VZLA max pain, gamma exposure (GEX) & options open interest
As of close · rank #379 by open interest · 240 sessions of history since Sep 30, 2025
VZLA's nearest-expiration max pain is 3.00 for 2026-10-16, its GEX flip is 2.71, net GEX is 9,593,552, its put/call open-interest ratio is 0.25. 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.
VZLA closed 7.8% below its gamma max of 3.89. It is 17.9% above the delta neutral price of 2.96. Total open interest is 222,285, -0.7% versus the previous session. Its options catalyst-intensity score is 20.1 out of 100. 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 | -1,728 contracts · -1.0% |
| Put OI change, 1 session | +147 contracts · +0.3% |
| Call minus put OI growth, 1 session | -1.3 pp |
| Call OI change, 5 sessions | +770 contracts · +0.4% |
| Put OI change, 5 sessions | +473 contracts · +1.1% |
| Call minus put OI growth, 5 sessions | -0.7 pp |
| Daily call OI change surprise | -0.23σ (234 prior changes) |
| Daily put OI change surprise | +0.00σ (234 prior changes) |
| Daily call-minus-put growth surprise | -0.19σ (221 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 3 completed Day +10 paths · latest Sep 28, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 4 | -0.3% | -2.3% to +0.1% | 25% | – | – |
| Day +2 | 4 | -0.4% | -3.8% to +1.4% | 25% | – | – |
| Day +3 | 4 | -6.5% | -11.6% to -1.4% | 0% | – | – |
| Day +4 | 4 | -7.9% | -11.1% to -4.1% | 0% | – | – |
| Day +5 | 3 | -6.0% | -11.5% to -3.0% | 0% | – | – |
| Day +6 | 3 | -7.2% | -8.6% to -3.6% | 0% | – | – |
| Day +7 | 3 | -6.7% | -6.8% to +4.0% | 33% | – | – |
| Day +8 | 3 | -5.4% | -6.1% to +3.8% | 33% | – | – |
| Day +9 | 3 | -4.4% | -5.2% to +5.7% | 33% | – | – |
| Day +10 | 3 | +0.5% | -3.4% to +8.2% | 67% | – | – |
Crosses above gamma max 5 completed Day +10 paths · latest Sep 18, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 5 | 0.0% | -0.2% to 0.0% | 20% | -6.3% to +0.4% | 0.0% |
| Day +2 | 5 | 0.0% | 0.0% to +0.2% | 40% | -6.8% to +5.4% | 0.0% |
| Day +3 | 5 | -1.0% | -2.2% to 0.0% | 0% | -18.4% to 0.0% | 0.0% |
| Day +4 | 5 | -2.4% | -3.4% to 0.0% | 0% | -16.7% to 0.0% | 0.0% |
| Day +5 | 5 | -1.2% | -3.2% to 0.0% | 0% | -18.9% to 0.0% | 0.0% |
| Day +6 | 5 | -1.6% | -6.4% to 0.0% | 20% | -22.3% to +14.7% | 0.0% |
| Day +7 | 5 | 0.0% | -5.9% to +2.4% | 40% | -15.8% to +13.1% | 0.0% |
| Day +8 | 5 | +3.9% | -7.1% to +14.7% | 60% | -12.9% to +15.8% | 0.0% |
| Day +9 | 5 | +5.7% | -8.1% to +13.1% | 60% | -11.4% to +15.8% | 0.0% |
| Day +10 | 5 | +2.2% | -10.4% to +15.8% | 60% | -11.5% to +15.8% | 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 240 sessions
| Sessions closed above gamma max | 16% |
| Gamma max crosses | 24 |
| Delta neutral crosses | 0 |
| Prior-year sessions closer to gamma max | 31.4% of 223 |
| Prior-year sessions closer to delta neutral | 1.8% of 223 |
| Open interest percentile (1y) | 51th |
| Daily open interest change versus prior year | -0.22σ (-1,581 contracts; 238 prior changes) |
| Open interest change, 5 sessions | +0.6% |
| Open interest change, 21 sessions | -0.8% |
| History available | Sep 30, 2025 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 3.82 vs 3.93 (-2.8%)
- closed above gamma max at 4.08 vs 3.90 (+4.5%)
- closed below gamma max at 4.09 vs 4.56 (-11.4%)
- closed above gamma max at 4.08 vs 3.87 (+5.1%)
- closed below gamma max at 3.15 vs 3.58 (-13.8%)
- closed above gamma max at 3.07 vs 2.63 (+14.5%)
- closed below gamma max at 3.20 vs 3.90 (-22.0%)
- closed above gamma max at 3.02 vs 2.47 (+18.4%)
- closed below gamma max at 3.13 vs 3.70 (-18.3%)
- closed above gamma max at 3.11 vs 2.60 (+16.4%)
In today's screens
Neighbours by open interest
Cite or embed this snapshot
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/VZLA
Questions people ask about VZLA
Where is VZLA's gamma max today?
As of Oct 2, 2026, the gamma max for VZLA is 3.89, +7.8% from the 3.61 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 VZLA above or below its delta neutral price?
VZLA closed above delta neutral: 3.61 against a delta neutral price of 2.96. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does VZLA have?
222,285 contracts of open interest across 75 listed contracts on Oct 2, 2026, -0.7% 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.