -6.8% to +2.9% | 50% | -31.2% to +71.0% | 0.0% |
| Day +6 | 6 | -1.7% | -8.1% to +0.9% | 33% | -37.8% to +88.6% | 0.0% |
| Day +7 | 6 | -0.6% | -7.0% to +2.0% | 50% | -41.4% to +128.8% | 0.0% |
| Day +8 | 6 | -1.6% | -9.9% to -0.3% | 17% | -44.2% to +196.3% | 0.0% |
| Day +9 | 6 | -2.4% | -8.4% to +1.6% | 33% | -49.1% to +187.5% | 0.0% |
| Day +10 | 6 | -1.6% | -7.4% to +0.6% | 33% | -47.9% to +128.9% | 0.0% |
Crosses above gamma max 7 completed Day +10 paths · latest Sep 8, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 7 | +2.4% | +1.5% to +4.0% | 86% | -3.2% to +7.2% | 0.0% |
| Day +2 | 7 | +0.6% | -4.1% to +7.3% | 57% | -4.4% to +13.4% | 0.0% |
| Day +3 | 7 | +0.5% | -3.0% to +8.7% | 57% | -4.9% to +32.9% | 0.0% |
| Day +4 | 7 | +0.7% | -3.8% to +10.8% | 57% | -5.4% to +46.6% | 0.0% |
| Day +5 | 7 | +0.6% | -3.3% to +10.7% | 57% | -5.6% to +77.8% | 0.0% |
| Day +6 | 7 | -0.9% | -7.5% to +15.2% | 43% | -15.0% to +130.3% | 0.0% |
| Day +7 | 7 | -0.3% | -6.8% to +7.9% | 29% | -13.9% to +123.4% | 0.0% |
| Day +8 | 7 | +4.4% | -3.5% to +14.0% | 57% | -21.3% to +77.9% | 0.0% |
| Day +9 | 7 | +0.8% | -4.9% to +14.1% | 57% | -16.7% to +55.0% | 0.0% |
| Day +10 | 7 | +1.3% | -5.1% to +15.2% | 57% | -22.8% to +68.2% | 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 | 12 |
| Delta neutral crosses | 24 |
| Prior-year sessions closer to gamma max | 28.6% of 252 |
| Prior-year sessions closer to delta neutral | 93.7% of 252 |
| Open interest percentile (1y) | 69th |
| Daily open interest change versus prior year | -0.33σ (-13,616 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +1.4% |
| Open interest change, 21 sessions | +10.5% |
| History available | Jun 18, 2025 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 9.35 vs 9.97 (-6.7%)
- closed above gamma max at 8.82 vs 8.12 (+7.9%)
- closed below gamma max at 8.98 vs 9.04 (-0.7%)
- closed above gamma max at 8.10 vs 6.98 (+13.8%)
- closed below gamma max at 8.15 vs 8.97 (-10.1%)
- closed above gamma max at 7.08 vs 6.77 (+4.4%)
- closed below gamma max at 6.44 vs 6.60 (-2.5%)
- closed above gamma max at 6.38 vs 6.32 (+0.9%)
- closed below gamma max at 6.27 vs 6.41 (-2.2%)
- closed above gamma max at 6.14 vs 5.99 (+2.5%)
In today's screens
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Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/SBET
Questions people ask about SBET
Where is SBET's gamma max today?
As of Oct 2, 2026, the gamma max for SBET is 10.30, +10.2% from the 9.35 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 SBET above or below its delta neutral price?
SBET closed above delta neutral: 9.35 against a delta neutral price of 5.86. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does SBET have?
679,109 contracts of open interest across 271 listed contracts on Oct 2, 2026, -2.0% 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.