ZIM max pain, gamma exposure (GEX) & options open interest
As of close · rank #361 by open interest · 1,300 sessions of history since Apr 19, 2021
ZIM's nearest-expiration max pain is 29.50 for 2026-10-09, its GEX flip is 25.56, net GEX is 5,830,433, 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: smile convexity -66.9 pp · front IV premium 8.9 pp · 25Δ risk reversal 119.3 pp
ZIM closed 4.5% below its gamma max of 30.96. It is 5.2% above the delta neutral price of 28.08. Total open interest is 235,067, -2.4% versus the previous session. Its options catalyst-intensity score is 80.2 out of 100, led by smile convexity -66.9 pp, front IV premium 8.9 pp, 25Δ risk reversal 119.3 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 | -3,331 contracts · -2.3% |
| Put OI change, 1 session | -2,534 contracts · -2.7% |
| Call minus put OI growth, 1 session | +0.4 pp |
| Call OI change, 5 sessions | +2,891 contracts · +2.1% |
| Put OI change, 5 sessions | +756 contracts · +0.8% |
| Call minus put OI growth, 5 sessions | +1.2 pp |
| Daily call OI change surprise | -0.29σ (252 prior changes) |
| Daily put OI change surprise | -0.20σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.13σ (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 25 completed Day +10 paths · latest Aug 6, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 25 | +0.5% | -3.2% to +2.0% | 52% | -2.9% to +1.8% | 0.0% |
| Day +2 | 25 | -0.5% | -3.8% to +2.8% | 40% | -2.1% to +2.8% | 0.0% |
| Day +3 | 25 | -1.3% | -6.4% to +4.0% | 48% | -5.7% to +3.9% | 0.0% |
| Day +4 | 25 | -0.2% | -5.0% to +4.8% | 48% | -4.2% to +4.5% | 0.0% |
| Day +5 | 25 | -0.4% | -4.6% to +3.3% | 48% | -3.4% to +2.8% | 0.0% |
| Day +6 | 25 | -0.6% | -4.4% to +6.7% | 48% | -3.7% to +6.1% | 0.0% |
| Day +7 | 25 | +3.2% | -4.8% to +10.0% | 52% | -4.6% to +9.2% | 0.0% |
| Day +8 | 25 | +2.0% | -6.0% to +11.3% | 56% | -4.5% to +8.5% | 0.0% |
| Day +9 | 25 | +2.5% | -4.8% to +12.2% | 56% | -3.9% to +11.6% | 0.0% |
| Day +10 | 25 | -0.3% | -6.6% to +11.1% | 48% | -6.3% to +9.2% | 0.0% |
Crosses above gamma max 24 completed Day +10 paths · latest May 14, 2025
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 24 | +2.2% | -1.2% to +4.5% | 71% | +0.4% to +4.3% | +0.4% |
| Day +2 | 24 | +0.7% | -3.5% to +7.0% | 58% | -2.4% to +6.5% | 0.0% |
| Day +3 | 24 | +3.2% | -4.1% to +8.0% | 58% | -3.6% to +6.7% | 0.0% |
| Day +4 | 24 | +3.2% | -4.9% to +5.5% | 67% | -4.1% to +4.9% | 0.0% |
| Day +5 | 24 | +4.8% | -2.9% to +6.6% | 63% | -1.0% to +6.5% | 0.0% |
| Day +6 | 24 | +2.0% | -0.1% to +7.7% | 67% | 0.0% to +6.6% | 0.0% |
| Day +7 | 24 | +4.8% | +0.3% to +9.9% | 75% | +1.0% to +9.5% | +1.0% |
| Day +8 | 24 | +3.5% | -4.1% to +10.0% | 63% | -3.8% to +9.7% | 0.0% |
| Day +9 | 24 | +3.7% | -3.5% to +13.7% | 58% | -2.3% to +13.1% | 0.0% |
| Day +10 | 24 | +4.0% | -2.4% to +12.1% | 58% | -1.9% to +8.8% | 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 | 1% |
| Gamma max crosses | 4 |
| Delta neutral crosses | 33 |
| Prior-year sessions closer to gamma max | 16.7% of 252 |
| Prior-year sessions closer to delta neutral | 59.9% of 252 |
| Open interest percentile (1y) | 43th |
| Daily open interest change versus prior year | -0.26σ (-5,865 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +1.6% |
| Open interest change, 21 sessions | -3.1% |
| History available | Apr 19, 2021 → Oct 2, 2026 |
Recent crosses
- closed above delta neutral at 26.82 vs 25.81 (+3.8%)
- closed below delta neutral at 24.53 vs 24.58 (-0.2%)
- closed below gamma max at 26.38 vs 26.55 (-0.6%)
- closed above gamma max at 27.29 vs 27.01 (+1.0%)
- closed above delta neutral at 26.07 vs 25.83 (+0.9%)
- closed below delta neutral at 25.19 vs 25.53 (-1.4%)
- closed above delta neutral at 24.90 vs 24.41 (+2.0%)
- closed below delta neutral at 24.92 vs 24.94 (-0.1%)
- closed above delta neutral at 24.31 vs 24.25 (+0.2%)
- closed below delta neutral at 23.97 vs 23.97 (-0.0%)
In today's screens
Neighbours by open interest
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Canonical source: https://halfonadouble.com/stock/ZIM
Questions people ask about ZIM
Where is ZIM's gamma max today?
As of Oct 2, 2026, the gamma max for ZIM is 30.96, +4.5% from the 29.63 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 ZIM above or below its delta neutral price?
ZIM closed above delta neutral: 29.63 against a delta neutral price of 28.08. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does ZIM have?
235,067 contracts of open interest across 370 listed contracts on Oct 2, 2026, -2.4% 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.