# UNG: options-positioning snapshot

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

| Published field | Value |
| --- | --- |
| Close (USD/share) | 10.47 |
| Delta neutral (USD/share) | 9.05 |
| Gamma neutral (USD/share) | 5.14 |
| Gamma max (USD/share) | 11.51 |
| Open interest (contracts) | 489,303 |
| Nearest-expiration max pain (USD/share) | 10.50 (2026-10-07) |
| All-expiration max pain (USD/share) | 10.00 |
| Net gamma exposure | 27,061,687 |
| Confirmed GEX flip (USD/share) | 5.14 |
| Call wall (USD/share) | 10.00 |
| Put wall (USD/share) | 10.00 |
| Put/call open-interest ratio | 0.31 |
| Options catalyst-intensity score (0–100) | 62.6 |
| Options directional score (-100 to +100) | 23.2 |
| IV rank | 52.5 |
| Front ATM IV | +51.4% |
| Front-minus-back IV | -1.1 pp |
| Front expected move | +6.0% |
| Front ATM straddle / spot | +4.3% |
| Front 25-delta risk reversal | -2.4 pp |
| Call OI change, 1 session | +23,351 contracts · +6.7% |
| Put OI change, 1 session | -3,120 contracts · -2.6% |
| Call minus put OI growth, 1 session | +9.3 pp |
| Call OI change, 5 sessions | +37,578 contracts · +11.2% |
| Put OI change, 5 sessions | -516 contracts · -0.4% |
| Call minus put OI growth, 5 sessions | +11.6 pp |
| Daily call OI change surprise | +1.24σ (252 prior changes) |
| Daily put OI change surprise | -0.33σ (252 prior changes) |
| Daily call-minus-put growth surprise | +1.46σ (252 prior changes) |
| Daily open interest change (contracts) | 20,231 |
| Daily open interest change z-score (prior 252) | +0.76σ (252 prior changes) |
| Gamma max distance from close | +10.0% |
| Delta neutral distance from close | -13.6% |
| Prior-year sessions closer to gamma max | 59.9% of 252 |
| Prior-year sessions closer to delta neutral | 77.0% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 29 | +0.7% | -3.4% to +4.1% | 55% | -1.3% to +2.7% | 0.0% |
| above | Day +3 | 29 | -0.8% | -5.6% to +4.6% | 48% | -4.1% to +4.2% | 0.0% |
| above | Day +5 | 29 | +1.9% | -7.3% to +4.6% | 55% | -6.1% to +4.0% | 0.0% |
| above | Day +10 | 28 | -0.0% | -7.9% to +6.6% | 50% | -6.2% to +4.9% | 0.0% |
| below | Day +1 | 26 | +0.1% | -1.6% to +2.9% | 54% | -1.5% to +1.4% | 0.0% |
| below | Day +3 | 26 | +0.1% | -3.8% to +2.8% | 54% | -1.8% to +2.2% | 0.0% |
| below | Day +5 | 26 | +1.2% | -3.0% to +5.4% | 58% | -2.1% to +3.6% | 0.0% |
| below | Day +10 | 25 | +5.5% | -9.9% to +11.7% | 56% | -8.8% to +11.1% | 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/UNG.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/UNG.csv)
- [Complete advanced analysis](https://halfonadouble.com/api/v1/analysis/UNG.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).