VIAV max pain, gamma exposure (GEX) & options open interest
As of close · rank #636 by open interest · 1,394 sessions of history since Dec 1, 2020
VIAV's nearest-expiration max pain is 37.00 for 2026-10-16, its GEX flip is 30.05, net GEX is 6,007,277, its put/call open-interest ratio is 0.35. 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: 14d expected move +14.8% · volume/OI 0.22 · OI change 0.14σ
VIAV closed 11.4% above its gamma max of 41.73. It is 29.8% above the delta neutral price of 33.08. Total open interest is 100,140, +1.4% versus the previous session. Its options catalyst-intensity score is 62.9 out of 100, led by 14d expected move +14.8%, volume/OI 0.22, OI change 0.14σ. 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 | +1,350 contracts · +1.8% |
| Put OI change, 1 session | +32 contracts · +0.1% |
| Call minus put OI growth, 1 session | +1.7 pp |
| Call OI change, 5 sessions | +9,591 contracts · +14.8% |
| Put OI change, 5 sessions | +289 contracts · +1.1% |
| Call minus put OI growth, 5 sessions | +13.7 pp |
| Daily call OI change surprise | +0.21σ (252 prior changes) |
| Daily put OI change surprise | -0.02σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.27σ (251 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 49 completed Day +10 paths · latest Sep 29, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 50 | +0.2% | -0.5% to +1.1% | 58% | -0.2% to +0.7% | 0.0% |
| Day +2 | 50 | +0.8% | -0.3% to +2.1% | 68% | +0.2% to +1.2% | +0.2% |
| Day +3 | 50 | +0.7% | -1.0% to +2.3% | 66% | +0.1% to +1.0% | +0.1% |
| Day +4 | 49 | +1.3% | -2.0% to +3.2% | 59% | -0.2% to +2.2% | 0.0% |
| Day +5 | 49 | +1.1% | -2.5% to +3.0% | 59% | -1.3% to +2.5% | 0.0% |
| Day +6 | 49 | +0.1% | -2.2% to +3.8% | 51% | -0.8% to +2.4% | 0.0% |
| Day +7 | 49 | +1.5% | -1.2% to +3.8% | 59% | -0.6% to +2.7% | 0.0% |
| Day +8 | 49 | +1.5% | -3.0% to +4.1% | 57% | -0.9% to +3.3% | 0.0% |
| Day +9 | 49 | +1.5% | -1.9% to +5.4% | 63% | +0.1% to +3.5% | +0.1% |
| Day +10 | 49 | +1.6% | -1.8% to +6.3% | 63% | +0.2% to +4.4% | +0.2% |
Crosses below gamma max 49 completed Day +10 paths · latest May 4, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 49 | +0.6% | -0.7% to +1.9% | 57% | -0.3% to +1.0% | 0.0% |
| Day +2 | 49 | +0.1% | -1.8% to +1.8% | 51% | -1.3% to +0.9% | 0.0% |
| Day +3 | 49 | +0.3% | -1.3% to +2.5% | 57% | -0.1% to +1.5% | 0.0% |
| Day +4 | 49 | +0.1% | -2.1% to +2.5% | 51% | -0.5% to +1.8% | 0.0% |
| Day +5 | 49 | +0.3% | -2.9% to +3.9% | 55% | -0.3% to +2.4% | 0.0% |
| Day +6 | 49 | +1.7% | -1.6% to +3.5% | 57% | -0.7% to +2.8% | 0.0% |
| Day +7 | 49 | +1.7% | -2.4% to +4.3% | 61% | -0.8% to +3.1% | 0.0% |
| Day +8 | 49 | +1.4% | -1.8% to +4.8% | 63% | +0.5% to +3.3% | +0.5% |
| Day +9 | 49 | +3.1% | -1.7% to +6.3% | 61% | -0.1% to +3.7% | 0.0% |
| Day +10 | 49 | +2.2% | -1.6% to +7.4% | 67% | +0.6% to +5.1% | +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 | 39% |
| Gamma max crosses | 28 |
| Delta neutral crosses | 0 |
| Prior-year sessions closer to gamma max | 61.5% of 252 |
| Prior-year sessions closer to delta neutral | 73.8% of 252 |
| Open interest percentile (1y) | 69th |
| Daily open interest change versus prior year | +0.14σ (1,382 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +10.9% |
| Open interest change, 21 sessions | -27.7% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed above gamma max at 41.82 vs 41.65 (+0.4%)
- closed below gamma max at 52.49 vs 54.58 (-4.0%)
- closed above gamma max at 55.33 vs 54.65 (+1.2%)
- closed below gamma max at 41.16 vs 45.11 (-9.6%)
- closed above gamma max at 39.26 vs 38.17 (+2.8%)
- closed below gamma max at 42.77 vs 42.82 (-0.1%)
- closed above gamma max at 41.41 vs 40.14 (+3.1%)
- closed below gamma max at 34.44 vs 36.96 (-7.3%)
- closed above gamma max at 35.94 vs 34.59 (+3.8%)
- closed below gamma max at 33.61 vs 34.26 (-1.9%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/VIAV
Questions people ask about VIAV
Where is VIAV's gamma max today?
As of Oct 2, 2026, the gamma max for VIAV is 41.73, -11.4% from the 47.10 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 VIAV above or below its delta neutral price?
VIAV closed above delta neutral: 47.10 against a delta neutral price of 33.08. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does VIAV have?
100,140 contracts of open interest across 410 listed contracts on Oct 2, 2026, +1.4% 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.