{"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/FCX","markdown_url":"https://halfonadouble.com/stock/FCX.md","history_url":"https://halfonadouble.com/api/v1/history/FCX.csv","advanced_analysis_url":"https://halfonadouble.com/api/v1/analysis/FCX.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":"FCX","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":69.5199966430664,"previous_close":70.01000213623047,"delta_neutral":65.20056603454206,"gamma_neutral":65.66130961201469,"gamma_max":83.22392633500296,"total_open_interest":887558,"previous_open_interest":992662,"listed_contracts":704,"listed_calls":427,"listed_puts":365,"gamma_max_distance_pct":19.712212821723885,"delta_neutral_distance_pct":-6.213220392833753,"gamma_neutral_distance_pct":-5.550470680922513,"open_interest_change_1d_pct":-10.588095444370794,"call_open_interest":430961,"put_open_interest":456597,"put_call_open_interest_ratio":1.059485661115507,"nearest_expiration_max_pain":74,"nearest_expiration_max_pain_expiry":"2026-10-23","nearest_expiration_max_pain_distance_pct":6.444193862573219,"all_expiration_max_pain":65,"net_gamma_exposure":10663742.457356896,"net_gamma_exposure_per_100k_open_interest":1201469.9273013028,"gamma_exposure_flip":65.66130961201469,"gamma_exposure_flip_distance_pct":-5.550470680922513,"call_wall":80,"call_wall_distance_pct":15.074804175754833,"put_wall":65,"put_wall_distance_pct":-6.501721607199198,"gamma_max_cross_direction":null,"delta_neutral_cross_direction":null,"open_interest_rank":110},"history_summary":{"first_date":"2020-12-01","last_date":"2026-10-16","session_count":1404,"trailing_window_sessions":252,"sessions_above_gamma_max_pct":4.761904761904762,"gamma_max_cross_count":12,"delta_neutral_cross_count":12,"gamma_max_prior_sessions_closer_pct":94.04761904761905,"gamma_max_prior_comparison_sessions":252,"delta_neutral_prior_sessions_closer_pct":30.952380952380953,"delta_neutral_prior_comparison_sessions":252,"open_interest_percentile_1y":0.7936507936507936,"open_interest_change_1d_contracts":-105104,"open_interest_change_z_252":-1.7069164950873483,"open_interest_change_z_comparison_sessions":252,"open_interest_change_5_sessions_pct":-8.47605838588097,"open_interest_change_21_sessions_pct":-21.01763572065474,"call_put_open_interest_changes":{"one_session":{"call_change_contracts":-61135,"put_change_contracts":-43969,"call_growth_pct":-12.423388932240865,"put_growth_pct":-8.783856674244756,"call_minus_put_growth_pp":-3.639532257996109},"five_sessions":{"call_change_contracts":-59414,"put_change_contracts":-22783,"call_growth_pct":-12.116033647718583,"put_growth_pct":-4.752597104593433,"call_minus_put_growth_pp":-7.363436543125149},"call_change_surprise":{"z_score":-1.7122547931772256,"comparison_sessions":252},"put_change_surprise":{"z_score":-1.5730912930521879,"comparison_sessions":252},"call_minus_put_growth_surprise":{"z_score":-1.4852004794298612,"comparison_sessions":252}}},"advanced_options":{"data_through":"2026-10-16","analysis_coverage":1,"catalyst_score":45.407106681885196,"directional_score":-16.49164229561858,"catalyst_reasons":[],"features":{"price":69.52,"totalOi":991521,"analysisCoverage":1,"avgIvPct":192,"ivRank":56.9,"iv52wHighPct":300.5,"iv52wLowPct":48.86,"frontDte":7,"termPremiumPp":4.453,"riskReversalFrontPp":2.96,"riskReversal30dPp":0.73,"butterflyFrontPp":4.2,"butterfly30dPp":0.08,"putCallOiRatio":0.995,"putCallOiFrontRatio":1.329,"putCallVolumeFrontRatio":0.981,"optionVolume":27310,"volumeOiRatio":0.027544,"netDeltaNormalized":0.12521,"dealerDeltaNormalized":-0.124661,"gexPer100kOi":1205448.885097,"vannaPer100kOi":2636.757063,"charmPer100kOi":-76944.209956,"weekendDeltaShiftPer100kOi":-230832.730724,"ivSurfaceRangePp":249.9,"gammaFlipDistancePct":14.614499,"maxPainDistancePct":-6.501726,"peakCallDistancePct":6.444189,"peakPutDistancePct":-13.693901},"complete_analysis_url":"https://halfonadouble.com/api/v1/analysis/FCX.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":35,"completed_path_count":35,"latest_cross_date":"2026-08-25","horizons":[{"sessions":1,"sample_size":35,"median_return_pct":-0.86676133820901,"p25_return_pct":-1.4286056781332157,"p75_return_pct":0.4361917674413407,"above_zero_pct":28.57142857142857,"median_interval_low_pct":-1.1198503860687992,"median_interval_high_pct":-0.20732585326939112,"median_interval_nominal_coverage_pct":91.04689210653305,"confidence_floor_pct":-0.20732585326939112},{"sessions":3,"sample_size":35,"median_return_pct":-0.9221769137536917,"p25_return_pct":-3.908000213480256,"p75_return_pct":2.2969891826170152,"above_zero_pct":42.857142857142854,"median_interval_low_pct":-3.1784914505082695,"median_interval_high_pct":1.066945034071276,"median_interval_nominal_coverage_pct":91.04689210653305,"confidence_floor_pct":0},{"sessions":5,"sample_size":35,"median_return_pct":-0.3949333589602366,"p25_return_pct":-5.314988486490896,"p75_return_pct":2.9633991678760574,"above_zero_pct":48.57142857142857,"median_interval_low_pct":-4.122518582043733,"median_interval_high_pct":1.5780696095123448,"median_interval_nominal_coverage_pct":91.04689210653305,"confidence_floor_pct":0},{"sessions":10,"sample_size":35,"median_return_pct":-0.20795900316122884,"p25_return_pct":-5.528709025783485,"p75_return_pct":4.981721910340053,"above_zero_pct":48.57142857142857,"median_interval_low_pct":-2.2888533564491165,"median_interval_high_pct":1.5067398023658196,"median_interval_nominal_coverage_pct":91.04689210653305,"confidence_floor_pct":0}]},{"direction":"below","event_count":34,"completed_path_count":34,"latest_cross_date":"2026-08-26","horizons":[{"sessions":1,"sample_size":34,"median_return_pct":-0.40448512601403697,"p25_return_pct":-1.4976621771934067,"p75_return_pct":0.2823824048509005,"above_zero_pct":32.35294117647059,"median_interval_low_pct":-1.2292867637134441,"median_interval_high_pct":-0.06006964381619628,"median_interval_nominal_coverage_pct":94.23873270861804,"confidence_floor_pct":-0.06006964381619628},{"sessions":3,"sample_size":34,"median_return_pct":0.24429278145849942,"p25_return_pct":-3.258834807585495,"p75_return_pct":3.213599602466938,"above_zero_pct":50,"median_interval_low_pct":-1.0214150314530324,"median_interval_high_pct":1.402393430104043,"median_interval_nominal_coverage_pct":94.23873270861804,"confidence_floor_pct":0},{"sessions":5,"sample_size":34,"median_return_pct":-1.3414374772828586,"p25_return_pct":-6.006869685589194,"p75_return_pct":3.104889386768966,"above_zero_pct":47.05882352941176,"median_interval_low_pct":-4.1950668582216855,"median_interval_high_pct":2.1204845014825002,"median_interval_nominal_coverage_pct":94.23873270861804,"confidence_floor_pct":0},{"sessions":10,"sample_size":34,"median_return_pct":-0.8960542207396394,"p25_return_pct":-5.6021905820682125,"p75_return_pct":5.529989507473082,"above_zero_pct":44.11764705882353,"median_interval_low_pct":-3.345029953627554,"median_interval_high_pct":1.421687114669612,"median_interval_nominal_coverage_pct":94.23873270861804,"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."}