Data through close

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

As of close

VBR's nearest-expiration max pain is 240.00 for the Fri, Nov 20, 2026 expiration, 2.5% below the 246.18 close; all-expiration max pain is 230.00; the GEX flip is 162.40; net GEX is 553.21K (modeled dollar-delta change per $1 move); the put/call open-interest ratio is 0.14. These are whole-chain derived aggregates as of Nov 13, 2026 close.

VBR 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
240.00
-2.5% from close
Expiry: Fri, Nov 20, 2026
All-expiration max pain: 230.00
GEX flip (gamma neutral)
162.40
-34.0% from close
Net GEX
553,206
49,217,586 per 100k OI
Call wall
250.00
+1.6% from close
Put wall
240.00
-2.5% from close
Put/call OI
0.14
139 puts / 985 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
246.18
prev 245.86
Gamma max
249.64
+1.4% from close
Delta neutral
223.30
-9.3% from close
Gamma neutral (GEX flip)
162.40
-34.0% from close
Open interest
1,124
+0.1% vs prev
Contracts listed
89
64 calls · 28 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
5.8
within trailing 52-week range
Front IV premium
3.9 pp
front minus back volatility difference
25Δ risk reversal
– pp
put IV minus call IV
IV butterfly
– pp
front-window smile convexity
Volume / open interest
0.02
23 contracts traded
Normalized net delta
0.296
option-holder convention
Modeled dealer delta
-0.274
opposite-side scenario
Vanna / 100k OI
534
volatility-sensitive delta
Charm / 100k OI
-7,969,484
time-decay-sensitive delta
IV surface range
23.0 pp
aggregate volatility dispersion

Download the dated aggregate analysis JSON .

VBR closed 1.4% below its gamma max of 249.64. It is 9.3% above the delta neutral price of 223.30. Total open interest is 1,124, +0.1% 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 2026-11-13. This analysis view omits individual contract fields.

To see all-expiration max pain over time, open the History chart and select “All-expiration max pain” under More series.

Aggregate IV history

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In today's screens

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Neighbours by open interest

Cite or embed this snapshot

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Canonical source: https://halfonadouble.com/stock/VBR

Questions people ask about VBR

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

As of Nov 13, 2026 close, nearest-expiration max pain is 240.00 for the Fri, Nov 20, 2026 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 VBR's gamma exposure and gamma flip show?

Signed net GEX is 553,206 as of Nov 13, 2026 close. The confirmed GEX flip is 162.40. 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 VBR's gamma max today?

As of Nov 13, 2026, the gamma max for VBR is 249.64, +1.4% from the 246.18 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 VBR above or below its delta neutral price?

VBR closed above delta neutral: 246.18 against a delta neutral price of 223.30. The delta neutral price is where the summed delta of the whole chain is zero; the definition.

How much open interest does VBR have?

1,124 contracts of open interest across 89 listed contracts on Nov 13, 2026, +0.1% 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.