Data through close

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

As of close · rank #1243 by open interest · snapshot page

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TAP's nearest-expiration max pain is 40.00 for 2026-10-16, its GEX flip is 37.98, net GEX is -805,326, its put/call open-interest ratio is 0.87. These are whole-chain derived aggregates as of Oct 2, 2026 close.

Close
36.86
prev 37.11
Gamma max
41.56
+12.8% from close
Delta neutral
39.23
+6.4% from close
Gamma neutral
37.98
+3.0% from close
Open interest
32,186
+0.6% vs prev
Contracts listed
130
78 calls · 59 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
40.00
+8.5% from close
2026-10-16
GEX flip
37.98
+3.0% from close
Net GEX
-805,326
-2,502,100 per 100k OI
Call wall
40.00
+8.5% from close
Put wall
40.00
+8.5% from close
Put/call OI
0.87
14,955 puts / 17,231 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
27.5
within trailing 52-week range
Front / back ATM IV
+31.1% / +34.4%
-3.3 pp front premium
Expected move
+6.1%
14 DTE · one standard deviation
ATM straddle / spot
+4.9%
front-window midpoint premium
25Δ risk reversal
-167.7 pp
put IV minus call IV
IV butterfly
1.6 pp
front-window smile convexity
Volume / open interest
0.02
771 contracts traded
Normalized net delta
-0.113
option-holder convention
Modeled dealer delta
0.113
opposite-side scenario
Vanna / 100k OI
3,421
volatility-sensitive delta
Charm / 100k OI
107,149
time-decay-sensitive delta
IV surface range
160.7 pp
published contour maximum minus minimum

Download the complete dated analysis JSON .

TAP closed 12.8% below its gamma max of 41.56. It is 6.4% below the delta neutral price of 39.23. Total open interest is 32,186, +0.6% 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

← AKBA (#1242) CHPT (#1244) →

Questions people ask about TAP

Where is TAP's gamma max today?

As of Oct 2, 2026, the gamma max for TAP is 41.56, +12.8% from the 36.86 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 TAP above or below its delta neutral price?

TAP closed below delta neutral: 36.86 against a delta neutral price of 39.23. The delta neutral price is where the summed delta of the whole chain is zero; the definition.

How much open interest does TAP have?

32,186 contracts of open interest across 130 listed contracts on Oct 2, 2026, +0.6% 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.