SE max pain, gamma exposure (GEX) & options open interest
As of close · rank #380 by open interest · 1,394 sessions of history since Dec 1, 2020
SE's nearest-expiration max pain is 95.00 for 2026-10-09, its GEX flip is 96.44, net GEX is -615,420, its put/call open-interest ratio is 0.65. 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 0.05σ · IV rank 93
SE closed 33.3% below its gamma max of 126.88. It is 3.7% below the delta neutral price of 98.69. Total open interest is 221,543, +0.2% versus the previous session. Its options catalyst-intensity score is 41.6 out of 100, led by OI change 0.05σ, IV rank 93. 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 | +948 contracts · +0.7% |
| Put OI change, 1 session | -536 contracts · -0.6% |
| Call minus put OI growth, 1 session | +1.3 pp |
| Call OI change, 5 sessions | +5,740 contracts · +4.5% |
| Put OI change, 5 sessions | +1,227 contracts · +1.4% |
| Call minus put OI growth, 5 sessions | +3.0 pp |
| Daily call OI change surprise | +0.12σ (252 prior changes) |
| Daily put OI change surprise | -0.05σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.34σ (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 26 completed Day +10 paths · latest Aug 13, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 26 | -0.3% | -1.8% to +1.6% | 42% | -1.2% to +1.4% | 0.0% |
| Day +2 | 26 | -0.3% | -3.1% to +2.1% | 50% | -2.5% to +1.9% | 0.0% |
| Day +3 | 26 | -0.1% | -4.4% to +1.9% | 50% | -4.0% to +1.1% | 0.0% |
| Day +4 | 26 | -0.7% | -4.8% to +1.5% | 38% | -3.4% to +0.9% | 0.0% |
| Day +5 | 26 | -0.1% | -4.4% to +1.5% | 50% | -3.9% to +1.2% | 0.0% |
| Day +6 | 26 | -0.6% | -4.0% to +2.3% | 46% | -3.2% to +1.4% | 0.0% |
| Day +7 | 26 | -1.2% | -4.6% to +2.2% | 42% | -2.8% to +1.8% | 0.0% |
| Day +8 | 26 | -0.1% | -3.4% to +4.5% | 46% | -2.8% to +1.2% | 0.0% |
| Day +9 | 26 | -0.3% | -4.9% to +2.8% | 50% | -3.4% to +2.3% | 0.0% |
| Day +10 | 26 | +0.2% | -4.6% to +3.1% | 50% | -4.1% to +2.3% | 0.0% |
Crosses above gamma max 26 completed Day +10 paths · latest Aug 11, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 26 | +0.0% | -1.5% to +1.0% | 50% | -0.6% to +0.9% | 0.0% |
| Day +2 | 26 | +0.6% | -2.5% to +2.6% | 54% | -1.2% to +2.1% | 0.0% |
| Day +3 | 26 | -0.2% | -3.5% to +3.1% | 46% | -2.3% to +2.0% | 0.0% |
| Day +4 | 26 | +0.2% | -3.9% to +5.1% | 54% | -2.3% to +2.1% | 0.0% |
| Day +5 | 26 | +0.2% | -2.9% to +5.3% | 58% | -2.6% to +5.0% | 0.0% |
| Day +6 | 26 | -0.2% | -4.5% to +3.7% | 46% | -3.6% to +2.6% | 0.0% |
| Day +7 | 26 | -1.2% | -3.7% to +4.0% | 42% | -3.1% to +1.5% | 0.0% |
| Day +8 | 26 | -1.2% | -4.1% to +4.0% | 46% | -2.7% to +2.3% | 0.0% |
| Day +9 | 26 | -0.8% | -4.4% to +4.4% | 42% | -4.0% to +2.5% | 0.0% |
| Day +10 | 26 | -1.3% | -5.7% to +3.1% | 42% | -5.5% to +2.7% | 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 | 3% |
| Gamma max crosses | 8 |
| Delta neutral crosses | 21 |
| Prior-year sessions closer to gamma max | 83.7% of 252 |
| Prior-year sessions closer to delta neutral | 31.7% of 252 |
| Open interest percentile (1y) | 50th |
| Daily open interest change versus prior year | +0.05σ (412 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +3.2% |
| Open interest change, 21 sessions | -9.6% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 99.55 vs 99.59 (-0.0%)
- closed below gamma max at 123.32 vs 128.43 (-4.1%)
- closed above gamma max at 131.51 vs 126.08 (+4.1%)
- closed below gamma max at 110.66 vs 112.15 (-1.3%)
- closed above gamma max at 109.11 vs 108.47 (+0.6%)
- closed below gamma max at 105.31 vs 105.55 (-0.2%)
- closed above gamma max at 105.05 vs 103.25 (+1.7%)
- closed below gamma max at 103.30 vs 103.52 (-0.2%)
- closed above gamma max at 102.36 vs 99.15 (+3.1%)
- closed above delta neutral at 86.66 vs 84.61 (+2.4%)
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Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/SE
Questions people ask about SE
Where is SE's gamma max today?
As of Oct 2, 2026, the gamma max for SE is 126.88, +33.3% from the 95.19 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 SE above or below its delta neutral price?
SE closed below delta neutral: 95.19 against a delta neutral price of 98.69. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does SE have?
221,543 contracts of open interest across 814 listed contracts on Oct 2, 2026, +0.2% 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.