VST max pain, gamma exposure (GEX) & options open interest
As of close · rank #209 by open interest · 1,394 sessions of history since Dec 1, 2020
VST's nearest-expiration max pain is 140.00 for 2026-10-09, its GEX flip is 143.22, net GEX is -5,503,138, its put/call open-interest ratio is 1.17. 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 0.19 · IV rank 100 · front IV premium -0.2 pp
VST closed 17.5% below its gamma max of 164.54. It is 4.0% below the delta neutral price of 145.69. Total open interest is 480,893, -5.7% versus the previous session. Its options catalyst-intensity score is 60.6 out of 100, led by volume/OI 0.19, IV rank 100, front IV premium -0.2 pp. 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 | -13,878 contracts · -5.9% |
| Put OI change, 1 session | -15,308 contracts · -5.6% |
| Call minus put OI growth, 1 session | -0.3 pp |
| Call OI change, 5 sessions | +15,857 contracts · +7.7% |
| Put OI change, 5 sessions | +24,681 contracts · +10.5% |
| Call minus put OI growth, 5 sessions | -2.8 pp |
| Daily call OI change surprise | -0.95σ (252 prior changes) |
| Daily put OI change surprise | -1.30σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.12σ (252 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 51 completed Day +10 paths · latest Sep 12, 2025
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 51 | +0.1% | -0.7% to +1.6% | 53% | -0.2% to +0.9% | 0.0% |
| Day +2 | 51 | +0.6% | -0.9% to +1.9% | 65% | +0.2% to +1.0% | +0.2% |
| Day +3 | 51 | +0.4% | -1.1% to +2.6% | 53% | -0.4% to +1.0% | 0.0% |
| Day +4 | 51 | +0.2% | -1.2% to +2.8% | 55% | -0.7% to +1.6% | 0.0% |
| Day +5 | 51 | +0.8% | -1.3% to +3.0% | 63% | +0.1% to +1.4% | +0.1% |
| Day +6 | 51 | +1.0% | -2.0% to +3.7% | 61% | -0.1% to +2.4% | 0.0% |
| Day +7 | 51 | +1.6% | -1.3% to +4.5% | 63% | +0.2% to +2.7% | +0.2% |
| Day +8 | 51 | +1.2% | -1.4% to +5.7% | 59% | -0.0% to +3.8% | 0.0% |
| Day +9 | 51 | +1.6% | -2.1% to +5.8% | 59% | -0.2% to +3.3% | 0.0% |
| Day +10 | 51 | +0.8% | -2.8% to +5.6% | 55% | -0.7% to +3.6% | 0.0% |
Crosses above gamma max 50 completed Day +10 paths · latest Sep 10, 2025
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 50 | -0.1% | -1.8% to +1.3% | 46% | -1.1% to +0.4% | 0.0% |
| Day +2 | 50 | -0.1% | -1.2% to +1.4% | 46% | -0.7% to +0.6% | 0.0% |
| Day +3 | 50 | -0.3% | -1.6% to +2.1% | 44% | -1.1% to +0.7% | 0.0% |
| Day +4 | 50 | -0.1% | -2.2% to +2.9% | 48% | -1.2% to +1.4% | 0.0% |
| Day +5 | 50 | -0.4% | -2.4% to +2.6% | 46% | -1.2% to +1.0% | 0.0% |
| Day +6 | 50 | -0.3% | -3.2% to +4.1% | 46% | -1.2% to +1.7% | 0.0% |
| Day +7 | 50 | +0.0% | -2.8% to +4.0% | 50% | -1.0% to +2.3% | 0.0% |
| Day +8 | 50 | +1.3% | -3.1% to +4.3% | 54% | -1.6% to +2.1% | 0.0% |
| Day +9 | 50 | +1.2% | -2.7% to +4.1% | 54% | -1.4% to +2.7% | 0.0% |
| Day +10 | 50 | +1.0% | -3.4% to +4.2% | 56% | -1.1% to +2.8% | 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 | 0% |
| Gamma max crosses | 0 |
| Delta neutral crosses | 31 |
| Prior-year sessions closer to gamma max | 50.4% of 252 |
| Prior-year sessions closer to delta neutral | 42.5% of 252 |
| Open interest percentile (1y) | 83th |
| Daily open interest change versus prior year | -1.16σ (-29,186 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +9.2% |
| Open interest change, 21 sessions | -9.9% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 147.05 vs 147.93 (-0.6%)
- closed above delta neutral at 151.72 vs 148.63 (+2.0%)
- closed below delta neutral at 143.23 vs 153.01 (-6.8%)
- closed above delta neutral at 155.94 vs 154.07 (+1.2%)
- closed below delta neutral at 148.64 vs 155.12 (-4.4%)
- closed above delta neutral at 155.44 vs 154.42 (+0.7%)
- closed below delta neutral at 152.56 vs 154.46 (-1.2%)
- closed above delta neutral at 158.03 vs 153.44 (+2.9%)
- closed below delta neutral at 154.82 vs 155.53 (-0.5%)
- closed above delta neutral at 157.22 vs 157.05 (+0.1%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/VST
Questions people ask about VST
Where is VST's gamma max today?
As of Oct 2, 2026, the gamma max for VST is 164.54, +17.5% from the 140.02 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 VST above or below its delta neutral price?
VST closed below delta neutral: 140.02 against a delta neutral price of 145.69. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does VST have?
480,893 contracts of open interest across 923 listed contracts on Oct 2, 2026, -5.7% 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.