# XLV: options-positioning snapshot

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

| Published field | Value |
| --- | --- |
| Close (USD/share) | 166.18 |
| Delta neutral (USD/share) | 158.82 |
| Gamma neutral (USD/share) | 168.04 |
| Gamma max (USD/share) | 179.78 |
| Open interest (contracts) | 602,785 |
| Nearest-expiration max pain (USD/share) | 167.00 (2026-10-09) |
| All-expiration max pain (USD/share) | 158.00 |
| Net gamma exposure | -9,512,976 |
| Confirmed GEX flip (USD/share) | 168.04 |
| Call wall (USD/share) | 175.00 |
| Put wall (USD/share) | 160.00 |
| Put/call open-interest ratio | 1.66 |
| Options catalyst-intensity score (0–100) | 49.0 |
| Options directional score (-100 to +100) | -8.9 |
| IV rank | 80.9 |
| Front ATM IV | +21.7% |
| Front-minus-back IV | 4.2 pp |
| Front expected move | +3.0% |
| Front ATM straddle / spot | +2.2% |
| Front 25-delta risk reversal | -7.9 pp |
| Call OI change, 1 session | -2,648 contracts · -1.2% |
| Put OI change, 1 session | -7,171 contracts · -1.9% |
| Call minus put OI growth, 1 session | +0.7 pp |
| Call OI change, 5 sessions | +4,785 contracts · +2.2% |
| Put OI change, 5 sessions | +9,837 contracts · +2.7% |
| Call minus put OI growth, 5 sessions | -0.5 pp |
| Daily call OI change surprise | -0.21σ (252 prior changes) |
| Daily put OI change surprise | -0.50σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.11σ (252 prior changes) |
| Daily open interest change (contracts) | -9,819 |
| Daily open interest change z-score (prior 252) | -0.38σ (252 prior changes) |
| Gamma max distance from close | +8.2% |
| Delta neutral distance from close | -4.4% |
| Prior-year sessions closer to gamma max | 91.3% of 252 |
| Prior-year sessions closer to delta neutral | 53.2% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 22 | +0.0% | -0.3% to +0.4% | 50% | -0.3% to +0.4% | 0.0% |
| above | Day +3 | 22 | -0.1% | -0.9% to +0.2% | 41% | -0.7% to +0.2% | 0.0% |
| above | Day +5 | 22 | +0.5% | -0.2% to +1.3% | 59% | -0.2% to +1.1% | 0.0% |
| above | Day +10 | 22 | +1.1% | +0.7% to +2.0% | 91% | +0.7% to +2.0% | +0.7% |
| below | Day +1 | 22 | -0.2% | -1.0% to +0.5% | 45% | -1.0% to +0.5% | 0.0% |
| below | Day +3 | 22 | +0.5% | -0.9% to +1.1% | 64% | -0.3% to +1.0% | 0.0% |
| below | Day +5 | 22 | +1.1% | -0.3% to +2.1% | 68% | -0.2% to +2.0% | 0.0% |
| below | Day +10 | 22 | +1.0% | +0.4% to +2.5% | 77% | +0.4% to +1.9% | +0.4% |

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/XLV.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/XLV.csv)
- [Complete advanced analysis](https://halfonadouble.com/api/v1/analysis/XLV.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).