SNOW max pain, gamma exposure (GEX) & options open interest
As of close · rank #189 by open interest · 1,394 sessions of history since Dec 1, 2020
SNOW's nearest-expiration max pain is 340.00 for 2026-10-09, its GEX flip is 312.20, net GEX is 7,696,349, 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 -12.9 pp · volume/OI 0.07
SNOW closed 9.7% below its gamma max of 374.25. It is 12.1% above the delta neutral price of 299.62. Total open interest is 540,450, -5.4% versus the previous session. Its options catalyst-intensity score is 55.7 out of 100, led by smile convexity -12.9 pp, volume/OI 0.07. 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 | -19,910 contracts · -6.6% |
| Put OI change, 1 session | -10,729 contracts · -4.0% |
| Call minus put OI growth, 1 session | -2.6 pp |
| Call OI change, 5 sessions | +4,298 contracts · +1.5% |
| Put OI change, 5 sessions | +8,264 contracts · +3.3% |
| Call minus put OI growth, 5 sessions | -1.8 pp |
| Daily call OI change surprise | -1.06σ (252 prior changes) |
| Daily put OI change surprise | -0.87σ (252 prior changes) |
| Daily call-minus-put growth surprise | -1.17σ (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 21 completed Day +10 paths · latest Sep 4, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 21 | +0.2% | -0.9% to +1.5% | 52% | -0.7% to +1.3% | 0.0% |
| Day +2 | 21 | -0.5% | -1.7% to +1.5% | 43% | -1.5% to +1.3% | 0.0% |
| Day +3 | 21 | -0.2% | -6.0% to +1.1% | 43% | -5.6% to +1.1% | 0.0% |
| Day +4 | 21 | -2.5% | -6.1% to +3.4% | 43% | -5.5% to +2.8% | 0.0% |
| Day +5 | 21 | -1.6% | -5.5% to +3.0% | 38% | -5.1% to +1.1% | 0.0% |
| Day +6 | 21 | -0.8% | -5.5% to +4.5% | 43% | -4.2% to +2.2% | 0.0% |
| Day +7 | 21 | -0.9% | -5.8% to +2.4% | 48% | -5.4% to +1.9% | 0.0% |
| Day +8 | 21 | +0.1% | -6.2% to +3.2% | 52% | -5.9% to +2.5% | 0.0% |
| Day +9 | 21 | -0.8% | -5.9% to +2.1% | 48% | -4.8% to +1.7% | 0.0% |
| Day +10 | 21 | +0.7% | -6.4% to +2.4% | 57% | -5.4% to +2.4% | 0.0% |
Crosses above gamma max 17 completed Day +10 paths · latest Jul 30, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 17 | -0.9% | -2.7% to +0.2% | 29% | -2.7% to +0.2% | 0.0% |
| Day +2 | 17 | -0.5% | -2.7% to +1.1% | 47% | -2.7% to +1.1% | 0.0% |
| Day +3 | 17 | -0.8% | -3.5% to +1.1% | 41% | -3.5% to +1.1% | 0.0% |
| Day +4 | 17 | -0.4% | -4.0% to +1.6% | 41% | -4.0% to +1.6% | 0.0% |
| Day +5 | 17 | -3.2% | -7.8% to +2.7% | 41% | -7.8% to +2.7% | 0.0% |
| Day +6 | 17 | -2.7% | -8.9% to +0.7% | 35% | -8.9% to +0.7% | 0.0% |
| Day +7 | 17 | -0.9% | -9.0% to +2.8% | 35% | -9.0% to +2.8% | 0.0% |
| Day +8 | 17 | -1.1% | -6.7% to +2.4% | 41% | -6.7% to +2.4% | 0.0% |
| Day +9 | 17 | -0.8% | -7.3% to +0.9% | 41% | -7.3% to +0.9% | 0.0% |
| Day +10 | 17 | -1.7% | -7.2% to +0.0% | 29% | -7.2% to +0.0% | 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 | 2% |
| Gamma max crosses | 11 |
| Delta neutral crosses | 20 |
| Prior-year sessions closer to gamma max | 54.4% of 252 |
| Prior-year sessions closer to delta neutral | 56.7% of 252 |
| Open interest percentile (1y) | 66th |
| Daily open interest change versus prior year | -1.00σ (-30,639 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +2.4% |
| Open interest change, 21 sessions | -3.8% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 337.18 vs 351.21 (-4.2%)
- closed above gamma max at 356.47 vs 348.75 (+2.2%)
- closed below gamma max at 293.28 vs 312.96 (-6.7%)
- closed above gamma max at 298.10 vs 297.66 (+0.1%)
- closed below gamma max at 261.55 vs 284.33 (-8.7%)
- closed above gamma max at 280.38 vs 273.08 (+2.6%)
- closed below gamma max at 255.55 vs 256.98 (-0.6%)
- closed above gamma max at 238.80 vs 217.55 (+8.9%)
- closed above delta neutral at 153.72 vs 145.40 (+5.4%)
- closed below delta neutral at 146.40 vs 148.11 (-1.2%)
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/SNOW
Questions people ask about SNOW
Where is SNOW's gamma max today?
As of Oct 2, 2026, the gamma max for SNOW is 374.25, +9.7% from the 341.04 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 SNOW above or below its delta neutral price?
SNOW closed above delta neutral: 341.04 against a delta neutral price of 299.62. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does SNOW have?
540,450 contracts of open interest across 1,404 listed contracts on Oct 2, 2026, -5.4% 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.