Data through close

ZBRA max pain, gamma exposure (GEX) & options open interest

As of close · rank #2227 by open interest · snapshot page

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ZBRA's nearest-expiration max pain is 360.00 for 2026-10-16, its GEX flip is 346.84, net GEX is 214,312, its put/call open-interest ratio is 1.39. These are whole-chain derived aggregates as of Oct 2, 2026 close.

Close
375.86
prev 375.45
Gamma max
399.48
+6.3% from close
Delta neutral
345.92
-8.0% from close
Gamma neutral
346.84
-7.7% from close
Open interest
8,257
+4.0% vs prev
Contracts listed
243
158 calls · 133 puts

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.

Nearest max pain
360.00
-4.2% from close
2026-10-16
GEX flip
346.84
-7.7% from close
Net GEX
214,312
2,595,522 per 100k OI
Call wall
430.00
+14.4% from close
Put wall
270.00
-28.2% from close
Put/call OI
1.39
4,809 puts / 3,448 calls

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.

Catalyst intensity
–
cross-sectional score / 100
Directional score
–
IV rank
55.6
within trailing 52-week range
Front / back ATM IV
+35.6% / +45.7%
-10.1 pp front premium
Expected move
+7.0%
14 DTE · one standard deviation
ATM straddle / spot
+6.6%
front-window midpoint premium
25Δ risk reversal
68.2 pp
put IV minus call IV
IV butterfly
16.7 pp
front-window smile convexity
Volume / open interest
0.01
76 contracts traded
Normalized net delta
0.127
option-holder convention
Modeled dealer delta
-0.127
opposite-side scenario
Vanna / 100k OI
3,088
volatility-sensitive delta
Charm / 100k OI
-1,132,615
time-decay-sensitive delta
IV surface range
85.1 pp
published contour maximum minus minimum

Download the complete dated analysis JSON .

ZBRA closed 6.3% below its gamma max of 399.48. It is 8.0% above the delta neutral price of 345.92. Total open interest is 8,257, +4.0% versus the previous session. What gamma max means · What delta neutral means

History

Full history since 2020: drag to pan, scroll to zoom, hover for values. Open full-screen chart

Analysis visualizations

Derived from the 2026-10-02 options chain. Select an analysis to explore its chart.

Gamma walls

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In today's screens

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Neighbours by open interest

← AZTA (#2226) NKTX (#2228) →

Questions people ask about ZBRA

Where is ZBRA's gamma max today?

As of Oct 2, 2026, the gamma max for ZBRA is 399.48, +6.3% from the 375.86 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 ZBRA above or below its delta neutral price?

ZBRA closed above delta neutral: 375.86 against a delta neutral price of 345.92. The delta neutral price is where the summed delta of the whole chain is zero; the definition.

How much open interest does ZBRA have?

8,257 contracts of open interest across 243 listed contracts on Oct 2, 2026, +4.0% 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.