WRBY max pain, gamma exposure (GEX) & options open interest
As of close · rank #631 by open interest · 1,159 sessions of history since Nov 3, 2021
WRBY's nearest-expiration max pain is 27.00 for 2026-10-09, its GEX flip is 8.18, net GEX is 6,654,101, its put/call open-interest ratio is 0.16. 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: smile convexity 15.1 pp · 7d expected move +9.8%
WRBY closed 2.0% below its gamma max of 27.57. It is 34.6% above the delta neutral price of 17.68. That is a fresh cross: the previous close was on the other side of gamma max. Total open interest is 101,836, -4.5% versus the previous session. Its options catalyst-intensity score is 56.5 out of 100, led by smile convexity 15.1 pp, 7d expected move +9.8%. 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 | -2,609 contracts · -2.9% |
| Put OI change, 1 session | -2,159 contracts · -13.3% |
| Call minus put OI growth, 1 session | +10.4 pp |
| Call OI change, 5 sessions | +15,118 contracts · +20.8% |
| Put OI change, 5 sessions | +2,119 contracts · +17.7% |
| Call minus put OI growth, 5 sessions | +3.1 pp |
| Daily call OI change surprise | -0.72σ (252 prior changes) |
| Daily put OI change surprise | -0.56σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.61σ (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 20 completed Day +10 paths · latest Oct 2, 2026 fresh cross
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 20 | -0.8% | -1.5% to +0.5% | 35% | -1.4% to +0.5% | 0.0% |
| Day +2 | 20 | -0.8% | -2.8% to +2.2% | 35% | -2.8% to +1.3% | 0.0% |
| Day +3 | 20 | -0.4% | -3.8% to +3.7% | 45% | -3.6% to +3.7% | 0.0% |
| Day +4 | 20 | -0.0% | -5.2% to +8.6% | 50% | -5.2% to +8.4% | 0.0% |
| Day +5 | 20 | -0.2% | -3.2% to +8.4% | 45% | -3.0% to +7.9% | 0.0% |
| Day +6 | 20 | -0.6% | -4.4% to +5.7% | 45% | -3.9% to +5.6% | 0.0% |
| Day +7 | 20 | -1.4% | -6.8% to +7.3% | 45% | -6.8% to +7.2% | 0.0% |
| Day +8 | 20 | +0.9% | -6.4% to +5.3% | 55% | -5.7% to +4.7% | 0.0% |
| Day +9 | 20 | +1.2% | -11.4% to +8.7% | 55% | -11.4% to +8.6% | 0.0% |
| Day +10 | 20 | +1.2% | -7.8% to +7.6% | 55% | -7.3% to +7.4% | 0.0% |
Crosses above gamma max 15 completed Day +10 paths · latest Sep 29, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 16 | +0.9% | -0.1% to +3.7% | 69% | 0.0% to +3.6% | 0.0% |
| Day +2 | 16 | +1.3% | -0.5% to +3.8% | 69% | -0.5% to +3.7% | 0.0% |
| Day +3 | 16 | +3.0% | -0.1% to +4.6% | 75% | +0.2% to +4.6% | +0.2% |
| Day +4 | 15 | +3.9% | -1.4% to +4.8% | 67% | -1.6% to +5.0% | 0.0% |
| Day +5 | 15 | +0.0% | -4.2% to +6.6% | 53% | -7.5% to +7.7% | 0.0% |
| Day +6 | 15 | -1.0% | -4.4% to +7.0% | 47% | -4.6% to +7.2% | 0.0% |
| Day +7 | 15 | +0.2% | -6.2% to +5.4% | 53% | -6.3% to +6.3% | 0.0% |
| Day +8 | 15 | +0.2% | -5.6% to +4.8% | 53% | -6.1% to +5.8% | 0.0% |
| Day +9 | 15 | +1.6% | -1.9% to +6.2% | 60% | -3.0% to +6.4% | 0.0% |
| Day +10 | 15 | -1.0% | -4.7% to +11.1% | 47% | -6.3% to +13.7% | 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 | 8% |
| Gamma max crosses | 14 |
| Delta neutral crosses | 1 |
| Prior-year sessions closer to gamma max | 2.8% of 252 |
| Prior-year sessions closer to delta neutral | 90.9% of 252 |
| Open interest percentile (1y) | 80th |
| Daily open interest change versus prior year | -0.70σ (-4,768 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +20.4% |
| Open interest change, 21 sessions | +10.2% |
| History available | Nov 3, 2021 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 27.03 vs 27.57 (-2.0%)
- closed above gamma max at 27.47 vs 27.42 (+0.2%)
- closed below gamma max at 26.96 vs 27.48 (-1.9%)
- closed above gamma max at 26.69 vs 25.42 (+4.7%)
- closed below gamma max at 28.01 vs 28.80 (-2.8%)
- closed above gamma max at 29.25 vs 28.30 (+3.3%)
- closed below gamma max at 25.76 vs 26.71 (-3.7%)
- closed above gamma max at 26.06 vs 22.45 (+13.8%)
- closed below gamma max at 29.55 vs 31.76 (-7.5%)
- closed above gamma max at 27.20 vs 27.09 (+0.4%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/WRBY
Questions people ask about WRBY
Where is WRBY's gamma max today?
As of Oct 2, 2026, the gamma max for WRBY is 27.57, +2.0% from the 27.03 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 WRBY above or below its delta neutral price?
WRBY closed above delta neutral: 27.03 against a delta neutral price of 17.68. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does WRBY have?
101,836 contracts of open interest across 205 listed contracts on Oct 2, 2026, -4.5% 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.