# TCOM: options-positioning snapshot

Canonical: https://halfonadouble.com/stock/TCOM
Data through: 2026-10-02 close
Publisher: Half on a Double

| Published field | Value |
| --- | --- |
| Close (USD/share) | 38.09 |
| Delta neutral (USD/share) | 42.52 |
| Gamma neutral (USD/share) | 42.64 |
| Gamma max (USD/share) | 49.20 |
| Open interest (contracts) | 104,555 |
| Nearest-expiration max pain (USD/share) | 40.00 (2026-10-16) |
| All-expiration max pain (USD/share) | 45.00 |
| Net gamma exposure | -2,737,215 |
| Confirmed GEX flip (USD/share) | 42.64 |
| Call wall (USD/share) | 40.00 |
| Put wall (USD/share) | 40.00 |
| Put/call open-interest ratio | 0.71 |
| Options catalyst-intensity score (0–100) | 67.7 |
| Options directional score (-100 to +100) | -27.6 |
| IV rank | 25.1 |
| Front ATM IV | +40.8% |
| Front-minus-back IV | 0.0 pp |
| Front expected move | +21.9% |
| Front ATM straddle / spot | +17.3% |
| Front 25-delta risk reversal | 193.7 pp |
| Call OI change, 1 session | +263 contracts · +0.4% |
| Put OI change, 1 session | +217 contracts · +0.5% |
| Call minus put OI growth, 1 session | -0.1 pp |
| Call OI change, 5 sessions | +2,008 contracts · +3.4% |
| Put OI change, 5 sessions | +342 contracts · +0.8% |
| Call minus put OI growth, 5 sessions | +2.6 pp |
| Daily call OI change surprise | +0.04σ (252 prior changes) |
| Daily put OI change surprise | +0.04σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.02σ (252 prior changes) |
| Daily open interest change (contracts) | 480 |
| Daily open interest change z-score (prior 252) | +0.04σ (252 prior changes) |
| Gamma max distance from close | +29.2% |
| Delta neutral distance from close | +11.6% |
| Prior-year sessions closer to gamma max | 64.3% of 252 |
| Prior-year sessions closer to delta neutral | 90.1% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 20 | +0.3% | -2.0% to +1.3% | 55% | -1.8% to +1.2% | 0.0% |
| above | Day +3 | 20 | -1.8% | -3.4% to +0.5% | 30% | -3.2% to +0.4% | 0.0% |
| above | Day +5 | 20 | -0.7% | -4.3% to +0.8% | 45% | -3.7% to +0.6% | 0.0% |
| above | Day +10 | 20 | -1.1% | -3.3% to +3.4% | 45% | -3.2% to +3.2% | 0.0% |
| below | Day +1 | 19 | -0.5% | -1.5% to +0.6% | 42% | -1.2% to +0.5% | 0.0% |
| below | Day +3 | 19 | +1.2% | -2.8% to +3.3% | 53% | -1.8% to +2.9% | 0.0% |
| below | Day +5 | 19 | +1.1% | -2.4% to +4.6% | 53% | -1.7% to +4.4% | 0.0% |
| below | Day +10 | 19 | +1.2% | -2.3% to +4.6% | 63% | -1.9% to +4.3% | 0.0% |

Returns are close-to-close after the labelled number of subsequent trading sessions. Cohorts require gamma max to be within 10% of the close on both crossing sessions. Historical windows can overlap and are not independent observations, so interval coverage is not guaranteed.

- [Machine-readable snapshot](https://halfonadouble.com/api/v1/tickers/TCOM.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/TCOM.csv)
- [Complete advanced analysis](https://halfonadouble.com/api/v1/analysis/TCOM.json?date=2026-10-02)

An em dash means unavailable, not zero. Values use the same display rounding as the HTML page. This is a current snapshot; full history and individual event paths are on the canonical page.

[Definitions and limitations](https://halfonadouble.com/methodology.md).