# XLF: options-positioning snapshot

Canonical: https://halfonadouble.com/stock/XLF
Data through: 2026-10-02 close
Publisher: Half on a Double

| Published field | Value |
| --- | --- |
| Close (USD/share) | 53.49 |
| Delta neutral (USD/share) | 55.19 |
| Gamma neutral (USD/share) | 57.26 |
| Gamma max (USD/share) | 61.31 |
| Open interest (contracts) | 5,563,776 |
| Nearest-expiration max pain (USD/share) | 54.00 (2026-10-05) |
| All-expiration max pain (USD/share) | 55.00 |
| Net gamma exposure | -572,185,060 |
| Confirmed GEX flip (USD/share) | 57.26 |
| Call wall (USD/share) | 55.00 |
| Put wall (USD/share) | 54.00 |
| Put/call open-interest ratio | 1.49 |
| Options catalyst-intensity score (0–100) | 59.1 |
| Options directional score (-100 to +100) | -32.3 |
| IV rank | 34.5 |
| Front ATM IV | +30.3% |
| Front-minus-back IV | 12.0 pp |
| Front expected move | +2.8% |
| Front ATM straddle / spot | +1.2% |
| Front 25-delta risk reversal | 2.6 pp |
| Call OI change, 1 session | -20,986 contracts · -0.9% |
| Put OI change, 1 session | +30,040 contracts · +0.9% |
| Call minus put OI growth, 1 session | -1.8 pp |
| Call OI change, 5 sessions | +71,864 contracts · +3.3% |
| Put OI change, 5 sessions | +213,458 contracts · +6.8% |
| Call minus put OI growth, 5 sessions | -3.5 pp |
| Daily call OI change surprise | -0.21σ (252 prior changes) |
| Daily put OI change surprise | +0.17σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.85σ (252 prior changes) |
| Daily open interest change (contracts) | 9,054 |
| Daily open interest change z-score (prior 252) | +0.02σ (252 prior changes) |
| Gamma max distance from close | +14.6% |
| Delta neutral distance from close | +3.2% |
| Prior-year sessions closer to gamma max | 92.5% of 252 |
| Prior-year sessions closer to delta neutral | 63.5% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 10 | +0.2% | -0.2% to +0.5% | 60% | -0.4% to +0.7% | 0.0% |
| above | Day +3 | 10 | +0.5% | -0.7% to +0.9% | 60% | -1.1% to +1.3% | 0.0% |
| above | Day +5 | 10 | +0.6% | -0.7% to +1.7% | 50% | -0.8% to +2.6% | 0.0% |
| above | Day +10 | 10 | +0.0% | -0.7% to +1.6% | 50% | -1.9% to +2.4% | 0.0% |
| below | Day +1 | 10 | +0.4% | -0.2% to +0.9% | 60% | -0.6% to +1.0% | 0.0% |
| below | Day +3 | 10 | +1.1% | -0.2% to +1.5% | 70% | -1.1% to +2.0% | 0.0% |
| below | Day +5 | 10 | +0.6% | -0.2% to +2.7% | 70% | -1.9% to +4.1% | 0.0% |
| below | Day +10 | 10 | -0.3% | -1.0% to +2.5% | 40% | -2.2% to +3.8% | 0.0% |

Returns are close-to-close after the labelled number of subsequent trading sessions. Cohorts require gamma max to be within 10% of the close on both crossing sessions. Historical windows can overlap and are not independent observations, so interval coverage is not guaranteed.

- [Machine-readable snapshot](https://halfonadouble.com/api/v1/tickers/XLF.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/XLF.csv)
- [Complete advanced analysis](https://halfonadouble.com/api/v1/analysis/XLF.json?date=2026-10-02)

An em dash means unavailable, not zero. Values use the same display rounding as the HTML page. This is a current snapshot; full history and individual event paths are on the canonical page.

[Definitions and limitations](https://halfonadouble.com/methodology.md).