SPOT max pain, gamma exposure (GEX) & options open interest
As of close · rank #602 by open interest · 1,394 sessions of history since Dec 1, 2020
SPOT's nearest-expiration max pain is 510.00 for 2026-10-09, its GEX flip is 494.06, net GEX is -2,367,788, its put/call open-interest ratio is 0.93. 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: IV rank 100 · volume/OI 0.11
SPOT closed 23.4% below its gamma max of 583.56. It is 5.2% below the delta neutral price of 497.31. Total open interest is 108,745, -3.4% versus the previous session. Its options catalyst-intensity score is 44.8 out of 100, led by IV rank 100, volume/OI 0.11. 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 | -2,025 contracts · -3.5% |
| Put OI change, 1 session | -1,845 contracts · -3.4% |
| Call minus put OI growth, 1 session | -0.1 pp |
| Call OI change, 5 sessions | +2,705 contracts · +5.1% |
| Put OI change, 5 sessions | +2,908 contracts · +5.9% |
| Call minus put OI growth, 5 sessions | -0.8 pp |
| Daily call OI change surprise | -0.31σ (252 prior changes) |
| Daily put OI change surprise | -0.31σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.09σ (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 22 completed Day +10 paths · latest Aug 20, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 22 | +0.3% | -0.6% to +1.9% | 59% | -0.6% to +1.4% | 0.0% |
| Day +2 | 22 | +0.9% | -1.0% to +4.4% | 64% | -0.6% to +3.5% | 0.0% |
| Day +3 | 22 | +1.8% | -1.1% to +3.8% | 64% | -0.6% to +3.6% | 0.0% |
| Day +4 | 22 | +1.1% | -1.5% to +4.5% | 55% | -1.2% to +3.2% | 0.0% |
| Day +5 | 22 | +0.8% | -1.7% to +3.0% | 55% | -1.4% to +2.2% | 0.0% |
| Day +6 | 22 | +0.7% | -1.8% to +4.1% | 59% | -1.0% to +3.8% | 0.0% |
| Day +7 | 22 | +1.6% | -1.6% to +3.9% | 64% | -1.4% to +3.3% | 0.0% |
| Day +8 | 22 | +2.3% | -2.5% to +5.7% | 64% | -1.5% to +5.4% | 0.0% |
| Day +9 | 22 | +0.1% | -2.8% to +6.9% | 50% | -2.2% to +4.9% | 0.0% |
| Day +10 | 22 | +0.2% | -2.8% to +6.5% | 50% | -2.1% to +5.1% | 0.0% |
Crosses above gamma max 23 completed Day +10 paths · latest Aug 19, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 23 | +0.2% | -1.4% to +1.4% | 57% | -0.4% to +0.8% | 0.0% |
| Day +2 | 23 | +0.1% | -1.9% to +3.0% | 52% | -1.7% to +2.6% | 0.0% |
| Day +3 | 23 | +0.9% | -2.1% to +4.1% | 65% | -1.7% to +3.3% | 0.0% |
| Day +4 | 23 | +2.0% | -3.0% to +3.9% | 61% | -0.8% to +3.6% | 0.0% |
| Day +5 | 23 | +1.3% | -2.5% to +3.4% | 65% | -1.5% to +3.1% | 0.0% |
| Day +6 | 23 | +0.7% | -4.1% to +2.4% | 61% | -1.1% to +2.3% | 0.0% |
| Day +7 | 23 | +1.6% | -5.0% to +5.1% | 57% | -4.0% to +4.2% | 0.0% |
| Day +8 | 23 | +1.0% | -3.8% to +3.8% | 52% | -3.1% to +3.0% | 0.0% |
| Day +9 | 23 | +1.9% | -4.4% to +6.1% | 57% | -3.8% to +3.4% | 0.0% |
| Day +10 | 23 | +0.2% | -5.2% to +8.1% | 52% | -4.3% to +4.9% | 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 | 0% |
| Gamma max crosses | 2 |
| Delta neutral crosses | 33 |
| Prior-year sessions closer to gamma max | 90.1% of 252 |
| Prior-year sessions closer to delta neutral | 74.6% of 252 |
| Open interest percentile (1y) | 4th |
| Daily open interest change versus prior year | -0.32σ (-3,870 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +5.4% |
| Open interest change, 21 sessions | -7.2% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 497.51 vs 502.42 (-1.0%)
- closed above delta neutral at 510.40 vs 507.24 (+0.6%)
- closed below delta neutral at 501.30 vs 509.70 (-1.7%)
- closed below gamma max at 533.13 vs 545.13 (-2.3%)
- closed above gamma max at 533.37 vs 524.83 (+1.6%)
- closed above delta neutral at 488.14 vs 482.84 (+1.1%)
- closed below delta neutral at 475.07 vs 483.10 (-1.7%)
- closed above delta neutral at 482.23 vs 482.02 (+0.0%)
- closed below delta neutral at 478.17 vs 482.31 (-0.9%)
- closed above delta neutral at 482.66 vs 477.13 (+1.1%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/SPOT
Questions people ask about SPOT
Where is SPOT's gamma max today?
As of Oct 2, 2026, the gamma max for SPOT is 583.56, +23.4% from the 472.89 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 SPOT above or below its delta neutral price?
SPOT closed below delta neutral: 472.89 against a delta neutral price of 497.31. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does SPOT have?
108,745 contracts of open interest across 1,362 listed contracts on Oct 2, 2026, -3.4% 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.