SCHW max pain, gamma exposure (GEX) & options open interest
As of close · rank #218 by open interest · 1,394 sessions of history since Dec 1, 2020
SCHW's nearest-expiration max pain is 100.00 for 2026-10-09, its GEX flip is 98.32, net GEX is -4,968,698, its put/call open-interest ratio is 0.91. 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: smile convexity 23.2 pp · IV rank 96
SCHW closed 17.1% below its gamma max of 113.21. It is 1.5% below the delta neutral price of 98.14. Total open interest is 467,845, -4.5% versus the previous session. Its options catalyst-intensity score is 52.0 out of 100, led by smile convexity 23.2 pp, IV rank 96. 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 | -8,013 contracts · -3.2% |
| Put OI change, 1 session | -14,171 contracts · -6.0% |
| Call minus put OI growth, 1 session | +2.8 pp |
| Call OI change, 5 sessions | +10,313 contracts · +4.4% |
| Put OI change, 5 sessions | -868 contracts · -0.4% |
| Call minus put OI growth, 5 sessions | +4.8 pp |
| Daily call OI change surprise | -0.62σ (252 prior changes) |
| Daily put OI change surprise | -0.85σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.69σ (252 prior changes) |
History
Hover for valuesDrag to panScroll to zoomClick a series to hide it ← → step a session+ − zoomTouch: swipe to pan, pinch to zoom, hold for the crosshair
Analysis visualizations
Derived from the 2026-10-02 options chain. Select an analysis to explore its chart.
No matching visualizations.
Gamma walls
Chart loads when this section is in view.
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 32 completed Day +10 paths · latest Aug 18, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 32 | -0.4% | -1.0% to +0.6% | 41% | -0.8% to +0.4% | 0.0% |
| Day +2 | 32 | -0.7% | -1.7% to +0.1% | 28% | -1.4% to -0.1% | -0.1% |
| Day +3 | 32 | -0.3% | -1.3% to +0.7% | 44% | -1.2% to +0.4% | 0.0% |
| Day +4 | 32 | -0.1% | -1.4% to +1.1% | 50% | -1.1% to +0.6% | 0.0% |
| Day +5 | 32 | -0.3% | -1.5% to +2.0% | 47% | -1.4% to +1.1% | 0.0% |
| Day +6 | 32 | -0.1% | -1.8% to +1.8% | 44% | -1.6% to +1.1% | 0.0% |
| Day +7 | 32 | -0.0% | -1.9% to +2.3% | 50% | -1.1% to +2.0% | 0.0% |
| Day +8 | 32 | +0.3% | -1.3% to +2.5% | 53% | -1.0% to +2.0% | 0.0% |
| Day +9 | 32 | -0.2% | -1.9% to +2.8% | 47% | -0.9% to +1.5% | 0.0% |
| Day +10 | 32 | +0.6% | -2.8% to +3.0% | 53% | -1.7% to +2.0% | 0.0% |
Crosses above gamma max 33 completed Day +10 paths · latest Aug 13, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 33 | +0.2% | -0.8% to +1.2% | 55% | -0.3% to +0.9% | 0.0% |
| Day +2 | 33 | +0.5% | -0.7% to +1.5% | 61% | -0.4% to +1.1% | 0.0% |
| Day +3 | 33 | +0.5% | -1.8% to +1.8% | 52% | -0.8% to +1.3% | 0.0% |
| Day +4 | 33 | +0.3% | -1.5% to +2.5% | 55% | -1.0% to +1.4% | 0.0% |
| Day +5 | 33 | +0.7% | -1.5% to +2.1% | 52% | -0.8% to +1.2% | 0.0% |
| Day +6 | 33 | +1.2% | -0.3% to +2.5% | 67% | +0.1% to +1.8% | +0.1% |
| Day +7 | 33 | +0.8% | -1.2% to +2.8% | 58% | -0.4% to +2.2% | 0.0% |
| Day +8 | 33 | +1.4% | -0.9% to +2.6% | 58% | -0.6% to +2.3% | 0.0% |
| Day +9 | 33 | +1.3% | -0.1% to +3.0% | 73% | +0.1% to +2.6% | +0.1% |
| Day +10 | 33 | +0.8% | -1.6% to +2.7% | 61% | -0.4% to +2.2% | 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 | 6% |
| Gamma max crosses | 10 |
| Delta neutral crosses | 21 |
| Prior-year sessions closer to gamma max | 94.4% of 252 |
| Prior-year sessions closer to delta neutral | 24.2% of 252 |
| Open interest percentile (1y) | 78th |
| Daily open interest change versus prior year | -0.78σ (-22,184 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +2.1% |
| Open interest change, 21 sessions | -1.5% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 97.74 vs 98.52 (-0.8%)
- closed above delta neutral at 99.10 vs 98.93 (+0.2%)
- closed below delta neutral at 99.03 vs 99.03 (-0.0%)
- closed below gamma max at 111.68 vs 113.20 (-1.4%)
- closed above gamma max at 110.06 vs 109.94 (+0.1%)
- closed below gamma max at 107.66 vs 107.90 (-0.2%)
- closed above gamma max at 108.02 vs 107.85 (+0.2%)
- closed below gamma max at 103.12 vs 103.81 (-0.7%)
- closed above gamma max at 100.62 vs 100.05 (+0.6%)
- closed above delta neutral at 91.10 vs 90.13 (+1.1%)
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/SCHW
Questions people ask about SCHW
Where is SCHW's gamma max today?
As of Oct 2, 2026, the gamma max for SCHW is 113.21, +17.1% from the 96.70 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 SCHW above or below its delta neutral price?
SCHW closed below delta neutral: 96.70 against a delta neutral price of 98.14. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does SCHW have?
467,845 contracts of open interest across 714 listed contracts on Oct 2, 2026, -4.5% 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.