# ZTS: options-positioning snapshot

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

| Published field | Value |
| --- | --- |
| Close (USD/share) | 69.69 |
| Delta neutral (USD/share) | 64.11 |
| Gamma neutral (USD/share) | 26.30 |
| Gamma max (USD/share) | 81.72 |
| Open interest (contracts) | 162,131 |
| Nearest-expiration max pain (USD/share) | 75.00 (2026-10-16) |
| All-expiration max pain (USD/share) | 75.00 |
| Net gamma exposure | 601,367 |
| Confirmed GEX flip (USD/share) | 26.30 |
| Call wall (USD/share) | 75.00 |
| Put wall (USD/share) | 70.00 |
| Put/call open-interest ratio | 0.48 |
| Options catalyst-intensity score (0–100) | 51.1 |
| Options directional score (-100 to +100) | 27.7 |
| IV rank | 22.4 |
| Front ATM IV | +33.8% |
| Front-minus-back IV | -6.7 pp |
| Front expected move | +6.6% |
| Front ATM straddle / spot | +5.1% |
| Front 25-delta risk reversal | -74.3 pp |
| Call OI change, 1 session | +1,088 contracts · +1.0% |
| Put OI change, 1 session | +3,291 contracts · +6.7% |
| Call minus put OI growth, 1 session | -5.7 pp |
| Call OI change, 5 sessions | +2,032 contracts · +1.9% |
| Put OI change, 5 sessions | +4,107 contracts · +8.5% |
| Call minus put OI growth, 5 sessions | -6.6 pp |
| Daily call OI change surprise | +0.21σ (252 prior changes) |
| Daily put OI change surprise | +1.17σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.65σ (252 prior changes) |
| Daily open interest change (contracts) | 4,379 |
| Daily open interest change z-score (prior 252) | +0.68σ (252 prior changes) |
| Gamma max distance from close | +17.3% |
| Delta neutral distance from close | -8.0% |
| Prior-year sessions closer to gamma max | 76.6% of 252 |
| Prior-year sessions closer to delta neutral | 59.1% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 14 | +0.8% | +0.2% to +1.6% | 79% | +0.1% to +1.6% | +0.1% |
| above | Day +3 | 14 | +1.0% | +0.1% to +1.8% | 79% | +0.0% to +1.9% | +0.0% |
| above | Day +5 | 14 | +0.9% | +0.0% to +2.6% | 71% | -0.1% to +2.7% | 0.0% |
| above | Day +10 | 14 | +1.4% | -0.7% to +5.2% | 64% | -0.8% to +5.4% | 0.0% |
| below | Day +1 | 13 | +0.2% | -0.3% to +0.5% | 62% | -0.3% to +0.5% | 0.0% |
| below | Day +3 | 13 | +1.0% | -0.8% to +1.5% | 54% | -0.8% to +1.5% | 0.0% |
| below | Day +5 | 13 | +0.4% | -0.7% to +1.7% | 54% | -0.7% to +1.7% | 0.0% |
| below | Day +10 | 13 | -0.1% | -0.6% to +1.3% | 46% | -0.6% to +1.3% | 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/ZTS.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/ZTS.csv)
- [Complete advanced analysis](https://halfonadouble.com/api/v1/analysis/ZTS.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).