{"schema_version":1,"publisher":"Half on a Double","data_through":"2026-10-16","frequency":"end-of-day","methodology":"market-implied-carry-v1","generation":"market-implied-carry-analytics-20260917T000000Z","canonical_url":"https://halfonadouble.com/stock/CVX","markdown_url":"https://halfonadouble.com/stock/CVX.md","history_url":"https://halfonadouble.com/api/v1/history/CVX.csv","advanced_analysis_url":"https://halfonadouble.com/api/v1/analysis/CVX.json?date=2026-10-16&public_schema=4","definitions_url":"https://halfonadouble.com/methodology.md","license_url":"https://halfonadouble.com/terms.md","disclaimer_url":"https://halfonadouble.com/disclaimer.md","symbol":"CVX","page_tier":"A","units":{"prices":"USD per share","open_interest":"option contracts","gamma_exposure":"modeled dollar-delta change per USD 1 underlying move","gamma_exposure_normalized":"modeled gamma exposure per 100,000 open option contracts","distances":"percent of close","forward_outcomes":"close-to-close percent return"},"snapshot":{"close":225,"previous_close":219.3800048828125,"delta_neutral":194.2440043185627,"gamma_neutral":192.2759620552436,"gamma_max":226.09585448231354,"total_open_interest":459244,"previous_open_interest":538178,"listed_contracts":615,"listed_calls":379,"listed_puts":369,"gamma_max_distance_pct":0.4870464365837961,"delta_neutral_distance_pct":-13.669331413972133,"gamma_neutral_distance_pct":-14.544016864336173,"open_interest_change_1d_pct":-14.666894596211662,"call_open_interest":268300,"put_open_interest":190944,"put_call_open_interest_ratio":0.7116809541557958,"nearest_expiration_max_pain":210,"nearest_expiration_max_pain_expiry":"2026-10-23","nearest_expiration_max_pain_distance_pct":-6.666666666666667,"all_expiration_max_pain":190,"net_gamma_exposure":55085133.40334719,"net_gamma_exposure_per_100k_open_interest":11994742.098611454,"gamma_exposure_flip":192.2759620552436,"gamma_exposure_flip_distance_pct":-14.544016864336173,"call_wall":230,"call_wall_distance_pct":2.2222222222222223,"put_wall":200,"put_wall_distance_pct":-11.11111111111111,"gamma_max_cross_direction":null,"delta_neutral_cross_direction":null,"open_interest_rank":215},"history_summary":{"first_date":"2020-12-01","last_date":"2026-10-16","session_count":1404,"trailing_window_sessions":252,"sessions_above_gamma_max_pct":3.571428571428571,"gamma_max_cross_count":10,"delta_neutral_cross_count":12,"gamma_max_prior_sessions_closer_pct":3.1746031746031744,"gamma_max_prior_comparison_sessions":252,"delta_neutral_prior_sessions_closer_pct":99.60317460317461,"delta_neutral_prior_comparison_sessions":252,"open_interest_percentile_1y":8.73015873015873,"open_interest_change_1d_contracts":-78934,"open_interest_change_z_252":-2.4412171679176584,"open_interest_change_z_comparison_sessions":252,"open_interest_change_5_sessions_pct":-8.06073176005189,"open_interest_change_21_sessions_pct":-19.512353284482202,"call_put_open_interest_changes":{"one_session":{"call_change_contracts":-48780,"put_change_contracts":-30154,"call_growth_pct":-15.38413018796518,"put_growth_pct":-13.638296140173138,"call_minus_put_growth_pp":-1.7458340477920427},"five_sessions":{"call_change_contracts":-26514,"put_change_contracts":-13750,"call_growth_pct":-8.993467067371292,"put_growth_pct":-6.7173439377802975,"call_minus_put_growth_pp":-2.276123129590994},"call_change_surprise":{"z_score":-2.34756646543435,"comparison_sessions":252},"put_change_surprise":{"z_score":-2.3694217015936045,"comparison_sessions":252},"call_minus_put_growth_surprise":{"z_score":-0.5222367607932561,"comparison_sessions":252}}},"advanced_options":{"data_through":"2026-10-16","analysis_coverage":1,"catalyst_score":61.93649269079088,"directional_score":2.6673553164658834,"catalyst_reasons":["volume/OI 0.12","IV rank 100"],"features":{"price":225,"totalOi":552662,"analysisCoverage":1,"avgIvPct":130.7,"ivRank":100,"iv52wHighPct":130.7,"iv52wLowPct":32.5,"frontDte":7,"termPremiumPp":1.396,"riskReversalFrontPp":0.89,"riskReversal30dPp":1.08,"butterflyFrontPp":6.96,"butterfly30dPp":0.25,"putCallOiRatio":0.677,"putCallOiFrontRatio":0.497,"putCallVolumeFrontRatio":0.208,"optionVolume":68583,"volumeOiRatio":0.124096,"netDeltaNormalized":0.271336,"dealerDeltaNormalized":-0.239887,"gexPer100kOi":296509462.8869,"vannaPer100kOi":1171.240288,"charmPer100kOi":-2833178.145051,"weekendDeltaShiftPer100kOi":-8499534.616094,"ivSurfaceRangePp":205.2,"gammaFlipDistancePct":-6.888889,"maxPainDistancePct":-13.333333,"peakCallDistancePct":0,"peakPutDistancePct":-2.222222},"complete_analysis_url":"https://halfonadouble.com/api/v1/analysis/CVX.json?date=2026-10-16&public_schema=4","interpretation":"Catalyst intensity ranks unusual option pricing and activity; it does not identify the event, predict direction or recommend a trade. Directional score summarizes relative positioning under documented model conventions."},"gamma_max_cross_outcomes":[{"direction":"above","event_count":18,"completed_path_count":18,"latest_cross_date":"2026-03-19","horizons":[{"sessions":1,"sample_size":18,"median_return_pct":-0.3674887979134789,"p25_return_pct":-1.4357507021144023,"p75_return_pct":0.3680439830112847,"above_zero_pct":44.44444444444444,"median_interval_low_pct":-1.174253843010098,"median_interval_high_pct":0.3256809453160203,"median_interval_nominal_coverage_pct":90.374755859375,"confidence_floor_pct":0},{"sessions":3,"sample_size":18,"median_return_pct":0.6698183146800374,"p25_return_pct":-1.3246823069442777,"p75_return_pct":2.3441642620003478,"above_zero_pct":61.111111111111114,"median_interval_low_pct":-1.2196249507423929,"median_interval_high_pct":2.1743144464055453,"median_interval_nominal_coverage_pct":90.374755859375,"confidence_floor_pct":0},{"sessions":5,"sample_size":18,"median_return_pct":0.6856586963437383,"p25_return_pct":-1.3744369770948117,"p75_return_pct":2.364846391259534,"above_zero_pct":61.111111111111114,"median_interval_low_pct":-1.3569143568406772,"median_interval_high_pct":2.3486216133887794,"median_interval_nominal_coverage_pct":90.374755859375,"confidence_floor_pct":0},{"sessions":10,"sample_size":18,"median_return_pct":2.038539035519049,"p25_return_pct":-3.049457809681405,"p75_return_pct":3.7262854947127835,"above_zero_pct":66.66666666666666,"median_interval_low_pct":-1.226172155861438,"median_interval_high_pct":3.6883653791350612,"median_interval_nominal_coverage_pct":90.374755859375,"confidence_floor_pct":0}]},{"direction":"below","event_count":18,"completed_path_count":18,"latest_cross_date":"2026-03-20","horizons":[{"sessions":1,"sample_size":18,"median_return_pct":1.0560207768476992,"p25_return_pct":-0.25346852034887346,"p75_return_pct":1.720753934277175,"above_zero_pct":72.22222222222221,"median_interval_low_pct":0.21274654107272806,"median_interval_high_pct":1.7077650653717358,"median_interval_nominal_coverage_pct":90.374755859375,"confidence_floor_pct":0.21274654107272806},{"sessions":3,"sample_size":18,"median_return_pct":1.6773014254832463,"p25_return_pct":0.13361365177591566,"p75_return_pct":1.8789701877281184,"above_zero_pct":77.77777777777779,"median_interval_low_pct":0.27064229065922873,"median_interval_high_pct":1.8720518232583583,"median_interval_nominal_coverage_pct":90.374755859375,"confidence_floor_pct":0.27064229065922873},{"sessions":5,"sample_size":18,"median_return_pct":1.3037456438108497,"p25_return_pct":-1.6734174460969449,"p75_return_pct":3.2886123225664585,"above_zero_pct":66.66666666666666,"median_interval_low_pct":-1.5977777012328276,"median_interval_high_pct":2.915449406252657,"median_interval_nominal_coverage_pct":90.374755859375,"confidence_floor_pct":0},{"sessions":10,"sample_size":18,"median_return_pct":2.6618233122380097,"p25_return_pct":-0.5508729573962812,"p75_return_pct":4.945293291087477,"above_zero_pct":66.66666666666666,"median_interval_low_pct":-0.24658907293796384,"median_interval_high_pct":4.552756068548369,"median_interval_nominal_coverage_pct":90.374755859375,"confidence_floor_pct":0}]}],"missing_value_semantics":"null means unavailable; it never means zero","interpretation":"These are descriptive end-of-day model outputs. Signed GEX uses the published call-positive, put-negative convention and is not observed dealer inventory. None of the fields are live prices, predictions or investment advice."}