Data through close

VAW max pain, gamma exposure (GEX) & options open interest

As of close · rank #4041 by open interest · snapshot page

VAW's nearest-expiration max pain is 225.00 for 2026-11-20, its GEX flip is 308.63, net GEX is -30,839, its put/call open-interest ratio is 1.51. These are whole-chain derived aggregates as of Oct 23, 2026 close.

VAW max pain and GEX snapshot

End-of-day snapshot for . Nearest-expiration max pain uses the expiry shown on its card; GEX uses the whole chain. Missing values are unavailable, not zero.

Nearest-expiration max pain
225.00
+0.3% from close
Expiry: 2026-11-20
GEX flip
308.63
+37.6% from close
Net GEX
-30,839
-6,478,879 per 100k OI
Call wall
205.00
-8.6% from close
Put wall
240.00
+7.0% from close
Put/call OI
1.51
286 puts / 190 calls

Prices are in US dollars per share. Net GEX is modeled dollar-delta change per $1 underlying move. Max pain minimizes aggregate intrinsic payout for that expiration; it is not a closing-price forecast. Signed GEX uses calls positive and puts negative, a model convention rather than observed dealer inventory. The flip is a confirmed zero crossing; walls locate side-specific concentrations, not guaranteed support or resistance.

Learn how to read the max pain payout example, GEX chart, gamma flip and walls, and open interest versus trading volume.

Close
224.32
prev 226.50
Gamma max
355.78
+58.6% from close
Delta neutral
231.48
+3.2% from close
Gamma neutral
308.63
+37.6% from close
Open interest
476
0.0% vs prev
Contracts listed
64
36 calls · 29 puts

Advanced options analysis

Public aggregate 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.

Catalyst intensity
–
cross-sectional score / 100
Directional score
–
IV rank
11.4
within trailing 52-week range
Front IV premium
1.2 pp
front minus back volatility difference
25Δ risk reversal
3.3 pp
put IV minus call IV
IV butterfly
– pp
front-window smile convexity
Volume / open interest
0.01
7 contracts traded
Normalized net delta
-0.050
option-holder convention
Modeled dealer delta
0.050
opposite-side scenario
Vanna / 100k OI
-3,151
volatility-sensitive delta
Charm / 100k OI
0
time-decay-sensitive delta
IV surface range
76.2 pp
aggregate volatility dispersion

Download the dated aggregate analysis JSON .

VAW closed 58.6% below its gamma max of 355.78. It is 3.2% below the delta neutral price of 231.48. Total open interest is 476, 0.0% versus the previous session. What gamma max means · What delta neutral means

History

Full history since 2020: drag to pan, scroll to zoom, hover for values. Open full-screen chart

Analysis visualizations

Daily ticker aggregates through 2026-10-23. The max pain curve pools all listed expirations; individual contracts are outside the public dataset.

Aggregate IV history

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Neighbours by open interest

Questions people ask about VAW

What is VAW's max pain for the nearest expiration?

As of Oct 23, 2026 close, nearest-expiration max pain is 225.00 for the 2026-11-20 expiration. It is a payout-minimizing strike for one expiration. An all-expiration pooled value is a different comparison, and neither establishes where the underlying will close. Max pain definition and worked payout example.

Our 2025 max-pain study compares historical Thursday levels with Friday underlying closes and an unchanged-price baseline. Its scope and results are separate from this current ticker snapshot.

What do VAW's gamma exposure and gamma flip show?

Signed net GEX is -30,839 as of Oct 23, 2026 close. The confirmed GEX flip is 308.63. These aggregate model outputs use calls positive and puts negative. Their sign does not identify dealers' actual positions or predict the next move. How to interpret GEX, gamma flip and walls.

Where is VAW's gamma max today?

As of Oct 23, 2026, the gamma max for VAW is 355.78, +58.6% from the 224.32 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 VAW above or below its delta neutral price?

VAW closed below delta neutral: 224.32 against a delta neutral price of 231.48. The delta neutral price is where the summed delta of the whole chain is zero; the definition.

How much open interest does VAW have?

476 contracts of open interest across 64 listed contracts on Oct 23, 2026, 0.0% 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.