# TMF: options-positioning snapshot

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

| Published field | Value |
| --- | --- |
| Close (USD/share) | 25.58 |
| Delta neutral (USD/share) | 29.23 |
| Gamma neutral (USD/share) | 31.97 |
| Gamma max (USD/share) | 38.35 |
| Open interest (contracts) | 237,084 |
| Nearest-expiration max pain (USD/share) | 27.00 (2026-10-09) |
| All-expiration max pain (USD/share) | 30.00 |
| Net gamma exposure | -1,874,419 |
| Confirmed GEX flip (USD/share) | 31.97 |
| Call wall (USD/share) | 27.00 |
| Put wall (USD/share) | 30.00 |
| Put/call open-interest ratio | 0.73 |
| Options catalyst-intensity score (0–100) | 57.7 |
| Options directional score (-100 to +100) | -17.2 |
| IV rank | 84.7 |
| Front ATM IV | +45.2% |
| Front-minus-back IV | -1.3 pp |
| Front expected move | +6.3% |
| Front ATM straddle / spot | +4.5% |
| Front 25-delta risk reversal | 4.4 pp |
| Call OI change, 1 session | -10,663 contracts · -7.2% |
| Put OI change, 1 session | -7,331 contracts · -6.8% |
| Call minus put OI growth, 1 session | -0.4 pp |
| Call OI change, 5 sessions | +12,597 contracts · +10.1% |
| Put OI change, 5 sessions | +4,130 contracts · +4.3% |
| Call minus put OI growth, 5 sessions | +5.8 pp |
| Daily call OI change surprise | -1.07σ (252 prior changes) |
| Daily put OI change surprise | -0.80σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.02σ (252 prior changes) |
| Daily open interest change (contracts) | -17,994 |
| Daily open interest change z-score (prior 252) | -0.98σ (252 prior changes) |
| Gamma max distance from close | +49.9% |
| Delta neutral distance from close | +14.3% |
| Prior-year sessions closer to gamma max | 99.2% of 252 |
| Prior-year sessions closer to delta neutral | 98.8% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 21 | -0.4% | -2.2% to +1.4% | 38% | -1.7% to +1.2% | 0.0% |
| above | Day +3 | 21 | -0.7% | -2.4% to +3.2% | 43% | -1.7% to +1.9% | 0.0% |
| above | Day +5 | 21 | +0.4% | -6.6% to +2.4% | 52% | -3.8% to +2.1% | 0.0% |
| above | Day +10 | 21 | -2.9% | -8.9% to +8.6% | 38% | -5.7% to +5.4% | 0.0% |
| below | Day +1 | 18 | +0.7% | -2.0% to +3.3% | 67% | -2.0% to +2.7% | 0.0% |
| below | Day +3 | 18 | +0.6% | -1.9% to +1.1% | 56% | -0.3% to +1.1% | 0.0% |
| below | Day +5 | 18 | +0.8% | -3.0% to +3.0% | 61% | -2.4% to +2.8% | 0.0% |
| below | Day +10 | 18 | -0.2% | -4.6% to +6.1% | 50% | -4.6% to +5.4% | 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/TMF.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/TMF.csv)
- [Complete advanced analysis](https://halfonadouble.com/api/v1/analysis/TMF.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).