WDC max pain, gamma exposure (GEX) & options open interest
As of close · rank #248 by open interest · 1,393 sessions of history since Dec 1, 2020
WDC's nearest-expiration max pain is 457.50 for 2026-10-09, its GEX flip is 455.46, net GEX is -5,218,324, its put/call open-interest ratio is 1.56. 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 0.47 · IV rank 95 · 7d expected move +8.9%
WDC closed 35.1% below its gamma max of 561.16. It is 4.8% below the delta neutral price of 435.02. Total open interest is 401,801, -6.5% versus the previous session. Its options catalyst-intensity score is 51.5 out of 100, led by volume/OI 0.47, IV rank 95, 7d expected move +8.9%. 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 | -16,226 contracts · -9.4% |
| Put OI change, 1 session | -11,585 contracts · -4.5% |
| Call minus put OI growth, 1 session | -4.8 pp |
| Call OI change, 5 sessions | +751 contracts · +0.5% |
| Put OI change, 5 sessions | +4,457 contracts · +1.9% |
| Call minus put OI growth, 5 sessions | -1.4 pp |
| Daily call OI change surprise | -1.18σ (252 prior changes) |
| Daily put OI change surprise | -0.81σ (252 prior changes) |
| Daily call-minus-put growth surprise | -1.60σ (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 44 completed Day +10 paths · latest Jun 16, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 44 | +0.5% | -1.5% to +1.7% | 57% | -0.4% to +1.0% | 0.0% |
| Day +2 | 44 | +1.5% | -0.9% to +2.8% | 68% | +0.5% to +2.1% | +0.5% |
| Day +3 | 44 | +2.6% | -1.2% to +3.5% | 68% | +0.8% to +3.3% | +0.8% |
| Day +4 | 44 | +2.5% | -1.5% to +5.4% | 61% | -0.3% to +3.4% | 0.0% |
| Day +5 | 44 | +2.8% | -3.7% to +6.6% | 57% | -0.5% to +5.5% | 0.0% |
| Day +6 | 44 | +3.1% | -2.6% to +6.6% | 64% | +0.2% to +4.8% | +0.2% |
| Day +7 | 44 | +2.6% | -3.0% to +9.0% | 64% | +0.3% to +5.1% | +0.3% |
| Day +8 | 44 | +3.1% | -3.5% to +9.9% | 66% | +1.0% to +4.8% | +1.0% |
| Day +9 | 44 | +2.8% | -2.0% to +10.8% | 59% | -0.4% to +4.4% | 0.0% |
| Day +10 | 44 | +2.8% | -1.0% to +10.3% | 68% | +1.3% to +4.7% | +1.3% |
Crosses above gamma max 46 completed Day +10 paths · latest Jun 15, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 46 | +0.0% | -1.8% to +1.5% | 52% | -1.1% to +1.0% | 0.0% |
| Day +2 | 46 | -0.4% | -2.1% to +1.8% | 43% | -1.2% to +1.1% | 0.0% |
| Day +3 | 46 | +0.5% | -1.3% to +4.5% | 57% | -0.5% to +1.9% | 0.0% |
| Day +4 | 46 | +1.5% | -2.9% to +4.8% | 61% | -1.0% to +3.2% | 0.0% |
| Day +5 | 46 | +1.9% | -3.4% to +6.3% | 57% | -1.4% to +3.4% | 0.0% |
| Day +6 | 46 | +0.9% | -3.9% to +6.8% | 52% | -2.1% to +5.0% | 0.0% |
| Day +7 | 46 | +1.9% | -3.5% to +8.2% | 57% | -2.1% to +5.5% | 0.0% |
| Day +8 | 46 | +2.0% | -4.0% to +10.5% | 52% | -2.4% to +6.7% | 0.0% |
| Day +9 | 46 | +1.7% | -5.0% to +9.4% | 52% | -2.0% to +6.2% | 0.0% |
| Day +10 | 46 | +0.9% | -4.2% to +10.3% | 52% | -2.0% to +6.4% | 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 | 3% |
| Gamma max crosses | 15 |
| Delta neutral crosses | 21 |
| Prior-year sessions closer to gamma max | 93.7% of 252 |
| Prior-year sessions closer to delta neutral | 27.8% of 252 |
| Open interest percentile (1y) | 54th |
| Daily open interest change versus prior year | -1.01σ (-27,811 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +1.3% |
| Open interest change, 21 sessions | -9.6% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 415.29 vs 435.02 (-4.8%)
- closed above delta neutral at 441.36 vs 437.26 (+0.9%)
- closed below delta neutral at 447.18 vs 449.25 (-0.5%)
- closed above delta neutral at 467.46 vs 450.71 (+3.6%)
- closed below delta neutral at 450.55 vs 462.15 (-2.6%)
- closed above delta neutral at 468.88 vs 461.09 (+1.7%)
- closed below delta neutral at 462.09 vs 475.97 (-3.0%)
- closed above delta neutral at 487.29 vs 465.36 (+4.5%)
- closed below delta neutral at 451.52 vs 485.76 (-7.6%)
- closed above delta neutral at 533.04 vs 500.90 (+6.0%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/WDC
Questions people ask about WDC
Where is WDC's gamma max today?
As of Oct 2, 2026, the gamma max for WDC is 561.16, +35.1% from the 415.29 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 WDC above or below its delta neutral price?
WDC closed below delta neutral: 415.29 against a delta neutral price of 435.02. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does WDC have?
401,801 contracts of open interest across 2,294 listed contracts on Oct 2, 2026, -6.5% 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.