Data through close

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

As of close · rank #3656 by open interest · snapshot page

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TOPW's nearest-expiration max pain is 34.00 for 2026-10-16, its GEX flip is 18.96, net GEX is 162,676, its put/call open-interest ratio is 0.23. These are whole-chain derived aggregates as of Oct 2, 2026 close.

Close
34.27
prev 33.65
Gamma max
35.84
+4.6% from close
Delta neutral
31.27
-8.7% from close
Gamma neutral
18.96
-44.7% from close
Open interest
1,052
-0.1% vs prev
Contracts listed
47
18 calls · 33 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
34.00
-0.8% from close
2026-10-16
GEX flip
18.96
-44.7% from close
Net GEX
162,676
15,463,528 per 100k OI
Call wall
35.00
+2.1% from close
Put wall
34.00
-0.8% from close
Put/call OI
0.23
196 puts / 856 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
7.7
within trailing 52-week range
Front / back ATM IV
+21.9% / +12.6%
9.2 pp front premium
Expected move
+4.3%
14 DTE · one standard deviation
ATM straddle / spot
–
front-window midpoint premium
25Δ risk reversal
– pp
put IV minus call IV
IV butterfly
– pp
front-window smile convexity
Volume / open interest
0.01
9 contracts traded
Normalized net delta
0.220
option-holder convention
Modeled dealer delta
-0.178
opposite-side scenario
Vanna / 100k OI
190
volatility-sensitive delta
Charm / 100k OI
0
time-decay-sensitive delta
IV surface range
67.3 pp
published contour maximum minus minimum

Download the complete dated analysis JSON .

TOPW closed 4.6% below its gamma max of 35.84. It is 8.7% above the delta neutral price of 31.27. Total open interest is 1,052, -0.1% 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

← XYLD (#3655) WTAI (#3657) →

Questions people ask about TOPW

Where is TOPW's gamma max today?

As of Oct 2, 2026, the gamma max for TOPW is 35.84, +4.6% from the 34.27 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 TOPW above or below its delta neutral price?

TOPW closed above delta neutral: 34.27 against a delta neutral price of 31.27. The delta neutral price is where the summed delta of the whole chain is zero; the definition.

How much open interest does TOPW have?

1,052 contracts of open interest across 47 listed contracts on Oct 2, 2026, -0.1% 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.