# SPCH: options-positioning snapshot

Canonical: https://halfonadouble.com/stock/SPCH
Data through: 2026-10-23 close
Publisher: Half on a Double

| Published field | Value |
| --- | --- |
| Close (USD/share) | 9.18 |
| Delta neutral (USD/share) | 8.32 |
| Gamma neutral (USD/share) | 7.83 |
| Gamma max (USD/share) | 12.73 |
| Open interest (contracts) | 105,704 |
| Nearest-expiration max pain (USD/share) | 10.00 (2026-10-30) |
| All-expiration max pain (USD/share) | 9.50 |
| Net gamma exposure | 879,952 |
| Confirmed GEX flip (USD/share) | 7.83 |
| Call wall (USD/share) | 20.00 |
| Put wall (USD/share) | 10.00 |
| Put/call open-interest ratio | 0.42 |
| Options catalyst-intensity score (0–100) | 66.3 |
| Options directional score (-100 to +100) | -6.9 |
| IV rank | 38.6 |
| Front-minus-back IV | 9.6 pp |
| Front 25-delta risk reversal | 6.3 pp |
| Call OI change, 1 session | -9,880 contracts · -11.7% |
| Put OI change, 1 session | -7,844 contracts · -20.1% |
| Call minus put OI growth, 1 session | +8.4 pp |
| Call OI change, 5 sessions | +6,263 contracts · +9.2% |
| Put OI change, 5 sessions | +2,008 contracts · +6.9% |
| Call minus put OI growth, 5 sessions | +2.3 pp |
| Daily call OI change surprise | — (88 prior changes) |
| Daily put OI change surprise | — (88 prior changes) |
| Daily call-minus-put growth surprise | — (88 prior changes) |
| Daily open interest change (contracts) | -17,724 |
| Daily open interest change z-score (prior 252) | — |
| Gamma max distance from close | +38.7% |
| Delta neutral distance from close | -9.4% |
| Prior-year sessions closer to gamma max | 87.6% of 89 |
| Prior-year sessions closer to delta neutral | 33.7% of 89 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 1 | +1.3% | +1.3% to +1.3% | 100% | — | – |
| above | Day +3 | 1 | -12.0% | -12.0% to -12.0% | 0% | — | – |
| above | Day +5 | 1 | -9.2% | -9.2% to -9.2% | 0% | — | – |
| above | Day +10 | 1 | -26.0% | -26.0% to -26.0% | 0% | — | – |
| below | Day +1 | 1 | +7.4% | +7.4% to +7.4% | 100% | — | – |
| below | Day +3 | 1 | 0.0% | 0.0% to 0.0% | 0% | — | – |
| below | Day +5 | 1 | -0.3% | -0.3% to -0.3% | 0% | — | – |
| below | Day +10 | 1 | +3.9% | +3.9% to +3.9% | 100% | — | – |

Returns are close-to-close after the labelled number of subsequent trading sessions. Cohorts require gamma max to be within 10% of the close on both crossing sessions. Historical windows can overlap and are not independent observations, so interval coverage is not guaranteed.

- [Machine-readable snapshot](https://halfonadouble.com/api/v1/tickers/SPCH.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/SPCH.csv)
- [Public aggregate analysis](https://halfonadouble.com/api/v1/analysis/SPCH.json?date=2026-10-23&public_schema=4)

An em dash means unavailable, not zero. Values use the same display rounding as the HTML page. This is a current snapshot; full history and individual event paths are on the canonical page.

[Definitions and limitations](https://halfonadouble.com/methodology.md).