UCO max pain, gamma exposure (GEX) & options open interest
As of close · rank #605 by open interest · 1,394 sessions of history since Dec 1, 2020
UCO's nearest-expiration max pain is 45.00 for 2026-10-16, net GEX is -1,557,017, 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 0.18σ · 14d expected move +12.9%
UCO closed 37.8% below its gamma max of 75.00. It is 0.5% above the delta neutral price of 54.18. Total open interest is 107,427, +1.7% versus the previous session. Its options catalyst-intensity score is 53.4 out of 100, led by OI change 0.18σ, 14d expected move +12.9%. 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 | +85 contracts · +0.2% |
| Put OI change, 1 session | +1,738 contracts · +2.9% |
| Call minus put OI growth, 1 session | -2.7 pp |
| Call OI change, 5 sessions | -313 contracts · -0.7% |
| Put OI change, 5 sessions | +4,324 contracts · +7.5% |
| Call minus put OI growth, 5 sessions | -8.2 pp |
| Daily call OI change surprise | +0.00σ (252 prior changes) |
| Daily put OI change surprise | +0.41σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.21σ (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 above gamma max 80 completed Day +10 paths · latest Jul 7, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 80 | +0.7% | -1.4% to +2.5% | 59% | 0.0% to +1.5% | 0.0% |
| Day +2 | 80 | +1.5% | -1.7% to +3.6% | 59% | -0.1% to +2.2% | 0.0% |
| Day +3 | 80 | +0.6% | -4.1% to +3.1% | 56% | -0.4% to +1.9% | 0.0% |
| Day +4 | 80 | -0.1% | -4.8% to +3.3% | 50% | -2.4% to +1.0% | 0.0% |
| Day +5 | 80 | +0.6% | -4.6% to +4.2% | 53% | -0.6% to +2.0% | 0.0% |
| Day +6 | 80 | +0.9% | -4.3% to +5.4% | 57% | -0.3% to +3.1% | 0.0% |
| Day +7 | 80 | +0.7% | -5.4% to +5.6% | 54% | -2.1% to +2.7% | 0.0% |
| Day +8 | 80 | +0.3% | -6.5% to +6.4% | 51% | -3.3% to +2.2% | 0.0% |
| Day +9 | 80 | -0.2% | -6.6% to +7.0% | 48% | -3.1% to +3.1% | 0.0% |
| Day +10 | 80 | -0.4% | -6.2% to +7.7% | 45% | -3.0% to +1.6% | 0.0% |
Crosses below gamma max 77 completed Day +10 paths · latest May 13, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 77 | -0.0% | -2.5% to +1.7% | 49% | -0.9% to +0.7% | 0.0% |
| Day +2 | 77 | +0.2% | -4.2% to +3.0% | 52% | -1.2% to +1.2% | 0.0% |
| Day +3 | 77 | +0.6% | -4.2% to +4.1% | 57% | -1.2% to +2.5% | 0.0% |
| Day +4 | 77 | +1.6% | -4.2% to +5.9% | 61% | +0.3% to +2.6% | +0.3% |
| Day +5 | 77 | +1.4% | -3.7% to +6.2% | 60% | -0.1% to +2.7% | 0.0% |
| Day +6 | 77 | +0.7% | -5.1% to +5.0% | 55% | -1.7% to +2.8% | 0.0% |
| Day +7 | 77 | +1.2% | -6.1% to +5.0% | 57% | -1.6% to +2.1% | 0.0% |
| Day +8 | 77 | +2.0% | -5.9% to +5.9% | 53% | -1.5% to +4.2% | 0.0% |
| Day +9 | 77 | +1.2% | -6.6% to +6.5% | 55% | -1.4% to +3.2% | 0.0% |
| Day +10 | 77 | +1.3% | -7.6% to +7.8% | 53% | -1.5% to +4.1% | 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 | 19% |
| Gamma max crosses | 20 |
| Delta neutral crosses | 23 |
| Prior-year sessions closer to gamma max | 96.4% of 252 |
| Prior-year sessions closer to delta neutral | 4.4% of 252 |
| Open interest percentile (1y) | 71th |
| Daily open interest change versus prior year | +0.18σ (1,823 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +3.9% |
| Open interest change, 21 sessions | +9.6% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed above delta neutral at 53.39 vs 53.10 (+0.6%)
- closed below delta neutral at 51.96 vs 52.06 (-0.2%)
- closed above delta neutral at 53.11 vs 53.07 (+0.1%)
- closed below delta neutral at 51.92 vs 51.98 (-0.1%)
- closed above delta neutral at 42.69 vs 42.53 (+0.4%)
- closed below delta neutral at 41.75 vs 41.96 (-0.5%)
- closed above delta neutral at 41.21 vs 38.36 (+6.9%)
- closed below delta neutral at 35.62 vs 37.40 (-5.0%)
- closed above delta neutral at 41.58 vs 38.55 (+7.3%)
- closed below delta neutral at 37.53 vs 37.59 (-0.2%)
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/UCO
Questions people ask about UCO
Where is UCO's gamma max today?
As of Oct 2, 2026, the gamma max for UCO is 75.00, +37.8% from the 54.43 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 UCO above or below its delta neutral price?
UCO closed above delta neutral: 54.43 against a delta neutral price of 54.18. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does UCO have?
107,427 contracts of open interest across 469 listed contracts on Oct 2, 2026, +1.7% 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.