TSLA max pain, gamma exposure (GEX) & options open interest
As of close · rank #14 by open interest · 1,394 sessions of history since Dec 1, 2020
TSLA's nearest-expiration max pain is 355.00 for 2026-10-05, its GEX flip is 349.66, net GEX is 107,850,154, its put/call open-interest ratio is 0.75. 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 0.62 · smile convexity 10.9 pp
TSLA closed 12.4% below its gamma max of 416.65. It is 4.3% above the delta neutral price of 354.64. Total open interest is 5,204,732, -7.7% versus the previous session. Its options catalyst-intensity score is 39.7 out of 100, led by volume/OI 0.62, smile convexity 10.9 pp. 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 | -211,163 contracts · -6.6% |
| Put OI change, 1 session | -225,508 contracts · -9.2% |
| Call minus put OI growth, 1 session | +2.5 pp |
| Call OI change, 5 sessions | +99,447 contracts · +3.5% |
| Put OI change, 5 sessions | +27,406 contracts · +1.2% |
| Call minus put OI growth, 5 sessions | +2.2 pp |
| Daily call OI change surprise | -0.96σ (252 prior changes) |
| Daily put OI change surprise | -1.11σ (252 prior changes) |
| Daily call-minus-put growth surprise | +1.19σ (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 8 completed Day +10 paths · latest Dec 12, 2024
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 8 | +1.2% | -2.6% to +4.9% | 63% | -3.1% to +6.7% | 0.0% |
| Day +2 | 8 | +1.6% | -3.5% to +8.6% | 50% | -3.6% to +10.7% | 0.0% |
| Day +3 | 8 | +2.7% | -2.5% to +9.7% | 50% | -2.9% to +10.7% | 0.0% |
| Day +4 | 8 | +4.2% | -4.0% to +9.8% | 63% | -4.0% to +11.2% | 0.0% |
| Day +5 | 8 | +4.6% | -1.7% to +6.4% | 63% | -6.1% to +9.8% | 0.0% |
| Day +6 | 8 | +2.4% | -1.1% to +8.1% | 63% | -4.0% to +8.3% | 0.0% |
| Day +7 | 8 | +3.2% | -0.1% to +6.9% | 75% | -3.4% to +14.1% | 0.0% |
| Day +8 | 8 | +7.2% | +1.0% to +12.1% | 88% | +1.0% to +16.5% | +1.0% |
| Day +9 | 8 | +6.8% | +2.6% to +11.2% | 88% | +1.3% to +14.1% | +1.3% |
| Day +10 | 8 | +2.0% | +0.4% to +6.0% | 88% | +0.1% to +14.4% | +0.1% |
Crosses above gamma max 6 completed Day +10 paths · latest Dec 11, 2024
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 6 | -0.4% | -1.3% to +5.8% | 33% | -2.3% to +9.1% | 0.0% |
| Day +2 | 6 | +1.8% | -0.1% to +2.6% | 67% | -3.3% to +4.2% | 0.0% |
| Day +3 | 6 | +4.6% | +3.1% to +5.3% | 83% | -2.8% to +9.0% | 0.0% |
| Day +4 | 6 | +4.5% | -0.1% to +7.7% | 67% | -3.1% to +13.0% | 0.0% |
| Day +5 | 6 | +3.6% | +0.8% to +6.0% | 67% | -4.2% to +18.0% | 0.0% |
| Day +6 | 6 | +4.1% | +1.6% to +6.8% | 83% | -0.5% to +14.4% | 0.0% |
| Day +7 | 6 | +4.6% | +0.6% to +7.2% | 67% | -0.9% to +18.4% | 0.0% |
| Day +8 | 6 | +3.2% | +1.6% to +5.9% | 100% | +0.8% to +20.0% | +0.8% |
| Day +9 | 6 | +4.6% | +1.4% to +8.1% | 83% | -1.3% to +19.2% | 0.0% |
| Day +10 | 6 | +5.3% | +2.8% to +9.0% | 100% | +1.1% to +13.4% | +1.1% |
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 | 0% |
| Gamma max crosses | 0 |
| Delta neutral crosses | 18 |
| Prior-year sessions closer to gamma max | 73.8% of 252 |
| Prior-year sessions closer to delta neutral | 43.3% of 252 |
| Open interest percentile (1y) | 4th |
| Daily open interest change versus prior year | -1.05σ (-436,671 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +2.5% |
| Open interest change, 21 sessions | -8.6% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed above delta neutral at 354.81 vs 353.36 (+0.4%)
- closed below delta neutral at 352.84 vs 354.89 (-0.6%)
- closed above delta neutral at 351.12 vs 342.29 (+2.5%)
- closed below delta neutral at 339.30 vs 340.90 (-0.5%)
- closed above delta neutral at 339.96 vs 334.89 (+1.5%)
- closed below delta neutral at 319.69 vs 363.66 (-13.8%)
- closed above delta neutral at 378.93 vs 374.85 (+1.1%)
- closed below delta neutral at 369.57 vs 372.33 (-0.7%)
- closed above delta neutral at 379.71 vs 374.82 (+1.3%)
- closed below delta neutral at 375.53 vs 377.06 (-0.4%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/TSLA
Questions people ask about TSLA
Where is TSLA's gamma max today?
As of Oct 2, 2026, the gamma max for TSLA is 416.65, +12.4% from the 370.59 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 TSLA above or below its delta neutral price?
TSLA closed above delta neutral: 370.59 against a delta neutral price of 354.64. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does TSLA have?
5,204,732 contracts of open interest across 3,141 listed contracts on Oct 2, 2026, -7.7% 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.