XYZ max pain, gamma exposure (GEX) & options open interest
As of close · rank #234 by open interest · 428 sessions of history since Jan 22, 2025
XYZ's nearest-expiration max pain is 75.00 for 2026-10-09, its GEX flip is 68.35, net GEX is 6,141,774, its put/call open-interest ratio is 0.65. 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 · smile convexity 11.5 pp
XYZ closed 15.9% below its gamma max of 86.14. It is 5.1% above the delta neutral price of 70.55. Total open interest is 435,644, -3.4% versus the previous session. Its options catalyst-intensity score is 42.9 out of 100, led by IV rank 100, smile convexity 11.5 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 | -9,518 contracts · -3.5% |
| Put OI change, 1 session | -6,015 contracts · -3.4% |
| Call minus put OI growth, 1 session | -0.1 pp |
| Call OI change, 5 sessions | +7,567 contracts · +3.0% |
| Put OI change, 5 sessions | +13,205 contracts · +8.3% |
| Call minus put OI growth, 5 sessions | -5.4 pp |
| Daily call OI change surprise | -0.42σ (252 prior changes) |
| Daily put OI change surprise | -0.50σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.06σ (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 12 completed Day +10 paths · latest Aug 28, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 12 | +0.5% | -0.9% to +0.7% | 58% | -1.2% to +1.0% | 0.0% |
| Day +2 | 12 | -1.5% | -2.6% to +0.3% | 33% | -2.7% to +0.6% | 0.0% |
| Day +3 | 12 | -1.1% | -3.0% to -0.2% | 17% | -4.1% to -0.1% | -0.1% |
| Day +4 | 12 | -0.7% | -5.5% to +0.6% | 33% | -6.4% to +1.6% | 0.0% |
| Day +5 | 12 | -2.3% | -6.5% to -0.5% | 25% | -7.5% to +1.0% | 0.0% |
| Day +6 | 12 | -4.4% | -6.1% to -3.0% | 17% | -6.6% to -2.1% | -2.1% |
| Day +7 | 12 | -3.2% | -9.2% to -0.2% | 25% | -9.8% to +0.3% | 0.0% |
| Day +8 | 12 | -4.6% | -8.7% to +0.5% | 33% | -8.8% to +1.0% | 0.0% |
| Day +9 | 12 | -3.9% | -7.2% to +0.2% | 33% | -7.3% to +0.8% | 0.0% |
| Day +10 | 12 | -4.8% | -5.6% to -0.3% | 25% | -7.5% to +0.3% | 0.0% |
Crosses above gamma max 13 completed Day +10 paths · latest Aug 27, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 13 | -0.4% | -1.6% to +1.9% | 46% | -1.6% to +1.9% | 0.0% |
| Day +2 | 13 | -0.6% | -2.3% to +2.3% | 46% | -2.3% to +2.3% | 0.0% |
| Day +3 | 13 | -0.0% | -2.6% to +2.5% | 46% | -2.6% to +2.5% | 0.0% |
| Day +4 | 13 | -1.2% | -4.1% to +1.9% | 46% | -4.1% to +1.9% | 0.0% |
| Day +5 | 13 | -1.7% | -4.6% to +2.6% | 46% | -4.6% to +2.6% | 0.0% |
| Day +6 | 13 | -2.6% | -8.2% to +0.1% | 31% | -8.2% to +0.1% | 0.0% |
| Day +7 | 13 | -4.9% | -6.0% to -0.7% | 15% | -6.0% to -0.7% | -0.7% |
| Day +8 | 13 | -4.9% | -8.1% to -1.0% | 15% | -8.1% to -1.0% | -1.0% |
| Day +9 | 13 | -5.2% | -9.9% to -1.5% | 23% | -9.9% to -1.5% | -1.5% |
| Day +10 | 13 | -4.8% | -8.5% to +0.5% | 31% | -8.5% to +0.5% | 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 | 6% |
| Gamma max crosses | 20 |
| Delta neutral crosses | 14 |
| Prior-year sessions closer to gamma max | 86.5% of 252 |
| Prior-year sessions closer to delta neutral | 37.3% of 252 |
| Open interest percentile (1y) | 37th |
| Daily open interest change versus prior year | -0.47σ (-15,533 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +5.0% |
| Open interest change, 21 sessions | -6.4% |
| History available | Jan 22, 2025 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 83.57 vs 88.73 (-6.2%)
- closed above gamma max at 84.85 vs 84.80 (+0.1%)
- closed below gamma max at 81.24 vs 90.21 (-11.0%)
- closed above gamma max at 82.59 vs 81.85 (+0.9%)
- closed below gamma max at 82.18 vs 82.43 (-0.3%)
- closed above gamma max at 83.10 vs 82.86 (+0.3%)
- closed below gamma max at 81.52 vs 81.68 (-0.2%)
- closed above gamma max at 81.81 vs 81.44 (+0.5%)
- closed below gamma max at 75.72 vs 78.21 (-3.3%)
- closed above gamma max at 74.32 vs 74.15 (+0.2%)
In today's screens
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Neighbours by open interest
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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/XYZ
Questions people ask about XYZ
Where is XYZ's gamma max today?
As of Oct 2, 2026, the gamma max for XYZ is 86.14, +15.9% from the 74.35 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 XYZ above or below its delta neutral price?
XYZ closed above delta neutral: 74.35 against a delta neutral price of 70.55. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does XYZ have?
435,644 contracts of open interest across 647 listed contracts on Oct 2, 2026, -3.4% 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.