SLS max pain, gamma exposure (GEX) & options open interest
As of close · rank #104 by open interest · 1,101 sessions of history since Dec 24, 2020
SLS's nearest-expiration max pain is 11.50 for 2026-10-09, its GEX flip is 9.60, net GEX is 4,878,309, its put/call open-interest ratio is 0.49. 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: 7d expected move +13.9% · smile convexity 15.6 pp
SLS closed 34.2% below its gamma max of 15.76. It is 37.6% above the delta neutral price of 7.33. Total open interest is 958,390, -2.6% versus the previous session. Its options catalyst-intensity score is 47.7 out of 100, led by 7d expected move +13.9%, smile convexity 15.6 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 | -18,983 contracts · -2.9% |
| Put OI change, 1 session | -7,101 contracts · -2.2% |
| Call minus put OI growth, 1 session | -0.7 pp |
| Call OI change, 5 sessions | -4,462 contracts · -0.7% |
| Put OI change, 5 sessions | +5,333 contracts · +1.7% |
| Call minus put OI growth, 5 sessions | -2.4 pp |
| Daily call OI change surprise | -0.97σ (252 prior changes) |
| Daily put OI change surprise | -0.88σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.16σ (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 34 completed Day +10 paths · latest Jul 20, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 34 | +0.8% | -3.6% to +3.1% | 56% | -0.8% to +1.7% | 0.0% |
| Day +2 | 34 | -0.6% | -4.8% to +5.8% | 44% | -3.2% to +2.3% | 0.0% |
| Day +3 | 34 | -0.7% | -2.9% to +5.7% | 41% | -1.6% to +4.8% | 0.0% |
| Day +4 | 34 | -0.7% | -6.6% to +4.9% | 47% | -4.0% to +3.1% | 0.0% |
| Day +5 | 34 | -0.6% | -4.0% to +6.0% | 44% | -2.5% to +3.2% | 0.0% |
| Day +6 | 34 | -0.4% | -4.6% to +11.5% | 50% | -4.1% to +8.1% | 0.0% |
| Day +7 | 34 | +0.1% | -6.9% to +13.3% | 50% | -2.8% to +10.0% | 0.0% |
| Day +8 | 34 | -0.4% | -9.0% to +12.2% | 47% | -5.9% to +4.1% | 0.0% |
| Day +9 | 34 | +0.9% | -9.6% to +12.0% | 53% | -4.9% to +4.9% | 0.0% |
| Day +10 | 34 | -0.4% | -5.8% to +12.7% | 50% | -4.6% to +5.2% | 0.0% |
Crosses above gamma max 25 completed Day +10 paths · latest Jun 25, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 25 | +0.8% | -3.0% to +2.3% | 52% | -2.7% to +1.9% | 0.0% |
| Day +2 | 25 | -1.6% | -5.6% to +5.9% | 40% | -4.4% to +5.4% | 0.0% |
| Day +3 | 25 | -2.7% | -6.6% to +7.0% | 40% | -6.1% to +6.6% | 0.0% |
| Day +4 | 25 | -0.4% | -4.9% to +7.0% | 48% | -4.7% to +6.6% | 0.0% |
| Day +5 | 25 | 0.0% | -5.7% to +9.3% | 44% | -4.9% to +9.0% | 0.0% |
| Day +6 | 25 | -1.9% | -4.8% to +11.3% | 40% | -4.4% to +7.3% | 0.0% |
| Day +7 | 25 | -0.8% | -7.2% to +9.7% | 44% | -6.9% to +8.3% | 0.0% |
| Day +8 | 25 | -1.6% | -5.9% to +5.3% | 40% | -5.8% to +4.2% | 0.0% |
| Day +9 | 25 | 0.0% | -6.1% to +5.8% | 48% | -4.8% to +5.1% | 0.0% |
| Day +10 | 25 | +2.6% | -5.6% to +10.5% | 56% | -3.9% 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 | 66% |
| Gamma max crosses | 17 |
| Delta neutral crosses | 0 |
| Prior-year sessions closer to gamma max | 63.5% of 252 |
| Prior-year sessions closer to delta neutral | 8.3% of 252 |
| Open interest percentile (1y) | 88th |
| Daily open interest change versus prior year | -1.01σ (-26,084 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +0.1% |
| Open interest change, 21 sessions | -6.5% |
| History available | Dec 24, 2020 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 13.21 vs 15.07 (-14.1%)
- closed above gamma max at 15.21 vs 15.18 (+0.2%)
- closed below gamma max at 12.48 vs 13.66 (-9.5%)
- closed above gamma max at 13.19 vs 12.76 (+3.3%)
- closed below gamma max at 15.45 vs 21.85 (-41.4%)
- closed above gamma max at 10.53 vs 9.84 (+6.5%)
- closed below gamma max at 7.75 vs 8.75 (-12.9%)
- closed above gamma max at 7.15 vs 7.13 (+0.2%)
- closed below gamma max at 7.98 vs 8.11 (-1.7%)
- closed above gamma max at 8.23 vs 8.01 (+2.6%)
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/SLS
Questions people ask about SLS
Where is SLS's gamma max today?
As of Oct 2, 2026, the gamma max for SLS is 15.76, +34.2% from the 11.74 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 SLS above or below its delta neutral price?
SLS closed above delta neutral: 11.74 against a delta neutral price of 7.33. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does SLS have?
958,390 contracts of open interest across 395 listed contracts on Oct 2, 2026, -2.6% 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.