Data through close

SPDW max pain, gamma exposure (GEX) & options open interest

As of close · rank #4421 by open interest · snapshot page

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SPDW's nearest-expiration max pain is 51.00 for 2026-10-16, its GEX flip is 45.95, net GEX is 10,386, its put/call open-interest ratio is 0.78. These are whole-chain derived aggregates as of Oct 2, 2026 close.

Close
50.53
prev 49.90
Gamma max
56.25
+11.3% from close
Delta neutral
49.97
-1.1% from close
Gamma neutral
45.95
-9.1% from close
Open interest
239
-4.4% vs prev
Contracts listed
33
17 calls · 16 puts

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.

Nearest max pain
51.00
+0.9% from close
2026-10-16
GEX flip
45.95
-9.1% from close
Net GEX
10,386
4,345,536 per 100k OI
Call wall
56.00
+10.8% from close
Put wall
43.00
-14.9% from close
Put/call OI
0.78
105 puts / 134 calls

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.

Catalyst intensity
–
cross-sectional score / 100
Directional score
–
IV rank
14.1
within trailing 52-week range
Front / back ATM IV
+24.4% / +18.1%
6.2 pp front premium
Expected move
+4.8%
14 DTE · one standard deviation
ATM straddle / spot
–
front-window midpoint premium
25Δ risk reversal
29.6 pp
put IV minus call IV
IV butterfly
– pp
front-window smile convexity
Volume / open interest
0.00
1 contracts traded
Normalized net delta
-0.001
option-holder convention
Modeled dealer delta
0.001
opposite-side scenario
Vanna / 100k OI
5,858
volatility-sensitive delta
Charm / 100k OI
0
time-decay-sensitive delta
IV surface range
29.6 pp
published contour maximum minus minimum

Download the complete dated analysis JSON .

SPDW closed 11.3% below its gamma max of 56.25. It is 1.1% above the delta neutral price of 49.97. Total open interest is 239, -4.4% versus the previous session. What gamma max means · What delta neutral means

History

Full history since 2020: drag to pan, scroll to zoom, hover for values. Open full-screen chart

Analysis visualizations

Derived from the 2026-10-02 options chain. Select an analysis to explore its chart.

Gamma walls

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In today's screens

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Neighbours by open interest

← PEBO (#4420) IXUS (#4422) →

Questions people ask about SPDW

Where is SPDW's gamma max today?

As of Oct 2, 2026, the gamma max for SPDW is 56.25, +11.3% from the 50.53 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 SPDW above or below its delta neutral price?

SPDW closed above delta neutral: 50.53 against a delta neutral price of 49.97. The delta neutral price is where the summed delta of the whole chain is zero; the definition.

How much open interest does SPDW have?

239 contracts of open interest across 33 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.