# TXN: options-positioning snapshot

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

| Published field | Value |
| --- | --- |
| Close (USD/share) | 293.80 |
| Delta neutral (USD/share) | 266.70 |
| Gamma neutral (USD/share) | 265.44 |
| Gamma max (USD/share) | 307.29 |
| Open interest (contracts) | 198,063 |
| Nearest-expiration max pain (USD/share) | 267.50 (2026-10-09) |
| All-expiration max pain (USD/share) | 260.00 |
| Net gamma exposure | 8,642,907 |
| Confirmed GEX flip (USD/share) | 265.44 |
| Call wall (USD/share) | 300.00 |
| Put wall (USD/share) | 260.00 |
| Put/call open-interest ratio | 0.81 |
| Options catalyst-intensity score (0–100) | 46.4 |
| Options directional score (-100 to +100) | -21.4 |
| IV rank | 66.8 |
| Front ATM IV | +37.0% |
| Front-minus-back IV | -7.9 pp |
| Front expected move | +5.1% |
| Front ATM straddle / spot | +4.1% |
| Front 25-delta risk reversal | 3.9 pp |
| Call OI change, 1 session | -5,062 contracts · -4.4% |
| Put OI change, 1 session | -2,623 contracts · -2.9% |
| Call minus put OI growth, 1 session | -1.5 pp |
| Call OI change, 5 sessions | +420 contracts · +0.4% |
| Put OI change, 5 sessions | +2,529 contracts · +2.9% |
| Call minus put OI growth, 5 sessions | -2.6 pp |
| Daily call OI change surprise | -0.48σ (252 prior changes) |
| Daily put OI change surprise | -0.29σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.56σ (252 prior changes) |
| Daily open interest change (contracts) | -7,685 |
| Daily open interest change z-score (prior 252) | -0.40σ (252 prior changes) |
| Gamma max distance from close | +4.6% |
| Delta neutral distance from close | -9.2% |
| Prior-year sessions closer to gamma max | 33.7% of 252 |
| Prior-year sessions closer to delta neutral | 67.9% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 16 | -0.6% | -1.6% to +0.8% | 44% | -1.5% to +0.7% | 0.0% |
| above | Day +3 | 16 | -0.9% | -2.4% to +2.4% | 38% | -2.0% to +2.0% | 0.0% |
| above | Day +5 | 16 | -0.5% | -2.8% to +2.2% | 38% | -2.8% to +1.9% | 0.0% |
| above | Day +10 | 16 | +0.8% | -5.4% to +5.1% | 63% | -5.0% to +4.8% | 0.0% |
| below | Day +1 | 16 | +0.0% | -0.9% to +1.5% | 50% | -0.9% to +1.5% | 0.0% |
| below | Day +3 | 16 | -0.0% | -2.0% to +1.0% | 50% | -1.9% to +0.7% | 0.0% |
| below | Day +5 | 16 | +1.5% | -2.0% to +2.5% | 63% | -1.7% to +2.4% | 0.0% |
| below | Day +10 | 16 | -1.1% | -5.0% to +4.9% | 44% | -4.8% to +4.9% | 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/TXN.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/TXN.csv)
- [Complete advanced analysis](https://halfonadouble.com/api/v1/analysis/TXN.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).