UVXY max pain, gamma exposure (GEX) & options open interest
As of close · rank #382 by open interest · 1,381 sessions of history since Dec 1, 2020
UVXY's nearest-expiration max pain is 16.00 for 2026-10-09, its GEX flip is 11.58, net GEX is 8,107,508, its put/call open-interest ratio is 0.59. 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: volume/OI 0.20 · 25Δ risk reversal -17.5 pp · IV rank 90
UVXY closed 16.2% below its gamma max of 19.72. It is 4.0% above the delta neutral price of 16.30. Total open interest is 218,995, -14.8% versus the previous session. Its options catalyst-intensity score is 47.6 out of 100, led by volume/OI 0.20, 25Δ risk reversal -17.5 pp, IV rank 90. 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 | -29,766 contracts · -17.8% |
| Put OI change, 1 session | -8,247 contracts · -9.2% |
| Call minus put OI growth, 1 session | -8.6 pp |
| Call OI change, 5 sessions | +14,973 contracts · +12.2% |
| Put OI change, 5 sessions | +20,885 contracts · +34.4% |
| Call minus put OI growth, 5 sessions | -22.2 pp |
| Daily call OI change surprise | -1.16σ (249 prior changes) |
| Daily put OI change surprise | -0.73σ (249 prior changes) |
| Daily call-minus-put growth surprise | -0.96σ (249 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 above gamma max 30 completed Day +10 paths · latest Aug 13, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 30 | -2.5% | -6.6% to +3.6% | 40% | -4.5% to +1.6% | 0.0% |
| Day +2 | 30 | -1.1% | -5.6% to +4.1% | 43% | -4.5% to +1.4% | 0.0% |
| Day +3 | 30 | -2.6% | -6.8% to +7.7% | 40% | -5.1% to +1.1% | 0.0% |
| Day +4 | 30 | -3.7% | -9.7% to +6.8% | 33% | -7.1% to -1.6% | -1.6% |
| Day +5 | 30 | -3.0% | -6.8% to +3.1% | 37% | -6.1% to +0.2% | 0.0% |
| Day +6 | 30 | -3.8% | -10.1% to +3.9% | 37% | -6.8% to +0.7% | 0.0% |
| Day +7 | 30 | -5.6% | -11.3% to +2.6% | 33% | -8.2% to -2.2% | -2.2% |
| Day +8 | 30 | -7.6% | -11.9% to -0.0% | 27% | -9.8% to -2.5% | -2.5% |
| Day +9 | 30 | -5.6% | -13.6% to +5.6% | 33% | -11.2% to -0.7% | -0.7% |
| Day +10 | 30 | -4.7% | -11.5% to +1.9% | 27% | -9.8% to -0.6% | -0.6% |
Crosses below gamma max 22 completed Day +10 paths · latest Jun 23, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 22 | -1.9% | -5.9% to +0.4% | 27% | -5.4% to -0.3% | -0.3% |
| Day +2 | 22 | -4.2% | -5.9% to +0.9% | 27% | -5.5% to -0.1% | -0.1% |
| Day +3 | 22 | -5.1% | -7.6% to -0.2% | 27% | -7.0% to -1.1% | -1.1% |
| Day +4 | 22 | -1.4% | -7.5% to +5.8% | 41% | -5.6% to +3.5% | 0.0% |
| Day +5 | 22 | -4.3% | -10.2% to +2.6% | 32% | -8.3% to +0.2% | 0.0% |
| Day +6 | 22 | -4.8% | -11.5% to -0.6% | 23% | -11.0% to -2.0% | -2.0% |
| Day +7 | 22 | -6.1% | -11.0% to +0.6% | 27% | -9.9% to -1.3% | -1.3% |
| Day +8 | 22 | -6.6% | -12.3% to +2.9% | 36% | -10.2% to +2.6% | 0.0% |
| Day +9 | 22 | -6.0% | -12.3% to +3.7% | 32% | -11.6% to +2.5% | 0.0% |
| Day +10 | 22 | -6.3% | -12.2% to +4.2% | 36% | -12.0% to +3.4% | 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 | 12% |
| Gamma max crosses | 46 |
| Delta neutral crosses | 36 |
| Prior-year sessions closer to gamma max | 80.2% of 252 |
| Prior-year sessions closer to delta neutral | 38.5% of 252 |
| Open interest percentile (1y) | 65th |
| Daily open interest change versus prior year | -1.02σ (-38,013 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +19.6% |
| Open interest change, 21 sessions | -7.7% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed above delta neutral at 17.04 vs 16.41 (+3.7%)
- closed below delta neutral at 16.63 vs 16.78 (-0.9%)
- closed above delta neutral at 17.53 vs 16.94 (+3.3%)
- closed below delta neutral at 17.44 vs 17.54 (-0.6%)
- closed above delta neutral at 17.93 vs 17.64 (+1.6%)
- closed below delta neutral at 17.97 vs 18.11 (-0.8%)
- closed above delta neutral at 18.82 vs 18.31 (+2.7%)
- closed below delta neutral at 18.95 vs 19.14 (-1.0%)
- closed above delta neutral at 19.52 vs 19.52 (+0.0%)
- closed below delta neutral at 19.59 vs 20.14 (-2.8%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/UVXY
Questions people ask about UVXY
Where is UVXY's gamma max today?
As of Oct 2, 2026, the gamma max for UVXY is 19.72, +16.2% from the 16.97 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 UVXY above or below its delta neutral price?
UVXY closed above delta neutral: 16.97 against a delta neutral price of 16.30. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does UVXY have?
218,995 contracts of open interest across 848 listed contracts on Oct 2, 2026, -14.8% 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.