UBS max pain, gamma exposure (GEX) & options open interest
As of close · rank #599 by open interest · 1,394 sessions of history since Dec 1, 2020
UBS's nearest-expiration max pain is 50.00 for 2026-10-16, its GEX flip is 49.56, net GEX is -1,876,253, its put/call open-interest ratio is 1.37. 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: OI change 1.15σ
UBS closed 17.6% below its gamma max of 56.12. It is 1.7% below the delta neutral price of 48.50. Total open interest is 110,575, +6.3% versus the previous session. Its options catalyst-intensity score is 47.7 out of 100, led by OI change 1.15σ. 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 | +3,602 contracts · +8.4% |
| Put OI change, 1 session | +2,977 contracts · +4.9% |
| Call minus put OI growth, 1 session | +3.5 pp |
| Call OI change, 5 sessions | +4,105 contracts · +9.6% |
| Put OI change, 5 sessions | +4,046 contracts · +6.8% |
| Call minus put OI growth, 5 sessions | +2.9 pp |
| Daily call OI change surprise | +1.34σ (252 prior changes) |
| Daily put OI change surprise | +0.91σ (252 prior changes) |
| Daily call-minus-put growth surprise | +1.09σ (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 28 completed Day +10 paths · latest Jul 16, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 28 | +0.0% | -1.5% to +0.6% | 50% | -1.0% to +0.3% | 0.0% |
| Day +2 | 28 | -0.4% | -1.9% to +1.8% | 43% | -1.0% to +0.9% | 0.0% |
| Day +3 | 28 | -0.4% | -1.6% to +1.9% | 46% | -1.1% to +1.2% | 0.0% |
| Day +4 | 28 | +0.3% | -1.1% to +3.0% | 54% | -0.7% to +2.3% | 0.0% |
| Day +5 | 28 | +0.3% | -2.2% to +2.3% | 57% | -0.4% to +1.5% | 0.0% |
| Day +6 | 28 | +0.5% | -1.7% to +3.5% | 64% | -0.2% to +1.6% | 0.0% |
| Day +7 | 28 | +0.8% | -1.8% to +3.8% | 64% | -0.2% to +3.0% | 0.0% |
| Day +8 | 28 | +2.1% | -2.1% to +5.4% | 61% | -0.7% to +4.5% | 0.0% |
| Day +9 | 28 | +2.9% | -2.6% to +4.5% | 61% | -0.5% to +4.0% | 0.0% |
| Day +10 | 28 | +1.8% | -1.2% to +5.7% | 64% | -0.2% to +4.0% | 0.0% |
Crosses above gamma max 31 completed Day +10 paths · latest Jul 15, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 31 | +0.6% | -0.5% to +1.4% | 65% | 0.0% to +1.0% | 0.0% |
| Day +2 | 31 | +0.6% | -0.1% to +1.7% | 71% | +0.1% to +1.3% | +0.1% |
| Day +3 | 31 | +0.9% | -0.0% to +2.2% | 74% | +0.6% to +1.7% | +0.6% |
| Day +4 | 31 | +1.0% | -0.3% to +2.5% | 74% | +0.5% to +1.9% | +0.5% |
| Day +5 | 31 | +1.8% | +0.1% to +3.4% | 77% | +0.5% to +2.9% | +0.5% |
| Day +6 | 31 | +1.6% | -0.2% to +3.9% | 71% | +0.7% to +3.5% | +0.7% |
| Day +7 | 31 | +1.4% | +0.4% to +3.9% | 81% | +0.7% to +2.8% | +0.7% |
| Day +8 | 31 | +1.4% | -0.6% to +3.8% | 68% | +0.9% to +2.4% | +0.9% |
| Day +9 | 31 | +0.9% | -0.8% to +4.2% | 65% | -0.1% to +3.4% | 0.0% |
| Day +10 | 31 | +1.8% | -1.1% to +4.9% | 65% | -0.2% 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 | 7% |
| Gamma max crosses | 10 |
| Delta neutral crosses | 17 |
| Prior-year sessions closer to gamma max | 87.3% of 252 |
| Prior-year sessions closer to delta neutral | 17.5% of 252 |
| Open interest percentile (1y) | 67th |
| Daily open interest change versus prior year | +1.15σ (6,579 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +8.0% |
| Open interest change, 21 sessions | +13.0% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 48.62 vs 49.05 (-0.9%)
- closed above delta neutral at 49.67 vs 49.23 (+0.9%)
- closed below delta neutral at 47.74 vs 49.04 (-2.7%)
- closed above delta neutral at 50.62 vs 50.36 (+0.5%)
- closed below delta neutral at 50.42 vs 50.46 (-0.1%)
- closed below gamma max at 53.50 vs 54.96 (-2.7%)
- closed above gamma max at 55.07 vs 54.90 (+0.3%)
- closed above delta neutral at 43.90 vs 43.86 (+0.1%)
- closed below delta neutral at 42.40 vs 42.78 (-0.9%)
- closed below gamma max at 42.40 vs 45.62 (-7.6%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/UBS
Questions people ask about UBS
Where is UBS's gamma max today?
As of Oct 2, 2026, the gamma max for UBS is 56.12, +17.6% from the 47.71 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 UBS above or below its delta neutral price?
UBS closed below delta neutral: 47.71 against a delta neutral price of 48.50. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does UBS have?
110,575 contracts of open interest across 159 listed contracts on Oct 2, 2026, +6.3% 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.