Data through close

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

As of close · rank #1341 by open interest · snapshot page

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TBT's nearest-expiration max pain is 40.00 for 2026-10-16, its GEX flip is 29.39, net GEX is 3,245,073, its put/call open-interest ratio is 0.57. These are whole-chain derived aggregates as of Oct 2, 2026 close.

Close
42.54
prev 42.19
Gamma max
43.09
+1.3% from close
Delta neutral
38.28
-10.0% from close
Gamma neutral
29.39
-30.9% from close
Open interest
27,703
+0.0% vs prev
Contracts listed
201
116 calls · 110 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
-6.0% from close
2026-10-16
GEX flip
29.39
-30.9% from close
Net GEX
3,245,073
11,713,796 per 100k OI
Call wall
44.00
+3.4% from close
Put wall
40.00
-6.0% from close
Put/call OI
0.57
10,064 puts / 17,639 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
21.7
within trailing 52-week range
Front / back ATM IV
+31.4% / +31.3%
0.1 pp front premium
Expected move
+6.2%
14 DTE · one standard deviation
ATM straddle / spot
+4.2%
front-window midpoint premium
25Δ risk reversal
-8.9 pp
put IV minus call IV
IV butterfly
7.7 pp
front-window smile convexity
Volume / open interest
0.02
661 contracts traded
Normalized net delta
0.264
option-holder convention
Modeled dealer delta
-0.240
opposite-side scenario
Vanna / 100k OI
985
volatility-sensitive delta
Charm / 100k OI
-789,593
time-decay-sensitive delta
IV surface range
109.2 pp
published contour maximum minus minimum

Download the complete dated analysis JSON .

TBT closed 1.3% below its gamma max of 43.09. It is 10.0% above the delta neutral price of 38.28. Total open interest is 27,703, +0.0% 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

← INTR (#1340) PALL (#1342) →

Questions people ask about TBT

Where is TBT's gamma max today?

As of Oct 2, 2026, the gamma max for TBT is 43.09, +1.3% from the 42.54 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 TBT above or below its delta neutral price?

TBT closed above delta neutral: 42.54 against a delta neutral price of 38.28. The delta neutral price is where the summed delta of the whole chain is zero; the definition.

How much open interest does TBT have?

27,703 contracts of open interest across 201 listed contracts on Oct 2, 2026, +0.0% 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.