UNH max pain, gamma exposure (GEX) & options open interest
As of close · rank #119 by open interest · 1,394 sessions of history since Dec 1, 2020
UNH's nearest-expiration max pain is 375.00 for 2026-10-09, its GEX flip is 380.74, net GEX is -9,797,791, its put/call open-interest ratio is 0.84. 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: front IV premium 1.0 pp
UNH closed 18.8% below its gamma max of 441.83. It is 2.7% above the delta neutral price of 361.90. Total open interest is 849,336, -3.2% versus the previous session. Its options catalyst-intensity score is 52.0 out of 100, led by front IV premium 1.0 pp. 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 | -12,537 contracts · -2.6% |
| Put OI change, 1 session | -15,329 contracts · -3.8% |
| Call minus put OI growth, 1 session | +1.2 pp |
| Call OI change, 5 sessions | +9,874 contracts · +2.2% |
| Put OI change, 5 sessions | +7,301 contracts · +1.9% |
| Call minus put OI growth, 5 sessions | +0.3 pp |
| Daily call OI change surprise | -0.28σ (252 prior changes) |
| Daily put OI change surprise | -0.63σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.96σ (252 prior changes) |
History
Hover for valuesDrag to panScroll to zoomClick a series to hide it ← → step a session+ − zoomTouch: swipe to pan, pinch to zoom, hold for the crosshair
Analysis visualizations
Derived from the 2026-10-02 options chain. Select an analysis to explore its chart.
No matching visualizations.
Gamma walls
Chart loads when this section is in view.
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 11 completed Day +10 paths · latest May 14, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 11 | -0.7% | -1.0% to +0.7% | 45% | -1.3% to +1.1% | 0.0% |
| Day +2 | 11 | -0.3% | -1.5% to +0.8% | 36% | -1.7% to +1.7% | 0.0% |
| Day +3 | 11 | -0.5% | -1.5% to +0.9% | 45% | -2.3% to +1.4% | 0.0% |
| Day +4 | 11 | -0.7% | -2.8% to +0.6% | 36% | -3.5% to +0.7% | 0.0% |
| Day +5 | 11 | -1.0% | -3.0% to +0.2% | 36% | -3.3% to +0.3% | 0.0% |
| Day +6 | 11 | -1.1% | -2.9% to +0.8% | 36% | -3.1% to +1.6% | 0.0% |
| Day +7 | 11 | -1.0% | -3.2% to +0.8% | 27% | -3.5% to +1.6% | 0.0% |
| Day +8 | 11 | -1.6% | -3.4% to +0.8% | 27% | -3.8% to +1.6% | 0.0% |
| Day +9 | 11 | -2.5% | -4.3% to +0.6% | 36% | -4.4% to +1.0% | 0.0% |
| Day +10 | 11 | -3.2% | -4.6% to +0.9% | 45% | -4.7% to +1.5% | 0.0% |
Crosses above gamma max 11 completed Day +10 paths · latest May 12, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 11 | -0.3% | -0.6% to +0.9% | 45% | -0.7% to +1.0% | 0.0% |
| Day +2 | 11 | +0.7% | -1.2% to +1.4% | 55% | -1.2% to +1.6% | 0.0% |
| Day +3 | 11 | +0.9% | -2.0% to +1.4% | 55% | -2.1% to +1.5% | 0.0% |
| Day +4 | 11 | -0.0% | -1.5% to +2.1% | 45% | -1.6% to +2.3% | 0.0% |
| Day +5 | 11 | -0.4% | -3.2% to +0.5% | 36% | -4.0% to +1.0% | 0.0% |
| Day +6 | 11 | -1.8% | -3.5% to +0.4% | 36% | -3.8% to +0.6% | 0.0% |
| Day +7 | 11 | -2.9% | -3.6% to +0.7% | 36% | -3.8% to +1.0% | 0.0% |
| Day +8 | 11 | -2.0% | -3.6% to +1.4% | 36% | -3.9% to +1.7% | 0.0% |
| Day +9 | 11 | -1.8% | -3.8% to +1.6% | 36% | -4.9% to +2.3% | 0.0% |
| Day +10 | 11 | -0.2% | -4.3% to +1.4% | 36% | -4.8% to +1.7% | 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 | 1% |
| Gamma max crosses | 2 |
| Delta neutral crosses | 14 |
| Prior-year sessions closer to gamma max | 80.2% of 252 |
| Prior-year sessions closer to delta neutral | 19.4% of 252 |
| Open interest percentile (1y) | 3th |
| Daily open interest change versus prior year | -0.42σ (-27,866 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +2.1% |
| Open interest change, 21 sessions | -6.4% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 399.09 vs 402.19 (-0.8%)
- closed above gamma max at 396.39 vs 393.62 (+0.7%)
- closed above delta neutral at 281.36 vs 278.10 (+1.2%)
- closed below delta neutral at 280.44 vs 283.06 (-0.9%)
- closed above delta neutral at 285.49 vs 283.50 (+0.7%)
- closed below delta neutral at 277.15 vs 282.74 (-2.0%)
- closed above delta neutral at 285.25 vs 284.02 (+0.4%)
- closed below delta neutral at 286.48 vs 287.53 (-0.4%)
- closed above delta neutral at 286.66 vs 285.55 (+0.4%)
- closed below delta neutral at 282.34 vs 286.27 (-1.4%)
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/UNH
Questions people ask about UNH
Where is UNH's gamma max today?
As of Oct 2, 2026, the gamma max for UNH is 441.83, +18.8% from the 371.90 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 UNH above or below its delta neutral price?
UNH closed above delta neutral: 371.90 against a delta neutral price of 361.90. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does UNH have?
849,336 contracts of open interest across 1,183 listed contracts on Oct 2, 2026, -3.2% 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.