VSH max pain, gamma exposure (GEX) & options open interest
As of close · rank #612 by open interest · 1,394 sessions of history since Dec 1, 2020
VSH's nearest-expiration max pain is 35.00 for 2026-10-16, its GEX flip is 31.17, net GEX is 2,635,496, its put/call open-interest ratio is 1.08. 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 -217.7 pp · 14d expected move +13.5% · volume/OI 0.18
VSH closed 4.3% below its gamma max of 39.83. It is 1.1% above the delta neutral price of 37.74. Total open interest is 105,956, +0.4% versus the previous session. Its options catalyst-intensity score is 60.6 out of 100, led by 25Δ risk reversal -217.7 pp, 14d expected move +13.5%, volume/OI 0.18. 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 | +346 contracts · +0.7% |
| Put OI change, 1 session | +106 contracts · +0.2% |
| Call minus put OI growth, 1 session | +0.5 pp |
| Call OI change, 5 sessions | +521 contracts · +1.0% |
| Put OI change, 5 sessions | -2,354 contracts · -4.1% |
| Call minus put OI growth, 5 sessions | +5.1 pp |
| Daily call OI change surprise | +0.05σ (252 prior changes) |
| Daily put OI change surprise | -0.06σ (252 prior changes) |
| Daily call-minus-put growth surprise | — (137 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 35 completed Day +10 paths · latest Jun 5, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 35 | -0.0% | -1.1% to +0.6% | 46% | -0.4% to +0.2% | 0.0% |
| Day +2 | 35 | -0.5% | -2.1% to +1.5% | 43% | -1.2% to +0.2% | 0.0% |
| Day +3 | 35 | -0.8% | -2.6% to +0.8% | 43% | -1.9% to +0.2% | 0.0% |
| Day +4 | 35 | -0.9% | -3.5% to +2.2% | 46% | -2.0% to +1.6% | 0.0% |
| Day +5 | 35 | +0.3% | -3.7% to +3.8% | 51% | -3.3% to +1.7% | 0.0% |
| Day +6 | 35 | -1.1% | -3.7% to +2.2% | 46% | -2.5% to +1.3% | 0.0% |
| Day +7 | 35 | -1.4% | -4.4% to +3.1% | 43% | -2.5% to +0.9% | 0.0% |
| Day +8 | 35 | -1.2% | -4.2% to +3.4% | 46% | -2.5% to +1.8% | 0.0% |
| Day +9 | 35 | -0.7% | -4.3% to +3.9% | 46% | -2.3% to +1.9% | 0.0% |
| Day +10 | 35 | -0.6% | -5.3% to +5.4% | 43% | -4.7% to +2.4% | 0.0% |
Crosses above gamma max 36 completed Day +10 paths · latest May 20, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 36 | +0.2% | -1.6% to +1.8% | 53% | -1.3% to +1.0% | 0.0% |
| Day +2 | 36 | +0.0% | -2.4% to +1.4% | 50% | -1.3% to +0.9% | 0.0% |
| Day +3 | 36 | +0.4% | -3.3% to +2.0% | 53% | -2.4% to +1.3% | 0.0% |
| Day +4 | 36 | -0.7% | -3.4% to +1.7% | 42% | -1.9% to +0.7% | 0.0% |
| Day +5 | 36 | +0.4% | -3.4% to +1.7% | 53% | -1.4% to +1.0% | 0.0% |
| Day +6 | 36 | +0.5% | -3.1% to +2.8% | 56% | -1.9% to +2.0% | 0.0% |
| Day +7 | 36 | +0.1% | -2.7% to +2.3% | 50% | -2.2% to +1.4% | 0.0% |
| Day +8 | 36 | -0.1% | -4.2% to +3.2% | 47% | -2.5% to +2.1% | 0.0% |
| Day +9 | 36 | -0.5% | -5.2% to +2.7% | 44% | -4.7% to +1.9% | 0.0% |
| Day +10 | 36 | +0.4% | -4.9% to +3.1% | 50% | -3.4% to +2.1% | 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 | 21% |
| Gamma max crosses | 12 |
| Delta neutral crosses | 8 |
| Prior-year sessions closer to gamma max | 11.1% of 252 |
| Prior-year sessions closer to delta neutral | 2.0% of 252 |
| Open interest percentile (1y) | 80th |
| Daily open interest change versus prior year | +0.01σ (452 contracts; 252 prior changes) |
| Open interest change, 5 sessions | -1.7% |
| Open interest change, 21 sessions | +3.3% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed above delta neutral at 38.18 vs 37.74 (+1.1%)
- closed below delta neutral at 33.18 vs 37.68 (-13.6%)
- closed above delta neutral at 38.86 vs 38.70 (+0.4%)
- closed below delta neutral at 38.21 vs 39.96 (-4.6%)
- closed above delta neutral at 39.78 vs 38.88 (+2.3%)
- closed below delta neutral at 45.92 vs 47.52 (-3.5%)
- closed below gamma max at 57.20 vs 60.93 (-6.5%)
- closed above gamma max at 40.16 vs 38.23 (+4.8%)
- closed below gamma max at 36.95 vs 37.37 (-1.1%)
- closed above gamma max at 37.23 vs 36.28 (+2.6%)
In today's screens
Neighbours by open interest
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Share the dated 1600×840 image or cite this canonical page. The card contains public derived aggregates, not contract-level quotes.
Canonical source: https://halfonadouble.com/stock/VSH
Questions people ask about VSH
Where is VSH's gamma max today?
As of Oct 2, 2026, the gamma max for VSH is 39.83, +4.3% from the 38.18 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 VSH above or below its delta neutral price?
VSH closed above delta neutral: 38.18 against a delta neutral price of 37.74. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does VSH have?
105,956 contracts of open interest across 171 listed contracts on Oct 2, 2026, +0.4% 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.