TEM max pain, gamma exposure (GEX) & options open interest
As of close · rank #273 by open interest · 523 sessions of history since Sep 3, 2024
TEM's nearest-expiration max pain is 77.00 for 2026-10-09, its GEX flip is 52.93, net GEX is 15,417,928, 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: 7d expected move +10.2%
TEM closed 6.2% below its gamma max of 81.38. It is 23.9% above the delta neutral price of 58.34. Total open interest is 352,374, -5.3% versus the previous session. Its options catalyst-intensity score is 52.4 out of 100, led by 7d expected move +10.2%. 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 | -12,964 contracts · -5.3% |
| Put OI change, 1 session | -6,708 contracts · -5.3% |
| Call minus put OI growth, 1 session | -0.0 pp |
| Call OI change, 5 sessions | +3,298 contracts · +1.4% |
| Put OI change, 5 sessions | +6,207 contracts · +5.4% |
| Call minus put OI growth, 5 sessions | -4.0 pp |
| Daily call OI change surprise | -0.97σ (252 prior changes) |
| Daily put OI change surprise | -0.95σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.07σ (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 14 completed Day +10 paths · latest Sep 30, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 16 | -0.4% | -3.0% to +2.6% | 50% | -2.9% to +2.2% | 0.0% |
| Day +2 | 16 | +0.6% | -2.6% to +5.0% | 56% | -1.8% to +5.0% | 0.0% |
| Day +3 | 15 | +1.5% | -1.4% to +8.2% | 60% | -1.6% to +9.6% | 0.0% |
| Day +4 | 15 | +2.0% | -3.5% to +9.7% | 60% | -3.6% to +10.5% | 0.0% |
| Day +5 | 15 | +2.2% | -6.5% to +10.3% | 53% | -8.3% to +11.7% | 0.0% |
| Day +6 | 15 | +0.2% | -7.9% to +12.9% | 53% | -8.5% to +19.1% | 0.0% |
| Day +7 | 15 | +0.8% | -4.9% to +12.6% | 53% | -6.4% to +20.3% | 0.0% |
| Day +8 | 15 | -2.3% | -6.6% to +16.3% | 40% | -8.0% to +28.7% | 0.0% |
| Day +9 | 15 | -2.3% | -10.8% to +13.9% | 40% | -11.1% to +18.0% | 0.0% |
| Day +10 | 14 | -0.5% | -12.3% to +17.6% | 50% | -12.3% to +21.9% | 0.0% |
Crosses above gamma max 15 completed Day +10 paths · latest Sep 25, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 16 | -2.9% | -6.0% to +0.4% | 38% | -6.0% to +0.3% | 0.0% |
| Day +2 | 16 | -2.9% | -5.7% to -0.6% | 19% | -5.4% to -0.7% | -0.7% |
| Day +3 | 16 | -2.0% | -4.2% to +3.7% | 38% | -3.9% to +3.1% | 0.0% |
| Day +4 | 16 | -3.7% | -7.4% to +2.8% | 38% | -7.4% to +2.7% | 0.0% |
| Day +5 | 16 | -0.8% | -9.5% to +4.7% | 50% | -9.4% to +4.3% | 0.0% |
| Day +6 | 15 | -0.6% | -8.5% to +5.2% | 47% | -11.8% to +5.8% | 0.0% |
| Day +7 | 15 | -3.3% | -11.4% to +13.7% | 40% | -14.0% to +15.2% | 0.0% |
| Day +8 | 15 | -4.4% | -7.9% to +11.0% | 40% | -9.2% to +12.8% | 0.0% |
| Day +9 | 15 | -4.4% | -10.8% to +14.6% | 40% | -10.9% to +23.9% | 0.0% |
| Day +10 | 15 | -4.8% | -12.8% to +14.7% | 33% | -12.9% to +18.5% | 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 | 4% |
| Gamma max crosses | 10 |
| Delta neutral crosses | 16 |
| Prior-year sessions closer to gamma max | 14.3% of 252 |
| Prior-year sessions closer to delta neutral | 94.4% of 252 |
| Open interest percentile (1y) | 64th |
| Daily open interest change versus prior year | -0.99σ (-19,672 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +2.8% |
| Open interest change, 21 sessions | -12.6% |
| History available | Sep 3, 2024 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 81.90 vs 82.75 (-1.0%)
- closed above gamma max at 85.01 vs 79.67 (+6.3%)
- closed below gamma max at 78.03 vs 79.08 (-1.3%)
- closed above gamma max at 80.36 vs 76.61 (+4.7%)
- closed below gamma max at 66.17 vs 72.39 (-9.4%)
- closed above gamma max at 66.65 vs 63.36 (+4.9%)
- closed above delta neutral at 46.05 vs 45.06 (+2.2%)
- closed below delta neutral at 46.01 vs 46.82 (-1.8%)
- closed below gamma max at 60.27 vs 63.79 (-5.8%)
- closed above gamma max at 61.36 vs 60.17 (+1.9%)
In today's screens
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Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/TEM
Questions people ask about TEM
Where is TEM's gamma max today?
As of Oct 2, 2026, the gamma max for TEM is 81.38, +6.2% from the 76.63 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 TEM above or below its delta neutral price?
TEM closed above delta neutral: 76.63 against a delta neutral price of 58.34. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does TEM have?
352,374 contracts of open interest across 742 listed contracts on Oct 2, 2026, -5.3% 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.