TRIP max pain, gamma exposure (GEX) & options open interest
As of close · rank #295 by open interest · 1,394 sessions of history since Dec 1, 2020
TRIP's nearest-expiration max pain is 2.00 for 2026-10-09, its GEX flip is 10.73, net GEX is -4,903,298, its put/call open-interest ratio is 0.97. 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: front IV premium 7.7 pp · IV rank 100
TRIP closed 74.0% below its gamma max of 14.81. It is 12.8% below the delta neutral price of 9.60. Total open interest is 317,033, -1.3% versus the previous session. Its options catalyst-intensity score is 62.5 out of 100, led by front IV premium 7.7 pp, IV rank 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 | -3,800 contracts · -2.3% |
| Put OI change, 1 session | -362 contracts · -0.2% |
| Call minus put OI growth, 1 session | -2.1 pp |
| Call OI change, 5 sessions | +632 contracts · +0.4% |
| Put OI change, 5 sessions | +13,486 contracts · +9.5% |
| Call minus put OI growth, 5 sessions | -9.1 pp |
| Daily call OI change surprise | -0.78σ (252 prior changes) |
| Daily put OI change surprise | -0.15σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.15σ (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 27 completed Day +10 paths · latest Jul 17, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 27 | +0.6% | -0.9% to +2.2% | 56% | -0.7% to +1.7% | 0.0% |
| Day +2 | 27 | +0.4% | -0.8% to +5.2% | 59% | -0.7% to +2.5% | 0.0% |
| Day +3 | 27 | +0.8% | -2.2% to +4.5% | 56% | -1.8% to +4.3% | 0.0% |
| Day +4 | 27 | +0.9% | -2.0% to +4.4% | 63% | -1.1% to +4.0% | 0.0% |
| Day +5 | 27 | +3.4% | -2.7% to +6.0% | 63% | -1.4% to +5.8% | 0.0% |
| Day +6 | 27 | +3.1% | -2.4% to +8.7% | 59% | -1.9% to +7.9% | 0.0% |
| Day +7 | 27 | +2.4% | -3.9% to +6.9% | 63% | -1.3% to +6.8% | 0.0% |
| Day +8 | 27 | +2.0% | -3.3% to +6.7% | 63% | -1.0% to +6.1% | 0.0% |
| Day +9 | 27 | +1.7% | -4.3% to +8.3% | 63% | -2.7% to +5.9% | 0.0% |
| Day +10 | 27 | +1.4% | -2.4% to +6.3% | 59% | -1.9% to +5.6% | 0.0% |
Crosses above gamma max 28 completed Day +10 paths · latest Jul 15, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 28 | -0.9% | -3.1% to +1.1% | 39% | -2.9% to +0.2% | 0.0% |
| Day +2 | 28 | -0.5% | -2.3% to +1.5% | 39% | -1.9% to +1.4% | 0.0% |
| Day +3 | 28 | +0.5% | -1.8% to +2.2% | 57% | -1.0% to +1.3% | 0.0% |
| Day +4 | 28 | +0.5% | -3.2% to +5.3% | 50% | -2.4% to +3.6% | 0.0% |
| Day +5 | 28 | -0.1% | -2.7% to +6.3% | 50% | -2.2% to +4.1% | 0.0% |
| Day +6 | 28 | +0.4% | -3.6% to +8.0% | 54% | -2.2% to +3.9% | 0.0% |
| Day +7 | 28 | -1.5% | -4.4% to +6.2% | 43% | -2.9% to +4.8% | 0.0% |
| Day +8 | 28 | -0.6% | -6.3% to +7.6% | 46% | -2.3% to +3.5% | 0.0% |
| Day +9 | 28 | +2.4% | -5.1% to +6.0% | 61% | -1.0% to +4.5% | 0.0% |
| Day +10 | 28 | +0.6% | -2.4% to +9.1% | 54% | -1.4% to +3.8% | 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 | 8% |
| Gamma max crosses | 18 |
| Delta neutral crosses | 27 |
| Prior-year sessions closer to gamma max | 93.3% of 252 |
| Prior-year sessions closer to delta neutral | 69.4% of 252 |
| Open interest percentile (1y) | 100th |
| Daily open interest change versus prior year | -0.52σ (-4,162 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +4.7% |
| Open interest change, 21 sessions | +15.8% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 9.52 vs 10.03 (-5.3%)
- closed above delta neutral at 9.87 vs 9.27 (+6.0%)
- closed below delta neutral at 10.00 vs 10.09 (-0.9%)
- closed above delta neutral at 10.03 vs 9.88 (+1.5%)
- closed below delta neutral at 10.74 vs 11.09 (-3.2%)
- closed above delta neutral at 10.71 vs 10.70 (+0.1%)
- closed below delta neutral at 10.95 vs 11.00 (-0.5%)
- closed above delta neutral at 10.78 vs 10.66 (+1.1%)
- closed below delta neutral at 10.42 vs 10.70 (-2.7%)
- closed below gamma max at 14.58 vs 14.77 (-1.3%)
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/TRIP
Questions people ask about TRIP
Where is TRIP's gamma max today?
As of Oct 2, 2026, the gamma max for TRIP is 14.81, +74.0% from the 8.51 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 TRIP above or below its delta neutral price?
TRIP closed below delta neutral: 8.51 against a delta neutral price of 9.60. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does TRIP have?
317,033 contracts of open interest across 200 listed contracts on Oct 2, 2026, -1.3% 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.