TQQQ max pain, gamma exposure (GEX) & options open interest
As of close · rank #81 by open interest · 1,394 sessions of history since Dec 1, 2020
TQQQ's nearest-expiration max pain is 78.00 for 2026-10-05, its GEX flip is 76.72, net GEX is 30,094,287, its put/call open-interest ratio is 0.88. 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: volume/OI 0.30
TQQQ closed 4.8% below its gamma max of 84.93. It is 10.8% above the delta neutral price of 72.24. Total open interest is 1,293,675, -11.7% versus the previous session. Its options catalyst-intensity score is 35.4 out of 100, led by volume/OI 0.30. 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 | -71,627 contracts · -9.4% |
| Put OI change, 1 session | -100,588 contracts · -14.2% |
| Call minus put OI growth, 1 session | +4.8 pp |
| Call OI change, 5 sessions | -33,422 contracts · -4.6% |
| Put OI change, 5 sessions | -23,211 contracts · -3.7% |
| Call minus put OI growth, 5 sessions | -1.0 pp |
| Daily call OI change surprise | -0.98σ (252 prior changes) |
| Daily put OI change surprise | -1.55σ (252 prior changes) |
| Daily call-minus-put growth surprise | +1.15σ (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 29 completed Day +10 paths · latest Sep 23, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 30 | +0.6% | -0.6% to +2.4% | 57% | -0.2% to +1.1% | 0.0% |
| Day +2 | 30 | +0.9% | -1.2% to +3.6% | 63% | -0.4% to +2.9% | 0.0% |
| Day +3 | 30 | +1.3% | -1.6% to +4.2% | 60% | -1.1% to +3.4% | 0.0% |
| Day +4 | 30 | +1.9% | -2.0% to +4.7% | 67% | +0.3% to +4.0% | +0.3% |
| Day +5 | 30 | +3.1% | -2.4% to +7.8% | 70% | +1.1% to +5.1% | +1.1% |
| Day +6 | 30 | +3.2% | -2.9% to +6.3% | 63% | -0.4% to +5.1% | 0.0% |
| Day +7 | 30 | +3.6% | -1.0% to +8.6% | 67% | +1.2% to +6.4% | +1.2% |
| Day +8 | 29 | +3.6% | -0.9% to +7.6% | 72% | +0.3% to +6.8% | +0.3% |
| Day +9 | 29 | +3.7% | -1.8% to +7.3% | 69% | +0.5% to +7.0% | +0.5% |
| Day +10 | 29 | +3.9% | -1.1% to +7.8% | 72% | +0.7% to +6.6% | +0.7% |
Crosses above gamma max 28 completed Day +10 paths · latest Sep 21, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 29 | -0.2% | -1.5% to +1.5% | 41% | -0.9% to +1.3% | 0.0% |
| Day +2 | 29 | +0.5% | -1.0% to +4.1% | 59% | -0.4% to +2.7% | 0.0% |
| Day +3 | 29 | +0.3% | -1.8% to +3.8% | 59% | -0.5% to +3.7% | 0.0% |
| Day +4 | 29 | +1.0% | -1.5% to +4.6% | 55% | -1.3% to +4.1% | 0.0% |
| Day +5 | 29 | +1.5% | -2.3% to +5.1% | 62% | -0.4% to +3.5% | 0.0% |
| Day +6 | 29 | +2.8% | -1.8% to +6.9% | 66% | -0.3% to +5.0% | 0.0% |
| Day +7 | 29 | +3.0% | -3.2% to +5.2% | 62% | -1.1% to +3.7% | 0.0% |
| Day +8 | 29 | +2.6% | -3.9% to +7.8% | 55% | -1.9% to +5.4% | 0.0% |
| Day +9 | 29 | +3.1% | -2.0% to +8.4% | 66% | -0.1% to +5.8% | 0.0% |
| Day +10 | 28 | +4.1% | -3.3% to +7.2% | 61% | -2.1% to +5.5% | 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 | 3% |
| Gamma max crosses | 10 |
| Delta neutral crosses | 8 |
| Prior-year sessions closer to gamma max | 27.0% of 252 |
| Prior-year sessions closer to delta neutral | 74.2% of 252 |
| Open interest percentile (1y) | 32th |
| Daily open interest change versus prior year | -1.28σ (-172,215 contracts; 252 prior changes) |
| Open interest change, 5 sessions | -4.2% |
| Open interest change, 21 sessions | -15.5% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 78.64 vs 81.47 (-3.6%)
- closed above gamma max at 78.91 vs 77.20 (+2.2%)
- closed below gamma max at 72.84 vs 75.73 (-4.0%)
- closed above gamma max at 74.82 vs 73.12 (+2.3%)
- closed above delta neutral at 63.30 vs 60.78 (+4.0%)
- closed below delta neutral at 57.75 vs 59.60 (-3.2%)
- closed below gamma max at 71.34 vs 71.54 (-0.3%)
- closed above gamma max at 71.64 vs 70.61 (+1.4%)
- closed below gamma max at 58.07 vs 60.36 (-3.9%)
- closed above gamma max at 58.59 vs 58.24 (+0.6%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/TQQQ
Questions people ask about TQQQ
Where is TQQQ's gamma max today?
As of Oct 2, 2026, the gamma max for TQQQ is 84.93, +4.8% from the 81.01 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 TQQQ above or below its delta neutral price?
TQQQ closed above delta neutral: 81.01 against a delta neutral price of 72.24. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does TQQQ have?
1,293,675 contracts of open interest across 1,118 listed contracts on Oct 2, 2026, -11.7% 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.