SOUN max pain, gamma exposure (GEX) & options open interest
As of close · rank #172 by open interest · 999 sessions of history since May 26, 2022
SOUN's nearest-expiration max pain is 6.00 for 2026-10-09, its GEX flip is 0.96, net GEX is 10,090,852, its put/call open-interest ratio is 0.34. 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.
SOUN closed 21.7% below its gamma max of 7.10. It is 1.7% below the delta neutral price of 5.94. Total open interest is 607,031, -4.4% versus the previous session. Its options catalyst-intensity score is 37.3 out of 100. 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 | -23,247 contracts · -4.9% |
| Put OI change, 1 session | -5,007 contracts · -3.2% |
| Call minus put OI growth, 1 session | -1.7 pp |
| Call OI change, 5 sessions | +6,086 contracts · +1.4% |
| Put OI change, 5 sessions | +6,046 contracts · +4.1% |
| Call minus put OI growth, 5 sessions | -2.8 pp |
| Daily call OI change surprise | -0.47σ (252 prior changes) |
| Daily put OI change surprise | -0.15σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.37σ (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 41 completed Day +10 paths · latest Aug 10, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 41 | -1.2% | -5.3% to +2.7% | 39% | -3.4% to +1.1% | 0.0% |
| Day +2 | 41 | -1.8% | -6.8% to +4.2% | 44% | -4.9% to +2.3% | 0.0% |
| Day +3 | 41 | -2.0% | -8.1% to +8.3% | 44% | -4.9% to +1.8% | 0.0% |
| Day +4 | 41 | -2.9% | -8.7% to +6.8% | 39% | -6.6% to +2.1% | 0.0% |
| Day +5 | 41 | -1.2% | -10.7% to +4.4% | 44% | -8.6% to +2.7% | 0.0% |
| Day +6 | 41 | +0.3% | -11.2% to +6.4% | 54% | -8.2% to +3.3% | 0.0% |
| Day +7 | 41 | -1.6% | -10.3% to +5.2% | 46% | -6.7% to +2.5% | 0.0% |
| Day +8 | 41 | -3.8% | -8.5% to +4.7% | 41% | -7.7% to +3.6% | 0.0% |
| Day +9 | 41 | -0.7% | -11.1% to +9.3% | 49% | -6.7% to +2.7% | 0.0% |
| Day +10 | 41 | -2.8% | -10.9% to +8.6% | 41% | -6.9% to +4.4% | 0.0% |
Crosses above gamma max 35 completed Day +10 paths · latest Aug 7, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 35 | -0.9% | -3.7% to +2.3% | 40% | -1.9% to +1.3% | 0.0% |
| Day +2 | 35 | -3.3% | -6.1% to +3.5% | 43% | -5.3% to +1.9% | 0.0% |
| Day +3 | 35 | -2.1% | -8.8% to +5.4% | 37% | -6.8% to +1.7% | 0.0% |
| Day +4 | 35 | -2.9% | -9.0% to +2.5% | 40% | -6.7% to +0.6% | 0.0% |
| Day +5 | 35 | -1.9% | -9.2% to +4.9% | 37% | -6.2% to +1.4% | 0.0% |
| Day +6 | 35 | -3.9% | -11.1% to +1.5% | 31% | -7.6% to -0.6% | -0.6% |
| Day +7 | 35 | -2.8% | -11.4% to +7.5% | 37% | -6.7% to +1.8% | 0.0% |
| Day +8 | 35 | -3.0% | -11.3% to +3.1% | 40% | -6.5% to +0.3% | 0.0% |
| Day +9 | 35 | -2.7% | -12.6% to +5.5% | 43% | -8.5% to +2.7% | 0.0% |
| Day +10 | 35 | -1.8% | -12.9% to +12.6% | 46% | -9.2% to +5.4% | 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 | 4% |
| Gamma max crosses | 13 |
| Delta neutral crosses | 23 |
| Prior-year sessions closer to gamma max | 82.1% of 252 |
| Prior-year sessions closer to delta neutral | 12.3% of 252 |
| Open interest percentile (1y) | 19th |
| Daily open interest change versus prior year | -0.36σ (-28,254 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +2.0% |
| Open interest change, 21 sessions | +5.4% |
| History available | May 26, 2022 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 5.84 vs 5.94 (-1.7%)
- closed above delta neutral at 6.02 vs 5.98 (+0.7%)
- closed below delta neutral at 5.83 vs 5.92 (-1.5%)
- closed above delta neutral at 7.32 vs 6.38 (+12.8%)
- closed below delta neutral at 6.97 vs 7.03 (-0.9%)
- closed below gamma max at 7.46 vs 8.04 (-7.8%)
- closed above gamma max at 8.02 vs 7.91 (+1.4%)
- closed above delta neutral at 6.14 vs 5.85 (+4.8%)
- closed below delta neutral at 5.70 vs 5.74 (-0.6%)
- closed above delta neutral at 6.26 vs 6.02 (+3.8%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/SOUN
Questions people ask about SOUN
Where is SOUN's gamma max today?
As of Oct 2, 2026, the gamma max for SOUN is 7.10, +21.7% from the 5.84 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 SOUN above or below its delta neutral price?
SOUN closed below delta neutral: 5.84 against a delta neutral price of 5.94. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does SOUN have?
607,031 contracts of open interest across 289 listed contracts on Oct 2, 2026, -4.4% 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.