# ZS: options-positioning snapshot

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

| Published field | Value |
| --- | --- |
| Close (USD/share) | 196.60 |
| Delta neutral (USD/share) | 179.90 |
| Gamma neutral (USD/share) | 179.92 |
| Gamma max (USD/share) | 220.34 |
| Open interest (contracts) | 206,318 |
| Nearest-expiration max pain (USD/share) | 200.00 (2026-10-09) |
| All-expiration max pain (USD/share) | 180.00 |
| Net gamma exposure | 4,442,426 |
| Confirmed GEX flip (USD/share) | 179.92 |
| Call wall (USD/share) | 200.00 |
| Put wall (USD/share) | 200.00 |
| Put/call open-interest ratio | 0.82 |
| Options catalyst-intensity score (0–100) | 61.1 |
| Options directional score (-100 to +100) | -6.8 |
| IV rank | 38.7 |
| Front ATM IV | +64.2% |
| Front-minus-back IV | 8.4 pp |
| Front expected move | +8.9% |
| Front ATM straddle / spot | +6.4% |
| Front 25-delta risk reversal | -0.6 pp |
| Call OI change, 1 session | -8,467 contracts · -7.0% |
| Put OI change, 1 session | -5,359 contracts · -5.4% |
| Call minus put OI growth, 1 session | -1.5 pp |
| Call OI change, 5 sessions | +3,935 contracts · +3.6% |
| Put OI change, 5 sessions | +5,353 contracts · +6.1% |
| Call minus put OI growth, 5 sessions | -2.5 pp |
| Daily call OI change surprise | -1.06σ (252 prior changes) |
| Daily put OI change surprise | -1.04σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.51σ (252 prior changes) |
| Daily open interest change (contracts) | -13,826 |
| Daily open interest change z-score (prior 252) | -1.08σ (252 prior changes) |
| Gamma max distance from close | +12.1% |
| Delta neutral distance from close | -8.5% |
| Prior-year sessions closer to gamma max | 42.1% of 252 |
| Prior-year sessions closer to delta neutral | 61.1% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 20 | +1.0% | -1.5% to +1.4% | 70% | -1.4% to +1.4% | 0.0% |
| above | Day +3 | 20 | +0.3% | -1.5% to +2.0% | 55% | -1.4% to +2.0% | 0.0% |
| above | Day +5 | 20 | +2.3% | -1.0% to +3.6% | 70% | -0.9% to +3.1% | 0.0% |
| above | Day +10 | 20 | +0.0% | -5.5% to +5.5% | 50% | -5.3% to +5.1% | 0.0% |
| below | Day +1 | 19 | +0.5% | -1.4% to +1.9% | 53% | -1.0% to +1.8% | 0.0% |
| below | Day +3 | 19 | +1.0% | -1.5% to +4.1% | 58% | -1.0% to +4.0% | 0.0% |
| below | Day +5 | 19 | +0.3% | -3.8% to +4.6% | 53% | -3.5% to +4.3% | 0.0% |
| below | Day +10 | 19 | -0.1% | -5.7% to +6.0% | 47% | -4.7% to +5.3% | 0.0% |

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