UNIT max pain, gamma exposure (GEX) & options open interest
As of close · rank #551 by open interest · 1,393 sessions of history since Dec 1, 2020
UNIT's nearest-expiration max pain is 9.00 for 2026-10-16, its GEX flip is 6.03, net GEX is 7,884,361, its put/call open-interest ratio is 0.10. 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 2.88σ · 14d expected move +17.1% · front IV premium 3.6 pp
UNIT closed 4.6% below its gamma max of 8.41. It is 46.4% above the delta neutral price of 4.31. Total open interest is 128,944, +6.6% versus the previous session. Its options catalyst-intensity score is 64.6 out of 100, led by OI change 2.88σ, 14d expected move +17.1%, front IV premium 3.6 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 | +8,031 contracts · +7.4% |
| Put OI change, 1 session | +8 contracts · +0.1% |
| Call minus put OI growth, 1 session | +7.3 pp |
| Call OI change, 5 sessions | +19,646 contracts · +20.1% |
| Put OI change, 5 sessions | +258 contracts · +2.3% |
| Call minus put OI growth, 5 sessions | +17.9 pp |
| Daily call OI change surprise | +3.35σ (252 prior changes) |
| Daily put OI change surprise | -0.02σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.86σ (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 35 completed Day +10 paths · latest Sep 16, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 35 | -0.4% | -1.3% to +1.6% | 46% | -1.2% to +0.8% | 0.0% |
| Day +2 | 35 | -0.6% | -2.1% to +1.2% | 43% | -1.2% to +1.0% | 0.0% |
| Day +3 | 35 | -1.0% | -3.2% to +0.7% | 37% | -2.0% to +0.1% | 0.0% |
| Day +4 | 35 | -1.9% | -3.7% to +1.1% | 34% | -2.8% to -0.6% | -0.6% |
| Day +5 | 35 | -1.5% | -4.2% to +0.6% | 37% | -3.8% to +0.1% | 0.0% |
| Day +6 | 35 | -1.7% | -4.2% to +1.1% | 37% | -3.3% to +0.3% | 0.0% |
| Day +7 | 35 | -1.5% | -5.4% to +1.3% | 34% | -3.2% to -0.2% | -0.2% |
| Day +8 | 35 | -1.3% | -6.8% to +0.5% | 29% | -4.1% to -0.5% | -0.5% |
| Day +9 | 35 | -2.9% | -6.5% to +0.8% | 29% | -5.5% to -0.7% | -0.7% |
| Day +10 | 35 | -2.0% | -5.9% to +0.8% | 31% | -5.5% to -0.6% | -0.6% |
Crosses above gamma max 33 completed Day +10 paths · latest Sep 14, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 33 | +0.2% | -1.5% to +1.4% | 52% | -0.6% to +0.8% | 0.0% |
| Day +2 | 33 | -0.3% | -1.9% to +2.7% | 48% | -0.9% to +2.0% | 0.0% |
| Day +3 | 33 | -0.8% | -3.5% to +2.1% | 42% | -1.3% to +1.0% | 0.0% |
| Day +4 | 33 | -1.5% | -3.0% to +0.5% | 27% | -2.8% to -0.2% | -0.2% |
| Day +5 | 33 | -1.0% | -4.1% to +0.7% | 30% | -2.7% to -0.3% | -0.3% |
| Day +6 | 33 | -1.7% | -4.3% to +2.0% | 39% | -3.0% to +0.6% | 0.0% |
| Day +7 | 33 | -1.4% | -6.0% to +1.9% | 39% | -4.7% to +0.6% | 0.0% |
| Day +8 | 33 | -1.7% | -5.6% to +0.9% | 33% | -4.6% to -0.4% | -0.4% |
| Day +9 | 33 | -1.6% | -5.7% to +1.5% | 33% | -3.0% to -0.3% | -0.3% |
| Day +10 | 33 | -2.9% | -7.7% to +0.7% | 33% | -6.7% to -0.8% | -0.8% |
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 | 41% |
| Gamma max crosses | 32 |
| Delta neutral crosses | 0 |
| Prior-year sessions closer to gamma max | 40.1% of 252 |
| Prior-year sessions closer to delta neutral | 73.0% of 252 |
| Open interest percentile (1y) | 100th |
| Daily open interest change versus prior year | +2.88σ (8,039 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +18.3% |
| Open interest change, 21 sessions | +23.1% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 9.54 vs 10.06 (-5.5%)
- closed above gamma max at 9.72 vs 9.67 (+0.5%)
- closed below gamma max at 10.14 vs 10.46 (-3.2%)
- closed above gamma max at 9.85 vs 9.82 (+0.3%)
- closed below gamma max at 9.29 vs 10.45 (-12.5%)
- closed above gamma max at 10.37 vs 10.36 (+0.1%)
- closed below gamma max at 10.82 vs 10.89 (-0.7%)
- closed above gamma max at 11.11 vs 10.10 (+9.1%)
- closed below gamma max at 10.90 vs 11.56 (-6.1%)
- closed above gamma max at 10.76 vs 10.58 (+1.7%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/UNIT
Questions people ask about UNIT
Where is UNIT's gamma max today?
As of Oct 2, 2026, the gamma max for UNIT is 8.41, +4.6% from the 8.04 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 UNIT above or below its delta neutral price?
UNIT closed above delta neutral: 8.04 against a delta neutral price of 4.31. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does UNIT have?
128,944 contracts of open interest across 81 listed contracts on Oct 2, 2026, +6.6% 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.