UPS max pain, gamma exposure (GEX) & options open interest
As of close · rank #252 by open interest · 1,394 sessions of history since Dec 1, 2020
UPS's nearest-expiration max pain is 95.00 for 2026-10-09, its GEX flip is 96.51, net GEX is -13,915,377, its put/call open-interest ratio is 0.85. 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: IV rank 100
UPS closed 18.0% below its gamma max of 109.74. It is 5.0% below the delta neutral price of 97.69. Total open interest is 386,738, -2.0% versus the previous session. Its options catalyst-intensity score is 37.2 out of 100, led by IV rank 100. 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 | -3,655 contracts · -1.7% |
| Put OI change, 1 session | -4,262 contracts · -2.3% |
| Call minus put OI growth, 1 session | +0.6 pp |
| Call OI change, 5 sessions | +8,587 contracts · +4.3% |
| Put OI change, 5 sessions | +6,816 contracts · +4.0% |
| Call minus put OI growth, 5 sessions | +0.3 pp |
| Daily call OI change surprise | -0.18σ (252 prior changes) |
| Daily put OI change surprise | -0.41σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.26σ (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 14 completed Day +10 paths · latest Jul 17, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 14 | -0.3% | -1.6% to +0.6% | 43% | -1.6% to +0.7% | 0.0% |
| Day +2 | 14 | -0.4% | -1.1% to +0.5% | 43% | -1.2% to +0.6% | 0.0% |
| Day +3 | 14 | -1.1% | -2.9% to +0.6% | 36% | -3.0% to +0.7% | 0.0% |
| Day +4 | 14 | -1.2% | -3.1% to +0.4% | 36% | -3.1% to +0.5% | 0.0% |
| Day +5 | 14 | -1.0% | -3.5% to +0.1% | 36% | -3.7% to +0.2% | 0.0% |
| Day +6 | 14 | -1.5% | -4.1% to -0.1% | 29% | -4.1% to +0.0% | 0.0% |
| Day +7 | 14 | -1.7% | -5.8% to +0.1% | 29% | -6.4% to +0.4% | 0.0% |
| Day +8 | 14 | -2.6% | -4.3% to +0.7% | 29% | -4.5% to +1.0% | 0.0% |
| Day +9 | 14 | -2.8% | -5.5% to -0.9% | 14% | -5.7% to -0.9% | -0.9% |
| Day +10 | 14 | -2.0% | -5.0% to -0.2% | 21% | -5.1% to -0.1% | -0.1% |
Crosses above gamma max 14 completed Day +10 paths · latest Jul 16, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 14 | +0.3% | -0.3% to +0.9% | 64% | -0.3% to +1.0% | 0.0% |
| Day +2 | 14 | +0.3% | -1.3% to +1.1% | 57% | -1.3% to +1.2% | 0.0% |
| Day +3 | 14 | +0.3% | -1.2% to +2.0% | 57% | -1.3% to +2.3% | 0.0% |
| Day +4 | 14 | -0.6% | -2.4% to +0.6% | 50% | -2.4% to +0.6% | 0.0% |
| Day +5 | 14 | -1.0% | -3.1% to +1.6% | 36% | -3.2% to +1.6% | 0.0% |
| Day +6 | 14 | -1.6% | -2.3% to +1.0% | 36% | -2.4% to +1.1% | 0.0% |
| Day +7 | 14 | -0.8% | -2.9% to +0.9% | 29% | -2.9% to +1.2% | 0.0% |
| Day +8 | 14 | -0.9% | -3.8% to -0.4% | 21% | -3.9% to -0.4% | -0.4% |
| Day +9 | 14 | -0.8% | -3.9% to +0.0% | 29% | -4.0% to +0.2% | 0.0% |
| Day +10 | 14 | -1.5% | -5.0% to -0.7% | 21% | -5.5% to -0.6% | -0.6% |
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 | 3% |
| Gamma max crosses | 10 |
| Delta neutral crosses | 27 |
| Prior-year sessions closer to gamma max | 98.4% of 252 |
| Prior-year sessions closer to delta neutral | 55.6% of 252 |
| Open interest percentile (1y) | 23th |
| Daily open interest change versus prior year | -0.28σ (-7,917 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +4.1% |
| Open interest change, 21 sessions | +2.7% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 98.80 vs 100.84 (-2.1%)
- closed above delta neutral at 102.46 vs 101.45 (+1.0%)
- closed below delta neutral at 100.49 vs 101.73 (-1.2%)
- closed above delta neutral at 102.00 vs 101.96 (+0.0%)
- closed below delta neutral at 102.60 vs 102.61 (-0.0%)
- closed above delta neutral at 102.86 vs 102.76 (+0.1%)
- closed below delta neutral at 102.02 vs 103.31 (-1.3%)
- closed above delta neutral at 105.54 vs 104.17 (+1.3%)
- closed below delta neutral at 103.93 vs 104.03 (-0.1%)
- closed above delta neutral at 104.48 vs 103.90 (+0.6%)
In today's screens
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Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/UPS
Questions people ask about UPS
Where is UPS's gamma max today?
As of Oct 2, 2026, the gamma max for UPS is 109.74, +18.0% from the 93.03 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 UPS above or below its delta neutral price?
UPS closed below delta neutral: 93.03 against a delta neutral price of 97.69. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does UPS have?
386,738 contracts of open interest across 616 listed contracts on Oct 2, 2026, -2.0% 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.