# TSM: options-positioning snapshot

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

| Published field | Value |
| --- | --- |
| Close (USD/share) | 472.78 |
| Delta neutral (USD/share) | 416.27 |
| Gamma neutral (USD/share) | 422.44 |
| Gamma max (USD/share) | 492.95 |
| Open interest (contracts) | 1,773,528 |
| Nearest-expiration max pain (USD/share) | 447.50 (2026-10-09) |
| All-expiration max pain (USD/share) | 400.00 |
| Net gamma exposure | 86,787,429 |
| Confirmed GEX flip (USD/share) | 422.44 |
| Call wall (USD/share) | 500.00 |
| Put wall (USD/share) | 400.00 |
| Put/call open-interest ratio | 1.02 |
| Options catalyst-intensity score (0–100) | 47.4 |
| Options directional score (-100 to +100) | -12.4 |
| IV rank | 86.8 |
| Front ATM IV | +30.1% |
| Front-minus-back IV | -3.1 pp |
| Front expected move | +4.2% |
| Front ATM straddle / spot | +3.0% |
| Front 25-delta risk reversal | -1.2 pp |
| Call OI change, 1 session | -21,471 contracts · -2.4% |
| Put OI change, 1 session | -31,742 contracts · -3.4% |
| Call minus put OI growth, 1 session | +1.0 pp |
| Call OI change, 5 sessions | +57,733 contracts · +7.0% |
| Put OI change, 5 sessions | +28,561 contracts · +3.3% |
| Call minus put OI growth, 5 sessions | +3.8 pp |
| Daily call OI change surprise | -0.58σ (252 prior changes) |
| Daily put OI change surprise | -0.52σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.32σ (252 prior changes) |
| Daily open interest change (contracts) | -53,213 |
| Daily open interest change z-score (prior 252) | -0.56σ (252 prior changes) |
| Gamma max distance from close | +4.3% |
| Delta neutral distance from close | -12.0% |
| Prior-year sessions closer to gamma max | 12.7% of 252 |
| Prior-year sessions closer to delta neutral | 92.5% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 15 | -0.5% | -0.7% to +1.6% | 47% | -0.7% to +2.2% | 0.0% |
| above | Day +3 | 15 | -2.0% | -3.0% to +0.7% | 33% | -3.3% to +1.0% | 0.0% |
| above | Day +5 | 15 | -1.6% | -4.3% to +0.7% | 40% | -4.8% to +0.9% | 0.0% |
| above | Day +10 | 15 | +0.3% | -2.4% to +3.6% | 53% | -3.3% to +4.0% | 0.0% |
| below | Day +1 | 15 | -1.0% | -1.5% to +1.0% | 47% | -1.6% to +1.3% | 0.0% |
| below | Day +3 | 15 | -1.3% | -2.9% to +0.4% | 40% | -2.9% to +0.5% | 0.0% |
| below | Day +5 | 15 | -1.0% | -2.0% to +2.7% | 40% | -2.2% to +2.8% | 0.0% |
| below | Day +10 | 15 | +1.0% | -0.9% to +5.0% | 60% | -1.6% to +6.2% | 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/TSM.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/TSM.csv)
- [Complete advanced analysis](https://halfonadouble.com/api/v1/analysis/TSM.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).