URA max pain, gamma exposure (GEX) & options open interest
As of close · rank #262 by open interest · 1,394 sessions of history since Dec 1, 2020
URA's nearest-expiration max pain is 41.50 for 2026-10-09, its GEX flip is 42.32, net GEX is -5,503,780, its put/call open-interest ratio is 0.81. 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: 25Δ risk reversal -144.9 pp · IV rank 100
URA closed 26.2% below its gamma max of 50.21. It is 7.7% below the delta neutral price of 42.85. Total open interest is 370,724, -1.9% versus the previous session. Its options catalyst-intensity score is 55.4 out of 100, led by 25Δ risk reversal -144.9 pp, 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 | -2,631 contracts · -1.3% |
| Put OI change, 1 session | -4,507 contracts · -2.6% |
| Call minus put OI growth, 1 session | +1.4 pp |
| Call OI change, 5 sessions | +690 contracts · +0.3% |
| Put OI change, 5 sessions | -477 contracts · -0.3% |
| Call minus put OI growth, 5 sessions | +0.6 pp |
| Daily call OI change surprise | -0.23σ (252 prior changes) |
| Daily put OI change surprise | -0.46σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.39σ (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 46 completed Day +10 paths · latest Jan 29, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 46 | -0.9% | -2.5% to +0.9% | 37% | -1.9% to +0.0% | 0.0% |
| Day +2 | 46 | -0.7% | -2.4% to +0.5% | 39% | -1.8% to +0.3% | 0.0% |
| Day +3 | 46 | -0.8% | -3.7% to +1.6% | 41% | -3.0% to +0.5% | 0.0% |
| Day +4 | 46 | -1.4% | -4.2% to +1.7% | 39% | -3.3% to +0.2% | 0.0% |
| Day +5 | 46 | -1.0% | -3.9% to +3.0% | 46% | -3.3% to +2.0% | 0.0% |
| Day +6 | 46 | -0.4% | -4.2% to +3.6% | 50% | -3.7% to +1.2% | 0.0% |
| Day +7 | 46 | -2.1% | -4.4% to +4.4% | 43% | -3.3% to +2.8% | 0.0% |
| Day +8 | 46 | -1.6% | -5.0% to +5.7% | 41% | -3.8% to +2.6% | 0.0% |
| Day +9 | 46 | -1.0% | -4.9% to +5.8% | 43% | -4.0% to +3.5% | 0.0% |
| Day +10 | 46 | -0.8% | -4.5% to +6.5% | 46% | -3.4% to +2.4% | 0.0% |
Crosses above gamma max 47 completed Day +10 paths · latest Jan 28, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 47 | -0.1% | -1.3% to +1.4% | 45% | -0.8% to +0.5% | 0.0% |
| Day +2 | 47 | -0.4% | -3.1% to +1.9% | 49% | -2.7% to +1.1% | 0.0% |
| Day +3 | 47 | -0.6% | -4.0% to +1.2% | 38% | -2.2% to +0.1% | 0.0% |
| Day +4 | 47 | -0.2% | -4.4% to +2.9% | 45% | -3.3% to +0.8% | 0.0% |
| Day +5 | 47 | -1.8% | -5.7% to +5.4% | 43% | -3.7% to +1.9% | 0.0% |
| Day +6 | 47 | -2.7% | -5.3% to +5.3% | 40% | -3.8% to +2.3% | 0.0% |
| Day +7 | 47 | -2.4% | -5.8% to +4.3% | 47% | -4.2% to +2.2% | 0.0% |
| Day +8 | 47 | -1.3% | -6.4% to +4.4% | 45% | -5.1% to +2.5% | 0.0% |
| Day +9 | 47 | -1.6% | -6.0% to +5.3% | 45% | -4.5% to +2.7% | 0.0% |
| Day +10 | 47 | -3.2% | -6.4% to +6.8% | 45% | -4.5% to +4.3% | 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 | 2% |
| Gamma max crosses | 8 |
| Delta neutral crosses | 19 |
| Prior-year sessions closer to gamma max | 85.7% of 252 |
| Prior-year sessions closer to delta neutral | 49.2% of 252 |
| Open interest percentile (1y) | 62th |
| Daily open interest change versus prior year | -0.35σ (-7,138 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +0.1% |
| Open interest change, 21 sessions | -1.6% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 41.99 vs 43.34 (-3.2%)
- closed above delta neutral at 43.74 vs 43.63 (+0.3%)
- closed below delta neutral at 43.53 vs 43.55 (-0.1%)
- closed above delta neutral at 42.49 vs 40.61 (+4.4%)
- closed below delta neutral at 39.89 vs 40.44 (-1.4%)
- closed above delta neutral at 40.97 vs 40.47 (+1.2%)
- closed below delta neutral at 40.90 vs 41.54 (-1.6%)
- closed above delta neutral at 41.55 vs 41.31 (+0.6%)
- closed below delta neutral at 40.72 vs 41.31 (-1.4%)
- closed above delta neutral at 42.35 vs 42.26 (+0.2%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/URA
Questions people ask about URA
Where is URA's gamma max today?
As of Oct 2, 2026, the gamma max for URA is 50.21, +26.2% from the 39.79 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 URA above or below its delta neutral price?
URA closed below delta neutral: 39.79 against a delta neutral price of 42.85. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does URA have?
370,724 contracts of open interest across 618 listed contracts on Oct 2, 2026, -1.9% 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.