SQQQ max pain, gamma exposure (GEX) & options open interest
As of close · rank #250 by open interest · 1,391 sessions of history since Dec 1, 2020
SQQQ's nearest-expiration max pain is 35.00 for 2026-10-09, its GEX flip is 24.04, net GEX is 9,444,021, its put/call open-interest ratio is 0.52. 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: volume/OI 0.19 · IV rank 100
SQQQ closed 22.5% below its gamma max of 40.57. It is 4.0% below the delta neutral price of 34.44. Total open interest is 393,047, -22.1% versus the previous session. Its options catalyst-intensity score is 56.5 out of 100, led by volume/OI 0.19, IV rank 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 | -49,246 contracts · -16.0% |
| Put OI change, 1 session | -62,141 contracts · -31.7% |
| Call minus put OI growth, 1 session | +15.7 pp |
| Call OI change, 5 sessions | +2,168 contracts · +0.8% |
| Put OI change, 5 sessions | -54,222 contracts · -28.8% |
| Call minus put OI growth, 5 sessions | +29.7 pp |
| Daily call OI change surprise | -0.95σ (250 prior changes) |
| Daily put OI change surprise | -3.43σ (250 prior changes) |
| Daily call-minus-put growth surprise | +1.64σ (250 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 104 completed Day +10 paths · latest Sep 17, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 104 | -0.8% | -3.3% to +3.0% | 44% | -1.9% to +0.2% | 0.0% |
| Day +2 | 104 | -1.1% | -4.9% to +4.9% | 43% | -2.5% to +0.8% | 0.0% |
| Day +3 | 104 | -0.8% | -5.8% to +2.8% | 45% | -2.3% to +0.2% | 0.0% |
| Day +4 | 104 | -3.0% | -6.5% to +4.5% | 40% | -3.4% to -0.3% | -0.3% |
| Day +5 | 104 | -3.2% | -8.4% to +6.6% | 43% | -4.6% to +0.5% | 0.0% |
| Day +6 | 104 | -3.4% | -9.5% to +6.8% | 42% | -6.0% to +0.6% | 0.0% |
| Day +7 | 104 | -2.3% | -8.8% to +7.8% | 40% | -5.3% to -0.7% | -0.7% |
| Day +8 | 104 | -3.1% | -9.7% to +6.7% | 39% | -5.1% to -0.2% | -0.2% |
| Day +9 | 104 | -4.1% | -10.5% to +5.6% | 37% | -6.3% to -2.2% | -2.2% |
| Day +10 | 104 | -3.4% | -11.0% to +5.8% | 42% | -6.3% to +0.1% | 0.0% |
Crosses above gamma max 106 completed Day +10 paths · latest Sep 16, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 106 | +0.1% | -2.4% to +3.0% | 51% | -0.4% to +0.7% | 0.0% |
| Day +2 | 106 | -1.2% | -4.6% to +3.1% | 43% | -2.2% to +0.4% | 0.0% |
| Day +3 | 106 | -2.1% | -6.3% to +3.7% | 42% | -3.9% to 0.0% | 0.0% |
| Day +4 | 106 | -1.9% | -7.1% to +3.1% | 39% | -4.2% to -0.6% | -0.6% |
| Day +5 | 106 | -2.1% | -7.5% to +5.2% | 43% | -3.7% to +0.5% | 0.0% |
| Day +6 | 106 | -2.0% | -9.2% to +6.6% | 42% | -4.8% to +0.6% | 0.0% |
| Day +7 | 106 | -2.7% | -10.2% to +9.1% | 45% | -4.8% to +0.8% | 0.0% |
| Day +8 | 106 | -4.3% | -11.1% to +5.7% | 42% | -5.5% to -0.2% | -0.2% |
| Day +9 | 106 | -2.3% | -10.4% to +5.8% | 38% | -4.8% to -0.1% | -0.1% |
| Day +10 | 106 | -4.3% | -11.0% to +7.3% | 35% | -7.2% to -2.3% | -2.3% |
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 | 15% |
| Gamma max crosses | 40 |
| Delta neutral crosses | 29 |
| Prior-year sessions closer to gamma max | 95.2% of 251 |
| Prior-year sessions closer to delta neutral | 42.2% of 251 |
| Open interest percentile (1y) | 69th |
| Daily open interest change versus prior year | -1.62σ (-111,387 contracts; 252 prior changes) |
| Open interest change, 5 sessions | -11.7% |
| Open interest change, 21 sessions | -19.3% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 37.87 vs 38.87 (-2.6%)
- closed below gamma max at 38.53 vs 40.47 (-5.0%)
- closed above gamma max at 40.61 vs 40.19 (+1.0%)
- closed below gamma max at 39.46 vs 41.13 (-4.2%)
- closed above gamma max at 40.19 vs 40.05 (+0.3%)
- closed below gamma max at 39.02 vs 39.66 (-1.7%)
- closed above gamma max at 38.28 vs 37.93 (+0.9%)
- closed above delta neutral at 36.24 vs 35.45 (+2.2%)
- closed below delta neutral at 36.04 vs 36.15 (-0.3%)
- closed above delta neutral at 38.70 vs 38.03 (+1.7%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/SQQQ
Questions people ask about SQQQ
Where is SQQQ's gamma max today?
As of Oct 2, 2026, the gamma max for SQQQ is 40.57, +22.5% from the 33.12 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 SQQQ above or below its delta neutral price?
SQQQ closed below delta neutral: 33.12 against a delta neutral price of 34.44. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does SQQQ have?
393,047 contracts of open interest across 864 listed contracts on Oct 2, 2026, -22.1% 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.