TGT max pain, gamma exposure (GEX) & options open interest
As of close · rank #257 by open interest · 1,394 sessions of history since Dec 1, 2020
TGT's nearest-expiration max pain is 157.50 for 2026-10-09, its GEX flip is 140.03, net GEX is 5,290,636, its put/call open-interest ratio is 0.95. 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.
TGT closed 9.5% below its gamma max of 170.83. It is 9.1% above the delta neutral price of 141.84. Total open interest is 383,459, -1.5% versus the previous session. Its options catalyst-intensity score is 30.0 out of 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 | -9,997 contracts · -4.8% |
| Put OI change, 1 session | +4,166 contracts · +2.3% |
| Call minus put OI growth, 1 session | -7.1 pp |
| Call OI change, 5 sessions | +4,210 contracts · +2.2% |
| Put OI change, 5 sessions | +8,733 contracts · +4.9% |
| Call minus put OI growth, 5 sessions | -2.7 pp |
| Daily call OI change surprise | -0.48σ (252 prior changes) |
| Daily put OI change surprise | +0.35σ (252 prior changes) |
| Daily call-minus-put growth surprise | -3.30σ (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 24 completed Day +10 paths · latest Jun 25, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 24 | -0.1% | -0.8% to +0.7% | 42% | -0.5% to +0.5% | 0.0% |
| Day +2 | 24 | -0.1% | -1.2% to +1.2% | 46% | -1.0% to +0.9% | 0.0% |
| Day +3 | 24 | -0.1% | -2.4% to +1.6% | 46% | -2.1% to +1.3% | 0.0% |
| Day +4 | 24 | +0.1% | -2.4% to +2.9% | 50% | -1.8% to +2.3% | 0.0% |
| Day +5 | 24 | +1.2% | -3.3% to +2.6% | 54% | -2.4% to +2.6% | 0.0% |
| Day +6 | 24 | +1.0% | -2.3% to +2.9% | 63% | -1.9% to +2.1% | 0.0% |
| Day +7 | 24 | +1.4% | -2.3% to +2.9% | 63% | -1.8% to +2.6% | 0.0% |
| Day +8 | 24 | +1.4% | -2.6% to +3.2% | 63% | -0.6% to +2.9% | 0.0% |
| Day +9 | 24 | +1.8% | -2.6% to +3.1% | 58% | -1.3% to +2.9% | 0.0% |
| Day +10 | 24 | +1.6% | -1.8% to +3.5% | 63% | -1.6% to +3.4% | 0.0% |
Crosses above gamma max 23 completed Day +10 paths · latest Jun 24, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 23 | -0.3% | -0.8% to +0.0% | 30% | -0.6% to 0.0% | 0.0% |
| Day +2 | 23 | -0.4% | -1.0% to +0.5% | 43% | -0.7% to +0.4% | 0.0% |
| Day +3 | 23 | -0.0% | -1.3% to +0.7% | 48% | -1.0% to +0.6% | 0.0% |
| Day +4 | 23 | -0.4% | -3.1% to +0.5% | 39% | -1.4% to +0.2% | 0.0% |
| Day +5 | 23 | -0.4% | -1.3% to +1.4% | 39% | -1.2% to +1.0% | 0.0% |
| Day +6 | 23 | -0.5% | -2.3% to +2.0% | 43% | -1.3% to +1.6% | 0.0% |
| Day +7 | 23 | +0.9% | -2.0% to +1.9% | 57% | -1.8% to +1.5% | 0.0% |
| Day +8 | 23 | +0.7% | -1.9% to +2.0% | 61% | -0.4% to +1.8% | 0.0% |
| Day +9 | 23 | +1.0% | -0.8% to +2.3% | 61% | -0.6% to +1.9% | 0.0% |
| Day +10 | 23 | +1.2% | -1.3% to +1.8% | 61% | -0.6% to +1.7% | 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 | 12 |
| Delta neutral crosses | 5 |
| Prior-year sessions closer to gamma max | 87.7% of 252 |
| Prior-year sessions closer to delta neutral | 52.0% of 252 |
| Open interest percentile (1y) | 4th |
| Daily open interest change versus prior year | -0.13σ (-5,831 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +3.5% |
| Open interest change, 21 sessions | -14.6% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 139.57 vs 141.29 (-1.2%)
- closed above gamma max at 141.19 vs 141.02 (+0.1%)
- closed below gamma max at 127.81 vs 130.19 (-1.9%)
- closed above gamma max at 132.64 vs 131.55 (+0.8%)
- closed below gamma max at 132.10 vs 138.95 (-5.2%)
- closed above gamma max at 130.18 vs 129.97 (+0.2%)
- closed below gamma max at 110.85 vs 112.50 (-1.5%)
- closed above gamma max at 114.13 vs 113.18 (+0.8%)
- closed below gamma max at 111.28 vs 112.15 (-0.8%)
- closed above gamma max at 111.13 vs 110.07 (+1.0%)
In today's screens
Neighbours by open interest
Cite or embed this snapshot
Share the dated 1600×840 image or cite this canonical page. The card contains public derived aggregates, not contract-level quotes.
Canonical source: https://halfonadouble.com/stock/TGT
Questions people ask about TGT
Where is TGT's gamma max today?
As of Oct 2, 2026, the gamma max for TGT is 170.83, +9.5% from the 155.98 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 TGT above or below its delta neutral price?
TGT closed above delta neutral: 155.98 against a delta neutral price of 141.84. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does TGT have?
383,459 contracts of open interest across 753 listed contracts on Oct 2, 2026, -1.5% 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.