XRT max pain, gamma exposure (GEX) & options open interest
As of close · rank #533 by open interest · 1,394 sessions of history since Dec 1, 2020
XRT's nearest-expiration max pain is 82.50 for 2026-10-09, its GEX flip is 124.04, net GEX is -13,878,962, its put/call open-interest ratio is 1.75. 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: IV rank 100 · front IV premium 4.8 pp · 25Δ risk reversal -35.8 pp
XRT closed 9.4% below its gamma max of 90.40. It is 5.2% below the delta neutral price of 86.95. Total open interest is 132,527, -8.1% versus the previous session. Its options catalyst-intensity score is 58.2 out of 100, led by IV rank 100, front IV premium 4.8 pp, 25Δ risk reversal -35.8 pp. 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 | -7,168 contracts · -12.9% |
| Put OI change, 1 session | -4,442 contracts · -5.0% |
| Call minus put OI growth, 1 session | -7.9 pp |
| Call OI change, 5 sessions | +13,295 contracts · +38.1% |
| Put OI change, 5 sessions | -4,930 contracts · -5.5% |
| Call minus put OI growth, 5 sessions | +43.6 pp |
| Daily call OI change surprise | -0.48σ (252 prior changes) |
| Daily put OI change surprise | -0.42σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.78σ (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 7 completed Day +10 paths · latest May 29, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 7 | -0.4% | -0.7% to -0.1% | 29% | -1.8% to +0.3% | 0.0% |
| Day +2 | 7 | -0.2% | -0.3% to +0.0% | 29% | -0.5% to +0.5% | 0.0% |
| Day +3 | 7 | -0.8% | -1.1% to -0.6% | 14% | -3.0% to +0.0% | 0.0% |
| Day +4 | 7 | -0.5% | -1.5% to -0.1% | 14% | -1.7% to +0.4% | 0.0% |
| Day +5 | 7 | -0.6% | -1.7% to -0.0% | 14% | -2.3% to +3.1% | 0.0% |
| Day +6 | 7 | -0.8% | -1.2% to -0.2% | 14% | -2.2% to +6.9% | 0.0% |
| Day +7 | 7 | -0.5% | -1.6% to +0.5% | 29% | -3.4% to +5.3% | 0.0% |
| Day +8 | 7 | -0.7% | -2.0% to +0.4% | 29% | -4.5% to +5.6% | 0.0% |
| Day +9 | 7 | -1.3% | -1.9% to +1.8% | 29% | -4.5% to +5.4% | 0.0% |
| Day +10 | 7 | -0.4% | -2.3% to +2.0% | 29% | -3.4% to +6.3% | 0.0% |
Crosses above gamma max 9 completed Day +10 paths · latest May 28, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 9 | -0.1% | -0.5% to +0.7% | 44% | -1.4% to +0.9% | 0.0% |
| Day +2 | 9 | -0.0% | -2.3% to +0.0% | 33% | -2.3% to +0.8% | 0.0% |
| Day +3 | 9 | -0.3% | -1.2% to +0.6% | 44% | -1.7% to +1.4% | 0.0% |
| Day +4 | 9 | -1.3% | -1.7% to -0.2% | 11% | -2.2% to -0.1% | -0.1% |
| Day +5 | 9 | -0.8% | -2.2% to +0.1% | 33% | -2.5% to +1.2% | 0.0% |
| Day +6 | 9 | -0.9% | -1.8% to -0.1% | 22% | -2.3% to +0.6% | 0.0% |
| Day +7 | 9 | -0.5% | -1.1% to +1.2% | 33% | -2.2% to +1.8% | 0.0% |
| Day +8 | 9 | +0.2% | -0.9% to +1.2% | 56% | -0.9% to +5.5% | 0.0% |
| Day +9 | 9 | -0.3% | -1.5% to +0.6% | 33% | -1.8% to +3.9% | 0.0% |
| Day +10 | 9 | -0.8% | -1.2% to +2.4% | 44% | -2.3% to +4.2% | 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 | 4% |
| Gamma max crosses | 10 |
| Delta neutral crosses | 24 |
| Prior-year sessions closer to gamma max | 47.6% of 252 |
| Prior-year sessions closer to delta neutral | 79.8% of 252 |
| Open interest percentile (1y) | 40th |
| Daily open interest change versus prior year | -0.51σ (-11,610 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +6.7% |
| Open interest change, 21 sessions | -10.7% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 91.42 vs 91.67 (-0.3%)
- closed above delta neutral at 91.46 vs 90.71 (+0.8%)
- closed below delta neutral at 91.40 vs 91.78 (-0.4%)
- closed above delta neutral at 91.52 vs 91.50 (+0.0%)
- closed below delta neutral at 88.94 vs 91.30 (-2.7%)
- closed above delta neutral at 86.92 vs 86.74 (+0.2%)
- closed below delta neutral at 86.00 vs 86.86 (-1.0%)
- closed above delta neutral at 88.17 vs 87.28 (+1.0%)
- closed below delta neutral at 86.43 vs 87.58 (-1.3%)
- closed below gamma max at 83.99 vs 86.73 (-3.3%)
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/XRT
Questions people ask about XRT
Where is XRT's gamma max today?
As of Oct 2, 2026, the gamma max for XRT is 90.40, +9.4% from the 82.63 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 XRT above or below its delta neutral price?
XRT closed below delta neutral: 82.63 against a delta neutral price of 86.95. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does XRT have?
132,527 contracts of open interest across 467 listed contracts on Oct 2, 2026, -8.1% 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.